Thursday 22 April 2010

Looking to reduce your insurance by 40%? The Good Garage Scheme recommends i-kube device for under 25s

The i-kube is a high-tech device which records the time of day a car is on the road. It logs journey data enabling insurance companies to offer policy conditions which encourage motorists not to drive between particular hours. Drivers who agree to have the i-kube fitted will have their premiums reduced by up to 40%.

This small but innovative device is set to reduce insurance premiums for young drivers between the ages of 17 to 25. Its makers hope the device will dramatically reduce the number of fatalities involving young people on the roads between 11 pm and 5am.

The i-kube works using a small hand-sized GPS device, which is installed on the car in around 10 minutes behind the dashboard. It sends out a signal to advise the insurance company when the car is driven between the hours of 11pm and 5am. If the car is driven during this time, known as the 'red hours', the policy holder will be charged £45.

A spokesman for i-kube said: "We know that driving between 11pm and 5am is the most dangerous time for young drivers. So, by discouraging drivers from being on the roads between these hours, we reduce their risk of accidents, and therefore can significantly reduce the cost of their insurance."

The i-kube was produced after it was revealed 17-25 year-olds made up more than a quarter of deaths as a result of road traffic accidents between 1999 and 2008. And of the fatal accidents involving that age group, more than one in three happened between 11pm and 5am.

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