Cover Whale charges different underwriting fees for ELD and dashcams.
Last updated 3/20/2024
Telemetry data-sharing for every vehicle covered by a Cover Whale Auto Liability policy is required.
Policyholders have two options for data sharing. They can either connect vehicles’ existing electronic logging devices (ELDs) to Cover Whale, or install dual-facing dashcams provided by Cover Whale. Agents must select one of these options when binding the policy via the Cover Whale platform.
Underwriting fees are assessed for both telemetry data-sharing options, applicable only to E&S policies. These fees reflect our sustained commitment to enhancing driver safety and continually improving our service.
For new policies:
The underwriting fees for new policies are as follows:
- For the ELD connection option, the fee is $799.00 per vehicle.
- For the dashcam option, the fee is $1,099.00 per vehicle.
When selecting the ELD connection option, please ensure the policyholder has an already-installed and working ELD, and that Cover Whale supports their device.
A full list of supported devices can be found here.
If a policy is bound with the ELD option and the policyholder does not have an installed and supported ELD, it can be switched to the dashcam option and an additional $300 underwriting fee will be assessed per the above-listed fees.
If the dashcam option is selected at binding and a switch to the ELD option is requested, Cover Whale cannot refund the $300 differential in underwriting fee.
For renewals:
When renewing a policy, policyholders are entitled to a 50% discount on these fees:
- For the ELD connection option, the fee is $399.50 per vehicle.
- For the dashcam option, the fee is $549.50 per vehicle.
If at renewal, policyholders wish to switch from their existing data-sharing option to another, the underwriting fee will be the discounted renewal amount for the newly selected option.
Telemetry data-sharing is optional for policies other than Auto Liability offered by Cover Whale. Although, if policyholders choose to engage in data sharing for those policies, the above fees still apply.
NEW (October 2024): Fees Being Added to Admitted Policies in FL, IL, SC, & WI
A "Loss Control Compliance Fee" is being added to all new admitted Cover Whale policies in Florida, Illinois, South Carolina, and Wisconsin. This change will impact all new policies, renewals, and endorsement transactions with effective dates on or after October 1, 2024.
This "new" fee brings admitted policies in the four states listed above in line with similar fees already applied to non-admitted policies. Although it will appear as a "Loss Control Compliance Fee" in policy documents and policyholder statements, it is identical to the "underwriting" fees listed above (see fee schedule below for confirmation):
- Flat fee per vehicle on all new business, renewals, and endorsement transactions
- Loss Control Compliance Fee Schedule
- ELD (new business): $799.00
- ELD (renewals/endorsement transactions): $399.50
- Camera (new business): $1099.00
- Camera (renewals/endorsement transactions): $549.50
This update was shared with agents this via email and Pendo message on Monday, September 9, 2024.