Carrot car insurance rewards young drivers

A new telematics insurance provider, Carrot Car Insurance, is offering cash incentives for young drivers to stay safe on the roads.

The firm said they want to encourage a behavioural change, not only in the way young drivers are viewed by the industry and others, but to change the way they engage with and think about their insurance provider.

Installation of their Carrot i-box telematics device allows the company to monitor driving behaviour and provide driving style scores. Good scores are rewarded with cash, while if a policyholder’s score doesn’t improve, or even gets worse, there are no increases to the cost of insurance during the same policy year.

Across the course of a year, the policyholder has the opportunity to earn up to 15% of their annual premium back.

Carrot Car Insurance was set up by product director Ed Rochefort and Trak Global Solutions managing director Nick Corrie.