AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year.
Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing.
A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent in a year.
Young males are the most heavily penalised, with the average insurance quote for a male driver aged between 17 and 20 totalling £3,730, while a female driver in the same age group would pay £1,959.
With premiums at this high level, the AA’s latest policy is likely to be welcomed, even though it requires the driver’s performance to be monitored.
Under the Drivesafe scheme a black box device is fitted to the policy holder’s car to monitor a range of driving skills and conditions including speed, braking severity, cornering and the types of roads used during certain times of day.
The system relays the data it collects to the insurer and the driver can check their performance online.
They will also be warned by email if they are driving dangerously.
Although the information could be used as evidence in the case of an accident, it will only be revealed if a court order is presented.
Similar black box technology is already being used by the Co-Op and Coverbox and Direct Line is planning to launch a similar system shortly.
Insurance broker Motaquote today revealed a partnership with sat-nav manufacturer TomTom which will allow drivers to check their performance in real time via an online dashboard.
Simon Douglas, director of AA Insurance said: “Most people can improve their driving standard and Drivesafe can help them to do that.
“I believe that in time, systems of this type will become increasingly widely used by drivers of all ages,” he continued.”
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This isn’t new. A company called Young Marmalade, which specialises in insuring young drivers, lauched this last year. My son, then 17, was one of the first to use it. It was the ONLY way I could get him insured as standard insurance companies were quoting me a minimum of £8,000 third party for a newly qualified 17 year old boy.