One of the main reasons for putting off starting driving lessons is concern at the costs of actually running a car once you have passed.
It is an escapable fact that some insurance companies can charge a hefty premium for newly qualified drivers (especially those who are aged within the 17-21 group) but things could be about to change with the help of a little technology.
Introducing Black Box Insurance
Black box insurance, where premiums are based on the driving behaviour of each 
particular driver, is becoming increasingly popular with young and inexperienced drivers as they try to find ways of reducing insurance costs.
This type of insurance is otherwise known as “telematics” cover, and involves a black box being professionally installed in your car. Once installed, the box will be able to relay information back to your insurer. This information will include how and when you have been driving and will then be used to calculate your premiums.
Here are just 2 of the types of driver who could benefit from having black box cover:
Young drivers
It is a statistical fact that young drivers aged between the ages of 17-24 are more likely to be involved in an accident whilst driving than any other age group. As such, the likely insurance premiums for young drivers are highly likely to be adjusted accordingly.
According to the Association of British Insurers (ABI) drivers in this age group are three times more likely than drivers of other ages to be responsible for “catastrophic claims”.
‘Black box insurance# enables insurers to tailor premiums to suit each individual based on their driving habits, rather than relying on statistics alone to determine the cost of their cover.
This provides young drivers with the opportunity to demonstrate that they are responsible motorists, with premiums likely to be lowered if they have a black box installed than if they instead opted for conventional cover.
New drivers
Recently qualified drivers are very likely to finding themselves being penalised for their lack of experience behind the wheel in regards to their insurance premiums.
‘Telematics insurance’ could help you pay cheaper premiums as premiums will be based on how and when you drive, so the safer you are, the lower your premiums will be.
To see who else these little black boxes could help, please check out the following Telegraph article – http://www.telegraph.co.uk/finance/personalfinance/insurance/motorinsurance/11057291/Six-types-of-driver-who-would-benefit-from-black-box-insurance-and-why.html
