Black box will cut car insurance costs

Mon, 04 Dec 2006

More pay-as-you drive car insurance policies will emerge in the near future - potentially cutting costs for motorists, one expert has claimed.

Richard Mason, director of insurance at Moneysupermarket.com, has stated that the black-box technology needed to evaluate individual car insurance costs will become more commonplace.

The expert commented in the wake of the Eddington Transport Study, a government initiative which plans to incorporate the new tracking methods as a means of reducing congestion on the roads.

"This technology is likely to reduce insurance costs for safe drivers," remarked Mr Mason

"With the potential savings that can be made on the cost of insurance, I think it is clear that pay-as-you-drive schemes and black-box technology will be a big part of our motoring future."

However, Mr Mason stated that advancements could also catch out drivers who do not follow the rules of the road, who will potentially pay a "fortune" for their car insurance premiums.

Earlier this year, Norwich Union launched the UK's first pay-as-you-drive car insurance scheme.


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