Daily Insurance Industry News
Daily Insurance Industry News
Saturday 24th of March 2018
January 22, 2008

Long-term effects from speeding convictions

by Gill Montia

Story link: Long-term effects from speeding convictions

A new report from moneysupermarket.com warns that insurers are likely to penalise motorists who are banned from driving for speeding, for a number of years.

Research by the price comparison website also indicates more than one speeding conviction can result in a sharp increases in motor premiums.

For example, two speeding convictions can increase the cost of cover by almost 25% and a six-month ban can increase add up to 50% to the cost of a policy.

According to Peter Gerrard, head of insurance research at moneysupermarket.com, drivers with just one speeding conviction are unlikely to notice any increase in cost.

However, he adds: “If you lose your licence speeding … then when you return behind the wheel you will be hit with greatly increased premiums for up to five years.”

It is estimated that up to 2.5 million motorists in the UK have unexpired points from speeding offences.

Drivers generally get three points on their licence for a speeding offence and can expect to be disqualified if they accumulate 12 points. Anyone convicted of speeding is obliged to inform their motor insurer.

For those experiencing bad luck with speed cameras, speeding insurance product are available to help cover the additional costs of being without a car, although cover is invalidated by reckless driving or driving while under the influence of alcohol or drugs.


News posted:

Related stories to Long-term effects from speeding convictions: