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

  • North American OEMs embrace advanced safety features
    August 14, 2014
    New research from Frost & Sullivan's Analysis of the North American Advanced Features Market and Optional/Standard Strategy of OEMs finds consumers demand seamless connectivity and high-end infotainment features in a car. The research also highlights the lifesaving technologies and features like night vision assist with pedestrian detection or collision warning and mitigation using augmented reality, which are accorded a higher importance compared to other features like power lift gate or ambient lighting i
    Read More
  • Flexible, demand-based parking charges ease parking problems
    April 10, 2012
    Innovative parking initiatives on the US Pacific Coast. David Crawford reviews. Californian cities are leading the way in trialling new solutions to their endemic parking problems. According to Donald Shoup, a professor of urban planning at the University of California in Los Angeles, drivers looking for available spots can cause up to 74% of traffic congestion in downtown areas. One solution is variable, demand-responsive pricing of parking.
    Read More
  • Flexible, demand-based parking charges ease parking problems
    April 10, 2012
    Innovative parking initiatives on the US Pacific Coast. David Crawford reviews. Californian cities are leading the way in trialling new solutions to their endemic parking problems. According to Donald Shoup, a professor of urban planning at the University of California in Los Angeles, drivers looking for available spots can cause up to 74% of traffic congestion in downtown areas. One solution is variable, demand-responsive pricing of parking.
    Read More
  • Monitoring and transparency preserve enforcement's reputation
    July 30, 2012
    What can be done to preserve automated enforcement's reputation in the face of media and public criticism? Here, system manufacturers and suppliers talk about what they think are the most appropriate business models. Recent events in Italy only served to once again to push automated enforcement into the media spotlight. At the heart of the matter were the numerous alleged instances of local authorities and their contract suppliers of enforcement services colluding to illegally shorten amber signal phase tim
    Read More

Highlighted Content