AXA drops cheap cover incentives for young drivers

A PIONEERING insurance scheme offering young drivers cheaper cover in return for having their speed monitored has been discontinued.

AXA Insurance has dropped its Traksure scheme and are now only offering it as a condition of cover for very young drivers they would otherwise refuse to insure.

The company said the industry-wide reduction in insurance premiums for young drivers had cancelled out the financial incentive for signing up to the scheme and there was no longer a demand for it.