DRIVERS could save hundreds of pounds on their car insurance just by installing a black box, new research has found.
And even motorists with a poor driving record could see their premiums slashed.
Getty – Contributor Drivers could slash their car insurance premiums by installing a black box
Black boxes used to only be for young drivers, who can see savings of hundreds of pounds a year.
But insurers now offer discounts to everyone, with careful drivers able to save up to 50 per cent on their premiums by using a black box.
Conducted by Coverbox, a study found that motorists over 50 could save more than £350 on renewal by using the device.
And for motorists with previous convictions such as drink driving, the tracking device could reduce their inflated premiums by almost 50 per cent.
What is a black box?
Telematics insurance policies – also known as black boxes – are a great way for young drivers to cut premiums.
They use GPS tracking data to know where, when and how fast you’re driving.
For 17 to 20 year olds, fitting a black box can save an average of £202 a year on car insurance premiums.
The policies are often tied up with an app that provides a feedback score at the end of a journey.
Drive safely and score well and you can be rewarded by even cheaper premiums in the future or other rewards.
Black boxes are attached to your car and track your daily driving to give an indication of how risky you are.
After each journey you’re given a score based on how well you’ve driven – including fast acceleration, harsh braking or speeding.
The best drivers can be rewarded with discounts and “prizes” each month or at renewal.
Research also found that drivers in notorious insurance claim “hotspots” could actually save more using a black box due to their location.
According to Coverbox, driver scores are tested alongside your location to determine the cost of a policy.
If motorists drive safely in areas that are known for a high number of insurance claims, they are likely to benefit even more from lower premiums.