Motley Fool: Cheap Car Insurance From Big Brother

Fit a small device in your car and you could get 30% off your car insurance premium. It’s not as if the device is a semtex bomb or anything, so you’d expect people to jump at the chance, surely? And you’d be right.

Norwich Union’s Pay As You Drive car insurance product for young people was over-subscribed. If you haven’t heard of it yet, the insurer installs a black box no bigger than a DVD case in your car, so that it tracks you with GPS and records when, where and how often you drive. You pay a reduced monthly premium and then you pay for your usage….

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