Car Insurance
Online approach to insurance quotes trialed
Fri, 25 Nov 2005
A new approach to assessing car insurance quotes is currently under trial in the US.
The data logging system could save motorists thousands of pounds on their car insurance.
Drivers' motoring habits are monitored via a small data-logging computer in individual cars, which then examines how high the risk of an accident is. The data can then be used to work out how much drivers should pay for their car insurance.
The US trial, which has the potential to be launched world wide, gives access to various driver-specific information such as motorists driving for long distances, or long periods of time, on a regular basis, according to car buying website, askaprice.com.
Experts believe that the system may help to cut down on accidents, as people attempt to save money by driving carefully.
The current system in the UK uses a vast range of information to arrive at a risk assessment, such as the type of vehicle driven, the motorist's job and the area in which they live.
© Adfero Ltd
