New tech may bring about discount car insurance for young drivers

Technology newly developed by car manufacturer Ford may be the ‘key’ to bring about discount car insurance for young drivers, as parents will soon have the ability to set safety parameters for the family car before letting their teenage sons and daughters behind the wheel, experts say.

Many younger motorists are priced right out of owning their own cars due to the costs associated with the car insurance rates charged to drivers under the age of 24.  However, the parents of young Brits are oftentimes less than enthusiastic about handing over the keys to the family motor, as they have concerns that their little angels may become daredevils once behind the wheel, but Ford’s new MyKey technology will allow parents to limit a car’s performance characteristics – and experts say that this may convince car insurance companies to cut younger drivers a break on their premium prices.

The system, which is currently only available on the US-only Ford Fusion, will be offered on the Fiesta in the UK in the future, will permit parents to make their car safer for younger and more inexperienced motorists.  Those who purchase a vehicle fitted with the MyKey system will be given an ‘admin’ key in addition to MyKeys that can be given to other drivers.

Parents can use their admin key to change many things, such as setting the maximum volume of the stereo for those drivers using a MyKey,or setting the car to play warning bongs upon reaching or exceeding a certain speed.  Additionally, any car started with a MyKey is hard-wired to never allow the car to exceed 80 miles per hour or to deactivate the traction control system.

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