Young drivers who face steep costs for motor cover could save an average of £201 – or 12.5 per cent – a year by choosing telematics technology over a standard policy, according to data.
Female motorists aged 17-19 were the most quoted group for telematics policies, making up almost a third of all quotes.
WHAT IS TELEMATICS?
Telematics works by drivers having a small ‘black box’ fitted to their vehicle.
This monitors a number of factors, including times driven, accelerating and breaking, and what types of road drivers use.The driver is then able to monitor their progress online and can make any adjustments to their driving style accordingly.
Telematics policies serve to make motorists more aware of how they drive – this in turn can make premiums cheaper. There may be restrictions however, such the times in the day that motorists are able to drive and a maximum annual mileage.
Annual premiums for younger drivers often reach four-figures. This is because inexperience means the risk of them being involved in an accident is higher than average.
Having a black box fitted to the car to monitor driving behavior provides an insurer with a greater knowledge of the driver. It can also influence driving habits – motorists know that they have the box fitted and driving safely will result in premiums falling faster.
There are now so many telematics car insurance providers out there now days, with firms like Tesco, moneysupermarket and comparethemarket etc offering good deals we are spoilt for choice and can hunt down the best policy for us 🙂