What is Time Based Insurance?

Could your commercial policy be eligible for a refund? Yes, it’s possible!

For businesses of any size with commercial vehicles on the road having the proper commercial auto insurance is imperative. Breaking the bank to do it isn’t.

Introducing Time Based Insurance (TBI) – The coverage you need, when you need it.
TBI is the ideal solution for commercial fleets of any size with vehicles that transition in use seasonally or operationally.

Applying the technology of telematics puts you in control of savings and so much more. Though a simply installed, on-board device, your vehicle will accurately collect and report data related to driver usage.

 

How does it work? It’s as simple as 1, 2, 3…

1. Place a telematics device in each of your vehicles. Installation is as simple as plugging it in.
2. You pay a regular insurance premium based on traditional rating criteria.
3. At the end of your policy term, receive a prorated refund for the time your qualifying vehicles are not in use.

It’s really that easy.

 

Combine TBI policy with Usage Based Insurance (UBI) and we’ve just become the best silent business partner you’ve ever had!
The same telematics device used for TBI has the ability to collect data such as driving patterns, locations, speeds, dates, times and more. Valuable information that you can use to increase efficiency, improve service delivery, enhance safety and more.

Consumer Data Analytics (CDA) gives us the data required to properly assess your risks and custom build the rate and coverage that fits your business model. With CDA at your fingertips intelligent fleet management becomes much simpler and more cost effective, giving you access to each of your vehicles driving data.

 

• Locate vehicles in real time.
• Control fuel costs – Monitoring driver use typically results in 30% fuel savings.
• Accident prevention – Monitor and coach driver behaviour to promote and maintain safety. Speeding, acceleration and braking are all factors to consider in accident prevention.
• Reduce maintenance expenses – Identify driver behaviour and promote positive changes. This can help keep vehicles in good working order.
• Time tracking – Track hours worked with precise vehicle start and stop times by tracking vehicle usage and mileage. Allowing for cost savings and improved route planning.

 

Intelligent Fleet Management – Keeping risk in check.
For many companies safety records and standards are key to acquiring both customers and collaborators alike, having a firm handle on your driving safety statistics is essential. InsureMy telematics data lets you speak knowledgably about your business fleet and tells your customers that you have the insurance protection to get the job done.

Contact us today for a free commercial auto quote. Together, we’ll help you assess your risks and understand the coverage you need to protect what is important to you. Talk to your advisor about putting insurance to work for you.