Spending too much on insurance? Consider telematics

If you’re tired of ineffectually combing through a multitude of van insurance quotes looking for the most affordable options, industry experts say that you may want to turn to telematics technology, a new movement that has been growing in the UK that can provide seriously cheap insurance.

Telematics is an offshoot of satnav technology, where your vehicle is tracked by satellite in order to provide maps and driving directions. ¬†However, the technology has progressed to a point where the behaviour of drivers can be tracked much more closely than simply location, and all it takes is having your vehicle fitted with a little ‘black box,’ allowing it to gather data on your motoring habits, and then letting it send off daily reports to your insurer – with the results being cheaper rates if you can prove you drive responsibly.

The technology has been growing in popularity in the personal car insurance market, especially among younger drivers who have traditionally been subjected to eye watering insurance rates.  However, there are commercial van insurance providers that are also offering telematics-based policies, and for owners that rely on a fleet of vans to conduct business, cutting the costs of cover can lead to increased revenue and business growth.

Commercial van owners who employ drivers can also benefit from knowing that their employees are actively comporting themselves with caution and care behind the wheel, since the technology records how aggressively drivers take turns and whether or not the accelerate or brake in a safe, responsible manner.

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