Uninsurable generation
Through the “2 Young 2 Die website”, young drivers can qualify for reduced insurance premiums by answering a series of questions on the dangers of speeding, drink driving, driving whilst tired, not wearing a seatbelt and vehicle insurance. Once they have passed the online test, users can apply for motor insurance with The Co-operative Insurance, which utilises ‘black box’ technology to provide ‘pay as you go’ insurance.
The ‘black box’ system, provided by Coverbox, is installed in the young driver’s car (at no cost to the driver as The Co-operative Insurance will pay for the installation) and uses a GPS system to calculate where, when and how far the vehicle is used sub-divided into three times periods: off-peak, peak and super-peak. The premiums are then calculated on the individual’s actual risk, therefore, each young driver can manage the use of their vehicle and at the same time manage their premium responsibly, which can equate to comprehensive premium for as little as 1p a mile.
David Neave, Director of General Insurance at The Co-operative commented: “We are taking a big step towards tackling the problem of the uninsurable generation on our roads by providing real incentives to reduce the cost of motor insurance.”
Posted on Wednesday, March 4th, 2009 in 2 Young 2 Die, 2 Young 2 Die Progress, Campaigns
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2 Comments. What do you think?
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More posts on this campaign
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Driving under the influence
Kedren | July 6, 2009
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Top Gear comments on speeding claims
Kedren | May 8, 2009
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Our campaign reaches Westminster
Kedren | April 30, 2009
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Cutting young driver deaths
Wayne | March 9, 2009
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Uninsurable generation
Wayne | March 4, 2009
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Your comments
where can i find more info on Coverbox?
by sg at 9:26 am on May 6th, 2009
Hi SG, Kedren at CFS here. You can find more information about Coverbox on The Co-operative Insurance site, click here.
Regards
by kedren at 2:04 pm on May 8th, 2009
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