Insurer introduced monitored driving for young drivers

opinion guy

Spotted this story on the bbc:
http://www.bbc.co.uk/newsbeat/13549733

Basic idea is 'Pay how you drive'.
They install a box in your car that monitors acceleration braking etc etc etc and adjust your policy every 90 days depending on how you drive.
If you behave you an get an 11% discount and if you misbehave you can get a 20% loading.

But:

Insurance Guy wrote:

However, if a driver drives at a speed that would cause them to get an immediate ban, 110mph on a motorway for example, then we would cancel the policy.

What do ye think boardsies ??
Seems to me that the discount for good behaviour is too small. This is based on an average £1200 policy. 11% is not much discount for having your every movement monitored I would feel. I'd also like to see the actual stats behind how much good drivers cost them in terms of claims versus bad drivers.


Edit:
I guess the reason why I started this thread is that I fear that this kind of thing will eventually become the norm. If this successful for that company (i.e. they make more money) all the insurers will start to cotton on to it. Eventually it will creep from the young drivers into all age groups under the 'incentive' of minimal discounts. All it takes is a proportion of people to buy into it and eventually it will become mandatory.

It seems like the start of a slippery slope to me

Reloc8

Mmm...the 20% load is also not all that high but then again I can say why it would be said that as a matter of fairness the reward should match the increase - or they appear to be effectively profiting off bad driving notwithstanding no accident which is a bit hooky on the face of it.

In principle though - great idea. I'd sign up for it if eligible.

Chnandler Bong

Grat another "boy-racer" bashing thread :rolleyes:

Eric Cartman

Possibly one of the worst ideas ever.

Minimal discount
Invasion of privacy
Punishment for the little mistakes everyone makes
Somebody tampering with your car

wouldnt be my cup of tea at all

Reloc8

How is it a boy-racer bashing thread ?

Its about a method of drivers lowering their insurance. There's no bashing of anyone.

I'd have one and I'm 33.

Do you just not like the idea that if this comes available on the Irish market and you don't have one a) you might be made to get one (I don't know if you're an actual eh boy-whose-insurance-is-paid-by-someone-else or b) you'll pay more for insurance than someone who does ?

Eric Cartman wrote: »

Possibly one of the worst ideas ever.

Minimal discount
Invasion of privacy
Punishment for the little mistakes everyone makes
Somebody tampering with your car

wouldnt be my cup of tea at all

Its all optional and the installation is a mobile-phone sat-navvy type thing.

Little mistakes everyone makes ? Exceeding speed limit, tearing around corners...we're not talking about getting into the wrong lane coming to a junction or cutting out here.

Berty

Insurance companies are out to make money, lets not forget.

Dangerous to award them the ability to change the terms as they see fit.

Dempsey

Nobody is perfect on the roads and the insurances companies know it as they wouldnt be in existence otherwise! 11% Discount and 20% loading seems like another way to increase premiums for young drivers imo. The discount should be much higher than the loading to encourage young drivers to be more responsible but at the moment it seems like they will look for any excuse to load the premium.

I'd consider it a fair compromise for a young driver thats been involved in a major accident/claim but not for someone starting out.

Berty

Oh yeah. Aviva/Hibernian offer 50% discount on completion of their driving thingamajig. Nobody ever gets 50%.

This BBC Story has a company basically, IMO, whom are attracting over the young folks, tracking them knowing only too well what they will do, and then load their premiums.

Bollocks I say.

BTW, I have a tracking system in my car monitored by my boss so I'm well used to it.

opinion guy

Eric Cartman wrote: »

Possibly one of the worst ideas ever.

Minimal discount
Invasion of privacy
Punishment for the little mistakes everyone makes
Somebody tampering with your car

wouldnt be my cup of tea at all

Yeah I agree

Heroditas

Berty wrote: »

Oh yeah. Aviva/Hibernian offer 50% discount on completion of their driving thingamajig. Nobody ever gets 50%.

And provided your engine size is under a certain CC, 1.6L isn't it?

Sparkie93

i think its a good idea for people that are the only ones driving their car what if your sharing with someone? and id say people will find a way to tamper with it

Eric Cartman

Heroditas wrote: »

And provided your engine size is under a certain CC, 1.6L isn't it?

yeah was going to do it till i found that out , there seems to be no discount for young people in big cars at all

Daegerty

massive invasion of privacy and my car or anything I put in it shouldn't be ratting me out to the law or the insurance company.

Marty McFly

Reloc8 wrote: »

Little mistakes everyone makes ? Exceeding speed limit, tearing around corners...we're not talking about getting into the wrong lane coming to a junction or cutting out here.

So your a 100% perfect driver I take it? Never exceeded the speed limit? Took a corner in a slightly agressive manner when late for work? People make mistakes on the road all the time, and you can be guarannteed if you on a road of 60kmh speed limit and you go 68 theyd hit you with that 20% load. I wouldnt imagine there be to much lee way in there thinking.

CiniO

opinion guy wrote: »

Spotted this story on the bbc:
http://www.bbc.co.uk/newsbeat/13549733

Basic idea is 'Pay how you drive'.
They install a box in your car that monitors acceleration braking etc etc etc and adjust your policy every 90 days depending on how you drive.
If you behave you an get an 11% discount and if you misbehave you can get a 20% loading.

But:



What do ye think boardsies ??
Seems to me that the discount for good behaviour is too small. This is based on an average £1200 policy. 11% is not much discount for having your every movement monitored I would feel. I'd also like to see the actual stats behind how much good drivers cost them in terms of claims versus bad drivers.

If they installed such thing in my car, I would probably have my policy cancelled within the hour, and refused to get any insurance by any insurer for next 10 years.

Without it, I pay less than most of people in that country and have 8 years claims free driving.

dr.fuzzenstein

Eric Cartman wrote: »

Possibly one of the worst ideas ever.

Minimal discount
Invasion of privacy
Punishment for the little mistakes everyone makes
Somebody tampering with your car

wouldnt be my cup of tea at all

Spot on.
It's just an excuse to say "oh, you braked a bit hard there and sped up to quickly here, that'll be a few extra quid you'll be owing us".
It's simply so they can have another lame excuse to rip off drivers even more.

flash1080

There are situations where it may be necessary to accelerate quickly or brake hard, it doesn't make sense to punish someone for it.

opinion guy

flash1080 wrote: »

There are situations where it may be necessary to accelerate quickly or brake hard, it doesn't make sense to punish someone for it.

Exaclty - sudden braking is one of the things you do to avoid crashes!!!

darragh o meara

Was this not tried before by axa? Can't have been much of a success as I haven't heard of it in years.

HumpM

darragh o meara wrote: »

Was this not tried before by axa? Can't have been much of a success as I haven't heard of it in years.

Some info

http://www.thejournal.ie/call-to-put-speed-monitors-in-all-new-vehicles-121123-Apr2011/

http://www.tfi.ie/traksure.htm

http://www.boards.ie/vbulletin/showthread.php?t=147825

In 2003, car insurance provider Axa launched a pilot scheme called Traksure. Under the scheme, young drivers could secure discounts of up to 40 per cent off their premiums over a three-year period in return for allowing a speed monitoring device to be fitted to their car. The monitoring was to “identify and reward” drivers who drove within the speed limit.

The Professional Insurance Brokers’ Association of Ireland told TheJournal.ie that Axa had since discontinued the Traksure scheme and there was not a similar speed monitoring discount scheme on offer from insurance companies in Ireland at the moment.
Axa Ireland has not yet replied to enquiries about why the Traksure scheme was discontinued.

mondeo

darragh o meara wrote: »

Was this not tried before by axa? Can't have been much of a success as I haven't heard of it in years.

Yes one of my friends had an AXA tracking box in their car back in 2002ish. It had some sort of database that logged speed limit zones but alot of them were wrong. My friend kept getting warning letters from Axa about cancelling his policy for exceeding the speed limits on roads for where a speed limit post didn't exist etc. You had to buy the unit of Axa which I believe was 700 before you even payed for your actual policy.

opinion guy

mondeo wrote: »

You had to buy the unit of Axa which I believe was 700 before you even payed for your actual policy.

:eek::eek:

Dempsey

And in the Celtic Tiger era, there were people that paid it just so they could be ripped off!

vibe666

if it was done properly on a voluntary basis then i think it's a great idea for those young people who don't make a habit of driving like nutters to get the cost of their policy reduced for driving more safely than those who are likely to be a bigger insurance risk.

i dare say there's even a few out there who would go out of their way specifically to change their driving habits if it saved them a bunch of dosh off their policy and if they did drive conservatively, they could probably afford to insure a significantly better can than they would have otherwise previously been able to afford paying full whack for their policy without it.

Vertakill

Sure while they're at it, they may as well install a giant spring loaded dildo in the base of the drivers seat that triggers when you break the speed limit.

Ridiculous.

Del2005

The problem with it is that it'll be GPS/phone tower based. I've driven in loads of fields according to my GPS when I've been on the road. How will they know if I braked too hard for a corner if their GPS system has it away from the actual corner. Till GPS exactly matches the roads it's unworkable.

Don't worry this will be in all cars in a few years when they eventually bring in pay as you drive.

opinion guy

Vertakill wrote: »

Sure while they're at it, they may as well install a giant spring loaded dildo in the base of the drivers seat that triggers when you break the speed limit.

Ridiculous.

:D:D

Testament1

Its a retarded idea simply because its primarily a speed tracker. Staying within the speed limit doesnt automatically make someone a safe driver. People can still do incredibly stupid, unsafe things while stayin below the speed limit.

Reloc8

luvbulmers01 wrote: »

So your a 100% perfect driver I take it? Never exceeded the speed limit? Took a corner in a slightly agressive manner when late for work? People make mistakes on the road all the time, and you can be guarannteed if you on a road of 60kmh speed limit and you go 68 theyd hit you with that 20% load. I wouldnt imagine there be to much lee way in there thinking.

I don't exceed the speed limit.

luvbulmers01 wrote: »

Took a corner in a slightly agressive manner when late for work?

How would driving badly around a corner get you there significantly quicker ? Seriously.

You also seem to be missing the point that this a voluntary option - no one is advocating that it be imposed on drivers against their will.

Testament1

Reloc8 wrote: »

I don't exceed the speed limit.


How would driving badly around a corner get you there significantly quicker ? Seriously.

Theres a difference between taking a corner fast and taking a corner badly. Also I refuse to believe that you've never crept over the speed limit a bit unless you are in fact a machine.

opinion guy

Reloc8 wrote: »

You also seem to be missing the point that this a voluntary option - no one is advocating that it be imposed on drivers against their will.

Its voluntary for now.
My concern is that if the insurers start making decent cash out of this it will be extended and eventually in years to come become mandatory

Reloc8

opinion guy wrote: »

Its voluntary for now.
My concern is that if the insurers start making decent cash out of this it will be extended and eventually in years to come become mandatory

I agree that could happen - I'm not in favour of it being enforced on people.

ShadowHearth

Reloc8 wrote: »

How is it a boy-racer bashing thread ?

Its about a method of drivers lowering their insurance. There's no bashing of anyone.

I'd have one and I'm 33.

Do you just not like the idea that if this comes available on the Irish market and you don't have one a) you might be made to get one (I don't know if you're an actual eh boy-whose-insurance-is-paid-by-someone-else or b) you'll pay more for insurance than someone who does ?




Its all optional and the installation is a mobile-phone sat-navvy type thing.

Little mistakes everyone makes ? Exceeding speed limit, tearing around corners...we're not talking about getting into the wrong lane coming to a junction or cutting out here.

If I would be your car I would shoot myself, because I cam bet: your car newer ever had anything fun happened to it...

It is just anather insurance money stunt.

As op said: I would be worried. Ireland hates England, but allways copycats.