New Pay as You Drive Car Insurance in Testing
Compare.com have discovered that motorists by their thousands are currently testing out a new pay as you go car insurance scheme from Norwich Union.
The testees car is fitted with a device which cleverly monitors their every move, using GPS the insurer can monitor each journey that is made and billed for each mile driven.
This ground breaking new idea could cut car insurance premiums for motorists who seldomly use their vehicles, but the flip side is it could increase premiums for more frequent drivers.
The device shown in the image above is around 5 inches by 3 inches and records real time use of the vehicle, installed in the vehicle and sends the information to the insurer using mobile technology. The insurer then calculates the premium based on the agreed cost per mile.
American insurance company, Progressive has also tested this new technology across the USA.
Until this technology becomes available publicly here in the UK, why not compare car insurance with Compare Com?
Tags: car, compare, comparecom, insurance
