Say yes to cheaper van, home and car insurance

The insurance industry will be making use of the latest technology in order to move forward in the future, an industry body has claimed.

According to the Association of British Insurers (ABI), black box technology which records a driver's movements has already been launched in Staffordshire.

The group commented that such technology could soon be used across the car insurance industry in order to ensure that motorists receive the right premiums to suit their driving.

Malcolm Tarling, spokesman for the ABI, remarked that this method would be of benefit to safer drivers and a hindrance to dangerous road users.

He said: "Insurers will certainly use advances in technology and the goal that they are always trying to achieve is to ensure that the price that they charge for insurance reflects the actual risk."

Meanwhile, Moneyexpert.com has stated that there has been a rise of six per cent in car insurance premium costs across the sector.