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Newsletter

Speeding 'creates car insurance hike'

By Tom Farley, Mon 25 Jan 2010 - Published in Car Insurance

Motorists who are caught speeding could face higher car insurance premiums, it has been pointed out.

Price comparison service Moneysupermarket.com showed that the average price of car insurance is £545.86, but this increases to £623.15 for motorists with three points on their driving licence.

In addition, those with six penalty points pay an average of £773.82, while drivers who have accumulated nine points can expect to pay £958.25.

Steve Sweeney, head of motor insurance at Moneysupermarket.com, commented: "Speeding does increase accident rates so it's hardly surprising insurers view a conviction dimly."

The organisation also said that people can use price comparison websites to find a better deal when renewing their car insurance, while buying cover online often results in a discount.

Agreeing to pay a higher excess and adding an older driver to the policy can cut premiums, the group added.

Last week, price comparison site Gocompare.com reminded companies to ensure that workers have adequate cover when they are using personal vehicles as part of their jobs.