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Speakers Corner


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I renewed my car insurance this week.


Forum Editor

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When discussing the premium with the insurance company I asked if there was any way it might be reduced. 'Well', said the person at the other end 'you might be interested in our Telematics pilot scheme'.

Intrigued, I asked for more information, and she went on to explain that this was a scheme whereby a monitoring device is placed in the car, and data is sent back to the company, telling them about my driving patterns. The idea is to gather information about how people drive, and at the end of the 12 month insurance period I could be offered a further reduction in my premium, if my driving has been such that it lowered my risk of an accident. I am guaranteed that the premium will not be increased as a result of any data recorded. No data will be passed to a third party without my consent, and then it would be anonymous and aggregated.

If I have an accident the device will detect the impact and send an immediate alert to the insurers, who will contact me by phone within an hour to ask if I need any assistance. If my car is stolen the Telematic device's data will be released to Police to tell them where the vehicle is.

For participating I was offered a 10% reduction on the premium, and as I was interested I agreed.

The device is fitted at home, and I have an undertaking that it will cause no damage or loss of performance to my vehicle. It's about the size of a mobile phone, and will tuck away somewhere under the dashboard. Within a few months I'll be offered access to the data that comes from my car via a special website.

Has anyone heard of this scheme, or is anyone currently participating? I haven't had the device installed yet - that will happen shortly.

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fourm member

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FE

I can see what you've done wrong. You've read the terms and conditions in full rather than just assuming it must be some devious scheme (probably backed by the CIA) to con you and get more money from you as a result of the reduced premiums.

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al's left peg

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I particularly like the bit " If I have an accident, the device will detect the impact"

The state of our bloody roads with all the potholes, some that can be compared to sinkholes. They will never be off the phone to you asking if you are ok!!!

I think it's a pretty good idea though. Like Bingalau has pointed out the good drivers are subsidising the bad ones so this should give a more personal quote for the individual. There has been quite a few negative comments about this on this thread but I think it will develop in the coming years to be compulsory, even to the point that a vehicle uninsured will be electronically shut down so it cannot be driven at all. Most drivers believe they are the best driver on the road and do not like criticism about their driving but would be shocked at how bad they actually are when presented with evidence of their everyday bad habits. My wife has a particularly bad habit which has caused many arguments in the car when she is driving. She will absolutely cane it away from a set of lights, even though another set of lights are changing red up ahead causing her to brake hard to stop at them. I always tell her to look ahead more but now just glared at. I will possibly look at having one of these items installed when my next quote is due, as it seems like a good idea to me.

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onthelimit1

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I tend to change insurer each year through one of the on-line comparison sites. Always manage a cheaper quote for the same level of cover than the renewal premium of existing insurer.

Think the devices are probably the way to go for steady drivers - sadly, I've never grown up and drive a supercharged Cooper 'S' (and my latest premium was £198!).

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bumpkin

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onthelimit1, I take it your user name does not apply to the speed limit then:-)

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Bing.alau

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onthelimit1. Is that £198.00 or is it £1981.00? If it is the former can you give me the name of your broker please?

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onthelimit1

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It is the former - I've never paid more than 240 for the Mini since I bought it 9 yrs ago. Currently with Saga, but will probably change next time.

My user name? I try to be (most of the time), but have recently attended a speed awareness course following a minor transgression!

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sunnystaines

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sounds a good idea i will ask in may when mine is due.

onthelimit did you get a good deal from saga as everything i have asked saga for has resulted in very high quotes.

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onthelimit1

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SS - I chose them via confused.com last year. Claim free for the maximum, so that helps.

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Bing.alau

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Saga have always given me very high quotes too. Travel insurance is the same with them. I know it is very comprehensive but very very high.

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namtas

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Ok if you are a perfect driver and never ever exceed a speed limit, even in error

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