Commenting on the Motor Insurers’ Bureau Report into young drivers, Johan van de Merwe, Managing Director of pay-as-you-drive telematics-based car insurer www.coverbox.co.uk said:
“When a driver takes out an insurance policy with a telematics insurer, we install a small box which records not only the distance the vehicle covers, but also the way in which the vehicle is driven – and where it is driven - and charge accordingly.
“This is incredibly useful for younger drivers – and rewards that majority who do drive sensibly rather than tarring them with the same brush as more reckless younger drivers.
“The equipment records many parameters – including acceleration, deceleration, speed, and so on - which helps us determine driving standards. Crucially, telematic insurers can also use the equipment to tell when a car is being driven outside safe dynamic parameters: heavy breaking and acceleration, and high lateral forces.
“One of the reasons telematics insurance is always going to be more accurately priced – obviously to the benefit of careful drivers – is because we have that absolutely accurate information about driving behaviour, which allows us to be far more discerning in terms of who we insure.”
Coverbox pay-as-you-drive insurance allows drivers to take out comprehensive cover paid for by the mile, with the price per mile varying according to the time of the day or night: off-peak, peak or “super-peak” times.
All Coverbox policyholders have a personal website enabling them to see precisely how many miles they are driving, and what the cost is. The technology behind Coverbox is based on proven equipment specified by several major car makers.
|
