Norwich Union insurance
Norwich Union “Pay As You Drive”™ insurance Norwich Union has launched two innovative “Pay As You Drive”™1 insurance policies. The policies provide motorists with greater control, choice and flexibility over their premiums by offering a mobile phone ‘pay as you go’ style choice for insuring your car. What is it? “Pay As You Drive”™ insurance allows premiums to be calculated based on when, where and how far customers drive their vehicle. Using a GPS device fitted by RAC Auto Windscreens, information is stored from each car journey and transmitted automatically to Norwich Union via a secure GSM network. The data is then translated into a monthly bill, which provides details of each element used to calculate the premium. This includes: • A fixed monthly fee to cover risks such as fire and theft (the Base premium) When customers take out a “Pay As You Drive”™ insurance policy they pay a small advance payment, including a £50 installation fee. Installation is arranged to suit the customer, who doesn’t need to wait until the device is fitted to be fully insured. And customers can extend their policy to foreign travel, with rates starting from just 2p per mile. The policies 1. “Pay As You Drive”™ insurance - available for motorists aged 24 - 70 With prices from as little as 1p per mile, depending on when and where they drive “Pay As You Drive”™ insurance customers could cut their motoring costs, especially if they drive less than 8000 miles a year. Motorists can use the online tool to see if the policy could benefit them. “Pay As You Drive”™ insurance uses a unique peak/off-peak structure with rates personalised to each customer. Rates are subject to regular review and hence the amounts shown provide an indication only
It’s a fact young drivers are at a greater risk on the road than any other age group. With this in mind, Norwich Union has developed a system which charges young drivers higher or lower premiums based on when they drive their cars and rewards them for avoiding peak accident times. Off-peak rates personalised for each customer start at just 5p per mile, with 100 Off-peak miles free each month. The Peak rate (11pm to 6am) is set at £1 per mile.
• Emergency safety button • Satellite navigation • Recovery of stolen vehicles Key benefits of “Pay As You Drive”™ insurance • Fairer pricing • Choice and flexibility • Road safety • Security • Accessibility
1 .Norwich Union Insurance Limited is licensed under the European patent applications Nos. 97904096.1 and 01303501.9 by Progressive Casualty Insurance Company, USA and is proprietor of European patent Norwich Union Insurance Limited. Registered in England No: 99122. Registered Office: 8 Surrey Street, Norwich, NR1 3NG. A member of the Aviva group. Authorised and regulated by the Financial Services Authority.
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