re: Does insurance violate the basic laws of economics?

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Auto Insurance companies have the ability to price on an individual level via telematics, but the majority of the population doesn’t actually want that. They don’t want to be “tracked” when in reality that is the only way to match price to risk

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Actually, I know a lot about the industry. State Farm, Progressive, etc claim discounts on telematics but that is still bullshite as their models use credit score as #1 contributing variable in pricing ... and if you don't drive, the discounts are marginally applied ... I use State Farm telematics in two of my vehicles and the discounts aren't aligned to risk ... trust me, I've priced it out ...

Consumers would be more open to telematics if they could trust the companies collecting the data ... but none of the existing insurance companies are trustworthy in that regard.

I'm going to dump State Farm telematics cause they're selling my data ... already confirmed with marketing spam that I've never signed up for ...