Why do young women have fewer accidents?
It’s not actually true that young women crash less. They just have fewer serious crashes – the kind that write off cars. Still, insurers would still like to be able to offer you cheaper insurance, because you’re less likely to make a major claim. However, in 2012, the European Court of Justice’s Gender Directive outlawed the common practice of offering lower cost car insurance to women.
Women are safer drivers because they tend to drive more carefully. For example, they statistically drive with more caution, taking corners more slowly and more time to brake and accelerate. Insurers put their heads together to figure out how they could reward safe, female drivers – and came up with the black box.
Why might black box technology mean cheaper insurance for young female drivers?
If you can prove to your insurer that you drive safely and/or minimally, they will no longer see you as belonging to the highest risk category of drivers. They’ll also be interested in keeping you as a customer – so they’ll reward you with lower premiums.
These premiums are reviewed regularly, and reduced if your driving style is considered to be safe. Some insurance companies make these assessments as early as three months into your policy.