As with standard motor insurance you answer a set of questions that calculates an annual premium, With Coverbox there is one difference, once you answer the risk questions it calculates the risk premium specifically for you and your vehicle. We then ask you how many miles a year you think you will drive and when you think you will drive those miles. Once we have that information we apply the cost per mile and time multipliers to forecast a premium. This is why it is important to think about the miles you will drive and when you drive the most so you can get an accurate forecast of the cost of Insurance.
Think of the insurance cost like a utility bill. At certain times of the year you will drive more miles than forecast and at other times less, just like you use more water in the summer than in the winter. Unless your mileage is consistently higher or lower than your forecast your direct debit will remain the same and at renewal any debit will be collected from you, or any credit refunded or deducted from your next year's insurance premium. It is important to note that the cost per mile may change if your actual mileage reduces or increases against forecast.
We install a Coverbox in your car, which also provides you with theft tracking so if your car is stolen we are able to track its location. The Coverbox sends us the mileage when you drive the car so we can check it against the mileage that you told us that thought you would do.
No, we do.
No, and it does not invalidate your manufacturers warranty. All our installers are trained professionals.
If you think that the additional mileage that may occur will take you over the forecast for the year then just give us a call and we can check it out for you, alternatively you can go to your own personal webpages - dashboard and re forecast your mileage to see the change - then make a call to us and we will update your premium and amend your direct debit if appropriate.
No, your insurance would still be valid.
We have trained professional installers who place the coverbox in the car, we don't publish where it is located for security reasons on the theft tracking
Yes.
We provide you with your own web page where you can view your monthly mileage to date and other useful information from the vehicle that can help with petrol consumption.
The easiest way to think about your Coverbox policy is to compare it to a utility bill. At certain times of the year you will drive more miles than forecast and at other times less, just like you use more electric in the winter than in the summer. Unless your mileage is consistently higher or lower than your forecast your direct debit will remain the same and at renewal any debit will be collected from you or any credit refunded or deducted from your next year's insurance premium. It is important to note that the cost per mile may change if your actual mileage reduces or increases against forecast.
Contact the Insurance Administrator who will investigate for you
You need to tell the new owner that the box is in place and when you contact the Administrator let them know the new owner details. If you would like to transfer your coverbox policy to another car then the Administrator will arrange this for you, a fee will be charged.
The technology in the box allows us to fix it remotely in over 90% of cases, if that is not possible we will send a representative to identify the problem and fix it or replace the box. Whilst the box is not operating we will charge you a daily rate based on your forecasted mileage.
We charge you a daily rate, based on the forecast mileage that you gave us for the quote, until the box is fitted. Installation takes around 20-40 minutes and an appointment must take place within 10 days of the policy commencing.
As with standard motor insurance you answer a set of questions that calculates an annual premium. With Coverbox there is one difference, once you answer the risk questions it calculates the risk premium for you and your vehicle. We then ask you how many miles a year you think you will drive and when you think you will drive those miles. Once we have that information we apply the cost per mile and time multipliers to forecast a premium. It is important to think about the miles you will drive and when you drive the most so you can get a correct forecast on the cost of Insurance.
The box lets us know the miles that you drive and at what time you drove them. Based on the per mile cost of your insurance which is on your schedule we calculate your insurance costs. The box also provides theft tracking, which means if the car is stolen we can trace it. 98% of cars are traced within 1 hour.
This is a pay as you drive policy, and you are charged for the miles that you will drive, subject to a minimum annual premium of £180. The insurance is comprehensive, so even if you are not driving the car it will still be insured for theft and accidental damage as per the policy conditions.
The easiest way to think about your Coverbox policy is to compare it to a utility bill. At certain times of the year you will drive more miles than forecast and at other times less, just like you use more electric in the winter than in the summer. Unless your mileage is consistently a great deal higher or lower than your forecast your direct debit will remain the same and at renewal any debit will be collected from you and any credit refunded or deducted from your next year's insurance premium.
If your car is stolen then you need to contact the police, obtain a crime reference number from them and advise them that your car is fitted with a COBRA tracking device. Contact the theft help line number on the cover of the policy booklet and give them your policy number and the crime reference number. They will then attempt to trace your vehicle and notify the police. You should also notify the claims help line that the vehicle has been stolen.
You have your own personal website for coverbox - dashboard, and that will show you if there is a problem, but there is nothing you need to do as we monitor the boxes and will be able to see if there is an issue and in most cases we can repair any fault remotely.
No, we can just leave the box in your car.
We do, but you have our permission to have the box in your car.
Two main categories of Driving Times:
- Peak Times (both Experienced and Young Drivers)
- Off-Peak Times
If there is a driver on the policy under 23 years old then there is also ;
- Young Driver Super Peak Times
With some of the policies off peak costs less per mile than the other two. Basically you tell us the miles that you will drive in the year (roughly) and then we make an assumption on the amount of hours you will do in rush hour and super peak (if applicable ) You can then amend those splits if you don’t think they are right. We then allocate a rate per mile and give you a forecasted insurance cost which you can control through the year. If you drive less than you forecast then your insurance cost will go down and vice a versa. The rates per mile can sometimes be the same in the timezones.