Pay less for car insurance - if you're a good driver and/or you don't drive much
South Africa, and the world, are entering a new era of behaviour-based vehicle insurance.
The idea is to reduce dependence on generic information such as age and gender and to replace that with real-world data.
Arabile Gumede (in for The Money Show’s Bruce Whitfield) interviewed Christiaan Steyn, Head of MiWay Blink (scroll up to listen).
There are no phone calls or paperwork… you can get a car insurance quote in less than a minute.Christiaan Steyn, Head - MiWay Blink
Consumers expect that your car insurance premium should be linked to how much you drive, and rightly so… We track your trips, and at the end of the month, based on how much you drove, you get cash back…Christiaan Steyn, Head - MiWay Blink
It’s a fairer way to charge each individual… Behaviour-based insurance is the way the industry is going… It helps us incentivise good driving behaviour… and reduce fatalities on South Africa’s roads.Christiaan Steyn, Head - MiWay Blink
This article first appeared on CapeTalk : Pay less for car insurance - if you're a good driver and/or you don't drive much
Source : https://www.123rf.com/photo_26143975_vehicle-over-speed-warning-light.html?vti=ncmj55a1q2b8hsl09p-1-21