Car insurance: Motorists aren’t always penalised for speeding

May 12th, 2009

If you having a speeding offence on your licence, chances are you could be being penalised by your insurance company.

Online car insurance provider swiftcover.com compared car insurance quotes and found that a single speeding fine could lead to insurance premium rises by as much as £50, £60 or even £70. swiftcover.com, however, does not penalise drivers with just one speeding offence because the company doesn’t see them as an increased insurance risk.

Craig Staniland, underwriting director at swiftcover.com explains: “swiftcover.com uses detailed claims data to identify where the major areas of claims risk are, so that we can keep car insurance premiums low for those drivers that do not present a higher risk. Our claims data shows that drivers with a single speeding offence on their licence are no more likely to make a claim than drivers without a conviction.

“Multiple speeding offences could end up with a driver being banned due to the totting up rules, so we find that responsible motorists with one speeding offence will probably drive even more safely to ensure they do not end up with further points and a ban. If a driver is banned, their insurance premiums will soar once they are allowed back on the road again.”

Entry Filed under: advice, insurance