Wednesday, 21 September 2011

Black Box Insurance – A Few Facts

Black box insurance for young drivers has been around for a few years now but many are still asking - what is black box car insurance and how does it work?

Black box insurance is referred to by many names, from smartbox insurance to curfew car insurance. It's basically designed to be more driver centred so that the premiums are based on you - the driver, not on how you fit into the typical young driver stereotype.

iKube's black box basically fits, discreetly, into the young drivers' car and simply tracks as and when the car is being driven using GPS technology.

The main area iKube is interested in - the part it really tracks is the time of day the car is being driven. Did you know that from 11 at night to 5 in the morning you are more at risk of having an accident than at any other time of the day? Well - iKube has been able to reduce its car insurance premiums for young drivers by stipulating that you don't drive between 11pm - 5am (the iKube red hours).

It's not only to keep your insurance premium low - it also helps make you a safer driver.

In addition to this, when it comes time to renew your young drivers insurance policy, iKube can also offer a whopping reduction of up to 40% on your car insurance premium based on:

  • Your average speed on varying types of road
  • The types of roads you've travelled on - it's not just the cars that carry the risk factor
  • Actual annual mileage travelled
  • How frequently you've driven during the iKube "red hours"
So - as long as you drive safely, sensibly and avoid driving late at night - you could receive a significant discount when you come to renew. Now that's something worth shouting about!