February 10, 2011

Soon to be defunct motor insurance blog Lady Motor News reports this week that “a new device know as the spy-in-the-box” could bring an end to high insurance premiums for young drivers.

To which far-sighted prediction Bankstone News would merely like to add that an old breed of farm animal known as a pig could begin test flights between Dover and Calais as early as next week.

Norwich-based über-insurer Uvavu reportedly trialled the technology “several years ago,” but “promptly dropped the scheme as the equipment was too costly.”

But now with newer, cheaper and more sophisticated devices on the market, LMN claims vaguely that “It’s been reported that six UK car insurance companies are currently looking into the possibility” of offering policies based on actual road use.

The hope is that spy-in-a-box technology could “put an end to high premiums for careful young drivers” who have seen their motor insurance premiums rise by as much as 50% in the past year.

A device the size of two fag packets records “average driver speeds, the times of day or night they tend to travel, and their braking and acceleration habits in order to create a picture of what kind of driver they are.”

Bankstone News will definitely not be getting one of those.


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