Spy-in-the car boxes for young drivers slash accidents by a fifth and may save 40% on insurance after a year

By STEPHEN WOMACK

PUBLISHED: 15:31 EST, 31 March 2012 | UPDATED: 05:24 EST, 1 April 2012

Read more: http://www.thisismoney.co.uk/money/cars/article-2123201/Monitoring-habits-young-drivers-reduces-accidents-fifth-insurer-analysis-found.html#ixzz1qoBuGoOa

Fitting an insurance ‘spy in the car’ to monitor how youngsters drive can cut accidents by one fifth, potentially saving hundreds from death or serious injury. And it should mean that getting cover will be much easier. 

This is the conclusion of Co-operative Insurance, which has analysed the performance of 15,000 customers who have signed up to a policy that includes the fitting of its Smartbox. 

They were found to be 20 per cent less likely to be involved in an accident than those without one. Crashes were generally less serious, with damage and injury costs almost one third lower.

Grant Mitchell, head of motor insurance at the  Co-op, says: ‘It is still early days and some of those who join will be safer drivers anyway, but there are signs of customers showing gradual improvement in the way they drive.’

Co-operative will this week publish more details of its research. Its findings are likely to give a boost to those who argue that fitting satellite trackers to cars is the best way to combat the astronomical costs of cover for young drivers.

Co-operative has been offering its Smartbox cover for a year. The black box monitors braking and acceleration, cornering and speed. It also tracks when a car is used, as most accidents involving young drivers are late at night.

Lynx Telematics currently offers the most comprehensive and advanced technology in the new "Teen Driver" market with it's product LynxSafe.

Parents can monitor their teens driving behavior with urgent alerts regarding speeding, seat belt usage, excessive RPM's, hard braking, and unauthorized vehicle use.

LynxSafe also has the ability to provide real time diagnostic feedback on vehicle health as well as the ability to disable texting and driving.

For more information on how the LynxSafe product can help develop teen safe driving habits, contact Vincent Rush with Lynx Telematics at (513) 702-0495 or at vrush@lynxtelematics.com