Car insurance depending on satellite technologies have resulted in a 20% fall in crashes involving young drivers, in accordance with one of many UK’s biggest general insurers.
Telematics, or “black box” insurance, involves in-car tracking equipment to monitor driving behaviour for instance braking and acceleration, cornering, speed and what time of day your vehicle is driven. The info will then be helpful to calculate insurance premiums: the higher quality the driving, the bottom the premium.
Co-operative Insurance has analysed the driving habits of 10,000 telematics insurance customers aged 17 to 25 along the UK, finding that these folks were 20% more unlikely that to possess a crash than these with standard insurance. Telematics customers close to serious accidents, that has a typical claim 30% not as much as ordinary customers.
Young drivers have faced swingeing increases in insurance costs during the past eighteen months. Premiums for males aged 40 to 49 have gone up by 6% since April 2010, except for those aged 17 to 22 they have got increased by 40%, according to the AA. Those aged 23 to 29 have witnessed increases of 35%.
“It’s predominantly due to sized claims, compared with frequency,” says Ian Crowder, AA spokesman. “Accidents involving younger drivers, particularly men, will cause death or serious injury.”
Last year the AA incurred two claims more than