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Bad News for Bad Drivers ! Good News for Good Drivers ! USAGE BASED INSURANCE !
Bad Drivers:- Yes, You have heard it right ! If you are a bad driver then you may have to More Premium of Insurance according to Usage Based Insurance (UBI). And If you are a good Driver then it is good news for you, You may get discount on premium of Insurance. Imagine you have to pay your insurance premium on based of your behaviour while the vehicle. This thing may turn into reality very soon.
The Insurance Companies are getting ready to roll out the concept of “USAGE BASED INSURANCE” (UBI). Now, Questions is arise. How Automotive Insurance Companies will track the behaviour of the Drivers? Ohh ! It will be very interesting to catch.
The Automotive Insurance will track the Drivers by Sensors fitted on the Vehicles. That Sensors will send the Data to Clouds hub of Insurance Companies. Where they will monitor and analyse the Data for Drivers behaviour and decide the Premium amount. It looks quite interesting.
After Analysing the monitored data which will be received by the fitted sensors on the Vehicles. The Premium of Insurance will be decided. If you found as bad driver you will have to pay more premium of Insurance.
IMPORTANT : There will be many parameters, On which drivers behaviour will be monitored. Such as, Rash Driving, Hard Braking, Frequent Lane Changing, Horn Blow, Acceleration of long time and speeding the vehicle. Fast driving across the corners. Damaging the other vehicles. On this parameters bad drivers will be picked and decide their Premium.
For Good Drivers, If a driver travel long distance with normal speed and using soft brakes. Keep Distances, No Rash Driving, No Frequent Lane Changing, will attract the discount on their Premium.
This major call will change the image of the Automotive Insurance. And it will be quite positive move, because good drivers should be given credits on following the rules. When premium amount will be in mind according to the driving behaviour, Definitely there will slope in the Accidents and disturbance in the roads. Buy Motor Insurance