More than half of UK drivers expect to switch to telematics-based insurance

Fifty-seven per cent of drivers believe they will switch to a telematics or ‘black box’ insurance policy in the next five years, according to a new study from Gocompare.com, an insurance comparison website. The study into the relationship between driving habits and insurance found that a wide cross-section of motorists is open to the idea of telematics-based car insurance. In fact, 59 per cent of over 55s said they may switch to one of these policies in the next five years and 19 per cent of all drivers wer
April 23, 2012 Read time: 2 mins
Fifty-seven per cent of drivers believe they will switch to a telematics or ‘black box’ insurance policy in the next five years, according to a new study from Gocompare.com, an insurance comparison website. The study into the relationship between driving habits and insurance found that a wide cross-section of motorists is open to the idea of telematics-based car insurance. In fact, 59 per cent of over 55s said they may switch to one of these policies in the next five years and 19 per cent of all drivers were happy to consider it at their next renewal.

However, the research also identified the issues which have held back the sector until now, including low levels of awareness, the lack of big name insurers and evidence of real savings in terms of premiums and fuel costs. The survey highlighted the strong underlying support for car insurance premiums based primarily on the way you drive, not on age and gender, with careful drivers rewarded with cheaper premiums. Gocompare.com's research also outlined the steps the industry still needs to take to make "black box" car insurance policies more attractive to consumers.

Related Content

  • US economic stimulus package highlights ITS technology
    July 17, 2012
    US Secretary of Transportation Ray LaHood talks to ITS International about economic stimulus funding and the absolute need to maintain and increase the use of technology in transportation. Of the total of $787 billion of funding announced under the American Recovery and Reinvestment Act (ARRA), the economic stimulus package which was signed into law by US President Barack Obama on 17 February 2009, $48.1 billion will go to the US Department of Transportation (USDOT). Of that, $27.5 billion is for highway in
    Read More
  • Financing the US road infrastructure – road user charging?
    February 2, 2012
    In the US, the National Transportation Infrastructure Financing Commission's report to Congress will state that a national, distance-based charging is the only long-term solution to the country's infrastructure financing problems. The Commission's Chair, Rob Atkinson, talks to ITS International
    Read More
  • Financing the US road infrastructure – road user charging?
    February 2, 2012
    In the US, the National Transportation Infrastructure Financing Commission's report to Congress will state that a national, distance-based charging is the only long-term solution to the country's infrastructure financing problems. The Commission's Chair, Rob Atkinson, talks to ITS International
    Read More
  • UK van drivers drive more carefully in their personal vehicles
    September 13, 2013
    A new study by TomTom indicates that more than a third (39 per cent) of UK van drivers admit to driving more carefully when using their personal vehicle. The research, conducted among light commercial vehicle (LCV) drivers, found 67 per cent of those did so to save money on fuel and vehicle wear and tear and 29 per cent because of the absence of working time pressures.
    Read More

Highlighted Content