A car insurance product designed to offer a discount to young drivers called iKube, is offered by Motaquote, which is a part of Protectagroup. The company, which started in 1991, and has therefore been in business for over 12 years, has underwriters for iKube from some of the most respected car insurance providers in the industry. This includes companies such as AVIVA, which is the UK’s largest insurance service provider and Equity Red Star, UK’s 6th largest car insurer, among others. The iKube car insurance was designed around a telematics or black box GPS device that would allow a discount to young drivers that stayed off the road at peak times for accidents to occur.
Product Description
The iKube car insurance took into consideration that young drivers are more likely to be in an accident if they are on the road driving between the hours of 11 PM to 5 AM. By pushing a young driver to have incentive to stay off the road during those hours, iKube passes along a discount. The use of a GPS device attached to the vehicle monitors if the car is driven during these peak hours. If so then the risk of being on the road during this time is put upon the driver’s insurance account by charging up the account by £100 per night. If the vehicle is kept off of the road during these peak accident hours then there are no penalties applied to the original discounted coverage rate.
To qualify for iKube you MUST:
- Be between the ages of 17 and 25 years old
- Have a UK full or provisional license
- Be the registered owner and keeper of the insured vehicle
- Be the primary driver of the vehicle
- Be the youngest insured driver of all names registered to drive the vehicle
- Be using a car that is not older than 20 years old
- Be looking for a policy to cover you within the next 30 days
- If you have a provisional license and are looking to take out the Learner Driver Insurance, must not have had your driving test within the first 30 days of coverage from the policy.
GPS Considerations
The iKube car insurance involves the installation of a small GPS box, called the iKube box, in the vehicle that will be insured. This installation is quick and easy and can be done either while you are at work or home. The installation takes less than 60 minutes and does not require any changes to the vehicle to install the iKube box. When the policy is canceled the iKube box is removed. It is standard that there is an installation fee for the iKube box.
Benefit on Comprehensive cover
The iKube does include some very attractive features when obtaining their comprehensive cover such as theft tracking. Since there is an iKube box on the vehicle it can be used to track where the car has been driven and locates the vehicle if it has been stolen. In addition, the comprehensive cover policy includes a courtesy car should there be an accident of the vehicle, £10,000 personal accident coverage, personal effects coverage of up to £150, medical expenses up to £100, coverage when driving abroad, as well as online data viewing of journeys taken in the vehicle.
The data obtained from the iKube is visible to the insured driver online. Information obtained from this data is strictly private and can help the driver better understand the total miles driven in the vehicle, driving history for a particular period such as day, week or month, and even miles per hour per journey.
Optional Extras
There are optional extras that can go along with an iKube car insurance policy just as any other car insurance policy would cover. These are not standard, but optional only and can be added to a policy in part or all of the options. There is a fee of course for these optional extras, some of which are:
- Coverage for gadgets within the vehicle
- Key care
- Legal coverage
- Breakdown coverage
Policy Fees
There are policy fees for which a young driver considering iKube car insurance should be aware. Along with a fee for installation of the iKube, should the policy be cancelled before term and the unit be requested to be removed, then there can be an additional fee. There is also a fee should the iKube unit need to be moved to a new vehicle during the course of the policy. Another policy fee the driver should be aware of is that should the appointment to install the iKube be missed without prior cancellation of the appointment or postponement within the policy’s guidelines there will be a missed appointment fee assessed. Other fees could apply that are not listed.
The one policy fee that is involved with iKube that must be considered at all times is that there is a banned driving time during hours of 11 PM to 5 AM time period, called the Red Zone. Should the vehicle be moved more than 100 meters during the Red Zone time period there is a fee of £100 per night that is assessed to the driver beyond the original policy cost. The vehicle does not have to be at the home location, but rather must not be moved beyond the standard 100 meters during the Red Zone to keep from having a fee. Policy fees involving the £100 assessment are not added to the premium, but rather the company contacts the policy holder and determines an arrangement to pay the fee.
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