How Safe Driving Habits Can Lower Your Home Insurance Rates
How Safe Driving Habits Can Lower Your Home Insurance Rates
In a world where auto insurance is constantly evolving, customers are always looking for ways to save. Over the past decade, a significant shift has taken place in the insurance landscape, driven by a growing interest in usage-based insurance. Now, Nationwide Insurance is taking this trend a step further by offering discounts on homeowners insurance for safe driving behaviors through its latest initiative, the Telematics Property Discount.
Understanding Usage-Based Insurance
Usage-based insurance (UBI) tailors premiums based on real-time driving data collected from drivers. This model allows insurers to reward safe drivers with lower rates, appealing to an audience craving cost-effective insurance solutions. With advancements in technology, insurance companies are now able to analyze individual driving habits, enabling customers to save money through responsible behavior behind the wheel.
Introducing the Telematics Property Discount
Recently introduced by Nationwide, the Telematics Property Discount rewards customers for their safe driving habits. Available in 12 states and expected to expand further, this first-of-its-kind program offers an average discount of 5% on homeowners insurance for enrolled customers who participate in telematics programs such as SmartRide or SmartMiles. Once they meet the qualifying criteria based on their driving habits, the discount is automatically applied to their next homeowners policy renewal, simplifying the process for customers.
Sarah Jacobs, Senior Vice President of PC Personal Lines at Nationwide, emphasizes the program’s holistic approach, stating, "This program is about recognizing responsibility in all aspects of our customers' lives. Safe drivers are also less likely to experience avoidable home-related damages."
Who Can Benefit?
According to Nationwide, over half of its existing telematics customers are likely to qualify for this exciting discount. This means that by already practicing good driving behaviors, customers can potentially reduce their overall insurance costs significantly without any additional steps required. Once a qualifying discount is earned on their auto policy, the homeowners discount will automatically follow suit—meaning customers get rewarded for simply driving safely.
Empowering Customers
The Telematics Property Discount is not just about financial savings. It is also about empowering customers to take an active role in their coverage and care. Jacobs highlights this shift, noting, "We’re helping people move from being passive policyholders to active stewards of their homes and vehicles. By building a relationship based on trust and shared responsibility, we’re enhancing the customer experience."
With the Telematics Property Discount, Nationwide is transforming the insurance relationship into a partnership. By linking the data from auto and home policies, the company is not only incentivizing safe driving but also fostering a deeper connection between customers and their insurance provider.
The Bigger Picture
As innovative technologies reshape the insurance industry, Nationwide's new initiative serves as a splendid illustration of how data-driven insights can create genuine consumer value. It reflects a growing trend where insurers leverage behavioral data to develop programs that resonate with the needs of policyholders.
As the landscape continues to evolve, Nationwide calls upon its customers to embrace this progressive approach to insurance, where their actions can lead to tangible rewards.
Learn More
For more information about how usage-based insurance can save you money and help you take control of your policy, visit Nationwide’s website.
About Nationwide
Nationwide is a Fortune 100 company with a robust portfolio of insurance and financial service products. Headquartered in Columbus, Ohio, it has earned an A+ rating from Standard & Poor's and remains a leader in customer-focused innovation. Providing a full range of insurance and financial services, Nationwide is dedicated to supporting its customers across a variety of needs—from auto and life insurance to retirement plans.
Stay updated and follow Nationwide PR on X to catch the latest news, offerings, and updates.