Would you speed if you were paid not to?
That's the thrust of a study by the National Highway Traffic Safety Administration (NHTSA
) showing that motorists followed speed limits when offered financial perks.
The study, conducted by researchers from Old Dominion University in Virginia and Western Michigan University, focused on 50 people who drove cars equipped with GPS trackers designed to monitor speed. Drivers who didn't go over the limit received $25 each week.
That's the thrust of a study by the National Highway Traffic Safety Administration (NHTSA
) showing that motorists followed speed limits when offered financial perks.The study, conducted by researchers from Old Dominion University in Virginia and Western Michigan University, focused on 50 people who drove cars equipped with GPS trackers designed to monitor speed. Drivers who didn't go over the limit received $25 each week.
But motorists who drove 5 to 8 mph too fast were penalized three cents each time. If they went 9 mph or more above the limit, the penalty doubled to six cents.
"This had a robust effect in getting drivers to reduce their speeding," says Ian Reagan, the study's lead researcher and now a senior researcher for the Insurance Institute for Highway Safety "Egregious speeding, driving 9 or more mph over the limit, was just about eliminated for those that had the incentive" not to speed.
Auto insurers advised to provide incentives
Insurers should consider rewarding policyholders if they obey speed limits, which would reduce traffic accidents, deaths and injuries, and the resulting auto claims and health coverage costs, says James Bliss, an Old Dominion University professor and one of the NHTSA study's key researchers.
Another option could be a discount on premiums, similar to how pay-as-you-go, or usage-based insurance, policies work. While pay-as-you-go (PAYG)depends on drivers plugging a device into their cars to monitor performance, ISA technology in the future would likely be installed in new model cars as a standard crash-avoidance featureDrivers would likely use either ISA technology or a usage-based system, but not both, because both monitor speed.
The pay-as-you-go roadmap
The study's results do seem to mirror the pay-as-you-go model - a hot trend in the auto insurance industry. Under PAYG, insurers give qualifying motorists premium discounts -- as much as 30 to 40% in some cases -- by installing devices in their cars that track driving habits and mileage. The safer and less you drive, the bigger the discount, according to insurers.
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