Black box telematics benefits young drivers

According to new figures, young drivers with a black box fitted to their car can cut the cost of their car insurance by a fifth.

Young drivers are traditionally known to be paying the most expensive car insurance on the market, but new research has found young drivers could save around £500 a year on their policy if they have a black box fitted to their car.

Black box technology monitors a person’s driving behaviour, such as speed, position on the road and their driving style.

Therefore, young drivers avoiding driving at risky times of day and sticking to speed limits could see their car insurance premiums significantly fall by hundreds of pounds.

Research from Towers Watson consultancy found the average fully comprehensive car policy for drivers aged between 17 to 23 years old fell by 21% to £1,983 from £2,512.

However, older drivers have appeared to be keen to have the black box attached to their vehicle to keep their insurance premiums low.

Towers Watson’s insurance index found the average cost for fully comprehensive car insurance overall fell by £51 to £594 in 2014.

Additional information from the AA found that car insurance premiums have increased by 2% in the last 3 months.

Make sure you have the right cover for your vehicle and compare car insurance for the latest deals and services.

Source: This is Money

 

Naomi Havergal
Wednesday 28th January 2015

Category: Car Insurance

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