Insurance is essential when you’re a vehicle owner, but one time when having insurance can seem more like a hassle than a comfort is when it comes to young driver insurance. Insurance companies know that young drivers tend to be more likely to get into accidents than older, more experienced drivers. That’s one big reason why the insurance for young drivers is so much higher than it is for adults. In fact, it’s not uncommon for the young driver insurance payment to be more expensive than the car is even worth! But, legally, you’re required to have insurance no matter what age you are. Thankfully, there are a few ways that you can lower the insurance premiums.
The Black Box
The “black box” has been around for a while. This system uses a data recorder box that is fitted into the vehicle that the young driver primarily drives. The information that is recorded in the black box is sent directly to the insurance company. Black boxes are directly wired into the car. Because they’re hard-wired, the teenager cannot turn them off. This means that they provide extremely accurate data about your teen’s driving habits to the insurance company. There are also black boxes that are not hardwired and can be fitted under your dash, but you don’t tend to get the same kind of discount on your policy that you would with the hardwired version.
These devices typically look at braking, cornering, acceleration, and speed to monitor the way that your teen drives. Some of the black boxes even give the driver a look at how well they’re driving, with their own online dashboard, showing the score that the teenager, or young adult, gets. The better the score, the happier the insurance company will be. If you get a lower score on your trip, you’ll receive an email which will give you tips on how you could have been a better driver on that specific trip. If you score particularly poorly, the insurance company is notified and, after a specific number of bad trips your insurance premium will actually increase. These devices certainly help young drivers to learn how to drive better, especially since there are monetary consequences for bad driving.
In the past few years, dash cams have become more popular and are now an option for some insurance companies to help lower young driver insurance. These dash cams are always whilst driving. They’re hard-wired so that when the ignition starts, they turn on. They only turn off once the car is turned off. These dash cams don’t directly monitor the driver’s style, but they can help the insurer see who is at fault if the young driver happens to get into an accident.
While young driver insurance can be costly, there are a few different ways to help bring the pricey premium down. It’s also good to remember that the fewer accidents and incidents you have when you’re a young driver, the cheaper your insurance will be when you’re an adult!