Car insurance has never been a product which has been linked with cost saving. As the last decade has proven, the cost of car insurance seems to have no ceiling and little resistance to increases. Although the last few years have given some relief to drivers with a slowdown in cost of car cover, higher costs are predicted to be coming again soon. Drivers need a proven car insurance product offering a cost saving scheme and not just assistance in the face of a car crash.
The latest car insurance product offering a built-in cost saving scheme is now available. It comes to the UK in the form of a product called telematics pay as you drive car insurance. This new insurance product is redefining what car cover is capable of and doing it with impact.
The cost saving scheme is centered on technology. The key piece of technology is located within the insured car and is capable of several different jobs. The critical job the small device is capable of is monitoring driving habits of the driver at any time they are behind the wheel.
The small device collects the data from monitoring driving habits and this data is accessible to the insurer. The insurer then evaluates the data and determines whether or not the driver is handling the car with safety. If the driver proves to be a safe driver, they become eligible to receive valuable discounts.
Drivers are now able to purchase car insurance with built-in saving schemes. The latest car insurance which is helping drivers save pounds each month is telematics car insurance.