Tag: telematics

Welcome your corporate overlord, get cheaper insurance

Posted on by News Desk

VAN INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 30 JAN 2015:

Well it’s official: the only real way to get cheaper insurance for your car or van is to sign on to one of those telematics-based policies that spies on you.

All right, yes I know you’re not actually being peeped on whilst you’re in the loo or something like that, but let’s be honest, shall we? These so-called “black box” car insurance and van insurance policies might offer you discount rates if you can prove you’re not a pillock behind the wheel, but you’re also letting a big corporation essentially monitor and record everywhere you go, not to mention when – and how – you get there.

Yes, I know that telematics is a particular boon for young drivers. Yes I know that these younger Brits can sometimes save as much as 20 per cent on their insurance costs – a kingly sum considering how much insurers charge anyone under the age of 23 to begin with. And yes, again, I know that encouraging younger drivers to be responsible behind the wheel is bloody brilliant, especially if these drivers know they’re being rewarded for their good behaviour. I just don’t bloody like the idea of a big, faceless corporation getting to keep track of exactly where my teenage daughter goes in her 12 year old Vauxhall Corsa that still cost more to insure than it cost to purchase.

So what’s the big deal if you’re leaving a paper trail as you motor about? If you’re not up to anything untoward you’ve got nothing to hide, don’t you? Besides – you’re in public, and you don’t have an expectation of privacy when you’re out in the open. That’s why CCTV cameras dotting cities like London aren’t even a bother to so many people nowadays.

Well bollocks to that I say. It doesn’t matter if I’m up to no good or I’m just having a lovely Sunday afternoon drive on some B roads – it’s nobody’s bloody business but my own where I go and what I do. If I want to share that with other people I’ll Tweet about it. I don’t care how much discount car insurance you’re offering me – just leave me the hell alone and let me listen to my Sade CDs in peace.

Insurers try anything and everything to save a few quid

Posted on by News Desk

VAN INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 2 MAY 2014:

Car insurance and van insurance providers are so obsessed with cutting costs that they’re willing to try anything – including the aid of their own customers.

You know that insurance companies have been turning over every last rock in an attempt to reduce their operating costs when they actually come up with a plan that will help both them and consumers. Well, that’s what’s happened this week, when one insurance provider has decided to move forward with a new programme that will offer a 10 per cent discount on a policyholder’s premium if they’re willing to fit a dashboard camera to their vehicle.

The idea is to provide better evidence in the event of car crashes, which cost insurers an arm and a leg. The 10 per cent rate drop isn’t too shabby either, and will be especially helpful to commercial van insurance policyholders that have a number of vehicles they have to keep on the road. On top of that, a dash cam is good for employers to keep tabs on their employees and how they comport themselves behind the wheel; whilst a telematics device can tell you quite a bit about a driver, having a video feed is even better.

So who cares about how this could be a terrible idea when it comes to the invasion of privacy, right? Sure you might say that the programme is voluntary, but that won’t stop the camera from capturing the action from people and vehicles outside the car or van that pass by. Not everyone actually enjoys having camera footage taken of them, despite the massive number of CCTV cameras spread across the UK like George Orwell’s worst nightmare.

Why are insurers so up in arms right now? Well that’s easy – new data from another major insurance provider found that fraud went up by nearly 20 per cent last year when it came to car accident claims, which means projections are it will be higher this year still. High fraud activity equals vast sums of cash being spent on spurious claims, so insurers are trying to head it off at the pass this year instead of just raising our rates like they usually do instead. Don’t worry, I’m sure they’ll still raise our rates this year too.

No reward for loyalty – what about good driving?

Posted on by News Desk

Van insurance news roundup: 7 days ending 14 Feb 2014:

Brits know better than anyone that van and car insurance companies don’t reward loyalty – but there are some out there that recognise good motoring habits.

Car and van insurance companies are notorious for holding on to their cheapest rates for new customers, routinely throwing their older customers under the bus by hiking their premium prices year on year. As a result, Brits have learnt to jump ship every year in order to get the best quotes they can – and a new research study reinforces this fact, as 57 per cent of British drivers are giving serious thought to switching from one insurer to another this coming year. Even more telling is that the worldwide average is only 40 per cent, acknowledging that the UK has some very disloyal motorists – by the hand of the insurance industry itself!

So insurers don’t reward you for you for loyalty – that’s just a well-established fact at this point. However, there are some insurers that will actually reward you for good driving. Anyone that makes a living on the road and is in need of commercial van insurance is likely to be quite keen to check this out: it’s called telematics insurance, and it’s been growing in popularity because you can get around the normal insurance bollocks and get some deep discounts if you can prove you’re worthy of them.

The technology is simple, as it’s based on the tried-and-true satnav: a telematics device (or a smartphone with an appropriate app running) keeps track of your acceleration, turning, braking, and other motoring habits, then transmits the data to your insurer. It looks at your performance periodically and if the information reveals you’re a careful driver, your insurer drops your premiums to compensate. Of course, if you’re a crap driver you’ll see your rates go up, but you’ve earned that as well haven’t you?

But think about this: if you spend hours behind the wheel of y our van, you’re likely to be a very careful driver. Your vehicle is your livelihood after all, so it’s in your best interests to actually keep your wits about you, and you should be rewarded for that diligence! It’s also ideal for younger drivers as well, as you can throw off the yoke of statistical analysis and prove not all younger drivers are complete rubbish. Some younger Brits have saved upwards of £430 on their annual cover, and that’s no laughing matter is it?

Leading insurance comparison site announces new panel member

Posted on by News Desk

One of the nation’s largest insurance comparison sites recently announced that a new insurer – a telematics specialist – has joined its panel.

One of the most in-demand types of vehicle insurance due to its ability to save drivers of both personal and commercial vehicles on their premium payments, telematics-based insurance records the behaviour of a driver whilst behind the wheel, awarding them with lowered premiums in exchange for responsible driving. Van insurance policyholders have been very interested in the technology, as it can also be used to provide evidence in cases concerning duty of care, as information such as how fast a commercial vehicle was traveling can be used to settle legal disputes.

The comparison site’s newest insurer, a firm that has specialised in telematics insurance primarily for personal motors, offers a range of options to its customers. A driver taking out insurance with the firm gains 6,000 miles for the year, with more miles available for purchase later, while safe drivers are rewarded with an additional 100 miles as a bonus each month and offers lowered premium prices for any safe driver that renews their policy after the end of the year.

The new firm joins three other telematics-based providers on the comparison site’s panel, a change that was made to provide peace of mind for customers, says the website’s spokesperson, Gareth Kloet. The comparison site was pleased to be able to offer a larger range of choice for those customers looking for telematics-based policies, Mr Kloet added.

Meet your duty of care through telematics

Posted on by News Desk

While using the technology can bring excellent benefits such as reduced commercial van insurance premiums, there are other ways that switching your insurance policy to a telematics-based one – including meeting your duty of care responsibilities.

50 per cent of larger businesses operating in the UK that make use of large fleets of vans and other commercial vehicles are using the satnav-based technology in order to minimise their fleet risk while also meeting the duty of care requirements for their firm, according to a new YouGov survey. The research study questioned 100 chief financial officers, controllers, and financial directors for British firms that employed more than 1000 workers, discovering that fully half used telematics in their fleet vehicles in order to confer upon themselves extra levels of legal protection.

Firm directors are responsible to make sure all vehicles used by their employees whilst on the job are both insured properly and are roadworthy – and with health and safety legislation becoming more strict over the past few years, avoiding incidents that could lead to costly fines has become very important to many businesses, especially larger ones. Whether your vehicles are owned by the company or are owned by employees and used to conduct business, it’s simply legally and financially irresponsible to not have an auditable and comprehensive motoring policy set in place, motoring experts say.

One such driving expert, Keith Allen, commented on the results of the YouGov survey, remarking that it was ‘quite encouraging’ to see how many large-scale firms have taken steps to make their commercial fleets safer by adopting telematics-based insurance policies.

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