Ok so I passed my test the other day! I have my own car and I'm now looking to get some insurance sorted... and therein lies the problem.. they're all astronomical insurance rates! I suppose I can understand the reasons why but it still doesn't seem completely fair.
Anyway, I have come across an insurance company known as CoverBox on GoCompare and from what I understand about them they're sort of like a Pay As You Go insurance board rather company.
So far they have been the cheapest quote at just over £1500 comprehensive cover (all of my other quotes have been £2500+).
(I have a 1.6 2004 (New Style) Vauxhall Astra by the way)
My issue is that I was reading about some black box type thing that they want to install in to your car if you're registered with them to monitor your speed and the time's you're using the car. The reason why I'm mainly concerned is that I'm confused as to whether I accidentally exceed the speed limit e.g. by going 31mph in a 30mph zone, will this increase my premiums?
It seems very Big Brotherish in that they also install a tracker to ensure your car is parked at your residence etc. although they try to word it more so as a safety feature in case your car is stolen.
I've just taken out an insurance policy with the Coop who fit a smartbox to your car. I've only driven the car twice since the box was fitted, but from what I've seen so far, it's not that sensitive on speed. It's more about whether you are driving above or below the speed limit on average. For example, the two times I've been for a drive, I've been going up to 10mph above the speed limit for brief periods, but this has been balanced out by being held up in slow moving traffic. Obviously you want to try and stick to the speed limit as much as possible, but it's not as critical as you may think it is. Momentarily going 1mph over the speed limit will make absolutely no difference. Infact, if you're 1mph over on your speedometer, chances are you're actually a few mph under the speed limit when calculated using GPS, since all speedometers tend to over-read.
I'd recommend the Coop over the company you're looking at though, because the Coop is not pay as you drive. You simply specify the approximate mileage you intend to cover over the year.
Personally, I wouldn't want one of them black box things installed. If you drive at night your premium goes up etc and they can put it up at any point. I'd rather have one fixed price which I pay knowing it'll stay the same, but maybe that's just me.