Spiralling cost of insuring young drivers could lead to on-board cameras fitted as standard.
For car manufacturers, the high cost of insurance is as worrying as it is for individuals. Recently Peugeot’s head of product, Xavier Peugeot, told me that it was looking at ways of incorporating technology in its cars to help younger drivers afford insurance.
“It is a concern to us that younger drivers can no longer buy cars like the 208 GTi because the insurance is too expensive.”
Every vehicle camera company spoken to says having cameras and data recorders in cars improves driver behaviour. And safer drivers should make for lower insurance premiums.
What’s more, cameras protect drivers against erroneous crash for cash claims, something the insurance industry claims costs hundreds of millions of pounds a year.
Insurer Allianz says that in 2012, the most recent year it has figures for, there were 150,000 road traffic accidents reported to the police. In addition to that, it estimates 730,000 accidents that weren’t reported to the police. Of these 880,000 accidents it reckons 76 per cent had human error as their sole cause.
So the question is, how long before a car company starts including crash cameras as standard equipment?