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

  • Europe's electronic toll service closer to operational reality
    November 7, 2012
    After much debate and delay, a unifying European Electronic Toll Service is now finally on the horizon, says ASFiNAG’s Klaus Schierhackl. Here, he talks with Jason Barnes about what that might mean. Aworkable European Electronic Toll Service (EETS) which will allow truck drivers to travel across the continent and pay tolls using a single account and OnBoard Unit (OBU) was originally timetabled to be in place and operating by October of this year. A lack of urgency from some of the stakeholders involved in t
    Read More
  • Global toll revenues $8.5bn while technology ‘battles’ continue
    April 9, 2014
    ABI Research’s Dominique Bonte talks to Jason Barnes about trends in tolling and how a wider appreciation of technology options is sorely needed. Global Electronic Toll Collection (ETC) solution revenues will grow to $8.5bn by 2018, with ETC becoming a main source of funding for both Intelligent Transport Systems (ITS) and Vehicle-to-X (V2X) cooperative infrastructures, according to a new report from ABI Research (Chart 1). But, says the report’s author, ABI Research vice president and practice director Dom
    Read More
  • Transport Systems Catapult boss: ‘We can’t build our way out of congestion’
    March 4, 2019
    The UK Transport Systems Catapult’s CEO Paul Campion talks to Colin Sowman about helping companies develop tomorrow’s solutions – and explains why you can never build your way to empty roads The future of mobility is going to be driven by services.” That’s the opening position of Paul Campion, CEO of the Transport Systems Catapult (TSC) – the UK government organisation set up to help boost transport-related employment and the economy. Campion was previously with IBM and describes himself as a ‘techno o
    Read More
  • ‘Risky tailgating and speeding rife on UK motorways’
    May 22, 2014
    Six in ten UK drivers own up to risky tailgating (57 per cent) and a similar proportion break the limit by 10mph or more (60 per cent) on motorways and 70mph dual carriageways, with men by far the worst offenders, a survey by Brake and insurance company Direct Line reveals. Almost all drivers say they worry about other drivers tailgating on motorways: 95 per cent are at least occasionally concerned about vehicles too close behind them; more than four in ten (44 per cent) are concerned every, or most, tim
    Read More

Highlighted Content