Norwich Union has announced that its revolutionary Pay As You Drive insurance is now available to the public and can save 18-21 year olds as much as 30 per cent.
The new system tracks where and when motorists use their cars, charging drivers more per mile for journeys in the "peak" hours of 23:00 to 06:00 than at other times.
Robert Ledger, programme director for the Pay As You Drive insurance scheme, explained: “Government statistics show that this age group [18-21] is more likely to be killed or injured in road accidents between the hours of 23:00 and 06:00 - and this has been factored into tariffs for this product.
“Although the money-saving factor will probably be the main appeal for young drivers, I imagine the road safety aspect will appeal to their parents."
Another benefit of the system is that the 'black box' used to track the car - allows customers to find their car in the case of an accident, breakdown or if it has been stolen.To read more about car insurance, click here.
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