The Coalition Government has been urged by insurers to adopt telematics-based motor car insurance initiatives in greater numbers in order to benefit younger motorists, with recently released data indicating that young drivers with telematics devices fitted to their cars have a lowered likelihood for being involved in road traffic accidents than those who have traditional insurance. The telematics devices work through keeping track of whether a motorist adheres to speed limits, corners and brakes in an effective manner, and the frequency with which they use their vehicle after nightfall to determine what car insurance rates they should be charged.
Telematics-based insurance technologies enable motorists to find a personalised and fair price for their insurance cover, according to David Neave, a representative of one car insurance firm. The technology puts the control in the hands of the motorist, as their premium prices are determined by how safely and responsibly they comport themselves behind the wheel.
In related news, recently released research findings from Road Safety Analysis indicate that younger drivers residing within the UK’s urban regions are 37 per cent more likely to have some involvement in a road traffic accident than older motorists. This means that, under traditional risk assessment methods, young motorists living within the cities will have even higher insurance rates as a result of this higher likelihood.