When finding the right insurance policy for you there can be a lot to consider. As a new driver, you’ll likely find the costs are higher than average, as you’ve had less exposure to the roads and therefore are considered statistically more likely to be involved in an accident.
But what if we told you there’s a way around this? With telematics car insurance, you’ll get personalized coverage based on how you’re driving, not how others like you are expected to drive.
Read on to discover exactly what telematics insurance is, and why you should consider it.
What is telematics?
Telematics is location-based service that uses telecommunications and informatics to gather data based on your driving safety. Using a chip installed in your windshield or an app on your phone, Global Positioning Services (GPS) tracks whether or not you’re stopping too suddenly at stop signs, abiding by the speed limits, and even if you’re the one that’s driving.
This is similar to the technology used in navigation apps like Waze, and with the help of the nifty gyroscope that’s already installed in your phone, your insurer will be able to analyze detailed metrics with as much precision as whether your phone is in your pocket, on the seat next to you, or in a holder on your dashboard.
The location-based tech tracks your mileage and adapts your coverage based on this – as well as the other additional factors. Basically, you’ll only pay for how much and how well you drive, as statistically, the less you’re on the road, the less likely you are to be involved in an accident.
You can even access your data to see where you might be able to improve your driving skills, therefore lowering your premium as you become a better driver.
The beauty of telematics, is that along with all the other money-saving benefits we’ve mentioned, having your location services enabled at all times allows your insurance provider to know exactly where you are should you be involved in an accident.
This means you won’t have to worry about trying to figure out where you are, as help can be sent out directly to you.
As previously mentioned, it’ll also know whether it’s actually you driving or not. Cleverly, if your insurer is gathering the telematics data through an app on your phone, they’ll be able to put together a detailed enough picture to see all your driving patterns.
This means that if you get in an Uber or form of public transport where the driver is a bit more reckless than you’d hoped, this won’t have any impact on your policy! What’s not to love?
Is telematics right for you?
If you’re looking to save money on your car insurance, and are fed up with overpaying for premiums based purely on the fact you’re new on the roads – then look no further, because telematics is sure to be on your side.
However, if you’re looking to insure more than one car under your name, you could look at multi-car insurance, as this will allow you to cater for each individual policy, all in one place.
You could also find better offers if you’ve purchased an electric vehicle, as many insurers offer incentives and rewards for being more eco-friendly with your choices. Although these might cost more, and insurance premiums might be higher, you’ll find that you could save money long-term with electric car insurance.
It’s clear there are plenty of different options out there for you to explore. And whilst it’s always good to shop around and make sure you’re getting the coverage that’s best for you and your driving habits, as a new or young driver, telematics insurance could offer a range of benefits that just can’t be missed.