Car insurance has many complexities around it and one of the newest ways to pay for your premium is ‘pay as you drive’ style polices. Various schemes are out there but they generally involve a GPS system that tracks how you drive, how far you drive, time of driving etc and calculate your premium accordingly. With this being newer tech, many of us simply don’t know if this type of policy would be good for us. Worry not, for two guides have been published!
Pay How You Drive Motor Insurance and Selling Telematics Motor Insurance Policies guides are available from the ABI at: http://www.abi.org.uk/Publications/Publications_List.aspx
Andrew Smith, Cobra UK managing director said: “We are market leaders of telematics technology aimed at reducing insurance premiums and these latest guides from ABI and BIBA will help bolster consumer and industry confidence in such technology. We’re seeing more interest in telematics as drivers realise the technology can not only help reduce their motoring costs but also support them in the event of an accident by providing evidence of driving patterns up to the point of incident.”
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