How You Can Use Technology to Improve Your Car Insurance?

Advances in technology are making almost every aspect of our lives easier than they were before. You can do all your banking online, watch your favorite television shows anytime you want, and order groceries to be delivered right to your door. It might not be something you think about often, but technology can also change the way you approach your car insurance.
How You Can Use Technology to Improve Your Car Insurance
If you’re concerned about the amount you’re paying for your insurance coverage, new technology could be the key to unlocking a greater discount on your premium. Many insurers are now offering Usage-Based Insurance (UBI) plans, which ask drivers to install a telematics device to their vehicles to track their driving habits. These devices can record information about your acceleration, braking and distance driven, and then relay that data to your insurance provider so they can get a clear picture of your driving habits. In return, you could be eligible for a lower premium. Many companies offer a discount just for signing up for UBI, and up to 30 percent in savings when it’s time for renewal. In addition, studies have shown that UBI can change your driving habits for the better.
Of course, providing this type of information to a large company could raise some privacy concerns, so the Financial Services Commission of Ontario lays out the rules that protect drivers who sign up for UBI. Based on these guidelines, any information collected by your insurance company cannot be shared with a third party without your express consent. In addition, the information cannot be used to increase your premium, only to set a discount, review rating criteria, detect and prevent fraud, and manage claims. That being said, data from your telematics device could be used as evidence against you in a claim if it reveals that you were speeding or braking suddenly before an accident.
If you are concerned about making a claim to your insurance company, a dash cam is another way that you can use technology to your advantage. Dash cams can record yourjourney and events going on when your vehcile is parked. This means that your dash cam can provide footage of a car that hit you or catch the license plate of a vehicle unlawfully leaving the scene in the event that you need proof to submit a claim.Like UBI, dash cam footage only works in your favour if you do not have any fault in a collision. Otherwise, you’re dash cam could prove a case against you.
Each year before its time to renew your insurance, you should be comparing quotes between providers. A lot can change in year – both with premiums and your life situation – so the great deal you got last year might not be your best option anymore. Luckily, technology also makes it easy for you to compare car insurance quotes online. When you’re doing your research this year, consider how UBI could lower your premium, and ask your chosen insurer if having a dash cam would be beneficial in the claims processes.

Top 7 Myths About Comprehensive Car Insurance

For some, insurance is an unfamiliar concept. Thus, it is natural for them to have doubts. What adds to these doubts are the myths that are associated with insurance policies. These myths are fueled by hearsay and add to the existing confusion.
Car Insurance
The following are top 7 myths that are associated with Comprehensive Car Insurance. Let’s have a look at these myths and find out the truth.

Myth 1 – Availing Comprehensive Car Insurance is a tedious process

Reality
Few years ago, when the entire insurance business was conducted on paper, it would’ve been right to consider availing Comprehensive Insurance Car Insurance as a tedious process. Now, in the digital age, purchasing a policy has become extremely easy. Information is provided in an easy-to-understand manner on websites and the purchasing process is similar to online shopping sites that people are used to.
Also, the inclusions and exclusions of the Comprehensive Car Insurance Policy are clearly mentioned in the policy document. The plan is presented in a structured way. It can also be purchased through the App on your phone. Insurance companies have made efforts to make their products transparent and their processes convenient.

Myth 2 – Comprehensive Car Insurance Policy does not cover Third-Party Liability

Reality
Availing a Third-party Liability Insurance is mandatory by law. It is a basic insurance policy that one can avail to stay on the right side of the law and protect the interests of various third-parties that might be affected by an accident caused by your car. Comprehensive Car Insurance is termed as ‘comprehensive’ as it covers the basic, Third-party Liability insurance, as well as provides Own Damage cover.
Thus, a Comprehensive Car Insurance Policy includes a Third-party cover. It also protects the insured from financial losses in case of damages to the car or any injury to self. Co-passengers can also be insured with the help of Add-ons that offer extra coverage.

Myth 3 – Comprehensive Car Insurance only covers accidents

Reality
Comprehensive Car Insurance Policy not only covers accidents but also provides insurance cover against risks such as theft, calamities, etc. This policy offers wide insurance coverage. Third-party Liability and Own Damage are covered, and there are several other Add-ons that further enhance your car’s insurance cover.

Myth 4 – Only new drivers should go for Comprehensive Car Insurance

Reality
This myth stems from the thought that new or first-time drivers might need more cushioning, thus they should opt for a Comprehensive Car Insurance. No doubt it is beneficial for first-time drivers to enhance their insurance cover however, continuing with it when they gain more experience is a wise decision instead of degrading to just a Third-party Liability Policy.
Gaining experience as a driver can help one enhance their driving skills but experience does not provide financial protection against major threats. It does not have any relation to threats such as fire, calamities and theft. As a Comprehensive Car Insurance Policy provides a wide cover, experience drivers should also opt for it.

Myth 5 – Old cars do not need Comprehensive Insurance

Reality
More than the age of the car, the need for Comprehensive Car Insurance will depend upon the usage of the car and the way it is driven. If an old car is used extensively and driven in a rash manner then it goes without saying that it needs Comprehensive Insurance. If the car is in the parking spot for most of the time and the owner plans to sell it in the near future, then the need for Comprehensive Car Insurance needs to be assessed accordingly. Even in that case, the car is vulnerable to risks such as theft and damage due to natural calamities.

Myth 6 – In case of an accident, we have to compulsorily pay first to get the car repaired

Reality
Top insurance providers have tie-ups with garages. Whenever there is an accident, it is advised that the insured car is taken to a partner garage. The expenses are adjusted between the insurance company and the garage internally. The owner of the insured car has to just pay the deductible amount.
If the car is repaired at a garage that is not a part of the insurance company’s network of garages, then the insured has to first pay the expenses for repairs and then get it reimbursed from the insurance company.

Myth 7 – Purchasing insurance online is not safe

Reality
Purchasing insurance online is as safe as buying any product online. Insurance companies take great care to ensure that their payment gateways are secure. While transacting, make sure that the website or the mobile app through which the transaction is conducted is official.

What’s the Conclusion?

Purchasing a comprehensive car insurance will give you wide insurance coverage. Make an informed decision keeping in mind, your car, driving technique, and majority risks that you are exposed to. Also, it is suggested to go for Add-ons that are most-suitable. Such Add-ons will further enhance the insurance coverage offered by your comprehensive car insurance policy.

Great Ways to Help Reduce the Price of Car Insurance

Obtain a number of Quotes

This is one way on How to reduce the price of car insurance. Make an application for as many quotes as your own time will enable. Lots of people consider three as a amount, however it is legitimate that the more you get the simpler it’s in getting as much as seven, and spotting the top bargains will give the top possibility to you of locating the least expensive quote. If every one of the extras are considered don’t forget to compare all quotes on a like – for – like basis however, as even the costliest one might seem drastically cheaper. You could find one insurance policy is sold with break-down cover as conventional, while yet another it may possibly need to be purchased separately, and by paying additional it might make the cheaper insurance about the same as the higher priced one.

Car Security Devices

Any additional security measures you take to discourage thieves from stealing your vehicle will further reduce the dangers you introduce to the insurance carrier.

For example, only by installing a Thatcham approved alarm can frequently help you save as much as 10% in your vehicle insurance. You’ll generally be expected to keep these things fitted by professionals though, as DIY fitted devices mightn’t be often taken by insurance companies into consideration, even when they do occur to be Thatcham approved. Steering locks and immobilisers also play a critical part in deterring the auto thief, thus with these you might be also decreasing the complete threat that you simply introduce to the insurance carrier. Get Auto Insurance Quotes Every Year

It’s generally worth getting estimates from some other businesses before you renew even though you are pleased with your present insurance provider. Quite often auto insurance providers offer to be able to increase custom enticing deals to new clients, and by getting a few new estimates it is possible to often look for a much better deal. It’s better to remember that an individual insurance company can-not be the least expensive alternative for everyone all of the time, and this years bargain last years overpriced insurance company could be. Auto insurance quotes are constantly changing, specified time your conditions will even change, therefore the absolute most dependable means of locating a better offer is by claiming a reach of new quotes.

Option of Auto

Pick your vehicle sensibly. In case you are looking to reduce car insurance prices bear in mind that the model of worth, the engine size, its age and car are used in calculating insurance quotes. If you need to keep insurance costs todown cars with no alterations and little engines, which also have readily accessible and affordable spare parts are really an ideal option. But also think about the auto’s insurance group evaluation too. All vehicles in Britain are assigned a group evaluation number between 1 and 20, and by selecting a auto with a lesser number will significantly lessen the total price of your auto insurance.

This article was provided by the content team over at Comparethemarketcarinsurance.co.uk, in the hope that the tips provided will help drivers keep their insurance costs down.