Although black box or telematics insurance policies are typically directed towards young drivers, don’t let this put you off enquiring if you are an older or more experienced driver.
Black box or telematics car insurance policies will monitor the quality of your driving through an electronic box fitted within your vehicle that will transmit information directly to your insurer. If that data reveals that you are a responsible driver, the cost of your insurance policy could reduce and you might also become eligible for other benefits, such as the addition of extra miles to a fixed-mileage policy.
Generating good driving data
Black box technology will utilise motion sensors and GPS positioning to determine the quality of your driving. Smooth braking, careful cornering and adhering to speed limits will make you a much more appealing driver in the eyes of motor trade insurance companies than if you were to hurtle around every corner and aggressively hit the brake or accelerator pedal.
Insurance companies might also monitor how frequently your car is used, the types of roads you drive on and the number of miles you are covering. This data is collected and used to create a personalised risk profile that will be markedly more accurate than one created using more general datasets like your driving experience, postcode and age.
In many cases, you will also have access to this data and your black box and/or smartphone app will make suggestions on how you could improve your driving.
Benefits and savings
As this article explains, black box technology is proving to be so effective that the EU is considering proposals to install them into every new car. Black box insurance policies are generally less expensive than standard policies and premiums might also reduce further if you build a recorded history of responsible driving. On the other hand, your premiums might rise if the data your black box collects suggests that you aren’t driving as safely as you could be.
To see if a black box policy is right for you, enter your details into an insurance broker website, such asQuotemetoday, which will display the best insurance deals for you.
In some instances, you could stand to save up to 50%, but remember, if you have a good insurance history a black box policy might end up working out more expensive.