Six Kinds Of Motorist Who Would Profit From ‘black box’ Insurance And Why

November 25th, 2019

Black box insurance, where premiums are dependent on motorists behaviour, is widespread across young motorists who aim to bring down the expense of cover, however drivers of all ages can also profit from their usage.

Black box insurance, also known as, “telematics” cover, and constitutes a professional installation of a black box in your vehicle. The box analyses when you takes the road and how, translating the facts back to your insurer, who then determine your premiums using the data received.

Below are six kinds of motorist who may profit from having black box cover:

Young drivers

Motorists aged between 17 and 24 are statistically more likely to be involved in a car accident, resulting in sky-high premiums. From the research undertaken by the Association of British Insurers (ABI) motorists found in this age cohort are thrice more likely than those of other ages to be involved in a “catastrophic claim”.

Black box insurance allows insurance firms to tailor premiums to match an individual to their driving characteristics, as opposed to relying solely on statistics to assess their cover expenses. Therefore as long as young motorists can showcase that they are mature drivers, premiums will be reduced than if they had just gone with conventional cover.

New drivers

Irrespective of your age, if you have only freshly passed your driving test, hence your experience on the highways is limited; you will also be measured by insurers as high risk. Telematics insurance may assist you through lowering your premiums as they will be assessed on when and how you drive, hence the more safe you are, the smaller your premiums can be.

Low mileage drivers

If you are a motorist who drives a small number of miles infrequently, then paying the same insurance as a person who drives 10,000 miles annually is illogical. A huge number of black box policies offer the opportunity to select the amount of miles you will drive, and use this number to calculate your premium. If you do not go above this number, then no extra charge will be incurred.

If you are a motorist who needs extra miles to go a bit further then top up miles are offered in bundles of 250, 500, 1,000 or 2,000 miles.

Equally, Coverbox provide a “pay as you drive” scheme, whereby allowing you to purchase extra miles if your yearly mileage is underestimated.

Careful drivers

If you are proud of calling yourself a very safe driver, black box insurance may possibly reward you with smaller premiums. For instance, Ingenie black box cover reviews your policy every three months and applies a discount if you are driving well. As a result, Ingenie has found that 70% of their customers have received a discount for good driving.

Slow drivers

A boy racer? Black box insurance is no use to you. You do not need to be driving at snail’s pace, but it is imperative you stay within the speed limits. Keep in mind that speed can be measured in different ways. For instance, taking corners sharply and braking whilst doing so may work against you if a black box is put in your car. Equally, you will need to ensure that you do not accelerate too quickly from traffic lights or brake furiously when seeing a traffic jam ahead of you.

Daytime drivers

Driving in the early hours of the day or late at night is believed to be far riskier than driving during the daytime. This means motorists with black box insurance have a greater chance of seeing their premiums increase as a result of driving frequently at night. Insurers like iKube and Co-op, place curfews hence driving late night may incur fines or rising premiums. So if you usually drive throughout the day,, then black box cover may be for you since driving throughout “low risk” periods offers rewards.

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