Pay as you drive!
Supermarket Compare can reveal that the Co-operative have joined the pay as you go car insurance market launching into a second run of schemes with not only cheaper premiums from young to older drivers.
This has caused upsets in the insurance world and has forced larger insurers to consider offering similar schemes with only a very few insurers currently implementing this system in association with Coverbox, an internet based insurance brokering company.
The revolutionary system uses GPS to track the vehicles whereabouts and mileage using a ‘black box’ the system can then generate a pay as you go rate based on a number of factors including on or off peak vehicle usage, mileage and other variables.
The new scheme is welcomed by younger and unemployed drivers in the current ecomonic crisis as an affordable way to continue to drive with insurance where it may not have been possible with the traditional method of insurance.
News brought to you by the Compare Supermarket.Comparing quotes from the car insurance world!
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