Car speeding leads to higher insurance premiums
Motorists convicted of speeding could see the cost of their motor insurance premiums almost double according to research by moneysupermarket.com, which also reveals the UK's worst speeding culprits.
The UK's leading price comparison site analysed almost three million motor insurance quotes over a year from motorists with driving convictions. It reveals boy racers in East Dunbartonshire, Scotland, are the worst offenders - with over half (54 per cent) of all the speeding convictions in the G62 postcode area belonging to the male drivers aged 17-21.
Also racing ahead of the pack are thirty-something men in Swindon (SN5) and Sheffield (S1), with 52 and 30 per cent respectively of the speeding convictions in those areas being held by the 31-40 year old age group.
Steve Sweeney, head of motor insurance at moneysupermarket.com said: "Unfortunately the classic stereotype of a boy racer lives on. It is telling there are no female drivers anywhere near the top of the table in our analysis of speeding convictions, and unfortunately this is reflected in the price of premiums for men when compared to women. Speeding does increase accident rates so it's hardly surprising insurers view a conviction dimly.
"The cost of car insurance can be high enough for young men, but added to that, speeding convictions can mean points on your licence and can potentially double your insurance premium, as well as landing you with a fine of up to £1,000.
"There is an even greater need to compare prices if you have a speeding conviction. Although about a third of providers will not increase the premium for one blemish on your record, serial speeders will find fewer providers willing to insure them and at increased prices."
Top tips for reducing the cost of car insurance:
Shop around - This is one of the easiest ways to save money. Don't assume that your current provider is giving you the best renewal quote; look at other insurers using the moneysupermarket.com car insurance comparison tool and see if you can save.
Buy online - Many car insurers offer discounts to customers that buy online.
Reduce your mileage - When applying for insurance, you estimate the number of miles you'll do each year. If you aren't travelling much then you'll usually pay less. That means that if you car share with a colleague or decide to take the train a couple of times a week, you can bring down the price.
Keep it safe - Insurers look at the risk every driver presents, so you'll get a better deal if you can reduce that risk. By keeping the car off the road at night in a garage or on a drive you make it safer, meaning your premiums will come down.
Car security - Make sure you have an alarm and immobiliser.
Drive a car with a smaller engine - If you're struggling to pay your insurance then give some thought to the car you're driving. The bigger and faster the vehicle, the more it will cost to insure.
Up the excess - Agreeing to pay a higher excess, such as £500 instead of £100, can reduce your premiums. Don't forget that this is what you will need to pay in the event of a claim, so be sure you can afford it.
Add an older driver - If you have a partner or parent who is more experienced behind the wheel, adding them to the policy can sometimes reduce what you pay. Whatever you do, don't make them the named driver, though. This is called fronting and could invalidate your insurance.
Ensure it's adequate - As you look for the lowest price, don't be tempted to scrap things you really need. It might cost more to have a courtesy car or legal fees paid, but if you need it then include it. Skipping extras that youcan't do without will be a false economy if you do need to claim.