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Accelerating cost of speeding

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The cost of being caught speeding is accelerating.

Not only are motorists hit with fines and penalty points on their licence, but research has shown punitive insurance premiums are racing ahead of inflation.

Drivers given three points for flashing past a ‘safety’ camera have seen their insurance rocket by 17 per cent in just the past six months.

And some insurance companies are now refusing cover for drivers caught twice and totting up six points, according to RoadPilot, a speed camera detection system provider.

Checking quotes from ten leading insurers, RoadPilot said it found the average additional premium penalty imposed was now £90 for three points compared with £77 in December 2011.

The findings also pointed to insurance premiums for female speeders rising faster than for male offenders.

James Flynn, CEO of RoadPilot, said: “The everyday costs of motoring continue to rise, so the last thing motorists can afford is a speeding endorsement.

“Insurance premiums for both men and women with no convictions have increased, on average, by 12 per cent over the past six months to an all-time high, so a further £90 increase, on average, to insurance premiums each year has a significant impact on overall vehicle running costs.”

 

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