Three Ways That Technology Can Save You Money On Your Car Insurance

Technology has made it easier than ever before to make sure that you're paying the lowest premiums for your car insurance. Many insurance companies are turning to technology to help their customers save money and receive better service, creating a winning combination for both the customer and the insurer. Here are three ways that technology can help you save money on your car insurance. 

Tracking technology

The same type of technology behind airplane black boxes could save you money on your car insurance premiums, if your insurer offers the service. Tracking technology is becoming more popular as people are willing to give up a little privacy in exchange for lower premiums for careful driving. A small device is attached to your car's diagnostic port, and it tracks your speed, time of day that the car is driven, distance, and even how many times you brake hard or accelerate quickly while driving. By monitoring these driving behaviours, your insurer can adjust your premiums to reflect whether you really are a safe driver, or not.

Collision avoidance technology

Smart features built into your car can prompt your insurer to consider lowering your annual premiums, since this technology can help reduce your risk of a collision. Rear cameras, blind spot detection systems, and lane departure warning systems are all great safety features that are becoming more common in cars. They are all designed to keep drivers safer on the road and insurers love them almost as much as drivers do. Many insurers offer discounts for cars that have these features, so make sure you ask your insurance provider if your vehicle has one or more of them.

Smartphone apps

Your smartphone could save you money on car insurance in one of several ways. First, you can shop around for lower premiums on one of several insurance policy comparison apps. If your insurer has an app, you may be able to use it to track your car's usage and your driving habits in order to receive a discount on your premiums. Installing and using apps designed to block texts and web use while driving could also net you savings on your premiums, if your insurer allows them. At the very least, your insurer's app should make having car insurance a little easier by offering instant access to your policy information, the ability to pay your premiums, and the ability to file claims through the app.

Don't overlook the use of these technologies when trying to find ways to save money on your car insurance. They all offer easy ways to save, and could keep more money in your pocket every month.