Drivers who spend 20% of the time over the speed limit almost double their risk of an accident, according to new analysis from Insure The Box.
Those who assume a little speeding can do no harm may be shocked to learn that going over the speed limit 10% of the time increases their risk of an accident by more than 42%.
Smoothness of driving is also a key factor in accident risks. Drivers who have erratic driving behaviour, such as swerving, speeding, and habitually slamming on the brakes, are far more likely to end up having a crash.
The findings, based on driving data and associated claims, underline the power of driving data from black box policies in supporting driver safety. Recently Insure The Box identified a 30% increase in evening rush hour accidents immediately after the clock change, and implemented a programme of communication to warn customers about the risks.
Charlotte Halkett, of Insure The Box, said: “Unlike traditional motor insurers, we can calculate the risk of a customer having an accident based on their individual driving patterns, rather than the usual parameters, such as age and vehicle engine size. And the actual driving data received from the black boxes installed in our customers’ vehicles enables us to directly target feedback and incentives to encourage our policyholders to improve their driving.”
Halkett continued: “For example, we have seen a reduction in speeding of 15% amongst customers who we had seen speeding on a regular basis. Our data shows that this is likely to reduce the number of serious or even fatal accidents on our roads. Our telematics data is also proving immensely powerful in identifying potentially fraudulent claims and protecting our customers, as appropriate, when there is a liability dispute.”