Toyota Offers Opt-in, Usage-Based Auto Insurance - BodyShop Business

Toyota Offers Opt-in, Usage-Based Auto Insurance

Toyota Insurance Management Solutions (TIMS) has launched a usage-based insurance program for owners of their cars.

Toyota Insurance Management Solutions (TIMS), an independent P&C insurance agency under Toyota’s Financial Services umbrella, has launched a usage-based insurance (UBI) program for owners of their cars, according to an article by Insurance Business magazine.

The automaker recently emailed drivers who own Toyota cars equipped with the company’s “Connected Services” telematics system, inviting motorists to participate in TIMS’ new insurance program, according to the article.

Drivers who sign up for the insurance program allow Toyota to utilize the Connected Services system to collect their driving data. The data is then sent to TIMS, which will determine, based on the data, if the driver is eligible for a discounted auto quote. The information is then “anonymously” shared with auto insurance providers partnered with TIMS, according to the article.

Located in Delaware, TIMS is licensed in all states and the District of Columbia. In a disclaimer, the agency said that the insurance policies offered through the program are underwritten by non-affiliated insurance companies, according to the article.

The concept of UBI is not exactly new. In fact, Tesla recently announced it would be offering insurance to its drivers and, earlier this year, Porsche announced the same.

To read the full article, click here.

You May Also Like

NABC Donates Recycled Ride to Deserving Las Vegas Family

The NABC, GEICO and Caliber Collision recently donated a refurbished 2019 Toyota Camry to a Las Vegas resident and his adopted family.

The National Auto Body Council NABC), along with GEICO and Caliber Collision, recently donated a refurbished 2019 Toyota Camry to a Las Vegas resident and his adopted family during the pre-race festivities of the Pennzoil 400 at Las Vegas Motor Speedway. The donation was made via the NABC's Recycled Rides program.

Dent Wizard Hires New Senior VP of Strategic Growth & Development

Adrian Gonzalez will be charged with driving growth through mergers and acquisitions.

CCC Report Analyzes Labor Pressures, Vehicle Complexity

Report shows advanced technology is contributing to costlier repairs, higher claims costs and longer cycle times.

Crash Champions Continues Steady Expansion Across Idaho

Crash Champions has announced the acquisition of Hoffman Auto Body in Boise, Idaho.

NABC Donates Recycled Ride to Tucson, Ariz. Family

The NABC, Allstate, Maaco and  Meineke Car Care recently donated a refurbished vehicle to a deserving Tucson, Ariz.-area mom.

Other Posts

ASE Practice Tests Available Online

ASE is encouraging those pursuing certification to take the official practice tests as part of their test preparation process.

Corby’s Collision Center: Since 1942

Bentley (Bud) and Evelyn Corby started Corby’s in a little gas station in Honeoye Falls, N.Y.

CIF Announces Enterprise as Repeat Annual Donor

Enterprise has donated for the fourth consecutive time at the Urgent Care (second highest) tier.

NABC Donates Recycled Ride to Central Georgia Mom

The NAB), GEICO and Five Star Collision Center-Wimbish recently donated a refurbished vehicle to a deserving mother of four.