Serial speeders drive their way to sky high insurance premiums
Motorists convicted of speeding could see the cost of their motor insurance premiums rocket by 54 per cent according to research by moneysupermarket.com.
Britain's number one comparison site found there is a huge difference to the cost of insurance premiums for those with speeding convictions compared to those without. A driver with a speeding conviction and six points on their license could pay 19 per cent more on average than someone with a clean license. Those who repeatedly flout speed laws will find themselves bearing the brunt of even heftier increases in premiums, with a staggering 54 per cent potential increase for those with 9 points on their license.
Peter Harrison, car insurance expert at moneysupermarket.com said: "Insurers clearly take a dim view on policy holders who speed and this is reflected in higher car insurance prices. Even going just above the speed limit can add huge additional costs to your car insurance, and for repeat offenders, some insurers may even refuse to cover you, so motorists should take extra care to ensure they stick to the speed restrictions.
"We have witnessed sharp increases to the cost of car insurance premiums recently. moneysupermarket.com research found premiums rose by 44 pence per day in 2010 on average, and this trend is set to continue, especially with the recent ECJ ruling on the legality of using gender to calculate insurance premiums. Not only are motorists who flout the law by speeding risking the lives of other road users and pedestrians as well as their own, they also run the risk of adding to the existing headache of sky high car insurance premiums.
"My advice to motorists concerned by the cost of their car insurance is to always scour the market for the best deal for your circumstances."
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.