Are the miles I do limited with black box insurance?
Some insurers limit the mileage you can do on your policy and allow you to purchase extra mileage as you need it. On other policies there is more lenience and as long as you do not drastically exceed the mileage you stated in your policy, there will be no increase in charges.
What if I speed or drive recklessly?
Each case will be judged on their own merits and criteria. If you speed consistently or drive unsafely, there will very likely be an increase in your premiums. If this is to a very high degree, the insurer could cease your insurance. You will however get regular updates so you can keep track of how you are driving periodically.
Fitting the Box
A box will be fitted to your car which tracks your driving. The cost of this box is included in your overall policy amount and only takes an hour or so. A technician will come out to you to fit the box, your insurance will however start immediately, before the box is added. If you want to remove the box or switch insurers, you simply contact the insurance company. The box is the size of a phone and will be fitted out of sight, it is positioned so it will not be dislodged easily and you will not know it is there.
Who Is Black Box Insurance Suited To?
Telematics insurance is suited to safer drivers. People that take care on the roads and drive at a safe speed and are conscientious will benefit the most from this type of insurance. At the moment, the better drivers pay more for insurance to allow for the more reckless drivers on the roads. Blackbox insurance has the ability to change this so that people pay according to their driving skill and not the skill of others.
Which insurers cover black box insurance?
At the moment, telematics insurance is quite new and as such thee are around 12 insurers only who offer this type of cover. Amongst them are market leaders such as The AA and The Co-Operative. It is clear though that the uptake of this type of insurance is set to grow and only recently there was a meeting of 350 insurers to work out how to take this further and offer this insurance. You can apply from these different companies above.
Will the black box report me for speeding or other offences?
No, the black box is purely used for insurance purposes and insurers are under no obligation to report any driving habits to the police or any other body.
What sort of fees are there with black box insurance?
Different insurers have different fee structures. Mostly, the cost of fitting the box will eb built into your monthly premiums. However extra costs you may incur include removal of the box if you cancel your insurance, missed appointment fee for the initial fitting of the box, moving the box to a new car and damage to the box that was a result of negligence or tampering. It is important to check with each individual insurers Terms and conditions to get a better understanding of these costs and where they apply.