Friday 27 May 2011

Pay how you drive car Insurance

New UK Driving Insurance scheme called "Pay how you drive" is targeted at drivers under 25.
In a nut shell if you're driving is not up to scratch you premiums will be higher than normal, if your driving is good your premiums will be low.


How does it work?


 It attaches a smartbox to your car that uses GPS technology to track how you drive your car.  This includes things such as cornering speeds and the time of journey.  The information is then collated and displayed on the website where drivers can log in to see their rating and are given performance reports.
Insurance premiums are calculated every 90 days and drivers can expect to see a discount of up to 11% if their driving is good.
The Co-Operative insurance group estimates 45% of drivers on this scheme will receive the 11% discount leaving the average policy at £1300.

The system has its disadvantages though, many people don't like to be monitored and some users have been complaining about it incorrectly taking data around mini-roundabouts as corners. A few bugs to sort out here really.

Overall, not a bad option in my opinion and something I'm going to look into.  I'm currently getting quotes in excess of 2 grand and I hope this can knock some of it off.






21 comments:

  1. being monitored all day long : check.

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  2. Money is tight though. We're used to it over here anyway with all the CCTV crap.

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  3. So you guys are always spied?
    How uncomfortable.

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  4. Hmm intresting.. thanks for sharing

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  5. That sounds like a bad idea to me, but if your car or phone already has GPS you can be monitored anyway, so it doesn't really matter.

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  6. I like the idea of cheaper insurance but, being monitored wherever i go; No!

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  7. i think it should be based more on your past experiences. Im 18, and I've been driving for two years now, never been in a wreck, fender bender, or had a ticket; a perfectly clean record. yet, my premium is still ridiculously high, even though the car I drive has 5 star crash ratings all around. this system is better. i wish they implemented this in the US

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  8. Cool blog man! keep up the great work!

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  9. totalitarianism is coming back

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  10. Why would you want a GPS system to track everywhere you go?

    Great! Like being the top surveillance country in the world isn't enough, the UK has to put tracking devices into cars...

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  11. Well, the discount is pretty big i could say..not a bad idea, but that just seems like too much work to me..

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  12. + how much would it cost? a gps + storing teh data etc...

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  13. Sounds interesting. I'd hate to have to appeal incorrect data though.

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  14. God damn that is some pricey insurance

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  15. A good system for good drivers!

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  16. This sounds quite fair, but will they be able to track where you go etc? There was a plan like this here in the netherlands some time ago, but I think it was more about car taxes. People that drove more had to pay more, instead of everyone paying the same amount, as it is now. There was loads of commentary then about the gps-tracking and stuff.

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  17. too much big brother for me.

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  18. Wow not bad, condidering some of my friends have had to pay £2000 for insurance this isnt too bad... doubt I would be able to afford it until after uni though! :P

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  19. nice dream, but then how will the insurance companies rip us off?

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