Car insurance Updated:
Tesco Bank has unveiled a new product designed to help young people save money on insurance premiums whilst promoting safe driving.
The Box Insurance involves a trained fitter installing a small device into the policyholder's car, enabling them to monitor their speed, braking, distance, type of road and even the time of day during which journeys are made.
The information can be accessed by drivers through their own personal web-portal and can also be used to determine renewal premiums.
In the even of an accident, the box will instantly contact a call centre via an automated alert system.
The insurance policy also rewards responsible drivers with bonus miles, with a further discount available to Tesco ClubCard holders.
Managing director of insurance at Tesco Bank, Karl Bedlow, said: "Sitting behind the wheel of a car in those first few years of driving is exciting but also daunting and we want to help young drivers, and their parents, make it as safe as possible.
"The launch of Tesco Bank Box Insurance will not only help increase the safety of our younger policy holders, but also provide the same value and quality which they and their families have come to expect from Tesco Bank insurance," he said.
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