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.
Car insurance has been around for drivers for decades. It is not a secret that it is a requirement of all drivers who want to drive the UK roadways legally. There are many choices when it comes to car cover and many drivers simply do not take the time to research the market each year. They simply renew their insurance policy and carry on. Now fresh eyes are being opened to the possibilities of a car insurance which is changing the entire market. This new type of cover is known as telematics pay as you drive car insurance.
The latest car insurance product to hit the market and turn heads of drivers in the UK is telematics car insurance. It is a low mileage car insurance and one which is unique to all other types of car insurance. Telematics is making it possible for drivers of all types to see new benefits which are available in car insurance.
There are several features of telematics car insurance which are making it quite attractive to all drivers in the UK. The first unique feature of telematics car insurance is the small device which makes it possible for drivers to demonstrate how safely they can drive a car.
This device is capable of many tasks which are important to the process of telematics car insurance. The most important task it takes on is the monitoring of driving habits. Habits like acceleration, braking and cornering are monitored and the data is collected within the small device.
Once an insurer sees the driver is carefully handling the car, they reward the driver with discounts applied to future monthly car insurance costs. Fresh eyes are now becoming familiar with telematics car insurance and realising several benefits.
Safety has never been specifically associated with the purchase of car insurance. And saving money has certainly never been associated with the purchase of car insurance. Cost has been on the increase for years and only recently have drivers started to see some relief from the high costs. Drivers have been searching for a new car insurance product for years to bring the price down and make cover more affordable.
Now, drivers are seeing some saving opportunities through the new car insurance product known as telematics car insurance. It is a limited mileage car insurance and many types of drivers are seeing benefits from its cover. Young drivers as well as mature drivers are making the new product their insurance of choice.
Telematics pay as you drive car insurance is creating saving opportunities for drivers in a method never seen before. A mobile phone size device is the key to saving opportunities. This device serves many purposes. It not only acts as a GPS enabled device but also monitors driving habits of drivers making it possible for them to demonstrate how safely they handle their car.
The performance of a driver through habits is a telling sign of how safe a driver handles their car. Habits like braking and cornering are important. So are habits like acceleration and overall speed above the posted limit.
Insurers use the data from the small device as a guide to rewarding drivers for safely driving, or not. Safe drivers are rewarded by insurers through discounts applied to future monthly car insurance costs.
Telematics car insurance is making a difference in the lives of UK drivers through exposing them to new opportunities.
The basis of all car insurance products has been support and assistance in the presence of car crashes. Drivers know when they are facing the high cost of car repair, insurance will be there to back them up and get them behind the wheel again as soon as possible. This has typically been the case, but now drivers are in need of more. They need more than just protection for when a car crash takes place. They need an insurance product which will work for them at times when there is not a car crash to rebound from.
Drivers are now able to purchase a car insurance product which works for them instead of just rescuing them. An insurance product has been developed with safety and saving money in mind. An insurance product is now on the market called telematics car insurance. It combines the presence of mind of safety and the benefit of saving money.
Telematics pay as you drive car insurance is an insurance product unlike any other. It utilises a small device which is installed in the insured car which monitors driving habits and makes it possible for drivers to prove they are capable of handling a car with safety in mind.
After insurers view the data collected by the small device a determination is made. If the driver is deemed safe, rewards are passed to them in the form of discounts applied to future monthly car insurance costs. Drivers simply are required to drive with safety.
An insurance product is now available which combines safety and saving money and it is called telematics car insurance.
Young drivers remain the most crash-prone group of drivers according to all driving statistics. After receiving their licence they are more likely to be in a car crash within the first six months after that than at any other time behind the wheel. Car crashes are a daily occurrence and many young drivers could potentially avoid them with better preparation. Now a car insurance product is able to provide that. It is known as telematics pay as you drive car insurance.
Parents are not able to keep a close eye on their young drivers immediately after receiving their licence. This is an unfortunate fact but one which parents must face daily and constantly try to improve upon. Whilst young drivers typically appreciate being left alone as they educate themselves behind the wheel, parents remain quite stressed most of the time.
Parents can become closer to their young drivers with telematics car insurance. This is possible due to the process of telematics cover which is unique to all other car insurance types. A small device is mounted on the interior of the insured car which is responsible for several tasks. The most important task is monitoring driving habits of the driver behind the wheel. These habits are evaluated by the insurer and then determined to be safe habits or unsafe.
The data evaluated by the insurer is placed online and then viewable to the driver. The driver has access to his or her own personal data which then makes it possible for them to understand weaknesses and strengths. Parents can now see the performance of their own young driver whilst behind the wheel. In this way, parents have access to their children like never before.
The telematics car insurance process is changing the industry. Positive change is now a reality.
Welsh roads have proven quite dangerous in recent years, but the number of deaths of young drivers has declined slightly in the last year. A National Statistics report pointed to a possible reason the number of 16 to 24 year old casualties has declined for the year 2012. The number of men drivers has potentially gone down for multiple reasons. The Welsh Government has made safety a priority and has specific goals of reduction in coming years.
A look at casualty figures displays an unfavorable outcome for drivers 16 to 24 through the years of 2008-2012. More than 25% of all fatalities between these years included young drivers. This remains shocking due to young drivers making up only slightly more than 10% of the population in this area.
Sarah-Jane Martin from Brake, the road safety charity commented on the factors leading to tragedy on Welsh roads, saying: “Traffic is the biggest killer of young people.
“Young drivers are the most likely to crash on roads because of a combination of age and inexperience, and too many young lives are being needlessly wasted.
“Young drivers are also responsible for causing deaths and injury among road users of all ages, so it’s vital urgent steps are taken to support young drivers to be safer.
“Brake supports graduated driver licencing to help protect vulnerable drivers from exposure to the greatest risks when they are still gaining experience, and we’re urging the government to bring this in as a priority.”
Financial woes continue for many as the financial crisis still is making an impact on UK households. Experts may be seeing a recovery but it has yet to ease the budget woes of many households that struggle to meet daily expenses. It will come as a surprise to many that a report has come to light that while the year has just started there are senior executives at major British companies that have already earned this year more than an average worker will have earned by the end of 2014.
The High Pay Centre concluded that chief executives with FTSE-100 firms earned approximately £4.3million in 2012 which equates to an average earning of £1,000 an hour. The average UK worker has an annual wage earning of £26,000. Executive pay wages have increased by 74% over the last ten years while average worker wages have remained flat over the same time period.
With the economy still tight, households are seeking ways to stretch their budgets. Some are repairing versus buying new, couponing and sale seeking can help and some are shopping for affordable car insurance to make keeping a car on the road cheaper. Car ownership and operation normally takes a large part of a household budget but it is necessary as it allows those in the household to function in their daily lives by getting them to school, work and to needed sources of medical care, food and clothing. By shopping for more affordable car insurance substantial savings could be found and experts are encouraging the consideration of telematics car insurance.
While most people in the UK have more than eleven months to work to fulfill their budget needs for the year compared to those finishing out “fat cat Wednesday” already earning more than most, it doesn’t need to be a defeating thought. Smart shopping, smart buying and smart saving can make a difference and it is the start of a new year to make changes that can make a difference.