Car insurance has been around for decades. It is a product which is required for all those who plan on getting behind the wheel. Drivers have no choice but to select one of the many options which have been around for years and are considered old style, or choose a product known as telematics which is breathing new life into an old market.
Telematics pay as you drive car insurance is a new insurance product which is completely unique to anything else available on the market. Telematics has redefined what car insurance can do for drivers and many are seeing significant benefits. It is the only car insurance product on the market with a built-in reward scheme.
The purpose of car insurance has now gone through a metamorphosis. It is now possible to save money with a new product, telematics car insurance, simply by driving with safety in mind.
The process of telematics car insurance involves high tech equipment which is GPS enabled. There is a small device which is mounted to the inside of the insured car. It is able to carry out a special function. It monitors driving habits like speeding, braking and cornering. These habits are evaluated by the insurer and dissected for proof of safe handling of the car.
Once the insurer discovers safe handling of the car, the driver becomes eligible to receive rewards. Rewards are presented to the driver in the form of discounts applied to future monthly car insurance costs.
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