Ever heard of pay as drive insurance? Basically it does what it says on the tin. You only pay for the miles you do. Now CoverBox Insurance are using Quartix vehicle tracking systems to help monitor the number of hours their customers drive.
The Quartix vehicle tracking systems will also be used in conjunction with a new scheme that CoverBox are now running which will enable them to monitor when drivers use their vehicles out of off peak hours. The customers who have this particular insurance service will be able to get discounts if they drive under a certain number of miles within peak hours.
This new scheme using Quartix vehicle tracking systems is under trial for 12 months to see how it works and if it works ok then it could become an ongoing contract.
CoverBox can also use vehicle tracking to monitor driver behaviour and speeding levels to ascertain a risk factor associated with the driver. This will help to determine pricing for each of the customers.
This use of vehicle tracking could become a very popular in the future as insurance companies look at ways of reducing the costs for some drivers and increasing them for the drivers who are likely to cause or do cause the most accidents.
