UK Car Insurance Firms to Install Smartboxes for Lower Premiums

Young male drivers between the ages of 17 and 24 who have gone through the scandal of outrageously expensive insurance premiums when searching for insurance coverage for their first vehicle may have found some hope in the guise of a small electronic smart-box which can be installed under their vehicles. The electronic smart-box will be able to measure how they are driving and allow their insurance companies to then tailor their car insurance premiums accordingly.

The new electronic boxes will be a gift from heaven to a great many young and male drivers who see that they are continually discriminated against thanks to the stereotype of crazy boy racers. The new electronic pay-as-you-play units, that will take digital telematics out of their cars, will have the ability to monitor and judge the young driver’s driving approach, recording their speed, their braking and their cornering. The electronic smart box will be fitted underneath the vehicle – should it then record any kind of extreme G-force, harsh braking, reckless cornering or driving for too long without stopping for a break, then that driver’s insurance premium will be going straight up.

The new electronic system has already been implemented by the AA in the UK with a great many young drivers now being charged purely according to how many driving miles they do and with them paying their premium in advance for the first 5000 miles. However, once that first pre-paid mileage has been used up they are allowed to buy more miles but if they have driven badly the price will go up or they will not be allowed more credits. If they have been driving safely, then the price goes down.

Alex is a freelance journalist and financial blogger. He loves to write about football and jazz but spends most of his days writing about mortgages, credit cards and tax reduction .