Archive for January, 2009

New Technology Set to make Waves in Car Insurance

Friday, January 30th, 2009

Two Manchester firms have come up with a revolutionary proposal of having a new type of Car Insurance which will have drivers pay as they go. This latest technology, Coverbox, will use global positioning technology that will supervise the distance covered by your car and the time used by the vehicle. The technology will utilise this information to generate a bespoke insurance bill and the rates will differ according to the time when it is being used- whether your car is being used during peak hours or during off-peak period. This kind of insurance cover is being provided by Co-op and Equity Red Star while the gadget is being manufactured by one of UK’s leading automotive security companies, Cobra UK. (more…)

Higher Insurance Premiums by Specialist Insurers

Thursday, January 29th, 2009

According to money supermarket, premiums for specialist Car Insurance for women and for older drivers are costlier than traditional insurance. The research carried out by the price comparison website found that a 30 year old woman driving a Ford would be paying about £622 on average with a woman-only car. This is almost 60% higher than what traditional insurance covers. In such a case, according to money supermarket director Andy Leadbetter, it is better for women to opt for Sheila’s Wheels and Diamond who cater specifically to women motorists. (more…)