Car insurance cuts wouldn't encourage black-box, study shows

Tue, 12 Sep 2006

Many UK motorists would not install a black-box, even if it meant significant cuts to car insurance costs, according to new research.

A 30 per cent reduction in car insurance costs would encourage less than ten per cent of UK drivers to have the equipment installed, a Moneysupermarket.com study reveals.

Furthermore, 27 per cent of British motorists state that they wouldn't have the black-box fitted under any circumstances.

Proposals from insurers, such as Norwich Union, are to use the new equipment to monitor driving habits, providing car insurance on a pay-per-drive basis.

Richard Mason, director of insurance at Moneysupermarket.com, comments: "With the potential savings that can be made to the cost of insurance, I think there is no doubt that pay-as-you-drive insurance schemes and black-box technology will be a big part of the motoring future.

"However, it seems that drivers are still reticent over this new technology, illustrating a need for insurance companies to educate British drivers."

Norwich Union currently offers its customers car insurance policies with a ten per cent discount available online.


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