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How To Save Money On Young Drivers’ Car Insurance

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Although car insurance premiums are sky-high for drivers under-25 years of age, there is a new scheme on offer from Co-operative Insurance. This scheme gives young motorists the opportunity to save on their initial premium, enjoy a no-claims discount, plus further discounts for driving safely.
This is calculated by assessing the driver’s performance every 90 days with the installation of a ‘Smartbox’ monitoring device, which is installed as standard with the policy.
The Smartbox is about the size of an iPhone and tucked away so it can’t distract the driver, recording data about how and when the car is being driven. Using the data to calculate a ‘safer driving score’, this is updated daily and shows if they qualify for discounts of up to 11% over the year.
Premiums can increase depending on the individual’s driving style but Smartbox takes into account driving patterns over a period of time, so drivers are not penalised for the occasional one-off error.
If the score drops, a driver is sent a warning message that gives ample time to rectify their driving behaviour pattern and get back on track for discount.
Acording to a Daily Telegraph report, apparently 82% of Co-Operative Insurance’s customers have already achieved a safer driving discount, which helps to prevent young drivers being penalised because of their age. And parents can also take out the policy themselves with a son or daughter as a named driver.
More than half of under-25s could save up to £500 on the initial premium.


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