Black box that could change car insurance forever

A revolutionary piece of technology has been introduced into the world of car insurance that could change the industry forever. A "black box" satellite tracker is now being used by some insurers to help track the timing and distance a motorists drives with a premium rate being calculated on these figures.

Car insurance advice from top insurers such as Co-operative Insurance suggests that the revolutionary new way of calculating insurance costs will help drivers save hundreds on their insurance, in particular young driver's car insurance. Young drivers in particular are often charged high insurance premiums as they are seen as the most high risk drivers, most likely to make a claim. However, the new "black box" tracks when and how much a driver uses their car meaning that young drivers who do not drive as much or even drive at night can make huge savings on their car insurance costs.

Huge savings can be made as insurers can now charge different rates for driving at peak or off-peak times of the day. The reasoning behind these being that drivers who only drive at off-peak times of the day are considered much less likely to be involved in a collision and therefore less likely to make an insurance claim, a fair assumption I feel! The policy can also be monitored on the web giving drivers the ability to monitor the cost of their car insurance online.