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Black Box Insurance – How much can it save you?

Black Box Insurance – How much can it save you?
Paul Daly
  • On April 1, 2015

With Young Drivers Insurance prices on the rise, finding a policy that fits your specific needs and requirements alongside fitting in with your budget can be a tiresome and somewhat demotivating experience. The answer to your search may well be found by looking into Black Box Insurance.

What is Black Box Insurance?

Black Box Insurance, also known as telematics, is a cost effective way for drivers to save money on their annual premium. A ‘Black Box’ is fitted by a ‘Black Box’ engineer, usually underneath the dashboard of your car and this then measures and reports on your driving performance, monitoring key factors including (but not limited to) driving times, acceleration, braking and speed.

Hear it for yourselves…

Young Driver on Telematics Insurance

Young New Driver

Safely Insured have a dedicated Young Driver insurance department and not only do they highly recommend black box insurance, many of the staff actually have the telematics system installed on their own vehicles and are reaping the benefits of this new type of insurance policy for young drivers.

Ollie Neville is an 18 year old driver who is currently benefiting from the Black Box Insurance. Upon initial conversations with Ollie, when asked what first made him want to take out a Black Box Insurance policy Ollie explained that cost was a huge factor. Ollie confirmed, “After seeing a huge reduction in my first annual premium, I knew this was the insurance policy for me.” He explained the box was quick and easy to fit, at a location suitable for him, at a time convenient to his schedule.

The benefits don’t just stop at the financial rewards. Ollie went on to explain that he also thought the scheme was beneficial in respect of improving your driving ability. With the use of an online report system, not only can he view how well he is driving, he can also keep track of where he is going wrong and make the necessary changes to ensure his areas for improvement are continually being worked on. In effect, the better he drives, the better the quote he’ll receive upon his annual renewal.

When asked which feature within the insurance scheme he believes the majority of people would benefit from, Ollie thought that the cost savings would be the overall decider. He experienced this for himself, with initial reductions of hundreds of pounds on his first annual premium.

Peace of Mind for Parents

Reviewing Telematics Results

Reviewing Driving Patterns Saves Money Long-term

Ollie said that he can’t really see the bad side with his insurance policy; he believes it’s a scheme which provides everyone with peace of mind.

Talking about peace of mind, it’s a point worth noting that in addition to the driver being able to log-in and review their driving progress, their parents can also do the same, if you want that to be set up. Some parents make a point of sitting with the young drivers to talk through good driving behaviour and this can often be helpful.

How Well Does Telematics Work?

Meet Charlie Crosby, aged 19 – Charlie took out his policy two years ago and explained he saved himself in the region of £500 by using this scheme as opposed to a ‘standard’ insurance scheme upon his initial annual premium. Charlie said, “I’m looking forward to my renewal as it will be heavily discounted due to my good driving performance.”

In terms of safety, Charlie pointed out an additional great factor in respect of any accidents, that the signals can transmit to your insurer, notifying them that an impact has taken place. They can also, if needed, contact the necessary emergency services to attend the scene, if you or any other parties are unable to notify them yourself.

In addition to safety features, just like Ollie, Charlie explained that he believes most people would benefit from the cost savings by taking out a Black Box Insurance Scheme, in particular, younger drivers.

Insurance premiums for younger drivers are making it harder and harder for them to actually get on the road. After passing their test, they then have to consider all the additional financial implications they will face along the way. With the Black Box Insurance scheme, not only can people rest assured in the ability of their driving being measured, whereby improvements can be made in certain key areas, they can also see a much happier bank balance.

Safely Insured’s Black Box Insurance Scheme, which is underwritten by Aviva, is one of the most competitive around and with no curfews or driving restrictions. You can also start the cover whilst still under your provisional licence without having to change a thing when you pass your test.

Call for a quote today on 03303 331 256 or view our Black Box Insurance page.