New figures show that telematics insurance will become the norm
Telematics boxes also known as black boxes are a small device installed into a customer’s car which records data of how the person drives the car, how many miles they do and also contains a tracking device to locate the car if it is stolen.
In recent years we have seen a large surge of people moving into this type of insurance to decrease their insurance premiums.
The device was originally aimed at younger drivers to try and lower insurance premiums and also decrease risk for insurers. Furthermore, a large number of people are choosing to have this cover in place even if insurance without a black box is cheaper.
We should also see more options entering the market such a ‘pay-as-you-drive’ motor insurance which should be brought in within the next decade.