Discomark
27th February 2013, 09:22 PM
Talking to my Sister the other day regarding the high cost of insurance in the UK for young drivers. She said many insurers are now offering Black box trackers to reward careful drivers that agree to have there driving style monitored. Seems they start with 100 points but lose them for driving during certain hours, speeding, taking corners to fast etc. If they drop below 60 points they have to pay the full insurance premium which can be very expensive.
Seems to be catching on anyway so may be the way all insurers will go in the future, reward good drivers and punish the careless ones.
Not sure i'd like anyone monitoring my driving style but if I was 18 and could save a few hundred pounds I might agree to it!
Telematics insurance uses a small device fitted to the car (out of sight) to record information about how the driver is performing on the road. Statistics such as miles driven, speed, the type of road, the time of day and more are recorded.
Insurance companies can then assess this information to ascertain whether the person applying for insurance can be regarded as a safe driver or not.
A number of insurance companies regard telematics insurance to be the future of the industry, as it allows them to calculate accurate premiums based on specific individuals, and not how others on the road drive.
Drive IQ believes that one in four drivers will have a telematics insurance policy by 2020 as more drivers are made aware of the potential savings that can be made.
Citroen has a car that has it factory fitted.
Citroen first to fit telematics black box as standard | MotorTorque (http://www.motortorque.com/car-news/citroen-first-to-fit-telematics-black-box-as-standard-21374.aspx)
Seems to be catching on anyway so may be the way all insurers will go in the future, reward good drivers and punish the careless ones.
Not sure i'd like anyone monitoring my driving style but if I was 18 and could save a few hundred pounds I might agree to it!
Telematics insurance uses a small device fitted to the car (out of sight) to record information about how the driver is performing on the road. Statistics such as miles driven, speed, the type of road, the time of day and more are recorded.
Insurance companies can then assess this information to ascertain whether the person applying for insurance can be regarded as a safe driver or not.
A number of insurance companies regard telematics insurance to be the future of the industry, as it allows them to calculate accurate premiums based on specific individuals, and not how others on the road drive.
Drive IQ believes that one in four drivers will have a telematics insurance policy by 2020 as more drivers are made aware of the potential savings that can be made.
Citroen has a car that has it factory fitted.
Citroen first to fit telematics black box as standard | MotorTorque (http://www.motortorque.com/car-news/citroen-first-to-fit-telematics-black-box-as-standard-21374.aspx)