Black box car insurance can save young UK drivers hundreds of pounds a year

Young drivers could save nearly a quarter off their auto insurance policy premium simply by switching into some telematics premium, says MoneySuperMarket.

Auto insurance premiums for young drivers are slashed by up to 17.1 percent during the past year, says that the insurance company, but drivers aged between 17-24 years old are still missing out on economies.

Normally drivers in the 17-19-year-old age bracket are stung with the maximum premium prices from the UK since they pose the most danger while on the street.

Half of those drivers are, nevertheless, recognising how economies could be made by 51 percent of young drivers carrying out telematics coverages , asserts the insurer.his is followed closely by 20 percent of 20-24-year-olds and seven percent of 27-29 year-olds carrying out black box auto insurance coverages .

Based on their research, motorists aged between 17-24 years old can slash their premiums by around #363 for carrying a telematics policy.

Telematics auto insurance policies utilize information about where, when and how many drivers to ascertain the expense of their insuranceplan.

A unit is set up at the automobile which measures this information and can track driving habits, duration of journeys, time and date of journeys, kinds of roads driven and also the smoothness of driving.This information is passed to the insurer who will correct the cost accordingly.

After periods of three, six and 12 months premium prices can go down or up supplying an incentive to drivers who drive safely.

Drivers using a Vauxhall Corsa would be the most likely to Buy a telematics coverage and reap the benefits (13.88 percent of policies are telematics), followed by motorists using a Fiat Punto (12.39 percent ) plus also a Fiat 500 (12.28 percent ).Top 10 automobile models most often paired with a telematics coverage

Vauxhall Corsa - 13.88 percent

Fiat Punto - 12.39 percent

Fiat 500 - 12.28 percent

Peugeot 107 -11.45 percent

Mini 1 - 11.34 percent

Ford Ka - 11.34 percent

Citroen C1 - 11.26 percent

Volkswagen Polo - 10.81 percent

Toyota Aygo - 10.49 percent

Renault Clio - 9.80 per centKevin Pratt, customer affairs specialist at MoneySuperMarket, remarked:"Despite premiums falling for 17-19-year-olds within the last year, youthful motorists nevertheless pay a substantial amount over other age classes.

"This is mostly because a large number of personal injury claims come from injuries which involve younger motorists.

"Telematics policies offer you an option for younger drivers to decrease the expense of driving.

"Not only do they offer you a means to secure a less expensive policy, but they also have the additional advantage of creating our streets safer by encouraging responsible driving habits.

"If you are a young driver, then it is worth it to study your options and determine if taking a telematics coverage is ideal for you.

"It takes five minutes to search online and you might stand to save 300 in only a couple of clicks."