The car insurance industry has been under siege from higher costs for decades. In recent years costs have started to pull back and fall. But now there is evidence costs are set to increase in the coming months which is causing stress and more burden for families with a set budget. Inflation is not out of control but with an increase in car cover cost coming, families are bracing for possible struggles in the near future.
Telematics car insurance could be the relief the car cover industry needs to help fight the coming rise in cover cost. It utilises technology which has been around for years but is just now being applied to the car insurance industry.
The technology includes a GPS enabled device and a personal online dashboard which is accessible to all drivers who simply have to log on. The GPS enabled device is installed in the interior of the insured car and is necessary to the cover which is telematics car insurance.
Telematics car insurance is being called revolutionary to the industry by some as traditional car insurance is being referred to as old style and old fashioned. This new type of car cover is bringing potential relief to many drivers who have been battered with high cost for years.
Now driving safely is the only thing it takes to potentially save money. The small device which is installed in the insured car monitors driving habits like braking and cornering. Acceleration as well as the times which the car is being driven is also noted by the device.
This device makes it possible to save money by providing data the insurer uses to reward drivers with discounts. This is helping drivers potentially save money and is bringing relief to a battered industry.