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Telematics May Cut Motor Home Insurance Costs
A new study reveals that motor home owners are keen to use telematic technology to bring down the cost of their motor home insurance policies.
The study by a leading online insurance comparison site took in the views of over 2000 drivers including motor home enthusiasts and found that almost all of those questioned are concerned at the spiralling cost of vehicle insurance. Telematic based insurance policies, often referred to as black box balancing, require a motorist to have a small device fitted to his vehicle which will record the way he drives. Similar to the black box in aircraft the telematic device will monitor speed, mileage, the hours of use (including anti-social hours) and many other elements involved in driving a vehicle. The information from the device is fed back to the vehicle insurer who will then set the premium on the information gleaned from the statistics.
Over 90% of those interviewed in the survey now believe this is a fairer way for their policy premium to be assessed and more than half said they would look for an insurance quote based on telematics next time they renewed their policy.
Scott Kelly speaking on behalf of the company who carried out the research said “Motorists no longer believe that the traditional factors such as sex, age and claims history are the best way to cost an insurance policy. Given the rising costs of motoring, we think that the new generation of telematics motor insurance policies will play a greater role in the vehicle insurance market in the coming months. And, as our survey shows, many drivers, across all age groups, would happily embrace the new in-car technology in a bid to keep their premiums down”
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