In-Car Tracker Judges Your Driving to Save on Insurance

In-Car Tracker Judges Your Driving to Save on Insurance

by David Redmond on 20 Jan, 2011

CoverGirl Car Insurance, a specialist insurance provider catering specially for women, is offering women the chance to get low cost car insurance based on new technology.

Premium holders will have their car fitted with a device known as a Clear Box that tracks various aspects of your driving such as speed, mileage, whether it is day or night time. In keeping with similar policies that reward safe drivers, or drivers who avoid travelling during the day time, CoverGirl’s new policy will use the data from the Clear Box to reward careful drivers with low cost car insurance next time they renew.

The policy offers a great way for women who want to lower the cost of their car insurance, as well as a motivation to drive safely. Although CoverGirl is the most high profile provider using the technology at the moment, it will be interesting to see what the takeup amongst other providers will be and how much drivers actually end up saving as a result of good driving.

Charlotte Halkett from CoverGirl, commented “Previously, pay-as-you-drive car insurance schemes have just bluntly tried to keep their policyholders off the roads during night-time hours – usually between 11pm and 5am. Typically, the car insurance holder pays an extra charge for driving late at night or early in the morning.”

In a market where safe drivers often feel as if they’re being penalised for other people’s mistakes, a policy like this is most welcome and could spell a new standard of low cost car insurance for safe drivers.

About the Author

David Redmond

David Redmond is a Partner of Don Gilliard Finance Group. He is a fee-only, independent financial advisor and financial planner. For over 15 years, he has been helping individual investors and their families realize their investment goals.