Car insurance has reached a milestone. It is no longer a product which sits idle at any time. It used to be a product which drivers constantly relied upon for support and financial assistance after a car crash or similar event. Now, thanks to a new product known as telematics car insurance it is no longer a product which ever sits idle on the sidelines and has periods which it does nothing, although traditional car insurance can seem like this at some points.
Telematics pay as you drive car insurance is a game changer and the car insurance industry will never be the same. Telematics car insurance is being called revolutionary due to the process it uses to cover all drivers.
The process it uses is just that, a process. A small device is installed in the insured car which makes the cover possible. It is a GPS enabled device which does so much more. It monitors driving habits like acceleration, braking and cornering. The device also notes the time of day and the types of roads the car travels on when taking journeys.
The small device is totally unique to the industry although the technology has been available for some time. The device is marking a great time in car insurance. It is marking a great time of progress for what car insurance is doing now.
Telematics car insurance is more than just car cover. It represents what is next in car insurance. Drivers are now able to purchase a car insurance product which enables them to potentially save money and become a better driver all at once.
Car insurance policies should not hold a driver’s loyalty. Rather than holding onto an old policy year after year, a driver should seek a new policy that offers a more affordable rate. This is especially the case with the latest information coming from the Association of British Insurers revealing that the average cost of a policy with comprehensive coverage has dropped in one year by almost 9%. Rather than sticking with a policy that was purchased with higher rate offers from a year ago or more, shopping could offer a savings.
Experts suggest that renewal time trigger a driver to shop around for a new policy. Annual coverage needs can change year to year and it is therefore a good time to consider a new policy that more adequately meets the coverage needs of the driver. Renewal time usually brings increases in premiums which should serve as another stimulus to shop around for a new policy.
Starting the shopping process by considering telematics car insurance could save time and offer substantial savings. Telematics offers possible savings opportunities for many drivers including young drivers. Drivers are encouraged to review telematics car insurance policies and choose one that best matches their needs and driving habits. Some policies offer savings for driving safely during the term of the policy while others offer discounts for low mileage drivers. Narrowing down choices by the possible savings opportunities associated with the policy that best matches the driver’s driving habits is a good place to start.
Online shopping is fast and easy when it comes to purchasing a telematics car insurance policy. Despite the need for installation of a GPS unit for driving data collection, the installation does not have to be immediate. Grace periods are offered by providers as they coordinate the professional installation to be completed at the driver’s home or workplace.
A new policy at the cheaper premiums being offered on today’s market should be a consideration of all UK drivers. Starting the search online will make the process simple and first seeking a match with a telematics car insurance policy could offer the opportunity for substantial savings.
Telematics car insurance remains a mysterious product on the market. It is suggested by experts as the product to explore when seeking out a new policy as renewal time nears. It is the product suggested for young drivers to allow more affordability of keeping a car on the road. It is also discussed by researchers as being a tool to help young drivers stay safer on the road. As more is revealed about the product then more questions arise for how can a car insurance product offer so many benefits?
Telematics car insurance is unique due to the GPS unit that is installed into the insured driver’s car to collect driving data. The data is used for risk assessment to determine cost of a policy. The opportunity exists for a driver to gain savings by driving safe and proving they are worthy of low risk rates from the provider.
Providers coordinate the installation of the GPS unit with a professional at the driver’s workplace or home. Most car models can have the unit installed within an hour. It is installed out of sight and neither driver nor passengers will be aware of the unit within the car. However, the little out of sight GPS unit is a valuable partner in delivering a new type of car insurance to drivers in the UK.
Due to the monitoring of the driver for safe driving habits for the purpose of determining policy costs, telematics car insurance is a tool for keeping young drivers safer on the road. This makes it popular with parents that have peace of mind from a car insurance policy with the benefit to keep their young driver ever conscious to be a responsible and safe driver.
Telematics car insurance is truly a simple, fair and unique car insurance product. The only secret to the coverage is that it is surprising that there are still drivers on the road that haven’t switched, yet.
Telematics car insurance has risen to the top and there is no sign that the car insurance product will not continue to grow in popularity for years to come. The benefits of finding coverage with a telematics car insurance policy are many while there is also the possibility for substantial savings. Experts encourage that drivers shop around and look for a quality policy at a more affordable rate when renewal time comes around and to start with shopping for a telematics policy.
The car insurance uses a GPS unit installed into the car of the driver to collect data to be used for risk assessment. The data will allow the provider to determine if the driver is a high risk or low risk driver to offer coverage and that will in turn determine the cost of a policy. By driving safe, a driver has the opportunity to prove they are worthy of low risk rates.
According to the British Insurance Brokers Association, telematics car insurance has increased by 61% since June 2012 to December 2013.
Telematics car insurance usually is prepaid in bulk miles for coverage for the number of miles expected to drive. This “pay as you drive” insurance opportunity allows for easy budgeting and should more miles be needed, a driver can quickly top up for more coverage. Young drivers are often mentioned as the most likely group of drivers to benefit from telematics car insurance but the truth is that many drivers can benefit and all should consider the product when seeking out a new policy for a switch.
Justin Bieber was arrested last week in Miami for a list of offences of which one was that he was drag racing in a residential area. However, it is being widely reported that the drag racing offence may have to be dropped thanks to the data recorded by a telematics device that was installed in the Lamborghini Gallardo LP550-2 that he was driving. The company that lent the car to the pop star stated that the GPS driver data collecting device in the car revealed that the speed of the car reached 30 mph at the time of the drag race event which contradicts the police report that the cars were traveling at close to 60 mph at the time of the race.
The same information is being reported by the company for the Ferrari 16M that Khalil Sharieff was driving in the lane next to Justin Bieber.
Telematics data that is collected by a GPS unit installed in the car can be used by providers of telematics car insurance for many purposes. One of which is to determine risk assessment and therefore premium costs for car insurance. The same data can be used to prove fault in an accident and it can be reviewed online privately by a driver to determine how well they are doing at being safe while driving. That information can be helpful to a new young driver assessing their own skills behind the wheel. The GPS unit can also be used to locate a stolen car in the event of theft.
Car insurance rates have dropped in the last 12 months and much of the reason is due to a crackdown on false whiplash claims. As those claims have declined, then the cost usually bared by all insurers has declined offering more affordable car insurance rates. With the lower rates came a more competitive market between car insurance providers shopping for drivers to make a switch. Better and better rates and policies have been put on the market and consumers have benefitted.
Experts have long encouraged drivers to use renewal time as an opportunity reminder that a new policy should be sought. With most renewals bringing with them an increase, it is a good time to shop around for a new policy of quality and better affordability.
It is because of the cheaper rates that a driver should consider shopping for a new policy and a switch. Last year’s policy has last year’s rates and there could be cheaper car insurance rates to be found by just shopping quickly online. With so much to gain and less to lose it makes sense to consider a switch.
It is important for drivers to consider their new policy be one of quality as well as affordability. A car insurance policy is meant to give a driver peace of mind and a financial safety net in the event of an accident. Therefore it is important to seek out needed coverage that is quality strong when shopping for a new policy. Both quality and affordability can be found with telematics and that is the product that experts suggest be the first consideration when shopping for new coverage.
Traditional car insurance is now being called by some as old fashioned or old style. The normal type of cover is now being passed over for more high tech insurance. This new high tech car insurance is known as telematics pay as you drive car insurance. This new cover is becoming more popular as the months pass and for worthy reasons.
Telematics car insurance is signifying progress within the car insurance industry. This progress is being marked by the ability for car cover to do more for drivers than just be there in the event of a car crash. It utilises technology only now being applied to car insurance. This high technology has been around for several years but until only recently has it been applied to the car insurance industry.
A device known as a POD or personal optimisation device is installed in the insured car. It is responsible for the key new features which makes telematics car insurance such a hot item. Features like being able to drive with safety and be rewarded for it is just the beginning.
The installed device monitors driving habits like braking, cornering and acceleration. Other habits are monitored as well and go into the ability for insurers to reward drivers the way they do.
As drivers are demonstrating safe driving habits, they are becoming eligible to receive rewards from insurers in the form of discounts applied to future monthly insurance costs. Drivers see these discounts as valuable as savings affects all family budgets.
Car insurance is now seeing progress like never before in the form of telematics car insurance.