Telematics Car Insurance
Telematics Car Insurance is one of the solutions that helps meet the needs and requirements of young drivers who require car insurance. It not only helps improve your driving ability, but it can also help to reduce your insurance premiums, over time.
For a long time drivers have felt hard done by when their premiums are high due to the poor claims experience of other drivers - 'why should I pay for someone else's poor driving' was often the complaint of many drivers. Well, with Telematics Car Insurance, the insurance company is giving drivers the opportunity to show they are good drivers.
The benefits of having a Telematics Insurance Policy are that you can:
- Monitor your driving performance
- Become a more competent and conscientious driver
- Potentially reduce your premium at renewal (if you have achieved a good driving score)
Telematics (also known as Black Box Car Insurance) is a potentially cost effective solution to many young drivers’ insurance concerns and the costs they face. Here is how it works:
A black box device is fitted to your vehicle (by a Black Box approved fitter) more often than not, underneath your dashboard. The device is not large and it will not obstruct your driving in any way. The device will measure and report on your driving performance by tracking your vehicle, similar to how a GPS system works. From this measurement, your driving is then assessed and given a number which will represent your driving score. The types of factors that make up the score are based elements such as:
- Acceleration speed
- Smoothness of driving
All of this information can be accessed via your own personal online dashboard. Your dashboard will also provide you with tips on how to improve your driving performance and imrpove your driving score.
Finally, when you come to your renewal, if you have driven well throughout the year and achieved a good driving score, your renewal premium will take that into account.
Your Telematics Driving Data
What happens to your data? You can access the data via your personal online dashboard to check on your driving performance. Many people often worry that the data will be sold on – this is not the case. In our ‘Simplifying the confusion when it comes to Telematics’ blog post, we highlight:
“Your driving data is not disclosed to any third party except upon request from the police, should they need to access your data for legal reasons.”
You can rest assured that your data will stay safe and your personal driving habits will not be revealed to external sources.
To read the full article, click here.
Benefits of a Telematics Policy
Mileage Limits - You can select your annual mileage limit which will have an effect on the premium you pay. The lower the limit, the lower the premium...
No Curfews - There are no restrictions on the time of day / night you can drive however your driving score has a higher chance of improving when driving during the day.
24hr Claims Line - No matter what time of you day you have a claim, you can always report it as soon as possible. The sooner a claim is reported, the sooner it is resolved.
Track Stolen Car via Black Box - If your car is stolen, the tracking device within the black box will be able to locate your car via GPS.
Parent's Access to Dashboard - As a parent or guardian, you can also gain access to view your child's driving data. You can have a separate log-in to view their dashboard and check on their driving performance. It will also offer tips on areas of improvement.
We Can Help...
We offer friendly and informative advice as to how Telematics works, and the policy options available. Call us today and speak with one of our specialist advisors who can assist you further.
FAQ’s - Frequently Asked Questions
Question: Are there any age restrictions for this policy?
Answer: Yes, you have to be between the ages of 17 – 25.
Question: Is there a difference between Telematics and Black Box Car Insurance?
Answer: Essentially, no. Telematics is the technology used and offered within Black Box Car Insurance.
Question: How is the Device fitted?
Answer: An approved black box fitter will carry out the installation of the Black Box for you. This installation will be arranged at a place and time convenient for you and at no additional cost – you would have already paid for this, the price is included within your insurance premium.
Question: Will my policy be cancelled if I do something wrong?
Answer: No, unless in extreme circumstances. The policy is designed to allow for a certain amount of leniency. Essentially, the policy is designed to alert you when you’re going wrong and to highlight what you are doing right, therefore making you a better driver in the long run.
Question: What level of cover do I have on a Telematics Policy?
Answer: Although there are Telematics policies available for Third-Party cover, most policies offer Comprehensive cover. Comprehensive cover is the highest level of cover you can obtain. It includes all the elements of a Third-Party, Fire and Theft policy in addition to covering for all damages to your car, regardless of fault on a claim. This also includes cover for the third parties vehicle, should you be at fault.
Question: What is an 'Excess' amount?
Answer: In the event of a claim, your excess amount is the limit of what you will have to pay towards the total claim amount. It is the first amount of the claim. If you are not at fault, this amount can be claimed back at a later date.