Telematics car insurance is a specific type of car insurance, that is also known as “Black Box” insurance. The name stems from the small black box that is installed in the vehicle of your choice that you wish to track. This car insurance is important to get for your cars, since Telematics is the technological marvel that can transform your driving experience.
The Telematics box is tasked with providing all vehicular information and statistics to the user. The specifications such as how your vehicle is being driven, the driving timeline and vehicle health and maintenance are measured by this device. The data that is obtained thus can be utilised to enhance your driving patterns and for optimal vehicle utility.
Need of Telematics Insurance
Telematics Car Insurance is needed for premium rates revisions, getting authorised insurance renewal quotations and for accident or theft recovery. The device works like this: it is installed within the vehicle, and then collects all information by utilising Informatics. This information is then sent to a server by means of a SIM card which is placed inside the telematics device. And then the analytics and reports regarding various metrics are displayed to the user on a customised dashboard, from where they can track the progress of their car and get detailed vehicle data.
The telematics device that is fitted into the vehicle has four major components within itself. These are the GPS system that has the GPS receiver, Engine interface, Input/output interface (expander port), Motion sensors, SIM card, Accelerometer and a Buzzer or Trigger button. With this device, you can ensure that the cost of your car insurance will decline significantly. Moreover, this will ensure ultimate safety on the roads, thus further impacting telematics car insurance premium.
Telematics Car Insurance is important for your vehicle as the black box that is installed in the car gives you data on specifications like speed patterns, acceleration, hard braking, driving times, idling, mileage, trip history, fuel consumption, engine health, tampering alerts, amongst other many features. With this insurance, you can get an accurate assessment of your car insurance risk, and can know the exact cost of the renewal premium. Moreover, in the event of an accident, you can utilise this insurance to manage your claim.
Benefits of Telematics Insurance
The benefits of Telematics Car Insurance are not just limited to claims and premiums. It can provide you with a host of advantages such as:
- Cost Saving: Depending on how safely you drive your vehicle, and your adherence to traffic guidelines and safe driving, your Telematics Car Insurance provider may offer you certain discounts, which can help you save your money.
- Enhanced Safety: The telematics device is installed by your insurance provider, thus any and all alerts reach them as well. So in case you are in an accident, or some other emergency prevails that triggers alarms in the telematics device, the provider is also notified. They can thus assist you as well in calling emergency services, or come to your rescue.
- Authentic Claims: The provider has detailed insights into what exactly happened in the event an accident occurs. The telematics device comes in handy when the provider has to handle or process any claims you may put in.