Good Insurance Company for New Driver Insurance
What is black box insurance?
Black Box insurance is a policy which rewards responsible (usually young or inexperienced) drivers with lower premiums, and typically comes with the added benefit of encouraging safer drivers. This type of policy allows young drivers to start with a more-reasonably-priced-than-most insurance policy, and depending upon how they drive throughout the year, this then allows them to be open to possible further reductions to their premium at their next renewal.
Why is car insurance for new drivers so expensive?
Young drivers have the highest accident rate on the road. This, combined with their inexperience and newly acquired driving skills, suggests just how unsafe they could be on the road. Due to these factors, insurance companies will calculate the average premiums for young drivers with what the statistics show, which is often that young drivers can be more of a liability on the road.
What is a black box?
A Black Box, also called a Telematics Box, is a small device that is fitted into your car. It is there to monitor your speed, distance travelled, breaking, accelerating, cornering and can even monitor the times of day you travel. With this information provided to your insurer, they are able to accurately assess your driving style and how safe you drive in all situations.
In allowing your insurer to have access to this information they could accurately calculate your renewal premium based on your driving capability, rather than just your age and No Claims Bonus. The black box policy is a good insurance for young drivers who are looking to lower their premiums by engaging in safe driving practices.
It is possible that there are other certain factors that could reduce your premiums such as limiting your exposure to night time driving. Statistically it is far more common for young drivers to encounter accidents at night than during the day, and thus avoiding night time driving as much as possible may raise your chances of a better score and lower renewal premium.
What are the benefits of having a black box fitted?
Essentially, if you are a new driver, then in return for having a black box fitted to your car, your insurer will offer you a cheaper insurance premium. For some new drivers, a black box is the only way they can afford to get on the road. What’s more, the safer you drive, the lower your premium could turn out to be when it comes to renew it in 12 months’ time. Young drivers could save up to 37% upon renewal after their black box was installed. There are several ways in which you could lower your premiums through the use of a black box, and ideally as a young or new driver you’d like to avoid any situations that’d cause damage to your car. In being careful of the times of day you drive, the areas you drive in, areas you park your car in and ultimately how you drive, you are raising your chances of a potential lower premium.
Additionally, these benefits are not just limited to a cheaper insurance policy. Insurers have the data to be able to provide the driver with constructive feedback on how to improve their driving, or what they could do when driving, to increase their driving score.
The implementation of the black box policy is a contributing factor to a more risk aware driver. It is said that young drivers could find a substantial improvement in their driving capability, with most of them finding that they are more aware and cautious with how they drive once they’ve had a box fitted.
Statistics have shown that serious driving accidents among young people have decreased by 25% since the Black box policy was implemented. This could be seen as an example of its effectiveness.
Get a quote from some of the UK’s best insurance brokers
It is difficult to judge how reliable an insurance company is until the dreaded time you need to make a claim. This is a stressful time for Young Drivers who are facing one of their first big decisions. If you are looking for good insurance companies for young drivers then it is important you do your research, read reviews from other customers online, and make sure you understand what rules there are with each company.
Still not convinced? There’s no commitment in getting a quote, nor if you just simply want more information on the policies offered, so why not phone a black box insurance broker and chat through your questions?
Once you’re ready to get your quotes and weigh up your options, be sure that you have all the related information you need to prevent any of your time being wasted. Things such as driving licence, address, payment details, licence, number plate and vehicle type are questions that will be asked by most insurance companies. You’ll also need to know where your car will be kept at night, as mentioned above, this can affect the premium on your insurance policy. The safer, the better!