Top tech and car insurance
Better safety tech should mean fewer car accidents, and fewer accidents could mean lower car insurance. However, for that to happen, the majority of cars would need to adopt top-notch tech before we start to see any big differences.
One area of car security that could make a difference sooner rather than later is GPS tracking. Fitting a GPS tracker makes it (quite literally) harder for thieves to get away with your vehicle, which in turn could help lower your premium. If your car is particularly expensive, then your insurance provider may insist on a tracker being fitted as part of your policy. Some trackers don’t just ensure your car can be found but they allow you to disable the car remotely, stopping car crooks in their tracks.
Telematics is another example of how technology has helped lower the cost of insurance, primarily for young drivers. Telematics, more commonly known as black box technology, uses a small device (or an app) that’s fitted to your car to monitor your driving. The data is fed back to your insurance provider who bases the cost of cover on your driving skills – so the more you obey the rules of the road, the more likely you are to be rewarded with a favourable premium.