New 'no ties' motor insurance - thoughts?

[mikebeaches]

Apparently, today the RAC is launching a new style of motor insurance, aimed at low mileage drivers (less than 6,000 pa).

It is a monthly policy instead of an annual contract, with no ties ie policy can be cancelled any time without penalty.

An electronic sticker is attached to the windscreen and links to a smartphone app. Price is based on miles covered.

As far as I know, it is only for cars, and probably not suitable for motorhomes.

https://www.rac.co.uk/drive/news/motoring-news/rac-launches-pioneering-no-ties-pay-by-mile-car-insurance/

What do folk think? Is the idea worth considering if you have a car that doesn't travel too far?

 

[Lenny HB]

If they did cover Motorhomes I expect it will be expensive & the mileage is too low for us for the Motorhome.

 

[Minxy]

A similar thing was mentioned on another thread about a month ago I think, it turned out to be very expensive (I tried quotes) as there is a 'basic' cover cost regardless of how many miles you travel, eg even if you do 0 miles it was still more expensive than a normal comprehensive policy with a good few thousand miles included.

Edit: here's the other thread:

Pay as you drive Car insurance.

Car insurance time again on runabout another + 1 Yr ncd & The usual higher renewal quote excuses from current insurer. Half a day going through the comparison sites and I came across By Miles insurance. A flat fee up front for fully comp parked up and 3.2p per mile only if being used paid...

www.motorhomefun.co.uk

 

[hymerman]

How would it affect your no claims bonus for future policies ?

 

[Coolcats]

Why does anyone want to be tracked, I know it’s coming but one day all our private lives will be the interest of private companies

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[Odd-no-more]

Why does anyone want to be tracked, I know it’s coming but one day all our private lives will be the interest of private companies

If you have a smartphone you are already tracked. Have a look at your timeline in Google maps.

 

[cmcardle75]

Apparently, today the RAC is launching a new style of motor insurance, aimed at low mileage drivers (less than 6,000 pa).

It is a monthly policy instead of an annual contract, with no ties ie policy can be cancelled any time without penalty.

An electronic sticker is attached to the windscreen and links to a smartphone app. Price is based on miles covered.

As far as I know, it is only for cars, and probably not suitable for motorhomes.

https://www.rac.co.uk/drive/news/motoring-news/rac-launches-pioneering-no-ties-pay-by-mile-car-insurance/

What do folk think? Is the idea worth considering if you have a car that doesn't travel too far?

These policies are normally aimed at kids who can't afford real insurance. Older people will tend to pay so little for fully comp, it just isn't worth the cost of the electronics.

 

[dunnah01]

Why does anyone want to be tracked, I know it’s coming but one day all our private lives will be the interest of private companies

They must have had a very boring past few months during lockdown

 

[Coolcats]

If you have a smartphone you are already tracked. Have a look at your timeline in Google maps.

I do not use Google I banned it, Duck Duck Go is my browser and location is often switch of. I accept no Cookies (always suspicious of Bears) and pop ups are banned, I do not use W3W its not that there are no breadcrumbs of my visits to places but what the heck do I want to make it even easier for the Btards to get my data.

 

[Coolcats]

They must have had a very boring past few months during lockdown

Big companies are not that 'bored' they really really want to get to know you.......Its naive for us to think we have nothing to hide

<Broken link removed>
<Broken link removed>
<Broken link removed> Consortium's (WC3) Ethical Web Principles.

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[mikebeaches]

These policies are normally aimed at kids who can't afford real insurance. Older people will tend to pay so little for fully comp, it just isn't worth the cost of the electronics.

I know the ones you mean, where a 'black box' is installed, and the driver's behaviour is monitored eg speed, acceleration, aggressive use of brakes etc.

But no, I think this is quite different - only distance travelled is monitored. And cover can be halted at any time without penalty.

Further, driver has their own live ongoing access to the data and cost via the app.

 

[mitzimad]

I do not use Google I banned it, Duck Duck Go is my browser and location is often switch of. I accept no Cookies (always suspicious of Bears) and pop ups are banned, I do not use W3W its not that there are no breadcrumbs of my visits to places but what the heck do I want to make it even easier for the Btards to get my data.

can you explain how you reject cookies and still use the web page when ever ive tried to reject cookies i can go no further?

 

[PJGWiltshire]

I can't see it taking off for older full no claims protected owners. I have a VW Polo 5 years old Full comp with max no claims. Registered as living on the South Coast non garaged on drive at night. The car does about 4000 miles a year, thats around 350 miles month. I pay £160 per year for usage estimated at 10000 miles.
With RAC 4000 miles at 4p, (listed by the RAC as prices start at 4p mile) is £160 then add the £50 registration fee plus the monthly fee for full comp cover for the car when non driven, it will cost more than my £160.

I will get a quote to see in any case

Just done the quote

Basic insurance (£14 per month) including £50 sign up fee £218 plus milage of 3.2p for 4000 (£128) a mile equals £346 don't think so!

 

[mikebeaches]

I can't see it taking off for older full no claims protected owners. I have a VW Polo 5 years old Full comp with max no claims. Registered as living on the South Coast non garaged on drive at night. The car does about 4000 miles a year, thats around 350 miles month. I pay £160 per year for usage estimated at 10000 miles.
With RAC 4000 miles at 4p, (listed by the RAC as prices start at 4p mile) is £160 then add the £50 registration fee plus the monthly fee for full comp cover for the car when non driven, it will cost more than my £160.

I will get a quote to see in any case

Just done the quote

Basic insurance (£14 per month) including £50 sign up fee £218 plus milage of 3.2p for 4000 (£128) a mile equals £346 don't think so!

Thanks for that real world example!

We pay significantly more for each of our two cars, both of which do very low mileage (especially the last 12 months ).

One's a Jag and the other a year-old C3 Aircross. But the insurance is not due for renewal for either within the next 6 months.

 

[Coolcats]

can you explain how you reject cookies and still use the web page when ever ive tried to reject cookies i can go no further?

I do not know what browser you are using I am using Safari and sometimes Firefox or Microsoft edge. Rejecting cookies does not stop me accessing all sites, occasionally I may accept a cookie.

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[busbuddy]

In germany they used to be able to just tax and insure for the national holiday months and then put the van back to bed, only works in the UK if you only use the van in the school holidays