Fuel Card News Motoring Updates: Black box recorders grow in popularity
The number of drivers installing black box recorders into their cars has increased 15 times from 12,000 to 180,000 in just three years.
These boxes are often installed in the dashboard and monitor speed, acceleration and braking, and the times of day the vehicle is in use, giving an overall driver ‘score’.
Their popularity has soared, particularly with young drivers, as they can cut insurance premiums by substantial amounts.
Eighteen-year-old Grant Smith installed one in his £500, second hand car: "I started off with insurance quotes between £3,000 and £8,000. That's when I decided to start looking into getting a black box in my car. I managed to get it down to nearer £1,000 which was much more manageable."
The safer the driver, the better the score and the lower the premium. However, the boxes can sometimes cost hundreds of pounds to install and there’s no guarantee your premiums will come down - depending on your driving, premiums can go up as well.
Graeme Trudgill who works for the British Insurance Brokers' Association (Biba), believes they will continue to grow in popularity: "It's the start of a whole new way of looking at car insurance.
“We think there are going to be half a million more policies in the next two years. So you can expect more and more brands, more and more products from insurance brokers and insurers coming out."
In other news, the Olympic Games are set to create a 30 percent increase in traffic in London during the games.
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