Car insurance prices could dramatically fall ....

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So bearing in mind the costs to the insurance companies of repairs etc, who is going to pay those costs, by definition some are going to pay a lot lot more. The alternative is that they have been overcharging us all these years.
 
I'd like to think it will come to pass, but the cynic in me thinks insurance companies will come up with something else to charge us with to ensure the coffers are kept full.
 
I'd like to think it will come to pass, but the cynic in me thinks insurance companies will come up with something else to charge us with to ensure the coffers are kept full.
My thoughts exactly ...
 
Telematics based policies are good for drivers who pay £500/£1000 or more per year, or for those who just use a car to get from A to B.
However, is there any reason for those who pay say £200 to £300 per year to use a telematics based policy?
A couple of 'spirited driving' excursions could see the insurer contacting you to suggest that you curb your enthusiasm, and possibly threaten to cancel your insurance policy.
See here :Complaints soar about black box gadgets that hep young drivers get insured | This is Money
 
One potential problem that I see for telematics-based insurance is the 20 mph speed limits that seem to be cropping up everywhere. Most drivers respect all the 30 mph upwards limits, but it doesn't seem to be the same in 20 mph zones - those who would obey a 30 mph limit seem to slow to about 25, while others totally ignore it.

In the past, I would have said that it was fair if a telematics box showed you were exceeding the speed limit in 30 mph plus areas. I'm not sure I could say the same for 20 mph limits. In west London they seem to be cropping up everywhere. Some boroughs seem to make it a borough wide 20 mph limit, while the neighbouring borough might change the limit several times on a one mile stretch of the same road.
 
For every driver with cheaper insurance there will be another whose insurance price goes up. Insurance companies have to balance their books and someone has to pay for repairs.
 
I helped the AA trial their 'Car Genie' black box and must admit the data it recorded was always very accurate.
 
^ But did you enjoy driving like Miss Daisy knowing big brother was recording your every move?:D
I drove as I always did, I forgot it was installed most of the time. The AA T&Cs stated the data would not be shared with a third party unless officially requested. Fortunately it was never requested :eek::D
 
God. I was working at Allianz when they started looking into this and I met the manufacturers of both leading telematics products.

You have to remember that most car insurance runs at breakeven point. Look at Allianz, they dropped it! Yes, it might drop prices of products, but that's going to take a while for them to get those prices down and who's going to pay for the decide - consumer or front loaded to the policy.

I left Allianz 2015, and not seen anything new that makes me think this will ever become a reality except to lower policies for youngsters who want a cheaper policy and are prepared to be sensible and happy to be monitored.

There was talk from Ford and Vauxhall for the telematic to be fitted as standard by manufacturers.. not seen any headway in that dept yet.

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Mercedes Me - how many drivers have this - who knows what data MB can collect from this little sweetie ????
If anybody has a definite answer , let me know.i'm often tempted to dump it but I would imagine that it wouldn't stop any unwanted transmissions. BIG brother is here ;);););)
 
Personally, I don't have an issue with data being collected about me, but I do respect the fact that other people do mind.

I use the Mercedes Me Adapter and I am happy for MB to collect what data they need.

Of course you can avoid it, and also avoid using Smartphones, Alexa, Siri, Cortana, Bixby, Google, Facebook, WhatsApp, Instagram, YouTube, and online forums such as this one... it's a personal choice.
 
I've been debating the value of the £70 for three years. Kinda thing I'd expect from Mercedes for free

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I don't have an issue with MB collecting data about me either , as long as they don't share it with anyone else.
 
I wonder if they would be compelled to share data should they be requested to by the police or insurer. What does the T&C's state?
 
I wonder if they would be compelled to share data should they be requested to by the police or insurer. What does the T&C's state?
I am sure that if the police obtains a court order in the relevant country, MB will comply.

I am not sure the police would bother though... unless a serious offence has been committed.
 
Of course they would have no reason to request unless an offence had been committed or serious accident happened. I don't believe there would be an automatic harvesting of data to expose an offence. Well, not just yet anyway ...
 

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