Here at Impounded Car Insurance UK we try to keep our visitors up to date on the latest news from the car insurance industry.
We source special seized car insurance policies for people who have had their car seized by the police. A seized car insurance policy is required to release a vehicle from a police compound as standard car insurance does not cover impounded cars.
“Black box” insurance policies are rapidly gaining popularity in the UK as more young drivers turn to them. Young people are starting to choose this type of car insurance as it is often much cheaper for new drivers than a standard car insurance policy.
With this type of insurance policy safe driving means lower future premiums.The telematics device, also known as the “black box” is hard-wired into your car and can monitor things like your speed, braking trends, how hard and fast you take corners, what time of day you drive and how often you are driving. Other things such as how often you take a break during long journeys are monitored. If you have proven that you are a safe driver after your first year using the telematics car insurance, your insurance renewal should reflect this and be cheaper as a result.
Many people, especially young or new motorists, are understandably being drawn towards this kind of policy – where safe driving is rewarded with low car insurance costs.
The latest figures show that there are approximately 323,000 drivers that are using black box car insurance policies. This is an increase of around 9% in an 18 month period. Currently it is estimated that 22% of young male motorists have opted to have a telematics device installed in their car, as it is quite often these drivers that pay the most. Young women are also turning to these policies, as 14% of female drivers aged between 18 and 24 are now using black box insurance.
This type of cheaper policy could in time lead to a drop in the number of young people that opt to drive without car insurance. Young male drivers are some of the most frequent offenders when it comes to driving without a valid insurance policy which could be partly due to how expensive their premiums are.
