Wednesday, 22 February 2012

iKube Welcomes Fair Pay Insurance

iKube Insurance are proud to welcome Fair Pay Insurance – another telematics car insurance product brought to you by iKube’s parent company, Motaquote.

The latest addition to Motaquote’s black box insurance family has finally arrived and seems to be ready to make an impact on the car insurance industry. But what does Fair Pay do that iKube doesn’t?

Well iKube is solely aimed at young and learner drivers between the ages of 17 – 25 and offers competitive cover based on the agreement that the young driver doesn’t drive between the time of 11pm – 5am (the iKube red hours), in an effort to keep them safe.

Fair Pay Insurance is aimed at a far broader market. From female drivers to experienced young drivers (i.e. 25+) who feel discriminated against due to where they live or the type of car they drive.

Fair Pay Insurance is what’s known as a “pay as you drive” insurance product, however, unlike other pay as you drive car insurance schemes Fair Pay will reward you up-front (and give you a TomTom).

If you tell Fair Pay that you are a good driver they will believe you and offer you the mileage points up-front as well as reward you with bonus mileage points.

How you use those mileage points is up to you. The TomTom that Fair Pay gives you isn’t just there as a gimmick to encourage you to buy the cover. It is so much more than just that.

The TomTom will give you real-time feedback on your driving behaviour so it makes you aware of incidents whilst you’re driving – such as speeding, braking too hard or taking corners too fast. If you adjust your driving style accordingly you may get rewarded further at renewal.

When your renewal arrives Fair Pay can discount your car insurance again – since you have the data to prove that you are a good driver (thanks to your TomTom).

Sound good? Check it out over at