News out this morning suggests that more and more motorists are willing to have a so-called black box recording device fitted to their car in exchange for the lure of lower insurance bills – and most analysts predict that this is a trend that is only going to go on rising.
Certainly momentum is behind such schemes, with statistics presented by the British Insurance Brokers’ Association (BIBA) suggesting that, from 12,000 motorists driving with black box recorders attached to their cars in 2009, this year that figure will jump to 455,000. That 2016 figure is a 39% year-on-year rise, too, although such exponential growth could be misleading given the relatively small figures concerned.
Black boxes are, not surprisingly, most popular among young drivers, traditionally the most punatively hit by insurance premiums. The basic ethos is that if you can prove you are a good driver to the black box, which usually records everything from journey times through to speed, cornering styles, acceleration and braking, then you will earn financial rewards from your insurer in the long-run. BIBA says careful drivers can earn savings of up to 25% on their policies, or more than £1000, although there’s plenty of online evidence from people who’ve tried it to suggest actual savings rarely live up to the promises.