How Black Box Car Insurance works.
With Black Box Car Insurance a GPS box is installed in your car, or a smart phone app can be used with some providers, which then measures your performance behind the wheel by transmitting information back to your insurer.
How do insurers measure your driving?
Each insurer will have a slightly different matrix for deciding whether you are a good or bad driver, but most will take into account the following:
- Braking (sharp braking is frowned upon)
- Corners (taking corners smoothly/gently)
- Consistent Steering (no sudden veering)
- Speed (staying within the speed limits)
- Time at which you drive (driving at night is considered more risky)
- The amount of miles (lower mileage usually gets lower premiums)
- How Insurers reward good driving
This will depend on the type of policy that you have. If your policy is based on discounts you will either be rewarded with money back monthly, quarterly or as discount on renewal.
Policies that are based on mileage – where there is a limit on how much you drive – often have bonus miles as rewards that are given out monthly or quarterly.
How do I monitor my driving?
Black Box Car Insurance providers send you frequent feedback so that you can monitor your driving and will pick out trends that affects how your premium is calculated. This feedback is accessible online.
How is the Black Box Installed?
If your provider doesn’t provide a smart phone app, you will need to get a GPS tracker installed in your car.
What documents do I need to show the installer?
Your driving licence or the certificate showing that you have passed your driving test. The V5C (log book) that shows proof of ownership and ownership history or confirmation of purchase of the car from your dealership if you are still waiting for your V5C.
Also, if relevant, proof of you no claims discount from previous insurers.