Insurance companies clamoring to start offering usage based insurance
Car insurance companies are reportedly lining up for approval to launch a new type of policy that could cut the cost of insuring a car by 15 percent.
Its called usage based insurance and involves the installation of a wireless device in your car that monitors your driving habits.
Quebec based Desjardins became the first Canadian company in May to launch its Ajusto program.
Analysts say for those willing to give up some privacy, usage based insurance combined with the auto insurance cuts promised by the province could mean substantial savings.