What is telematics?
Telematics is the latest buzz word in insurance. It enables drivers to be in control of their own insurance premium and pay for how they drive as an individual. It’s been around for almost ten years but now consumers and insurers alike are seeing how valuable it is in a variety of different ways.
Insure OK uses black box technology, a professionally installed device that collects data such as your speed, how quickly you accelerate and brake, how fast you go round corners, where and when you drive. We will rate on factors including acceleration, braking and your speed.
Using this data will help us build up a picture of you as a driver and we’ll assign you a ‘Driving Score’ that will reflect whether you are a good and safe driver or one that needs to improve! We know from our telematics statistics that safer drivers have fewer accidents.
The Insure OK box and installation
It really is as simple as 1-2-3!
When we talk to you to set up your policy over the phone, we’ll arrange for an appointment for your Insure OK box to be fitted and we’ll ask you to have this fitted within 10 days of you setting up the policy with us.
Once the appointment has been made, a member of our team of professional installers will fit your Insure OK box either at your home or your work. This normally takes about 45 minutes and they’ll fit your Insure OK box out of sight, usually under the dashboard.
Once its fitted, you can drive as normal and we’ll start to collect information about your driving. It’s a simple as that!
So how does it work?
- We’ll assume that you are a good and safe driver and we’ll give you a discount of up to 20% off up front
- Our friendly installation team will come and fit your Insure OK box within 10 days of the start of your policy
- You drive as normal!
- Log on to your Driving Dashboard
- There’s 3 review points in the year – day 90, 180 and 270. If you drive well and have scores in the green, you can earn a further discount of XX
- But remember, this is a product that rewards you for being a safe driver so if your score is in the red, you will have to pay more
- You can also keep track of how many miles you are doing and buy top up miles if you are running out
Can I add other drivers?
Yes you can add named drivers onto your policy but you will need to let them know that there is an Insure OK box in the car and their driving style and location will also be captured. Make sure they are ok with this. Any named drivers behaviour will count towards the overall driving score of the policy so make sure they are a good driver or they could impact what you pay.
Can my premium change?
Yes it can. Once installed, the Insure OK box will begin transmitting data regarding how you drive and that of any named drivers on your policy , which will be used to calculate the overall driving score. This will be based on:
- the speed at which you drive;
- how quickly you accelerate;
- how hard you brake;
- how quickly you corner;
- when and where you drive;
- the duration and frequency of your trips;
Driving above the speed limit, accelerating rapidly or braking hard will negatively impact your driving score, which in turn may result in increased premiums being charged. Whereas adhering to road speed limits, accelerating and braking smoothly and gradually will positively impact your driving score, and may result in premiums being refunded to you. There is a direct correlation between low driving scores and the risk of being involved in an incident and making a claim and therefore low driving scores will attract a higher premium.
You will be able to monitor your overall driving score and the scores for each of the above criteria on your customer dashboard. The dashboard will be updated daily with your most recent journeys, and we will email you regularly to keep you updated with your current driving score. After the first 90 days of your policy we will review your driving score and where any premium changes occur, we will notify you by e-mail 7 days before it is processed. If the driving score is in the red and showing a minus number at the quarterly review point, then this will incur an additional premium. The maximum amount you could pay at each quarterly review point will be £150. If you have a positive driving score and your score is 7 or above at each quarterly review point, you could receive a refund of up to £50.
Does it matter how many miles I do?
It is important that the annual mileage you declare at the inception of the policy is accurate. The Insure OK box will collect data about how many miles you drive within the policy year. If you exceed the declared annual mileage, we will contact you and ask you to buy ‘top up miles’ to cover your mileage expectation for the rest of the policy year. Additional ‘top up miles’ will be charged at 10p per mile.
As well as how and when you drive, we’ll check how fast you are driving on a daily basis and will let you know if you have exceeded the speed limit by a considerable margin (extreme events). If you receive three extreme speeding event warnings during your 12 month policy, your policy will be cancelled (please see FAQs - What if I exceed the speed limit? for more details). You can keep track of how you’re doing on your personalised Driving Dashboard and this will be updated with all your driving information each day. We’ll also email you monthly so you’ll never be caught out with a surprise about your premium.
Your own personalised Driving dashboard
Once you are driving with the Insure OK box, you’ll be able to see your driving scores, hints and tips and information about any changes in premium in your Driving dashboard. You can also keep track of your miles and buy top up miles if you are running out. This is available only to the policyholder with your own unique log in and password. This is updated after each journey so you’ll always be able to keep track of your driving.
Telematics is much more than trying to help you save money, its also about looking after you if you do have an accident or your car is stolen. Your Insure OK box is fitted so that it can detect a strong impact or an emergency stop and it will send us an alert to let us know. We’ll check the alert and if your car is stationary, we will try to call you to see if you are OK. We can then help you through what’s happened and send out assistance if necessary.
As the Insure OK box uses GPS to track your vehicle’s position, this can be really useful if your car is stolen. As long as its visible to a satellite, we can track where your car is and liaise with the Police to help recover it. We’ve been 100% successful in recovering vehicles on our other brands.