The insurance black box is gaining acceptance quickly...
Discussion
http://www.telegraph.co.uk/finance/personalfinance...
Hardly surprising,but now the non-box drivers are getting hit with premium increases.
Hardly surprising,but now the non-box drivers are getting hit with premium increases.
Well I had a black box for 2 years and I hated it. It was impossible to get a perfect score on it no matter how carefully you drive (my neighbour is a Police Officer with full response training had a go). You just end up either getting a bad score or driving in a way that is dangerous because you cant keep up with the general flow of traffic.
On the other hand it was the only option as all other Insurances were too expensive, so it did get me on the road and mobile.
On the other hand it was the only option as all other Insurances were too expensive, so it did get me on the road and mobile.
"Ian Hughes, chief executive of Consumer Intelligence, said: “Older drivers are to an extent helping to fund the premium reductions for younger motorists and need to ensure they are receiving the best value for money from their insurer.” "
Surely that's nonsense, the policies are individually risk-priced. It's not zero sum.
Surely that's nonsense, the policies are individually risk-priced. It's not zero sum.
The whole thing stinks of a scam.
If introducing black boxes statistically reduces accidents and results in lower premiums for that demographic, how does that translate into an *increase* for other drivers? The whole thing smacks of bullying other drivers into acceptance by just cran king up thier premiums regardless.
Fortunately the market is too diverse, and those insurers who choose not to introduce these things should end up with larger insurance books as people refuse to accept this stuff and switch insurers.
If introducing black boxes statistically reduces accidents and results in lower premiums for that demographic, how does that translate into an *increase* for other drivers? The whole thing smacks of bullying other drivers into acceptance by just cran king up thier premiums regardless.
Fortunately the market is too diverse, and those insurers who choose not to introduce these things should end up with larger insurance books as people refuse to accept this stuff and switch insurers.
Crippo said:
I wouldn't get a box on principle. Its an example of technology starting to rule us rather than the other way around. Just about everything I find frightening about the future crops up as an example in this situation
Things like this make me want to buy the badest, meanest m'fing car I can afford whilst it's still possible to actually enjoy driving, before every nano-second of our lives is controlled.Gaining acceptance = No.
Being systematically forced on everyone = Yes.
My insurance quotes rose a considerable amount this year for no real reason. No points. No accidents. The only way to get the premium down to where it should have been was to take a black box, at least if i wanted to continue using price comparison websites. I went to a certain red-telephone insurance company instead who negotiated a somewhat reasonable deal, without a box.
I have been driving for 8 years without having my insurer watching my every move. Why would I need to start now?
Being systematically forced on everyone = Yes.
My insurance quotes rose a considerable amount this year for no real reason. No points. No accidents. The only way to get the premium down to where it should have been was to take a black box, at least if i wanted to continue using price comparison websites. I went to a certain red-telephone insurance company instead who negotiated a somewhat reasonable deal, without a box.
I have been driving for 8 years without having my insurer watching my every move. Why would I need to start now?
When I renewed in November, I ticked the "Telematics premiums" option on whichever site it was I used just out of curiosity and the returned premiums were higher than those without telematics (not that I ever had any intention of having one fitted).
Even being 49 and driving a Volvo so I presume not in the target demographic for these things I was surprised that it would cost more to let them snoop.
Even being 49 and driving a Volvo so I presume not in the target demographic for these things I was surprised that it would cost more to let them snoop.
otolith said:
boombastictiger said:
Thing is what is the purpose of the box? If there is an accident can they use info on the box? if you speed will you be auto reported?
When you consider driving like a dick, you remember that your insurer is watching you. MKnight702 said:
I think it's more the case of if Miss Daisy thinks that your driving is inappropriate (ie taking bends at over walking pace, braking hard for children running out in front of you, driving over potholes, exceeding a speed limit) then the insurer can electronically cancel your insurance without notice.
What's the point of that? If the behaviour is not risky, there is no point in discouraging it. The ideal is not to cancel anyone's insurance, it is to retain business, take their premium year on year and not have to pay out any claims. MKnight702 said:
I think it's more the case of if Miss Daisy thinks that your driving is inappropriate (ie taking bends at over walking pace, braking hard for children running out in front of you, driving over potholes, exceeding a speed limit) then the insurer can electronically cancel your insurance without notice.
They're using it as a tool to identify drivers who are profitable. If it works they'll carry on doing it. If it doesn't work, they'll stop.Having to brake hard suggests nob driving to me.
otolith said:
"Ian Hughes, chief executive of Consumer Intelligence, said: “Older drivers are to an extent helping to fund the premium reductions for younger motorists and need to ensure they are receiving the best value for money from their insurer.” "
Surely that's nonsense, the policies are individually risk-priced. It's not zero sum.
No they aren't. Some risks are just uninsurable, so the realistic price can't be charged. House insurance in York riverside, or Tewkesbury. Burglary risk in tough estates. 17yo males in cars. It's a business, some is worth having but not all. If you run a pub and an old boy claims a table for 2 hours for his half a mild, do you tip him out because a party of 8 want a dinner and there's no room? No. The parties of 8 are great but you can't cherry pick every day.Surely that's nonsense, the policies are individually risk-priced. It's not zero sum.
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