Double the points will mean double your insurance premium

Leading insurance comparison site Gocompare.com has warned drivers that the plan to double the fixed penalty for speeding could also lead to a doubling of your insurance premium if you were to receive a ban under the proposed new structure.

Hayley Parsons, Gocompare.com’s managing director explained: “In addition to the obvious costs and inconveniences that come with a driving ban, it will also become far more expensive to obtain insurance once the ban is lifted. You need to declare this kind of ban to insurers for up to five years and as our figures show; your insurance could well double in price throughout that period. An average 38 year old male driver could be looking to pay almost £2,000 extra in total for car insurance during the five year period that follows a ban being lifted – and that amount is based on shopping around for the best price.”

Figures from Gocompare.com:

A 38 year old man based in Bristol, driving a VW Golf
-No convictions – cheapest insurance premium equals £311.79

-A ban through points totting up – cheapest premium equals £678.86

-Two years after a ban – cheapest premium equals £678.86

A 33 year old female based in Birmingham, driving a Peugeot 307

-No convictions - cheapest insurance premium equals £230.37

-A ban through points totting up – cheapest premium equals £452.67

-Two years after a ban – cheapest premium equals £452.67