More young drivers save on insurance with a Tracking system
It's been all over the news this week about how tracking systems can help save young drivers money on their insurance. Well some Insurance companies do offer reductions already, especially if you have a Phantom Tracking system fitted. We sell tracking systems for fleet and personal use as well as the leisure market at varying costs and offer bespoke systems that can in the long run save you money. If young people were to contact us then we can offer them options at a variety of prices and even have some insurance contacts that may help them find better savings when insuring their vehicle . The article below is from the BBC Radio 1 Newsbeat Website There's been a big rise in the number of motorists using black box recorders in their cars. By Dan WhitworthNewsbeat reporter For many drivers, especially younger ones, they can help cut the price of car insurance. But critics say at several hundreds pounds they cost too much and aren't bringing prices down far enough. Three years ago there were 12,000 motor insurance policies which used black box recorders but now there are around 180,000.
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
Graeme TrudgillBritish Insurance Brokers' Association (Biba)
The boxes are often placed inside a dashboard and can monitor things like speed, acceleration and braking and the times of the day that the cars are on the roads. The safer the driver, the better the score and the lower the insurance premium. But prices can go up as well as down and some black boxes can cost several hundred pounds to install. Eighteen-year-old Grant Smith says it made sense for him to get one for his 500 pound, second hand car. He said: "I started off with quotes between 3,000 pounds and 8,000 pounds. "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 pounds which was much more manageable." But they don't work for everyone. Grant's friend, 17-year-old Helen Kirk, doesn't have one in her car. 500,000 new policies "I think they are a good idea but then there is also the pressure of having to drive well," she said. "That may cause people to make a few mistakes and then their insurance is going to go up."Helen Kirk thinks black box recorders could put too much pressure on drivers Grant also has reservations about having a black box in his car. "I think there's a stigma with it as well," he said. "A few of my friends are saying, 'You're going to drive like a granny' but I don't care because I'm going to get cheaper insurance." Whatever motorists think, the insurance industry is getting behind black box recorders. Put in the context of more than 20 million motorists in the UK, 180,000 black box policies may not seem a large number. But Graeme Trudgill who works for the British Insurance Brokers' Association (Biba) says more are on the way. "It's the start of a whole new way of looking at car insurance," he said. "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."