New research published today by the British Insurance Brokers’ Association (BIBA) shows that the number of live telematics policies has increased by 40% in the last year. The survey (contributed to by 30 of the leading telematics policy providers) shows that there are now nearly 455,000 telematics policies live in the UK, up 132,000 from December 2014.
So why are so many of you switching? Well we conducted some research of our own and found that in January 2016, telematics policies were the cheapest policies available in over 25% (27.07%) of car insurance quotes. In fact, where telematics policies were the cheapest policy available, the average saving was a whopping £621.16.
Traditionally, telematics policies have been particularly well suited to those under 21, and it was no different in our most recent research. In January 2016, a telematics policy was the cheapest policy available in over 60% of enquiries from under 21s. In fact, the average saving for those young drivers when a telematics policy was the cheapest available was an incredible £867.
With some great savings available, it comes as no surprise that more of us than ever are turning to telematics. In fact, we recently looked at why telematics policies are good. The main benefit of a telematics policy is that you get an insurance price that is tailored especially for you. This means that if you can prove that you’re a safe driver, your insurer is more likely to lower your premium.
You can read more about telematics policies now and find out the wide range of benefits of the black box. To make it even easier, some providers now also provide smartphone apps to help track your driving. So if you’ve been swayed you can compare telematics car insurance now and see how much you could save.