Could a black box reduce your car insurance premium?

Could a black box reduce your car insurance premium? On its own, NO. Btw Good description of my driving style in there.

Cameras in cars would be a good idea, if at the end of your drive you could rewind it and send clips to the police about the style of some peoples driving. Like lane hogs, not indicating, cutting corners.

The idea that all insurance premiums are a big expense is false – myself and Mrs R pay either side of £200 for car insurance – I don’t see that as unreasonable given the possible cost of a claim, particularly for personal injury. I do see black boxes as a sensible way to differentiate those younger motorists with a sense of responsibility from those who have yet to learn that a car is a lethal weapon. If they allow these good drivers to gain decent premiums rather than penalising them just because they are young, then I’m all for it.

The notion that you can drive badly so long as you can afford a higher premium needs more careful consideration from a moral and ethical viewpoint. I should like the motor insurance industry to tackle its own behaviour and clean up its act at the same time as putting yet another gadget in the car that will be open to all manner of arguments and manipulation. Dealing with false and excessive claims, and making more sophisticated risk assessments before setting premiums would be a good start.

It’s a bit big brother but I’d do it in a flash to reduce my premiums. After our car was stolen I considered it and wrote about it here http://wp.me/p2rfwK-lU Once this beady eye is fitted in your car, insurers can monitor how you drive, what time of day, the routes you take etc and recalculate your risk of having an accident based on this more sophisticated information, rather than just the initial info you give when you ring up for a quote. So, if you’re in a high risk group but drive in a low risk way you could see your premium come right down. I’d be tempted.
And it helps with better driving all round, I think. If you know you’re being watched you’re less likely to drive no-hands while eating cereal and shaking your booty to Beyonce. (Whaddya mean you never have?)

Black Box Car Insurance is coming whether you like it or not, it will grow, it will take over the UK insurance market and you will eventually have no choice whether or not you have a Black Box Insurance policy.

I see its future as a way of calculating the risks associated with where,when and how far you drive.
Unfortunately I suspect a big chunk of one’s premium is not associated with the above data.

The better the risk analysis the wider will be the spread in the cost of insurance e.g. some will go up and some down but the average will stay the same. A drop in fraudulent claims would probably make a far bigger difference to premiums.