This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Formula One Technology Helping Bring Down The Cost Of Car Insurance For Riskier Drivers

CHESTER, England, May 7, 2013 /PRNewswire/ --

  • Telematics policyholders could save £201 on their car insurance premiums compared to standard policies
  • 17-19 year old females are offered telematics policies the most

Young drivers stand to save an extra £201 (12.5 per cent) on the cost of their car insurance premiums if they opt for a telematics policy, according to analysis by [ 1 ].

The UK's number one comparison site analysed 16.9 million car insurance quotes and found an increase in telematics policies being offered to younger drivers. The analysis found that 29 per cent of motorists in the 17-19 age bracket were likely to be offered the choice to opt for a telematics policy, followed by 18 per cent of 20-24 year olds. The analysis also revealed that by opting for a telematics policy, drivers could save just over £200 [ 2 ]compared to standard car cover.

The research also found that females aged 17-19 were the most quoted group for telematics policies, making up almost a third (30 per cent) of all telematics quotes.

Telematics policies serve to make motorists more aware of how they drive which in turn can make premiums cheaper. A small black box device is fitted to the vehicle that is able to monitor a number of factors, such as the times of day you drive, how you accelerate and break as well as monitoring what types of road you use. The driver is then able to monitor their progress online and can make any adjustments to their driving style accordingly. There may be restrictions however, such as to the times in the day that you are able to drive.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs