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- Car Insurance – new style policies cut the cost
- Insurers are searching for new ways to bring down the costs of cover. Here are some of the ideas they've come up with.
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- What to do if you have an accident with an uninsured driver.
- Car Insurance. Involved in an accident with an uninsured driver?
- What to do if you have an accident with an uninsured driver.
- Using The Autograph To Get Cheap Motor Insurance
- Autograph is a device that helps you get upto 25% off your premiums. What is Autograph and how does it work? This article explains
SatNav Car Insurance
The spy in the sky system could be used to personalise your insurance premiums and may well cut your costs.
Insurance companies want to cut costs and so do you, so there is no need to pull in opposite directions. The current idea which should save money for the underwriters and may reduce premium costs for you is the black box. Yes, there is a big brother slant in it but a penny saved is a penny earned as the old saying goes, and who can afford to turn down a cost saving?
As stated above, this system may save you money or, depending on your driving habits, it may cost you considerably more than at present. Black box technology is the name of the game, except that in this case it isnt a game - the insurance companies are very serious about it, and it could become standard procedure for car insurance. (home insurance)
Although still undergoing testing, the information which it supplies to the installer is seen as crucial in determining risk and therefore in setting the cost to the motorist at an equitable level. Linking the price paid by the motorist to the actual risk of a claim sounds like a sensible idea, although hopefully if or when such systems come into general use it is to be hoped that the calculation of the risk will be refined to include the more subtle factors which are needed for accurate assessment. (car insurance information)
So how does it work? Most people must by now have heard of satellite navigation systems, which can tell you very accurately exactly where you are and the route you need to follow to get to your intended destination. The insurance system works on the same principle, and provides the insurance company with details of where your car has been, when and for how long.
A calculation is then done by the insurers based on road pricing with quiet rural areas priced much lower than urban roads, which will in turn be stepped up in price according to the usual density of traffic in the area being traversed. A time factor can then be added, so that rush hour driving is likely to be priced high, with the cost reducing for evenings and weekends, but very likely rising for late night/early morning journeys. (loans information)