A way for young drivers to get cheaper car insurance?
Why do younger drivers pay more? Statistically, they’re simply more likely to drive in dangerous ways, which means they’re also much more likely to pay higher premiums.
But of course, individuals aren’t statistics. Plenty of younger drivers are safe behind the wheel – and there’s a new piece of technology that gives them the chance to prove that.
By monitoring their driving habits and charging young drivers premiums that depend on the quality of their driving, the ‘Smartbox’ could earn young drivers a discount on insurance.
As the Co-operative Insurance explains, it’s a ‘Pay-How-You-Drive’ box, rather than a ‘Pay-As-You-Drive’ box. It’s a box that fits into the car and sends information to the ‘online dashboard’ so the insurer can see how safely they’ve been handling things like accelerating, braking, speed limits, cornering and so on.
With so many stories in the papers about the rising cost of car insurance these days, it’s well worth looking into ideas like this.