‘App’ to Cut Insurance Cost

A new ‘app’ entitled RateMyDrive could save drivers as much as £80 on their monthly insurance premium.

RateMyDrive monitors drivers’ acceleration, braking and cornering over the course of 200 miles. The data is converted into an individual score which can be used to calculate insurance premiums. The app is free and currently available on the Android platform.

Steve Treloar, from insurance specialists Aviva, noted:

“Basically, the premium will be for you, not people like you. While drivers who are ‘safer’ will be rewarded with money off of their car insurance, those who are less satisfactory behind the wheel need not worry. We won’t penalise other drivers if their driving doesn’t come up to the standard set by the app. They’ll just receive the standard premium but won’t get a discount.”

According to Aviva, the RateMyDrive app could save drivers up to 20 per cent of their insurance costs. Aviva suggests that drivers currently paying between £200-£400 could save as much as £40 while drivers paying over £400 could save as much as £80.

RateMyDrive could replace the wave of ‘black boxes’ currently being installed. A raft of black boxes are already recording driver habits and despatching results to insurance companies. In fact, according the British Insurance Brokers Association, almost a quarter of a million drivers currently have their driving habits automatically recorded using black boxes, reducing their premiums by as much as half.

The figure is set to rise as younger and female motorists, impacted by impending EU regulations, begin proving their safe habits by using ‘telematic’ methods.

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