Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 20th of January 2018
January 26, 2010

Speeding drivers pay double premiums

by David Masters

Story link: Speeding drivers pay double premiums

Drivers caught speeding pay an average of £100 extra on their car insurance, new research has discovered.

Getting caught out three times means paying up to double the amount on insurance premiums, moneysupermarket.com found.

A study by the price comparison site identified the UK’s worst speeding offenders.

Scotland, Swindon, and Sheffield were named as home to the worst speeding offenders in the country.

Men were found to be the most likely to speed, with the top ten places for the most speeding convictions all taken by men.

“Unfortunately he classic stereotype of a boy racer lives on,” said Steve Sweeney, moneysupermarket.com’s head of motor insurance.

“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 with women.”

The Institute of Advanced Motorists (IAM) said the insurance industry needs to do more to help young male drivers improve their driving skills.

“The industry needs to work with those already trying to find ways of improving young male drivers’ skills and behaviour on the road, and to invest in their driver education,” said Peter Rodger, IAM chief examiner.

“The biggest incentive to improve themselves would be lower insurance premiums, but the industry denies this to those in the highest risk range, effectively trapping them there.”

 

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