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Telematics Providers
Telematics Car
Insurance Providers in the UK
What is telematics
and who is it for?
Telematics
in car insurance refers to the use of a small 'smart box' that is
inserted into the engine compartment and which measures driving style
to calculate the premium. It is the ideal way for safe young drivers to
reduce the cost of their car insurance, especially teenagers, but also
anyone under 25 years of age, particularly young women who will soon
lose their gender advantage in the calculation of their premium, owing
to a recent ECJ ruling.
Which insurers
provide telematic car insurance?
The
first major UK car insurance provider to offer a telematics policy
for young drivers was the Co-op and the interest in and uptake of the Co-op
telematics policy has been phenomenal. It provides an online
'dashboard' for young drivers to see their progress in terms of how
much they have been able to save while traditonal policy features, such
as acruing a no claims discount, are also maintained with the Co-op
telematics policy.
Recent statistics from the Co-op showed that 51% of under 25s could
save up to £593 using their telematics smartbox based on online
independent research by Consumer Intelligence during December 2011.
You can find out more about the Co-op's telematics product via the last
link to our dedicated page that details the nature of the policy
or you can check it out directly on the Co-op's own website: Co-op
smartbox telematics.
Other
major insurers are currently investigating telematics products but it
is the Co-op's smartbox that has taken the lead in this rapidly
expanding market.
Certainly,
with the loss of the use of their gender to reduce the premium, young
women would be unwise not to use a telematics car insurance policy in
the future.
Similarly,
safe teenage drivers can expect to save hundreds of pounds.
Other
telematics car insurance providers in the UK include Insurethebox and Coverbox
(checked by Gocompare).
Related articles:
Co-op
Car Insurance 'Smartbox' telematics saves young drivers money
Telematics
car insurance helping young drivers
Car Insurance Buyers
Guide: What are telematics?
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