With insurance premium tax (IPT) doubling from 6% to 12% in recent years, car insurance premiums (particularly among newly-qualified drivers) have increased sharply. Telematics (the ‘black box’) presents an opportunity to reduce these costs and reduce premiums back to an affordable level.
This news piece from ITN discusses the value of telematics in making the roads safer as well as reducing premiums for young drivers who are most affected by increasing IPT.
