UK drivers with three speeding-related penalty points on their license could face a 24 per cent rise in insurance premiums, according to new research.
Speed camera location specialists RoadPilot has conducted researched quotes from ten leading insurers and found that premiums for male drivers rose by an average of £85 (14 per cent) once a three-point conviction was taken into account. However, in some cases premiums rise by as much as £158, or 24 per cent.
As a speeding endorsement remains on a driver's licence for four years, the offence can cost drivers as much as £692 in increased premiums over the period.
James Flynn, chief executive of RoadPilot, said: "A £60 fine for speeding is hard enough to swallow, but many people don't realise the significant hidden cost of being caught by a roadside camera.
"Drivers also need to remember that endorsement points stay on their licence for a long time, hitting their pockets year after year through higher insurance premiums."
Female drivers who fail to use their brakes adequately and are caught speeding are subject to a smaller increase in premiums than their male counterparts, with premiums rising by £69 per year on average.