The ins and outs of iKube black box car insurance

Telematics insurance can help ensure young and learner drivers get a fairer premium based on how they drive and not their experience. Towergate’s black box insurance product iKube uses GPS technology to do just that. This article helps explain how.

It's no secret that younger drivers are more likely to have a road accident; it's one of the reasons that drivers of this age and experience suffer much higher premiums. Towergate believe however, it is possible to look at other factors than these blanketed assumptions by paying attention to how they individually drive. This means young drivers pay a premium that matches the risk they present without being tarred by the same brush as others less responsible.

Insurer research shows that young drivers are more at risk of being involved in a serious accident after 11pm. So firstly, isn't it possible to offer discounts to drivers who don't use their car during these times, particularly in the early period of a driver's experience? iKube, uses GPS technology to identify if a car is in motion between 11pm and 5am, statistically the high-risk time.

With the same GPS technology, it is possible to detect acceleration, speed, braking, types of roads driven, amount of use etc. Therefore, it becomes quickly apparent the level of risk the driver poses to themselves and others around. At the time of renewal, substantial behavioural discounts can be added and safe drivers can even see the night time curfews completely lifted. iKube's telematics technology can help young drivers secure a premium which is far less expensive than others on the market and offers them a chance at their own insurance policy, in their own car, all at a low cost. In addition, iKube now also reviews driving for the three months after the driver has passed their test and can remove the curfew for the best drivers before renewal.

Keep reading for some of the common questions asked about iKube…

  • Is it expensive for the first year?

  • For learner drivers iKube can be very competitive in terms of cost - in many cases iKube can discount significantly off a standard car insurance policy. However, as with any motor policy it's dependent on other factors - such as where the policyholder lives and levels of cover required.

  • Does a renewal for a 'safe driver' make their renewal premium competitive?

  • Yes - for those policyholders who drive safer we can offer competitive discounts at renewal. In fact, 75% of those who take out car insurance with iKube are rewarded with additional behavioural related savings at renewal. In addition to this 44% of all young drivers who take out iKube have their curfew lifted and a further 15% are also offered the opportunity to remove the late night driving curfew for a sensible additional premium at renewal based on how well they've driven.

  • What are the restrictions?

  • The only real restriction on the policy is late night driving. iKube encourages young drivers not to drive between 11pm and 5am. If they have to drive during the red hours they could incur a charge of up to £100 that is effective for the whole period (i.e. they will only be charged once per day). The future premiums ultimately may be affected by the customer's driving behaviours so it is in everyone's interest that the car is driven well. A breakdown of charges is as follows.

    23.00-23.29 - £50

    23.30-23.59 - £75

    00.00-04.59 - £100

  • What are the age limits?

  • The policy has been designed to benefit young and learner drivers aged 17 - 25 however older provisional drivers can also consider this policy.

  • Can you insure any car on the scheme?

  • Whilst we try to cover a wide-range of cars on the scheme iKube is most competitive for cars with a small engine size (usually between 1.0 - 1.4 litres). Typically, cars like the Vauxhall Corsa, Ford Ka or the Nissan Micra tend to enjoy lower premiums than their bigger cousins.

  • Is the GPS equipment free?

  • The iKube black box actually costs £174 but the cost of it (which includes fitting and annual monitoring charge) is rolled up into the overall quotation.

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