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These days, millions of Americans may be looking for ways they can cut costs on the various insurance policies they need in their everyday lives, as costs have risen appreciably in the last several years. Now, a number of companies may be offering them the ability to monitor their driving habits more closely to determine their premiums, and potentially save money, but some consumers might not like that idea much. Therefore, it may be important for insurance agents to make sure consumers know as much about these programs as possible so that they can make the most informed decisions about their coverage.

The concept of installing a tracking device that logs all sorts of data about their driving habits, and submits it to their insurers, which then use that information to set premiums, may sound tempting to drivers, according to Consumer Reports. However, many experts point out that a major hurdle here is the fact that consumers often aren't particularly willing to turn over that kind of information in exchange for a lower premium.

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Insurance companies themselves, though, say that there isn't really much point in worrying about that kind of privacy, because there isn't a lot of value in the data these devices collect other than to set coverage costs, the report said. This information will be used almost exclusively to set prices and likely track analytics across their entire pool of drivers to better craft plans that more specifically meet their clients' ongoing needs.

""[It's] very unlikely we will ever share an individual's personal information,"" Dave Pratt, general manager for usage-based insurance at a major policy provider, told the site. ""But it's useful to aggregate data. ... Our goal is to attract good drivers and keep them as customers for a long time.""

While this kind of option isn't for everyone, those who are willing to take part in it may be able to save themselves some money over the course of the year. However, when it comes to connecting with customers, insurance agents will have to do more than simply provide them with low costs. Being able to also bring strong customer service to the table as well is often what separates successful agents from those that may have a little more trouble retaining clients, so finding a strong mix of attentive relationships and low prices.

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