Compare the Market is reporting that young drivers could save £848 By switching to a telematics based insurance policy. The analysis shows that 67% of quotes for drivers aged between 17 and 20 years old were lower for a telematics based product. That number drops to 42% of drivers aged between 21 and 24.
Telematics insurance, especially UK variants, see insurers install a hardware module into vehicles to track driving behaviour, time of day, and other factors commonly associated to behaviour leading to car crashes. Smartphone add-ons or variants can also monitor phone usage while driving to help eliminate distracted driving.
Overall, auto insurance premiums in the UK have dropped but telematics offering declined a slower rate then regular policies. Comparing the previous number to 2019, 74% of quotes were cheaper for 17 to 20 year olds while 48% of 21 to 24 year olds.
Compare the Market also outlined that telematics savings continue for all brackets but decline with ag