Chance for reduced car accident insurance? – Unlikely

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Fleet operators have long acknowledged the benefits of telematics and the data it provides to monitor driver behaviour and deliver improved operational efficiencies.  Now it seems NZ insurance companies are starting to realise the potential. The technology is being integrated into new cars anyway and can report on every manoeuvre a car makes; speeding, braking, cornering, over-taking – soon there will be no secrets to the way you perform on the road, including where you’ve been. Insurance companies want to access that data to analyse, not just whether you were at fault in the car accident, but what your driving style is.  They theorise that more passive drivers present them (insurers) with a lower risk profile so potentially could pay a lower premium.  It cannot however figure driving ability or, for instance, response time into the calculation so is quite broad-brush. We’re a little sceptical that ‘safe drivers’ will be rewarded with cheaper premium’s, but have no doubt driving style deemed to be overly aggressive will soon pay the price.  The NZ Herald presented a good overview of this new topic – for more into go to   http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11128212 .  Safe driving!

5 Responses

  1. Steve Johnson
    | Reply

    Its unlikely insurance companys will reduce premiums for ‘safe drivers’ beyond current no-claims bonus levels – why would they? They’re quick to hike the price when an accident happens though. If third party car insurance was compulsory in NZ like it is EVERYWHERE else in the world good drivers wouldnt need the cost of full insurance, but insurance companys don’t want that either. The latest media spin claimed third party cover would cost everyone more – don’t believe it and don’t have telemetrix in your car, they have no right and its an invasion of privacy!

  2. ShaneM
    | Reply

    Third party car insurance absolutely should be compolsory in NZ. It would be better for customers better for panelbeaters and better for the economy all round. There should not be unregistered uninsured cars on the road. Every time one of these cars causes a crash innocent people pay the price and its a big time waster for the collision industry that costs money

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