Automobile Insurance in India has been a foggy concept for many car owners. Many car owners face trouble with their car insurance when they are in dire situations. This is because conventional car insurance policies are not very transparent. It is not until we need the backup of these insurances that we gain knowledge of how they can truly help us. Yet we pay high premiums to secure our cars. Young car owners who have just started out in their careers, find it very difficult to pay such huge premiums and a significant percentage of their yearly income is spent on paying these premiums. Vehicle Telematics have gained a lot of attention in the past years especially because of the introduction of Telematics Insurance.
TheTelematics Insurancesystem is known for its transparency which its users cherish. Telematics Insurance operates by using a system of Telematics called a “Black box” which collects data on how a vehicle is being driven. The Vehicle Telematics Device relays this data to the Telematics Insurance company which then analyzes this data to give points to the driver. The premium that a car owner pays will depend on the points that are given. Unlike in a conventional car insurance policy, if a car is insured with a Telematics Insurance policy, the owner can pay a personalized premium. So for those who do not drive their cars daily, they can pay a lesser insurance premium.
A Telematics Insurance needs drivers to drive in a safer way so that the condition of the car is well maintained. The Telematics Device Software helps drivers to comply by this. The software provides users with many features such as live location tracking, route management, fuel tracking and security systems. A Vehicle Telematics Systemenables a driver to drive past traffic congestion by suggesting routes that are clear and safer. It also helps cars owners to schedule Maintainance of their vehicles so that they can get better points and can pay less insurance premiums.
Telematics Insurance is the best option for people who don’t drive their cars daily and even for the young car owners who want to save the money that they earn. It also helps the drivers to be safe while driving. If an accident takes place the insurance companies can call the emergency services to give aid to the drivers. The Telematics Device can also be used by drivers to call for help in case the vehicle has broken down. In case of an accident, the Telematics Devicehelps the insurance company to verify how the accident has taken place and that the driver is telling the truth.
Conventional car insurance is of the past now and Vehicle Telematics Insurance is the future of car insurance, not just in India but everywhere in the world. The transparency that the Telematics Insurance companies offer is what makes it stands out from the different types of insurance policies. With the rise of insurance premiums in conventional insurance, more people are opting for Telematics Insurance in India.