Speeding To Accelerate Insurance Premiums

Published Date: 15th Mar 2006

Proposed amendments to the Road Safety Bill could see motorists who are caught travelling at 45mph in a 30mph zone receive six points on their license.

According to cheap car insurance industry experts, having six points on your licence could lead to a 300 per cent increase in annual premiums, which translates to an average increase of £3,000 over five years.

Even when the points on your licence have expired they could still affect your eligibility for cheap car insurance.

When applying for a new car insurance policy it is a legal obligation to declare any speeding points that you have received in the five years prior to the application.

Richard Mason, director of an online insurance comparison site explained: "Our research has shown that premiums could increase by as much as £476.39 after one speeding offence (6 points) under the new proposals, and once you?ve had your license revoked, it will cost you almost ?860 to get insurance.

"With the old system, most insurers turned a blind eye to three points on your license, but with six points for a first offence, insurers will hike premiums dramatically due to the increased risk of you speeding again and having your license revoked.

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