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الثلاثاء، 4 فبراير 2020

Monroe County makes millions with Airbnb rentals

With hosts raking in nearly $19 million in revenue over the course of 2019, the Poconos have become an absolute hot-spot for Airbnb rentals.According to the short-term rental company, Monroe County hosts welcomed 156,200 guests to their properties over the past year, netting them $18.9 million after taxes and fees and establishing the area as Airbnb’s third most-profitable county in the commonwealth.Only Philadelphia, which took $66.8 million, and Allegheny, which [...]

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Everything You Need to Know About Smart Home Discounts

Smart devices are increasingly important in our everyday lives and are found in the workplace, in our homes and everywhere in between. In fact,34.8 million homes in the United States are considered “smart homes” in 2019 and this is projected to continue growing.

Home insurance companiesand utility companies have taken notice of increased smart device usage. Benefits of using these devices include increased safety and decreased energy usage, so many home insurance companies are beginning to offer special discounts, rebates and deals for homeowners who use smart devices.

Table of contents:

Types of smart home insurance discounts

There are several ways you can save when using smart devices in your home. The type of offer depends on your insurance company, the type of device you own and where you purchase the device.

Here are a few types of smart home discounts your insurance or utility company may offer:

  • Discounts or rebates on smart products: Some insurance companies offer exclusive deals with certain smart device partners for their customers. You can typically find these deals on their website.
  • Free or discounted installation: In addition to deals on devices, your company may offer free or discounted installation. Double-check if this is offered for any device or only devices purchased through them.
  • Demand response programs: These are voluntary programs that help consumers reduce their energy usage during peak hours. With smart home technology some utility companies have an app that will alert you when peak hours are and allow you to turn off your devices. Other companies let you opt in for them to do this for you. The goal is to reduce overall energy usage when it is in high demand. Participants can expect things like discounts and rebates as rewards. Some companies only offer these discounts if the smart device used is purchased through them, so ask your company how you can qualify.
  • Discounts on insurance premiums: Some companies offer discounts if your home is equipped with smart devices. For example,American Family offers up to 5 percent off your policy for having smart devices installed. The requirements vary greatly with each company, so confirm your eligibility with your insurance provider.

types of smart home discounts including rebates, free installation, demand response, and insurance premiums

The size of your discount or offer also depends on the type of smart device you have and how its features impacts your homes energy usage and overall safety.

Here are a few smart home devices that may come with a special offer from your insurance provider:

  • Wireless security systems: These systems vary. You can purchase individual devices that manage certain access points such as doors and windows. They allow you to arm and disarm the system remotely and with cameras throughout the house, you can view check in using your web or mobile device.
  • Video doorbells: Smart doorbells can allow you to capture high-quality footage of visitors, see better at night and many other perks. Some systems allow you to answer via two-way audio through the doorbell.
  • Smart smoke detectors: These detectors can alert your phone of several things like if they detect smoke or if the battery is low. Some models allow you to silence smoke detectors from your phone if you find it’s a false alarm.
  • Water and gas shutoff sensors: Just like other smart tech, you can easily manage smart shutoff sensors from your phone. These sensors can alert your right away of leaks or flooding and allow you to turn off your home’s water or gas supply to prevent damage.
  • Thermostats: Smart thermostats allow you to remotely manage your temperature through an app. These may also allow your utility or insurance company to manage the temperature in your home. Some thermostats can sync with other technology in your home and adjust to any surrounding safety risks. For example, if the smoke alarm goes off, the thermostat will turn the fan off since air blowing into a fire could make it bigger.

types of smart home discounts including security, thermostats, smoke detectors, and other home sensors.

You should double-check with your insurance company and utility company to see what they offer for smart homes. Some offers may only available for certain service areas and others may have specific requirements. You can check this information by going to your provider’s website or directly calling them to learn more.

Are smart home discounts worth pursuing for your home?

Smart home discounts are worth pursuing if your interested in acquiring smart devices for your home and can’t otherwise afford it, already use smart devices in your home, want to reduce your ecological footprint or want to find ways to save overall on home expenses.

For example, Pacific Gas and Electric (PG&E) offers $50 rebates for smart thermostats. As mentioned earlier, American Familyoffers a smart home discount up to 5 percent, For some, this discount may not make a significant difference in their overall household budget, but it is savings nonetheless.
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Benefits of Utilizing Smart Home Discounts

There are many benefits that go beyond financial savings, like reduced energy usage and easier home safety management, that make these discounts well worth pursuing.

Here are a few benefits of smart home devices:

  • Increased convenience: Managing your devices can happen anywhere.
  • Streamlined safety management: You can manage many things straight from your phone instead of needing to call separate companies.
  • Quicker response times: Instead of running home to turn off your water to prevent flooding, you can turn it off right from your phone.
  • Save money on otherwise pricey devices: Rebates and discounts are helpful for those who otherwise can’t afford smart devices.
  • Reduce unnecessary usage: The functionalities of smart devices can help reduce energy usage, in turn reducing your bills and saving you money in the long run.

Disadvantages of utilizing smart home discounts

As great as home devices are, there are some disadvantages that come with them. These price breaks might not be beneficial in the end if it doesn’t help you or your household. Be sure to weigh the pros and cons to smart home devices when deciding if they’re right for you.

Here are a few disadvantages of using smart home devices:

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Overall savings may be small

    : Homeowners may not save big when switching to smart devices. Discounts are also typically dependent on factors like conditions of the house and location.
  • Learning curve for less tech-savvy residents: Less tech-savvy customers can miss out completely on these benefits if they have a difficult time learning how to use these devices.
  • May fail to work when the internet is down: Most devices and features are useless when your home’s internet is down.
  • Decreased privacy: Insurance companies can have a much more intimate look into your everyday life thanks to the data collected by these smart devices.
  • Increased cybersecurity risk: Just like your laptop and your phone, a hacker could take over your smart thermostat and your smart home assistant if you’re not careful.

advantages and disadvantages of smart home discounts

It’s up to you to decide if smart home devices will ultimately benefit your household. Explore your options and take time to understand how these devices can impact your home and everyone living in it.

 

Insurance companies that are partnering with smart home device makers

Smart home device makers and insurance companies are partnering to encourage the use of smart home devices in customer homes.

Below, we’ve highlighted a few partnerships with popular home insurance companies.

Farmers

Farmers Insurance customers can take advantage of the Farmers Insurance Alexa Skill.

Partner Benefit Description
Amazon Farmers Insurance Alexa Skill Users can get information about claims and their policy.

This Skill does link to your account and requires a login.

Amica Mutual

Amica Mutual also has an Alexa Skill that helps policyholders get answers for their insurance-related queries.

Partner Benefit Description
Amazon Amica Mutual Alexa Skill Users can find answers to insurance questions.

This Skill does not link to your account and does not require a login.

Allstate

Allstate was among the first companies to embrace Amazon Echo’s capabilities for their customers. You can use the Allstate Insurance Skill for Alexa to check their policy and find local agents.

Allstate also partners with smart security system Canary to offer up to 5 percent savings on you homeowner’s policy when using Canary in your home. You should call your Allstate Agent and ask about the “Self-monitored Theft Protection Discount” to learn more.

Company Benefit Description
Amazon Allstate Insurance Skill for Alexa Users can find their nearest agent, get information about their policy, pay bills and more.

This Skill does not require you to login to your Allstate account, but some features are only accessible when logged in.

Canary Homeowners Insurance Discount Allstate customers can save up to 5 percent on their policy when they use Canary products in their home.

State Farm

State Farm partners with ADT to offer free equipment and activation for all systems. State Farm customers can also save $60 a year if they purchase an annual plan.

State Farm also partnered with Canary in 2015 to donate home security devices to first responders nominated by their community. Today, State Farm still offers a discount on homeowner’s insurance premiums for customers who use Canary. Customers can call their State Farm agent and ask for the “Local Burglar Alarm” discount that is part of the “Home Alert Protection Discount.”

Company Benefit Description
ADT Equipment and Activation Deals State Farm customers are eligible for $0 charge for equipment and free activation for all systems.
ADT Exclusive Discounts on Plans State Farm customers can save more than $60 a year when purchasing an annual plan.
Canary Homeowner’s Insurance Discount State Farm customers can save on their homeowner’s insurance premiums when they use Canary products in their home.

Travelers

Travelers offers discounts for having smart or connected home technology. You can also save up to 5 percent off if your home is a certified “green home” by the Leadership Energy and Environmental Design (LEED) organization. Smart home devices can indirectly help you achieve this by monitoring things like energy, water and gas usage.

Travelers partnered with Amazon to giveaway a free Amazon Echo Dots to eligible home insurance customers. This offer is set to expire at the end of 2019, but Travelers has extended this deadline in the past. They also offer two Alexa Skills for customers and Amazon Alexa users.

Company Benefit Description
Amazon Free Amazon Echo Dots Eligible Travelers customers can receive a free Amazon Echo Dot.
Amazon Travelers Home Central Skill for Alexa Allows users to access tips for things like maintenance, safety and their appliances.

This Skill does not link to your account and does not require a login.

Amazon Travelers Skills for Alexa Travelers customers can manage their policy, pay bills and more.

This Skill does link to your account and requires a login.

Liberty Mutual

Liberty Mutual has a long history of partnering with smart home device companies like August. They also offer discounts for having smart home devices.

They participate in Nest’s Safety Rewards program that offers customers the opportunity to get discounts for their home insurance and discounts for Nest Protect.

Liberty Mutual also partners with Piper to offer a 5 percent discount on home, condo or renters insurance and up to 15 percent off the theft portion of your premium.

They also partner with Vivint to offer free activation and professional installation for their smart home system. This is only available to new Vivint customers.

Company Benefit Description
Nest Safety Rewards Program Liberty Mutual customers can get savings on their home insurance for having Nest products and discounts for Nest Protect.
Piper Homeowners, Condo or Renters Insurance Discount Piper customers can save five percent on home, condo or renter’s insurance if they switch to Liberty Mutual.
Vivint Smart Home Discounts Liberty Mutual customers can sign up for Smart Home Discounts for up to 15 percent off the theft portion of your premium.

smart home discount partnerships including nest, adt, amazon, and more.

Insurance companies and your data

Data is king for many industries and it’s no different for home insurance companies. Having the inner workings of a home recorded and monitored gives insurance companies insight to prevent and protect homeowners.

For example, a smart device that detects a pipe that can potentially burst can alert insurers to call a plumber and shut off the water before any damage happens. Devices can lower other risks like:

  • Burglary and home invasion
  • Fire and related damage
  • Water and gas leaks

Lower risk, heightened safety and predictive technology can decrease the amount of claims filed, thus saving everyone time and money. Some devices can help settle claims faster by using the data they collect. The savings gives insurers more room to offer rebates and discounts for smart home technology.

However, this use of data can backfire if the proper protection and security mechanisms are not put in place. Although certain opportunities for physical risks are reduced with smart devices, opportunities for cyber risks and other physical risks are opened.

Here are a few privacy and safety-related risks you take when you add smart devices to your home:

  • Unknowingly create new opportunities for criminals: If you can access your WiFi-enabled security cameras through your phone, so can a hacker if you’re not careful. The consequences unfortunately go further than an invasion of privacy. For example, some burglars can learn your daily routine to get the ideal time to break in just by stealing data from your smart devices.
  • Unintentionally giving insurers an intimate view: Your insurers can begin using this influx of information to closely monitor your activity at your unintentional disadvantage. For example, technology reporter Karl Paul suggests insurers in the future could begin penalizing you for risky behavior like leaving the stove on or even tracking when you do and do not use your smart devices.
  • Unclear responsibilities of data security: Collecting an increased amount of data inevitably invites hackers to try and steal it. It’s sometimes unclear who is responsible for the damages when data is compromised since smart home devices are still fairly new. This ambiguity can create new headaches, costs and sources of time loss if not clearly established.

Smart devices are great for monitoring your home’s energy usage, reducing your ecological footprint and for saving money. It’s worth checking to see if you qualify for any discounts right now so you can start saving now.

If you’re considering making other improvements to your home, you can take a look at our list of best home improvement loans to see what offers are out there for the projects you have in mind.

smart home discount infographic

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How Do Self-Driving Cars Work and What Problems Remain?

Are you ready for your car to become a self-driving chauffeur? 

Progress in the field of self-driving cars has been enormous over the last decade. Waymo and Uber, both top contenders in the race for an autonomous driving future, weren’t even incorporated before 2009. 

Between 2015 and 2019, Tesla’s autopilot achieved more than 1 billion miles of total use. And between January of 2019 and January of 2020, Tesla’s autopilot is expected to more than double to more than 2.3 billion miles of use.

Even with all this progress, accidents and deaths from self-driving cars still pose a very real threat. In this article, we cover the ins and outs of the autonomous vehicle industry, the technology driving the progress and what problems threaten public safety as the technology is rolled out (all puns intended).  

What is a self-driving car? 

A self-driving car, also known as an autonomous vehicle, is a connected car that relies on a combination of hardware, software and machine learning to navigate various weather, obstacles and road conditions using real-time sensory data. 

People commonly associate self-driving cars with artificial intelligence, but many cars today have achieved multiple levels of autonomy without artificial intelligence. Features such as brake assist, lane assist, and adaptive cruise control, for example, can be considered autonomous driving to some degree. 

Self-driving cars do not rely on advances in artificial intelligence to move the industry forward, though the level of autonomy depends on the sophistication of the deep learning models used to control the car. In theory, there are 5 levels of autonomy that define a self-driving car. 

The 5 levels of autonomous vehicles

These 5 levels of autonomous vehicles were outlined by SAE International in 2014 to have a common point of reference for the industry. Each level depends on the level of automation and how much human involvement is required. 

Level 0

Okay, so there are technically 6 levels of self-driving cars, starting with absolutely no automation. 

In this level, humans control every aspect of the driving environment from acceleration, shifting gears, steering, navigation, weather, and more. An example of a vehicle in the Level 0 phase is the Ford Model T, because it doesn’t have any features that reduce the car’s reliance on humans, such as cruise control and even automatic windows. 

In Level 0, the human is responsible for executing maneuvers, monitoring the environment, and fall back performance in the event of an error with the car (flat tire, loss of brakes, etc.). There is no aspect of automation in this level.  

Level 1

The first step towards self-driving cars is basic driver assistance. Your car may actually fall within this spectrum of self-driving if it has lane assist, brake assist, or cruise control. 

A feature as small as side-mirror indicator lights to alert the driver when a car is in the next lane can be considered Level 1 driver assistance. Other common driver assistance features include a vibrating steering wheel when an unsignaled lane departure occurs and a self-parallel parking feature.  

In Level 1, there are some aspects of automation in the execution of driving functions such as steering, accelerating, and decelerating.

Level 2

The next rung on the self-driving ladder is Level 2 autonomy and is actually a big step up from Level 1.

In Level 2, the automated system finally takes control of the functional aspects of driving such as steering, acceleration and deceleration, among others. The human driver, however, is still responsible for monitoring the driving environment.

Examples of cars currently in Level 2 autonomy include Tesla’s vehicles with autopilot enabled and Nissan’s ProPilot assist.

Level 3

Level 3 autonomy is when self-driving cars cross the chasm into monitoring the driving environment conditionally. The conditional caveat is that a human driver is still the fallback redundancy when dynamic driving is required. 

If a car with Level 3 autonomy cannot adequately navigate an obstacle in the road or dangerous weather conditions, it will require the human driver to intervene. 

Uber’s self-driving car is an example of Level 3 because while the car controls most of the navigation, the human is still needed for edge-case scenarios the system has not been trained on. 

Level 4

This is currently the highest level attained by the autonomous vehicle industry. Level 4 is defined as high automation. The self-driving system is responsible for all execution, monitoring, and fall back, but is not 100% effective in all driving modes.

This means that the car will not understand how to perform in extremely rare scenarios that the models have not been trained to recognize. 

Waymo the autonomous vehicle company being created by Google, is currently in Level 4 autonomy. Its cars are currently testing self-driving ridesharing in major U.S. cities without human drivers. But there are still rare cases where the self-driving car is implicated in a situation that extends beyond the model’s understanding and ability to avoid an accident. 

Level 5

Level 5 is the goal of self-driving characterized by full automation. 

Full automation means a human being never has to intervene and the car can adequately handle every road (or off-road), weather, obstacle or any other condition, it faces. A world of Level 5 would work best as a network of only other Level 5 autonomous vehicles. If human error is involved, the system is vulnerable to failure. 

Since training machine learning models is essential to handle Level 5 driverless scenarios, some believe whoever has the most data has the most autonomy. George Hotz, the founder of self-driving startup Comma.ai, believes Tesla will be the first to reach Level 5 autonomy based entirely on the amount of data they collect. 

Technology inside self-driving vehicles

While the body of a self-driving car isn’t a reinvention, companies creating self-driving technologies have had to reinvent the way in which the car interfaces with the world around it. A combination of hardware, software and machine learning are needed to have the abilities and redundancy of a self-driving car Level 3 and above. 

animated depiction and descriptions of self-driving car hardware

Radar 

Radar, or Radio Detection and Ranging, is what self-driving cars use to supplement higher resolution sensors when visibility is low, such as in a storm or at night. 

Radar works by continuously emitting radio waves that reflect back to the source to provide information on the distance, direction and speed of objects. Although Radar is accurate in all visibility conditions and is relatively inexpensive, it does not have the most detailed information about the objects being detected. 

LiDAR

LiDAR, or Light Detection and Ranging, is what self-driving cars use to model their surroundings and provide highly accurate geographical data in a 3D map. 

Compared to Radar, LiDAR has much higher resolution. This is because LiDAR sensors emit lasers — instead of radio waves — to detect, track and map the car’s surroundings with data being transmitted at the speed of light, literally. 

Unfortunately, laser beams do not perform as accurately in weather conditions such as snow, fog, smoke or smog. 

But even a small object like a child’s ball rolling into the street can be recognized by LiDAR sensors. LiDAR not only tracks the ball’s position, but also the speed and direction, which allows the car to yield or stop if the object presents danger to passengers or pedestrians. 

Cameras and computer vision

Cameras used in self-driving cars have the highest resolution of any sensor. The data processed by cameras and computer vision software can help identify edge-case scenarios and detailed information of the car’s surroundings. 

All Tesla vehicles with autopilot capabilities, for example, have 8 external facing cameras which help them understand the world around their cars and train their models for future scenarios. 

Unfortunately, cameras don’t work as well when visibility is low, such as in a storm, fog or even dense smog. Thankfully self-driving cars have been built with redundant systems to fall back on when one or more systems aren’t functioning properly. 

Complementary sensors 

Self-driving cars today also have hardware to enable GPS tracking, ultrasonic sensors for object detection, and IMU (inertial measurement unit) to measure the car’s velocity. 

An often overlooked but important sensor for self-driving cars is a microphone to process audio information. This becomes vitally important when detecting the need to yield to an emergency vehicle or detecting a nearby accident that could be hazardous to the car. 

Computation

In order for self-driving software to interface with the hardware components in real-time, processing all sensor data efficiently, it needs a computer with the processing power to handle this amount of data. 

The computer chips in your standard computer or smartphone are known as Central Processing Units (CPU) but when you consider how much computational power is needed for a self driving car, a CPU does not have anywhere near the bandwidth to handle the number of operations — measured in GOPS, or giga (billion) operations per second. 

Graphical Processing Units (GPU) have become the de facto chip for many self-driving car companies. But even GPUs are not the ideal solution when you consider how much data needs to be processed by autonomous vehicles. 

Neural network accelerators (NNA), introduced in Tesla’s FSD chip in 2019, have far superior computing power for processing real-time data from the various cameras and sensors within their self-driving car. 

According to Tesla, here is how these chips compare when processing the frames per second for 35 billion GOPS (giga operations per second):

  • CPU: 1.5
  • GPU: 17
  • NNA: 2100

As you can see, Tesla’s NNAs are a breakthrough technology in self-driving car computation. 

Software technology of self-driving cars

When self-driving cars reach Level 5 autonomy, they will almost certainly use a combination of three distinct components: hardware, data and neural network algorithms. 

We’ve already touched on the hardware component, which is currently the one component with the most achievement. The algorithms and data components have a long way to come before we reach Level 5 autonomy.

Neural network algorithms 

A neural network is a sophisticated algorithm based on complex matrices designed to recognize patterns without being programmed to do so specifically. Neural network algorithms are actually trained using the labeled data to become adept at analyzing dynamic situations and acting on their decisions. 

Some of the algorithms that have been built using neural networks and used in self-driving cars are:

depictions and descriptions of the software driving autonomous vehicles

Neural networks must be trained with data about the task they are expected to perform. When Google trains image recognition neural networks, for example, they must train the model with millions upon millions of labeled images. 

Data

Data is one of the most important components for fully autonomous vehicles (Level 5) to become a reality. 

Large amounts of data are the raw materials for deep learning models to become finished products, in this case, fully autonomous vehicles. 

Tesla currently has the largest source of data with more than 400,000 vehicles on the road transmitting data from their fleet of sensors. By January 2019, Tesla had 1 billion miles of autopilot usage data. Compare this to Waymo who only passed 10 million autonomous miles by October 2018. 

According to Rand, in order for an autonomous vehicle to demonstrate a higher level of reliability than humans, the autonomous technology would need to be 100% in control for 275 million miles before it can be proven safer than humans with a 95% confidence level. 

Points of failure for self-driving vehicles 

In engineering, a single point of failure is one that will cause the entire system to stop working if it fails. One of the key tenets of engineering is redundancy, or a secondary system that acts as a failsafe in case one stops working. This is why airplanes have more than one engine, because if one fails, the plane can still fly. 

Since self-driving cars use cameras, Radar, LiDAR and other sensors to understand its surroundings, the likelihood of a single point of failure leaving the car inoperable is extremely low. 

When Tesla designed their FSD (fully self driving) chip, they put in two independent and identical computers, not only for redundancy in case one fails, but for communication between the two to validate decisions. 

But even with all this redundancy, the main point of failure for self-driving cars is in the software. 

Deep learning models are trained using real-world driving and simulations, but even after billions of miles of experience, there are still rare edge cases these learning models won’t understand how to handle. 

These edge cases are a major point of failure for self-driving cars since deep learning models do not equate to intelligence. Some of the looming problems threatening the future of self-driving cars are:

  1. Predicting agent behavior: It’s currently difficult to entirely understand the semantics of a scene, the behavior of other agents on the road and appearance cues such as blinkers and brake lights. Not to mention, predicting human error such as when a person signals a left turn but actually turns right.
  2. Understanding perception complexity: Self-driving vehicles fail when objects are blocked from view such as during snowstorms, objects viewed in a reflection, fast moving objects around a blind spot and other long-tail scenarios.  
  3. Cybersecurity threats: Software is written by humans, and humans write code with vulnerabilities. Although very few people understand neural networks well enough to exploit these vulnerabilities, it can and will be done.
  4. Continuous development and deployment: One problem facing self-driving vehicles is the process of re-validating changes to the software. If and when the code base changes, does this require testing for another 275 million miles to validate performance?

animated depictions of the problems yet to be solved for self-driving cars

Real-world examples of self-driving system failure

On March 18, 2018, Uber’s self-driving car killed a pedestrian who was crossing the street illegally. Uber’s Level 3 autonomy likely failed in the machine learning model’s ability to make a decision based on the sensory detection of a pedestrian. 

Not to mention the failure on behalf of the fallback system in the event of an imminent accident: the human. The Uber safety driver behind the wheel failed to take action to prevent the accident.

Only 5 days later, on March 23, 2018, Tesla’s Level 2 autonomy vehicle hit a median divider head-on, killing the driver. 

Tesla confirmed autopilot mode was engaged and that the system failed because the lane divider lines were not clearly defined. 

The future of self-driving cars

Despite the definite problems outlined above, self-driving car companies are moving forward and improving every day. 

Considering an estimated 93% of car accidents are caused by human error, the opportunity for self-driving cars to remove a major threat in the daily lives of billions of humans is too great to pass up. There will be many debates over the efficacy of self-driving cars as well as regulatory hurdles before we see Level 5 autonomy deployed globally.

animated infographic about self-driving cars

Related articles:

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Get Extra Money With the Aspiration Cash-Back Debit Card

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Cash-back credit cards are fantastic. You can get paid just to buy groceries or fill up your gas tank.

This is basically extra money, as long as you only buy what you would normally and you pay off your balance each month.

Unfortunately, it can be hard to qualify for these cards. Credit card companies don’t just hand them out. To get your hands on that cash-back earning plastic, you might need a near-flawless credit history. Let’s face it: That’s something many of us don’t have.

We found another option, though.

It’s a debit card called Aspiration.

This online account comes with a debit card that lets you earn up to 5% cash back on your debit card spending and up to 11 times the average interest (the FDIC reports that the average account earns just .09%) on the money you set aside to save. 

That means you can start earning cash every time you swipe your card.

Get Paid Every Time You Swipe Your Debit Card

This is actually an account that does a bunch of different things. You can pay your bills, build your savings, invest and earn interest — all in one place.

Here’s what Aspiration offers:

  • You get your cash back, obviously. (Bonus!)
  • The debit card comes with no monthly account-maintenance fee and low minimums.
  • It pays up to 11 times the national average APY of .09% on your savings.

It takes just a few minutes to sign up now to start getting that cash back — on groceries, gas, at the home-improvement store. Wherever you spend your hard-earned money.

Tell the credit card companies to take a hike. You don’t need them or their approval anymore.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.



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Good2Go Auto Insurance Review 2020

Good2Go strives for simplicity when it comes to car insurance. For over 25 years, the company has been an excellent option to consider if you need liability-only insurance quickly with affordable rates. Good2Go also offers comprehensive and collision policies for those who need more than liability insurance but still want a no-frills option. It’s particularly attractive to people who have a driving history that makes it hard to find affordable insurance.

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Good2Go auto insurance overview

This provider keeps things basic. This simplicity is good if you need a quote quickly. The company claims it can provide you with a quote in under a minute. Good2Go also offers affordable monthly payments, and it has customer service available 24 hours a day, seven days a week.

When considering Good2Go car insurance, you’ll want to see what others are saying about it. The Better Business Bureau assigned the carrier an A grade, which indicates that Good2Go does a good job in resolving customer complaints.

That said, the provider didn’t score among the best in customer satisfaction in J.D. Power’s survey. This survey shows how satisfied customers are in doing business with their insurance provider.

Another aspect to consider is the company’s financial health. This is another area where Good2Go falls short. Recently, the provider requested to have its rating removed from AM Best. Before then it was a C+ rating, indicating the rating agency didn’t have much confidence in the provider’s financial health.his is important because if the provider is unstable, it might be unable to pay claims on policies.

Where Good2Go succeeds is with offering coverage to high-risk drivers who might otherwise have a difficult time finding affordable premiums. It also offers lots of discounts that might be appealing to people wanting a simple policy with several ways to save.

Good2Go insurance rates

Getting a quote online with Good2Go is easy to do. You fill out your information online including your name, address, details about your automobile and your current insurance provider and coverage.

The whole process took us two minutes to do. If you don’t live in a state Good2Go services, it’ll refer you to another provider.

Because Good2Go is made to keep things simple and provide the minimum required coverage, insurance with the company is generally affordable.

The Simple Dollar’s Good2Go auto insurance review

To better understand the full extent of what they offer, we’ll break this section down by coverage options, discounts and unique features.

Coverage options

Good2Go specializes in liability-only car insurance. This is great if you have paid off the loan on your vehicle but still want to follow the insurance laws in your state. It can also help if other insurers are too expensive for you because of your driving history. The provider also offers comprehensive and collision insurance, which could be helpful if you’re still under a lien from a bank and require full coverage.

Discounts

Similar to other car insurance providers, Good2Go insurance offers discounts for safe driving. The factors they examine include your driving record, searching for any moving violations, accidents or drunk driving incidents. If you don’t have any, you could receive a discount for up to 35% off your policy premium.

Another discount you could receive is if you had an accident or moving violation before but you’ve taken a defensive driving class after the violation. If you take and pass this course, you could receive up to a 15% discount on your policy. You can only take one class every few years, and the discount applies to only one car.

If you plan to insure more than one car with Good2Go, you’ll also be eligible for a multi-car discount.

Unique features

Because Good2Go is a no-frills option, you won’t have many bells and whistles as you would with other providers. However, Good2Go does have customer service available 24 hours a day, seven days a week to assist you if you have any questions, need to make changes to your policy or file a claim.

Good2Go’s competition

Auto insurance is a highly competitive market with plenty of providers available to choose between. One of the most important aspects to consider is will they be there for you when you need them the most? How an insurer handles your claim determines how well they treat their customers. When thinking about this, here are some other providers to consider:

  • Amica Mutual
  • Country Financial
  • Erie Insurance
  • USAA

The reason why we chose each is they scored really well in J.D. Power’s claims satisfaction survey. Amica Mutual earned an award for its outstanding service, receiving a five out of five overall rating in claims satisfaction.

Both USAA and Country Financial also earned five out of five in the survey while Erie earned three out of five. What this shows is that in each instance, you’ll receive outstanding service when you need it the most.

Considering that Good2Go or its partners did not make this survey list, it’s important to consider how well it measures up to their competitors that have much higher satisfaction ratings and are looked upon more favorably with credit-rating agencies.

What others are saying

The Insurance Journal did a piece on Good2Go last year about the insurer’s Distracted Driving App through LifeSaver. How the app works is it encourages drivers to put down the phone when they’re driving. The app employs the use of telemetrics to determine phone usage when driving and assigns drivers a score based on their phone activity when behind the wheel.

This is also the same journal that skewered Good2Go for advertising the bare minimum insurance at the lowest price, failing to neglect how this approach could result in you not having the right amount of coverage you need.

The bottom line

Good2Go touts simplicity and affordability. While these are two things most people want from car insurance, bare-bones coverage isn’t right for everyone. What’s more, the biggest concern with Good2Go is its financial health. It doesn’t have ratings with AM Best, and when they did, the rating was poor at best. So, if their financial health is in question, how confident are you in their ability to pay your claim?

Good2Go is ideal for people who need affordable minimum coverage, particularly if other insurance options are too expensive because of a poor driving history. Otherwise, it doesn’t have the customer reviews or financial health to stand out among the competition.

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LV= launches new car insurance voice app

LV= launches new car insurance voice app

LV= car insurance customers can now check their car insurance policies using their smart speakers. 

Brean Horne Mon, 02/03/2020 - 11:06
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LV= General Insurance has launched a voice app allowing customers with Amazon Alexa or Google Home Assistant products to ask questions about their car insurance policies.

LV= says it is the first direct car insurer to launch a voice app.

The voice app can answer over 500 questions about car insurance which are based on commonly asked questions on LiveChat and the call centre.

These questions include:

  • "What is the password to open my documents?"
  • "What is the difference between voluntary and compulsory excess?"
  • "How do i change the payment date for my policy?"
  • "How do I protect my no claims discount?"

To get started, customers will need to ask their smart speaker to "open LV" followed by a question about their policy. 

LV= developed the voice app to help customers who are less able to use a computer or telephone to check their documents.

The insurer also hopes to reduce some of 28,000 questions on policy documents that are received by call centre staff each month.

Plans are in place to add other products to the app in the future.

Jon Mansley, sales and marketing director at LV= says: “At LV= GI we’re always trying to make things easier for our customers, so with nearly 13 million smart speakers sold in the UK in 2019 we thought a voice app would be helpful.”

“With the launch of this new voice skill, customers can now find out details of their policy in a matter of seconds, simply by asking their smart device.”

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Financial Red Flags to Address Before You Turn 40

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When the restaurant isn’t clean, that’s a red flag. When your date forgets his wallet, that’s a red flag. And when an auto mechanic pushes a bunch of costly repairs on you at the garage, that’s a huge red flag. 

Then, of course, there are financial red flags. Life sends you these little alarm signals your finances aren’t quite where they should be. For example, when your bank hits you with an overdraft fee, that’s a clear sign your finances could use some TLC.

As we mature, we try to cast off these red flags, but sometimes they’re difficult to shake. Here are several common financial red flags you should address before you turn 40 — plus easy ways to eliminate them this week.

Red Flag No. 1: Paying Overdraft Fees

Yep, huge red flag. Do you keep getting hit by overdraft fees? They add up fast and can send you into a cycle of despair.

Luckily, there are some nicer accounts out there that won’t charge you overdraft fees. Aspiration is an all-in-one cash management account that gives you everything you need. 

It comes with 5 free ATM reimbursements each month and no overdraft fees, so you’ll never have to worry about sneaky monthly maintenance charges again. Avoiding those fees alone could save you up to $400 a year.

Plus, with the Aspiration Spend account, you can earn up to 5% cash back on your debit card purchases. And with the Aspiration Save account, you can earn up 11 times the average interest on your savings balance (the FDIC reports that the average account earns just .09%).

Plus, It takes five minutes to sign up for the account. Move your money over, and you’ll be on well on your way to ridding yourself of this financial red flag.

Red Flag No. 2: Not Budgeting

Do you know how much of your income goes toward housing? Or how much you spend on dining out each month? Have you set any financial goals lately? What’s your savings look like?

One of the simplest ways to identify — and overcome — multiple financial red flags is to create a budget. We know, we know. Budgets are no fun. But that’s why we recommend the 50/20/30 method — because of how simple it is.

Here’s what it looks like:

  • 50% of your monthly income goes toward living expenses. These include rent, mortgage, utilities, groceries, car payments, gas and loan payments.
  • 20% of your monthly income goes toward money goals, which can include investments, savings and debt-reduction payments above the minimum amount.
  • 30% of your monthly income goes toward personal spending. That’s everything else.

By creating a budget, you’ll be able to identify — and conquer — several financial red flags and feel more confident about your money.

Red Flag No. 3: Paying Too High Credit Card Interest

Credit card interest rates often rise above 20% and can persistently gobble up so much of your income that you’ll never get ahead.

And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.

The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.99% APR), you’ll get out of debt that much faster.

AmOne won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you eliminate this red flag in your life — once and for all.

Red Flag No. 4: Ignoring Your Credit Score

Another red flag: You don’t treat your credit score like it’s important. Heck, you might not have checked it in months… or ever. But what happens when you want to buy a car? Or a house? Your credit score will play a huge role in whether you’ll be able to do that. 

And if you have an error on your credit report (one out of five reports do), that could stand in your way, too.

Thankfully, a website called Credit Sesame will help — for free. It allows you to check your score, helps you find (and dispute) errors and even shows you ways to improve your score.

Take, for example, James Cooper. He didn’t know anything about credit, but Credit Sesame showed him the exact steps he needed to take to improve his score — from 524 to 801.

Then there are people like Salome Buitureria, a working mom in Louisiana who, in using Credit Sesame, found a major error on her report. The site helped her fix the mistake and take additional steps to raise her credit score nearly 200 points.*

Want to check for yourself? It only takes about 90 seconds to sign up and get started.

Red Flag No. 5: Never Checking Your Insurance Rates

When’s the last time you checked car insurance prices? If it’s been more than six months, that’s a red flag. Shopping your options twice a year could save you some serious cash.

Let’s be real, though. It’s probably not the first thing you think about when you wake up. But it doesn’t have to be.

A company called Gabi makes it super easy to compare car insurance prices for the same exact coverage you already have. Plus, it makes switching plans a breeze.

Take Lourdes Robles-Velazquez, for example. The single mom lives on a tight budget. She was paying $205 a month to insure two Toyota Priuses — hers and her daughter’s. By using Gabi, she knocked $80 off her monthly car insurance bill. That’s nearly $1,000 in savings per year.

Wondering how much you could save? Head over to Gabi and link up your current insurance account (this is how it gets you that apples-to-apples comparison). Then, browse your options. It takes all of two minutes.

Use this strategy to take a closer look at your other monthly bills, and challenge yourself to find more ways to save. Your budget will thank you.

Red Flag No. 6: Having No Retirement Plan

If you haven’t started thinking about retirement, now’s the time. The sooner you start, the better.

If your employer offers a 401(k) plan as part of its benefits package, then you should absolutely, definitely take full advantage of your employer’s matching contribution. If you’re already at the full company match, consider increasing your contributions even more. Trying raising it by at least 1%.

If your employer doesn’t have a 401(k) package, or if you’re self-employed, consider stashing retirement savings in a tax-free IRA. Contribute to it routinely and automatically, if you can.

Red Flag No. 7: Not Investing

Once you sort out your more immediate financial red flags, start looking forward to the future — by investing.

We found a company that helps you become a real estate investor, and you don’t have to be a millionaire.

You can get started with a minimum investment of just $500. Through the Fundrise Starter Portfolio, your money will be invested in portfolios of real estate around the United States. 

You can see exactly which properties are included in your portfolios — like a set of townhomes in Snoqualmie, Washington, or an apartment building in Charlotte, North Carolina.

And you don’t have to be the landlord. Fundrise does all the heavy lifting. As tenants pay their rent, you can earn money through quarterly dividend payments and potential appreciation of the property. 

It’s a great way to get started in the world of investing now that you’ve got some additional income. 

*Like Cooper and Buitureria, 60% of Credit Sesame members see an increase in their credit score; 50% see at least a 10-point increase, and 20% see at least a 50-point increase after 180 days.

Credit Sesame does not guarantee any of these results, and some may even see a decrease in their credit score. Any score improvement is the result of many factors, including paying bills on time, keeping credit balances low, avoiding unnecessary inquiries, appropriate financial planning and developing better credit habits.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.



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Ridesharing Privacy and Auto Insurance

Ridesharing services have made getting across town as easy as the push of a button. They can be more convenient than public transportation because drivers come directly to you, and ridesharing can be a less expensive option than traditional taxis as long as you don’t go when surge pricing exists.

That said, privacy is becoming more of a talking point and rightly so. How do ridesharing apps use your information? And are there other industries like auto insurance that might use the same technology to learn more about you?

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Do the benefits outweigh the costs or privacy risks?

When things work well, ridesharing has a lot of benefits. People don’t have to worry about getting a designated driver or buying a car if they don’t need vehicular transportation as often. It makes it easy to get a ride to or from an airport or get around an unfamiliar city.

When you’re requesting a ride during a popular part of the day such as rush hour, late at night, during a major event in your city or on a holiday, you face two problems: one a lack of available drivers, meaning your wait could be a long time until you’re able to secure a ride. And two, if you’re lucky enough to receive a ride, you’ll pay a lot for it. Both of these factors can offset the benefits ridesharing delivers.

These occasional factors might also pale in comparison to your privacy. Have you ever stopped to wonder how Uber or Lyft store your data, and does it run a risk to you?

Is your information safe with ridesharing apps?

Think about the information you must provide when you use these apps. First, you must verify your identity by linking your email address or social media account. Then, you must enable GPS so drivers can find you. You must also provide a facial picture (so the driver can identify you) and payment information.

Here’s where things become tricky. Normally, when you enable an app to have access to your GPS, you do so until you shut down the app’s activity. However, how many times do you do this after a ride from Uber or Lyft?

Unless you go in and manually kill the app’s activity directly after the ride or change the app’s location settings, the app has the ability to track you wherever you go. This could be a data treasure mine for companies who want to study your behavior by examining your activities.

In addition, what if someone hacks into Uber or Lyft’s software? If hackers are able to do this, they would have access to all of your personal information, your payment method and your GPS location. While this may not ever happen, instances of cybercrime continue to rise, as there’s a hacker attack every 39 seconds.

Furthermore, hackers have become more sophisticated in employing ransomware. This demand locks access to a specific computer or server until the victim complies by paying, normally in the form of Bitcoin. Hackers have been able to create data breaches in Baltimore, Equifax and many others. If they can hack them, why couldn’t they hack into a ridesharing company? While users don’t need to be paranoid, people should be cautious using any service that uses personal data.

On the other side of the equation, how do the ridesharing apps handle your information? According to Norton, one provider did an event where they posted real-time information on who was using their platform. So, viewers at the party were privy to where a rider was coming from and where they were going.

Uber also stores your behavioral data to better understand your needs. In essence, this is to make the app more beneficial to you by knowing where you want to go and when you require service to help you get the most out of its use.

Of course, Uber also shares aggregate information (a pool of anonymous data) sent to third parties for industry analysis. One of those industries that could use this data in unique ways is auto insurance.

Auto insurance companies want to cash in

One of the unique factors of ridesharing apps is the technology they employ. Uber’s platform uses a combination of GPS, gyroscope and accelerometer data. This allows the company to monitor a driver’s performance using metrics such as acceleration, speed relative to the limit in the area, rapid braking, length of the drive and time of day.

Some insurance companies are doing the same thing, using telematics to help them develop better risk profiles for prospective drivers.

For example, Root Insurance has a prospective customer download the app and then drive around for a few weeks to a month. During this time, Root collects data on the driver’s behaviors to build a risk profile. Along with how you drive, when you drive is an important consideration as well as how far you drive. During this collection period, Root provides drivers a score with suggestions on how to improve it. If, after the trial period ends, the driver meets the requirements and their driving score is high enough, Root will welcome them with a quote.

This data has the ability to transform the auto insurance industry because it gives providers more data to gauge a driver’s specific behaviors. Using this information will help them build more accurate risk profiles and create pricing models that better reflect that risk.

And these insurance companies have ridesharing apps like Uber to thank for that.

How to protect your privacy

Meanwhile, on the consumer end, there are a couple of ways to protect your privacy more when using these apps. The first of which is to disable the app after using it. You could also uninstall the app if you use ridesharing infrequently.

Alternatively, you could also change the permissions of the app to only allow location access when using it. This means once you stop using the app (manually closing it), it won’t track your location anymore.

All told, having specific data might seem concerning at first, especially if it falls into the wrong hands. However, one ironic element of ridesharing apps is they can predict risk better. In turn, auto insurance companies can employ this data. If you’re a safe driver, you could end up paying far less for car insurance. In some cases, this lower cost for insurance could give you more incentives to drive than to be picked up.

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