In case you weren’t sure before, telematics insurance is definitely a policy to consider for your car.
When you take out car insurance with telematics, it comes with a wide variety of benefits to suit you as a driver.
Read below, where we’ve outlined the top seven benefits of telematics insurance, to bring you one step closer to choosing the right policy for you.
1. Premiums adjusted to driving safety
The main benefit of telematics insurance, which often entices drivers the most, is the fact that you can get lowered premiums based on your driving safety.
It’s usually the case for new or young drivers that your premiums are quoted higher, due to the simple, statistical fact that you’re more likely to be involved in an accident.
However, this can be disheartening for drivers of this demographic who are in fact safe drivers, and have lower chances of being involved in an accident.
With telematics, your premiums are based on the specific data collected from your driving, not any generalizations or stereotypes. Therefore, you have a fair and reliable way of displaying your driving safety to insurers, and securing lower premiums.
2. Insights into driving
Not only can telematics data be used to lower your premiums, but it can also help you to become a better driver entirely.
The technology installed in your car, or on your phone, will highlight a range of driver aspects, including – obeying speed limits, stopping in good time, and executing maneuvers correctly.
Whether you already see yourself as a good driver or not, there’s always room to improve on safety, and this data will show you all the areas where you can better your driving.
As a result, you’ll be a safer driver as well as having lowered premiums.
3. Tracked mileage
One of the other metrics that telematics software tracks is your vehicle mileage.
For most insurers, they’ll likely increase your premiums if they assume you’ll be driving your car more frequently – since this naturally increases your chances of having an accident.
However, telematics insurance can provide accurate data on how much mileage you accumulate, so your insurer will have an exact amount to base your premiums off.
Therefore, you won’t have unnecessarily higher premiums for predicted average mileage you don’t use.
4. Location-based software
Since telematics operates under location-based software, it means that you’ll always have your location tracked, wherever you are.
This is important when it comes to dealing with things like incidents. Let’s say you have a collision or you break down, you’ll likely need immediate roadside assistance sent out to you.
With your location-based software, you’ll be able to give an accurate pinpoint of your location, so assistance can be sent out faster and to a more exact location.
5. Evidence for incidents
Telematics is also crucial for aiding you in any insurance claims. If you’re involved in an accident, with either another driver or someone’s property, insurers may need to asses who was at fault.
With telematics, you’ll have clear data on your driving to submit as evidence, and the insurers can clearly see your driving behaviour regarding the incident.
This way, if you were driving safely, then your data should clearly display this to insurers, and they’ll be more likely to settle the claim appropriately.
6. Accurate assessment of driving circumstance
Another benefit of telematics insurance is that it can easily distinguish the different driving circumstances you find yourself in, as to always judge your driving, not someone else’s.
For example, you could easily opt for taking the bus one day, or need to take an Uber to your destination.
If your driver is not as cautious with their driving as you usually are, this won’t affect the data collected by your telematics – that is if the software’s installed on your phone, not in the car.
The software can accurately analyze each situation, and easily determine whether you were the driver in this particular instance.
As a result, you’re only ever assessed for your own driving.
7. Maintenance data
Maintaining your vehicle is a crucial aspect of driving, and telematics can expertly assist you in this area.
Since the technology analyzes various aspects of your driving, it can potentially pick up on any maintenance issues within your car, or certain operations which aren’t performing properly.
In turn, you’ll always be able to stay on top of your car maintenance, and not only keep your car safe, but save money on any maintenance issues which might’ve become more damaging and expensive if they went unnoticed.
Telematics insurance is a great option for all drivers, so be sure to look around for your own personalized policy, and secure all the benefits that come with it.