A new study has revealed that the new 'smart box' telematics insurance is not only helping drivers bring their insurance costs down, but also is reducing the number of car accidents on UK roads.
Since the introduction of the telematics car insurance, young drivers are getting into fewer car accidents than before. This is according to the latest study published by The Co-operative Insurance.
After surveying 1,000 young drivers, the research concluded that those with telematics or 'black box' insurance are statistically 20% less likely to suffer a road accident than those without this type of insurance. Further figures revealed that the average cost of a claim is actually 30% lower for drivers with telematics insurance.
These findings are part of The Co-operative's 'Young Driver' scheme, which has analysed the driving habits among motorists aged 17 to 25.
"Genuinely driving better"
"We can see that motorists with this type of insurance are genuinely driving better than those without it," stated Amy Kilmartin, Manager of the Young Driver Insurance scheme at The Co-operative.
"Young drivers tend to pay a lot for insurance because they have more road accidents than any other age group, but with these schemes if they prove they are good drivers, they could see major savings," she continued.
Kilmartin pointed out that if more young people used this type of insurance, we would have a generation of much safer drivers which could play a big part in improving the general safety on UK roads.
The secret of this success is due to its unique scoring system. Once the young drivers have the 'black box' installed in their cars, the device analyses speed, cornering, braking, acceleration and the time of day the car is driven.
Based on this data, it then scores people from one (low) to five (high) according to their driving behaviour, with drivers who score consistently well receiving money back on their insurance.
