Speeding drivers pay insurance penalty

A quarter of all households have a driver with at least one conviction for speeding, thanks to the rapid increase in the number of roadside speed cameras.

But a typical SP30 speeding offence doesn’t just bring a £60 fine – it can bring a significantly higher cost with increased insurance premiums for the subsequent three years.

Findings from AA Insurance reveal that although a first offence may not result in an immediate premium increase, the record remains for five years and subsequent offences will almost invariably result in higher insurance costs.

"There is a direct relationship between speed and insurance claims so insurers take speeding offences seriously," says Janet Pell, motor insurance manager of AA Insurance.

"You would pay even more if you transgress twice in the same year. And add a CD10 conviction for driving without due care and attention (for example crossing a red traffic light) and your insurance bill could almost double – or you may find it difficult to obtain cover at all."

But the view insurance companies take on motoring offences is far from consistent. For example, some pay little attention even to a second SP30 and may increase premiums by as little as 10 per cent for a CD10 offence. Others may double the premium.

Adds Janet Pell: "Don’t even think about not telling your insurer of any driving convictions you collect. If your insurer subsequently discovers your offence, they may apply a significant penalty. If you are involved in an accident that is related in some way to a previously undeclared offence, you could find your insurance invalidated."

As Britain’s biggest car and home insurance broker, AA Insurance searches its panel for the best deal for customers and will automatically offer the cheapest premium available at renewal, even if you have a motoring offence.