It would appear that it might not be too long before there are half a million motorists with telematics car insurance policies in place here in the UK. One benefit of such a policy is that “black box” insurance, as it is also known as, is helping identify some fraudulent car insurance claims.
When people make fraudulent claims this has the potential effect of resulting in insurance companies having to pay out more than they really need to. The knock on effect of this is that it leads to car insurance premiums increasing for all motorists so anything that can be done to prevent this has got to be welcomed. A black box can identify the sort of impact that takes place when one or more vehicles are involved in road traffic accidents and, apparently, this can help insurers assess the validity of a claim.
Telematics car insurance has certainly grown in popularity in the last year or so in particular amongst the younger motorist who is often faced with having to pay very high premiums. Such cover has seen many motorists being able to reduce the amount that they are paying for their motor insurance by a significant sum. However, it is not just the young, inexperienced driver that has been able to make savings on their cover as even a number of older motorists have been able to reduce the cost of their car insurance when arranging telematics car insurance.
There are an increasing number of insurance companies prepared to offer black box insurance so it may pay you to shop around for the most competitively priced cover that you can find as long as you also make sure that you also get the appropriate level of cover. One way of doing this may be to use a price comparison website that provides access to a large number of car insurers.