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Friday, 10 January 2014 13:09

Cheaper Car Hire in the Future?

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Yesterday's news that driving licence records could go online might result in cheaper car hire.

According to the FT, the new scheme, called MyLicence will allow drivers, as well as insurers and car hire companies, to view an individual’s driving history via the internet.  This will mean that they can be absolutely sure that the information they receive is 100% accurate.
 
The Association of British Insurers has estimated that for the “honest” motorist, the potential savings from having this data available could be up to £15 on their car insurance premium, said the Cabinet Office.
 
Francis Maude, cabinet office minister, said insurers currently priced in a “risk premium” to cover themselves against drivers who understated the number of points they had accumulated on their licences.
 
The announcement also said that paper licences will be phased out by 2015 – good news for those of us who can’t remember which draw the paper bit is stuffed in!
 
MyLicence is expected to go live in June 2014.
Last modified on Friday, 07 March 2014 10:30
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