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If you're a young driver and you've started looking for car insurance you may be wondering what telematics insurance is all about, and if it's right for you!
Telematics can not only help you snip significant savings off your car insurance premium, it also decreases your chances of being involved in a motoring accident and can even make your car traceable if it's lost or stolen!
Also known as black box insurance, telematics utilises a discreet black box that's fitted behind the dashboard of your car. This black box then lets us know how you're driving by transmitting data to us via a GPS signal. This information gives us a more accurate picture of how you drive, allowing us to tailor your car insurance premiums to your driving.
Simply put, telematics insurance puts you in the driving seat. Drive safely and you'll save money. We can't say fairer than that!
It's exciting to pass your driving test and get behind the wheel of your own dream machine, but car insurance can be a bit of a buzz kill as it is expensive when you start driving because young drivers are statistically proven to be a high risk group.
Generally speaking insurers follow a simple equation: higher risk = higher premium.
Telematics enables insurers to assess your risk based on your driving habits rather than the driving habits of young drivers in general, which is why you'll normally find that a black box policy is cheaper than a standard policy for young drivers.
If we see that you've been driving safely over the course of the first year, your premium at renewal will reflect this. It's only fair that safe drivers get rewarded with a better discount!
Don't worry, we won't be scrutinising every second of your driving. In fact, our system only flags when someone is driving at risk, which we call a ‘red journey'. We measure the ABCS of driving - Acceleration, Braking, Cornering and average Speed. If you've been driving at risk we'll contact you within 24 hours to discuss what went wrong and give you a few pointers on how to avoid any more red journeys in the future. In the unlikely event that a driver continues to have red journeys, there are specific steps we follow that are laid out in our Policy Documentation. You can take a look at these steps below:
There's a very good chance you'll spend more time analysing your driving than we will. When your policy starts we'll send you a login that allows you to take a look at the data your black box has collected via a simple online interface. You'll be able to see where you've driven and review how you've been driving according to a red, amber and green flagging system, giving you complete transparency.
At the end of the day, the great advantage of telematics is that it enables us to judge you fairly according to your own driving skills. For many young drivers this turns out to be a great incentive to improve their driving skills as safer drivers get a bigger discount at renewal!
It's highly unlikely that having a black box installed in your car will lead to an increase in your premiums. A premium increase would only apply to young drivers in their own car and, in fact, 9 out of 10 Marmalade policyholders don't have that problem – it only affects those few drivers who repeatedly drive dangerously, so the additional premium covers the increased risk of them being involved in an accident.
A happy by-product of this is that drivers with a black box installed tend to become better, safer drivers. Studies show that 1 in 5 young drivers have an accident within the first 6 months of passing their test, yet with Marmalade that figure significantly improves to only 1 in 16*, making our young drivers three times safer.
And if all that isn't enough, our black boxes also double up as a handy antitheft device. If your car's stolen, we should be able to locate it for you!