New Pay as you Go insurance
12 March 2003, 12:42 PM
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Norwich Union has announced a pilot of PAYG insurance in the UK.
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This suggests that insurance will be based on time of travel and type of road, plus city versus rural areas.
Insurance companies being what they are I can't see it saving me any money even if I drove only off-peak (true) and mostly rural roads (true). Probably got a sliding scale based on acceleration, speed and cornering forces too - that's me out then !
Article
This suggests that insurance will be based on time of travel and type of road, plus city versus rural areas.
Insurance companies being what they are I can't see it saving me any money even if I drove only off-peak (true) and mostly rural roads (true). Probably got a sliding scale based on acceleration, speed and cornering forces too - that's me out then !
12 March 2003, 01:19 PM
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Before anyone gets too excited here's some more info: this is only a pilot and even if you manage to sign up for it you'll still pay for insurance in the usual way. They'll install thair black box and collect all the data, but NOT use it to calculate your insurance.
Once they've had a whole load of guinea pigs I suppose they'll work out how to roll out PAYG insurance without losing money.
Norwich Union's own pages cover the pilot here
Once they've had a whole load of guinea pigs I suppose they'll work out how to roll out PAYG insurance without losing money.
Norwich Union's own pages cover the pilot here
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