What is a Black Box?
Often known as Telematics, The Black Box is fitted to your vehicle, it will always be on and will not affect the vehicles performance. It usually is in a tamper proof, sealed box.
Vehicles fitted with a black box will help your car insurance, Black box car insurance policies works out your premium based on how you drive. Basically a GPS (Global Position System) is installed in your vehicle, this then transmits information back to the insurer so it can measure the way you drive, day in, day out. Some providers use a smart phone app.
So how do the insurers measure the way you drive?
They all do this slightly differently but basically they use metrics for deciding whether you are a good or bad driver. Most account for the following:-
- Cornering (taking corners gently)
- Consistent steering (no sudden veering)Braking (sharp braking is not considered good driving)
- Speed (staying within the road limits)
- Time at which you drive (a lot of night driving is considered more dangerous)
- Mileage (drivers that do less miles usually get the lower premiums)
Insurance companies reward good drivers?
Rewards are based on what type of policy you have. If you have a discounts based policy, you will be rewarded with money back on a monthly basis, quarterly or as a discount at renewal period. When the policies are based on mileage – (basically when there’s a limit to how much you drive) – often you have bonus miles that are awarded on a monthly/quarterly basis.
In terms of punishments, some insurance providers could potentially increase your premiums. While others ‘could’ cancel your cover altogether you are caught breaking the law (mainly in terms of speeding).
How to monitor your driving
Black box insurances send you feedback so that you can keep an eye on your own driving performance. They will pick out stats to show you how your premium is calculated. These stats are usually accessible online or providers that have Apps can often give you access to this data.
The black box is around the size of a large box of matches and are usually fitted behind the dashboard.
There are no installation costs for the Black box but you might incur a re-installation fee if you decide to change your vehicle.
What documents do you need to show your installer?
- Driving licence.
- Logbook that shows ownership of the vehicle.
- Proof of your no claims discounts from previous insures, if this is relevant.
Insure 365 Limited is a general insurance broking business regulated by the FCA (Financial Conduct Authority) selling all forms of general and commercial insurance products. Call Insure 365 on 0800 028 2007 for a free no obligation quotation.