March 2018 – The average motor insurance claim is now at a record level of just under £3000 according to the latest figures from the ABI. This has helped insurance premiums rise by 9% in the past year. As around 90% of every standard motor insurance premium is what an insurer has to pay out in claims, Smartdriverclub Insurance is urging motorists to boycott traditional motor insurance and take advantage of the lower claims costs and lower premiums offered by usage-based or black box insurance providers.
What few motorists realise is that if they opt for usage-based or ‘black box’ insurance from an insurance provider like Smartdriverclub Insurance, when they renew, their premium will be based on how they drive as an individual, not for the claims of other motorists. They will also earn a discount simply for the fact they have elected for this type of policy and are therefore likely to be a safer driver. Smartdriverclub Insurance customers save up to 60% at renewal compared with a traditional motor insurance policy.
Penny Searles, CEO of Smartdriverclub Insurance said: “As long as claims costs keep increasing, insurance premiums will keep rising, but motorists do have a choice. They should be asking for usage-based insurance at renewal and if their existing insurer can’t offer a suitable policy, they need to shop around. While most black box policies are aimed at young drivers there are some such as Smartdriverclub Insurance aimed at the wider market and in particular older drivers, looking for a policy that will also offer some feedback on their driving performance.”
Smartdriverclub Insurance is one of the only telematics insurance providers to be targeted to the mass market using data collected via a self-installed OBD device. The majority of customers are over 25 years and there are plans to specifically grow in the older market that is currently neglected by the mainstream. Insurance customers enjoy free membership of Smartdriverclub, with services such as ‘MyMechanic’, ‘Crash Assistance’, ‘Where’s my Car?’ and ‘Business Miles’ for expenses reporting, all managed via a smartphone app.
Founded by one of the industry’s key innovators and proponents of telematics insurance, Penny Searles, Smartdriverclub Insurance is currently underwritten by Axa and Admiral.
Penny Searles concludes: “We are delivering a service that motorists want and one that really challenges the traditional model. Motorists like the no-fuss simplicity of installation, the safety and cost-saving services the OBD device enables and the promise that they won’t be subsidising the bad behaviour of others.”