Zero-rate Insurance Premium Tax (IPT) for young driver telematics policies – that’s what Graeme Trudgill (pictured), the executive director of the British Insurance Brokers’ Association (BIBA), wants the government to introduce so that motorists aged 17 to 25 consider telematics an option when buying insurance.
Trudgill made the plea at yesterday’s oral evidence session in Portcullis House, as part of the young and novice drivers inquiry of the Transport Committee. He was joined by Association of British Insurers general insurance manager Laura Hughes and insurethebox actuarial group head Nika Lee.
“Evidence from the providers is that there are far fewer incidents when a young driver has a telematics policy,” said the BIBA leader, who believes zero-rating IPT for telematics would encourage more young drivers to purchase such insurance products.
Trudgill added that not only will it allow these motorists to benefit from cheaper premiums but also encourage young drivers to drive responsibly – thus providing road safety benefits.
Aside from zero-rating IPT for telematics, the executive director also recommended the inclusion of road safety in the national curriculum, as well as incorporating courses such as the AA Drive Tech into the driving test procedure and theory test.
