Speeding motorists face rising insurance costs

10th July 2012

The financial cost of being caught speeding is on the rise, according to new research carried out by speed camera firm RoadPilot.

According to the findings, insurance premiums for first-time offenders have seen a significant increase in the past six months, with the average insurance premium for a speeder with three points around £90 higher than for a motorist with no conviction.

This is also up by 17 per cent on the average £77 penalty incurred in December 2011. The RoadPilot research also reveals that insurance premiums are rising faster for female offenders, in comparison with their male counterparts.

Based on research across ten leading insurers, the study found that women today face a premium increase of around 15.7 per cent or £90 for their first speeding offence compared with a rise of 13.4 per cent or £69 six months ago.

In contrast, men face a rise of 13.6 per cent today or £90, which is actually a decrease on the 14.3 per cent rise on a standard quote received six months ago.

RoadPilot  chief executive James Flynn said: "Insurance premiums for both men and women with no convictions have increased, on average, by 12 per cent over the last 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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