COVERBOX
PAY AS YOU DRIVE INSURANCE
PRESS RELEASE
January 12, 2012.
WHIPLASH CLAIMS: THOUSANDS OF CARS ALREADY FITTED WITH THE TECH TO MEASURE LEVEL OF IMPACT.
Technology which can measure the level of impact in traffic accidents – and help determine the likelihood of whiplash injuries – is already installed in thousands of vehicles insured by pay-as-you-drive telematics-based car insurers.
When insuring a vehicle, Coverbox, which pioneered the latest generation of telematics insurance technology, installs equipment which tracks every single movement of that vehicle.
Commenting on government plans to address fraudulent insurance claims for whiplash, Johan van de Merwe, Managing Director of pay-as-you-drive telematics-based car insurer Coverbox, said:
“When a driver takes out an insurance policy with a telematics insurer, we install a small box which records the distance the vehicle covers, and charge accordingly.
“But the equipment also records many more parameters – including acceleration, deceleration, speed, and so on - which helps us determine driving standards. But telematic insurers can also use the equipment to measure the magnitude of an impact which can serve as a very useful guide in distinguishing claims needing investigation from those where a high probability of whiplash exists.
“One of the reasons telematics insurance is always going to be more accurately priced – obviously to the benefit of careful drivers – is because we have that absolutely accurate information about driving behaviour, which allows us to be far more discerning in terms of who we insure.”
Coverbox pay-as-you-drive insurance allows drivers to take out comprehensive cover that is paid for by the mile, with the price per mile varying according to the time of the day or night: off-peak, peak or “super-peak” times.
Over-23s are charged according to rush hour (Mon to Fri 730am – 930am & 430pm to 600pm excluding public holidays) or off-peak use, but under-23s are also subject to a “super-peak” charging structure: Friday, Saturday and Sunday 1100pm to 500am, and public holidays 1100pm to 500am.
All Coverbox policyholders get free theft tracking – which would be at least £200 more on top of a traditional insurance policy – in addition they have a personal website which enables them to see precisely how many miles they are driving, and what the cost of those miles is.
The technology behind Coverbox is based on proven equipment specified by several major car makers, and means customers will also have the additional peace of mind of theft tracking: in virtually all cases, Coverbox can track and locate the car if it is stolen.
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