A black box fitted to cars to reduce young drivers insurance premiums cannot be a bad thing, can it?
Young motorists can now reduce their insurance premiums by installing black boxes in their vehicles, Vauxhall reported. These devices can be fitted to both new and used Vauxhalls and purchased through the dealer network and insured by Ingenie.
How does it work?
The black boxes work in a very similar way to the black boxes you would find on an aircraft. The boxes create driver profiles based on how the vehicles are being driven. Factors which can affect the cost of your insurance premiums include speed, cornering, acceleration and braking. Rather than looking at isolated incidents the boxes tend to pick up on trends of behaviour and driving style.
Ingenie then reviews this information every 3 months and then charges the drivers according to their behaviour whilst driving. Motorists can also monitor their progress online and by using a mobile phone application.
Can I qualify?
Drivers must be between the ages of seventeen and twenty-five.
Is it really worth it?
Vauxhall say that young drivers could save up to 10 per cent on their first year premiums by having these black boxes fitted. That is quite a considerable amount when you consider the amount that younger drivers generally pay for their insurance premiums. It is best not to assume that the long term cost are less than the normal policies, as this may not be the case. They might be however it is always worth double checking.
What are the benefits?
The main factor which should be taken into huge account is the way young people drive. Not all young drivers are the stereotypical ‘boy racers’, but yet the insurance companies still charge through the nose for their insurance premiums, generally just based on their age.
Well now with this new black box, this could really benefit the many young drivers out there that do drive safely and this in turn will obviously save them a sizeable amount when it comes to renewing their insurance policies.