Sat Nav Reviews
This month’s Sat Nav Reviews
TomTom Helps to Lower Insurance
If you are tired of having to pay the same insurance premiums that bad drivers are paying then TomTom just could have come up with the answer for you.
The SatNav manufacturer TomTom has paired up with Montague (The insurance broker) and designed a product “Fair Pay Insurance” which is designed to reward good drivers with lower premiums.
So how does this work? Well, the objective is to use the data from your SatNav to monitor your driving skills. Providing that your driving ability is of a high standard then this will be reflected in your insurance premium. This will be a replacement for the risk factors that are normally used to work out your premium i.e. age, gender, vehicle type and postcode etc.
Nigel Lombard, Managing Director of Fair Pay Insurance is quoted to have said “we’ve dispensed with generalisations and said to customers, if you believe you are a good driver, then we will believe you and give you the benefit up front.”
A link tracking unit will be fitted to cars to allow the monitoring of driving habits. The unit will communicate between the TomTom SatNav and Bluetooth. The information can then be viewed by the policy holder using a driver dashboard which is an online tool that displays details of the driver’s journey and driver behaviour.
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