`Smartbox` could earn young drivers discount on insurance

By Joel Stanier

The Co-operative Insurance has launched a new `Smartbox` that could help drivers between the ages of 17 and 25 save money on their car insurance.

The Smartbox, which will come with the insurer`s Young Driver Insurance, is designed to reward safer motorists by assessing how they drive. The unit monitors things like acceleration, braking, cornering, speed and journey times using GPS. This information is automatically sent back to the insurance company, which will price the driver`s insurance policy accordingly.

Drivers will be able to access their own `online dashboard` on a personalised webpage to check their score and identify ways of improving their driving.

An insurance expert at Think Money said: "This is an interesting idea that could help many young motorists to bring down their insurance costs. Young people can pay considerably more for insurance than older age groups because they are statistically more likely to make a claim, but the Smartbox could help safer drivers to get around that.

"However, it`s still important for motorists to compare the various deals on offer when looking for car insurance. It may be that there are cheaper deals available from other insurers, so it`s always worth taking the time to search around."

Tags: insurance, car insurance, young drivers

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