It’s no secret that insurance premiums can be higher for new drivers. Young drivers aged 25 and under pay an average of £810 a year for their insurance, with 18 to 20-year-olds paying £972 a year, in contrast to the average UK private car driver premium of £367. According to new research conducted by the RAC, 62% of young drivers see insurance as the greatest barrier to owning and running a car, as opposed to 22% who felt it was buying a car and 12% who cited day-to-day running costs.
Difficult as it is for young drivers to pay these premiums, insurers have good reason to be cautious. Drivers between the ages of 17 and 24 are much more likely to be involved in an accident and make a claim, with the single biggest cause of accidental death of young people aged 17 and 24 being getting into a car and dying in a crash.
How to get cheap car insurance for a new driver?
Unfortunately, the recent rise in IPT tax from 6% to 9.5% is likely to increase the cost of car insurance premiums to the consumer, making it even more difficult for new and young drivers to get covered. The RAC believes Black Box Car Insurance can tackle this issue through the use of telematics technology, which rewards safe drivers with limited experience, rather than simply penalising them just because they are newly qualified.
According to research conducted by the ABI, 67% of people support the compulsory use of telematics in the cars of newly-qualified young motorists for a year after passing their test. Telematics works through monitoring the way you drive, tracking things like braking and acceleration, and calculates how safe a driver you are by giving you a Driver Score. The better you drive the higher your Score and the lower your Insurance renewal premiums could be.
How can Black Box Insurance lower your premium?
Getting RAC Black Box Car Insurance couldn’t be simpler. After buying a policy, either online or over the phone, we’ll contact you to arrange your box fitting at a time and location convenient to you. The procedure generally takes less than an hour.
Once installed, you can keep track of your driving performance by going to the RAC Black Box Car Insurance portal to check your Driver Score. This score is calculated after your car has been driven 200 miles and is then updated every seven days after the installation date. The portal also provides helpful hints and tips to help improve your score through safer road practices, helping you to drive down the price of your premium.
How do new drivers feel about Telematics?
According to research, 64% of young drivers felt having a telematics box fitted in their car would improve their driving. As the RAC imposes no curfews or mileage limits, unlike some other policies, a further 44% said they would consider taking out a ‘black box insurance’ policy. As RAC telematics also includes accident technology that is able to detect 92% of accidents, it’s hardly surprising then that 67% of young drivers, whose parents are involved in the car insurance decision, said they felt their parents would prefer them to have a telematics policy.
Find further information here on RAC Black Car Box Insurance or speak to one of our RAC advisers on 0330 159 1042 to get a quote.
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