Vehicle owners have very different preferences when it comes to make, model, colour and accessories. This individuality is not limited to their vehicles – it also stretches much further- – and we need to recognize this in aspects such as driving behaviour, driving risks and the manner in which they care for their vehicles!
Car insurance should also be able to recognize owner and driver individuality by the way in which premiums are calculated. Car Insurance should never be a one size fits all – if you pose less of a driving risk and claims risk than your neighbour, you should pay less in car insurance compared to your neighbour.
In this post we would like to pay attention to one of the aspects that could reduce the distance driven and as a result – the claims risk!
Changing Work Environment, reduced driving and PAYD
It is generally accepted that the more and the further you drive, the more exposed you are to both accidents and vehicle loss! You share the road with more road users and road hazards and despite your own driving ability there are simply so many more threats.
Why is the work environment changing?
Advances in technology and increased connectivity are allowing professionals and businesses to interact 24/7 with one another without the need for long face to face discussions around a table in a fancy office. The internet has become faster, the cost of data has come down and with laptops, iPads, smartphones and other devices information can be shared swiftly and effectively.
It has also allowed many to move away from the corporate environment to do their own thing! It is not only the “stay at home moms” who discovered the benefits of working from home. Tax consultants, financial advisors, marketing professionals and many more are finding that they are well capable of building and maintaining a business on their own.
The internet and 24/7 online connectivity are allowing for many new businesses. Many of these businesses are web –based and can be managed from the office at home.
How does the changing environment impact on travel patterns and car insurance?
Many vehicle owners find that the changing work environment allows them to reduce their travels significantly. Small business owners find that they can often avoid hectic traffic congestion into the city by optimizing their homes into “home-offices”. Not only can they save on expensive office rental, but also on the costs of transportation.
These costs include:
-Vehicle maintenance and service costs
– Costs of wear and tear of tyres, brake pads etc
– Costs of parking etc
It is most important to recognize that these savings should also extend beyond the above list to include your car insurance. If you drive less, a telematics based insurance policy will reward those drivers who drive shorter distances than other drivers. Those who work from home are likely to benefit from such a policy.
How much will I save with a Pay As You Drive Car Insurance Policy
As earlier indicated – every premium is based on your own driving behaviour. To find how much you will save there is only one way to find out – request a car insurance quote and compare this to what you are paying now!
You might find that you may not only smile at reduced traffic congestion- but also at a reduced car insurance premium!!