Smartbox could cut youngsters' car insurance costs
If you’re a young motorist who has had to insure your car, you’ll know that it can cost you the literal equivalent of an arm and a leg. If you’re the parent of a young motorist who finds themselves forking out the insurance premium on behalf of said youngster, you probably wish your genitals had never been invented.
But now, those insurance premiums could be reduced as young motorists will get the chance to proved that they’re not all crack-addled speed freaks – and it’s all thanks to a small box that will be fitted to their car and record their driving behaviour.
The box, developed by Co-operative Insurance, will reward drivers between the ages of 17 and 25 if they don’t drive between 11pm and 6am, the most dangerous times for young nutters to get into vehicular scrapes.
Other skills like braking, acceleration, cornering and speed will also be taken into account and good, responsible young drivers could get discounts and refunds on future premiums.
David Neave, director of general insurance at The Co-operative Insurance, said: “It is a fact that many young people are simply being priced out of owning a car due to the escalating cost of motor insurance for young drivers. To ensure we do not end up with an entire generation priced out of car ownership we are giving them a chance to prove themselves as responsible drivers, and dispel the assumption that all young drivers will drive badly and have accidents.”
A 19-year-old called Lee who does handbrake turns in the local Morrisons car park every evening in his souped-up Peugeot 306 told us: “What is it? Nah mate, fuck that for a game of skittles.”