Any - Technology leveraging increased insurance premiums

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Mon 4 Feb 2013 14:24
Any - Technology leveraging increased insurance premiums - Sulphur Man

All,

I've read two seperate motoring journalist sources saying that, in the not too distant future, cars without 'city' emergency braking systems, such as those on the latest Volvos, Fords and optional on some Fiats, will suffer insurance premium penalties.

How do we feel about insurance premiums calculated in part by the safety tech on your car? Specifically safety tech that functions to prevent accidents before they occur

Feels like yet another pocket-pick of the long suffering motorist. A surcharge (or lack of discount) on this feature should take into regard other correlating factors such as

Competence of driver

Prevailing weather conditions

Wear on tyres, primarily fronts which take the load

Views?

.

Edited by Sulphur Man on 04/02/2013 at 14:25

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Mon 4 Feb 2013 15:04
Any - Technology leveraging increased insurance premiums - BigJohnD

I was looking at extended warranties recently - one policy did not include "electronic diagnostics" as part of the repair/repacement process; any diagnostic charges are pased on to the policy holder.

So we know insurers are watching…

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Mon 4 Feb 2013 16:14
Any - Technology leveraging increased insurance premiums - unthrottled

Ultimately, the biggest factor in premium will be whether you claim or not. It's a competitive market (albeit a failing one), so someone will want your business and apply a different algorithmn to calculate your risk.

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Mon 4 Feb 2013 17:21
Any - Technology leveraging increased insurance premiums - dacouch

It's more likely that cars with the city braking systems will be rated in a lower group than their equivalent cars thus receiving a discount.

This is how cars with safety technology that reduces the likely hood of claims is normally treated rather than load the cars that don't have it.

The cars without the city braking are the same risk of having a claim as they were before city brakes were introduced so it makes no sense to load them, the sensible option is to offer a discount to those with the system.

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Mon 4 Feb 2013 19:40
Any - Technology leveraging increased insurance premiums - unthrottled

the sensible option is to offer a discount to those with the system.

Sure-if it actually reduces the likelihood of an accident. This is not a given because complacency tends to creep in when the user feels that something is safe.

For the same reason i don't like to see 'safety' catches on guns. If there isn't one, the user is never tempted to treat the weapon as 'safe' and an accident is less likely to occur.

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