» Insurance premiums could fall with monitoring sat nav

It has been revealed that satellite navigation giant TomTom  has signed up with Motaquote insurers to bring a new monitoring sat nav to market, which could help drivers to cut car insurance costs.

As most drivers are only too well aware, the cost of insurance cover has soared over recent years, making it more and more difficult for drivers to run and maintain their vehicles. The cost of cover has become crippling for some drivers, particularly younger drivers with less experience on the road. However, there could be some good news for those who are prepared to take steps to reduce their car insurance cover.

It has been revealed that satellite navigation giant TomTom  has signed up with Motaquote insurers to bring a new monitoring sat nav to market, which could help drivers to cut car insurance costs. The idea behind the sat nav is that drivers will pay lower costs because the sat nav will monitor how they are driving. This will give drivers access to ‘Fair Pay’ insurance.

Drivers who consider themselves to be safe drivers will simply need to sign on with Fair Pay and will be given a special TomTom PRO 3100 sat nav, which will include “Active Driver Feedback” and “LIVE services”.  The data that comes from the sat nav will then help truly safe drivers to get reduced premiums based on their driving rather than on things such as where they live or their age.

Nigel Lombard, MD of Fair Pay Insurance, said: “We’ve dispensed with generalisations and said to our customers, if you believe you’re a good driver, we’ll believe you and we’ll even give you the benefit up front… unlike some other telematics-based schemes where you may have to prove your ability over a number of months.”

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