The UK’s leading price comparison website, moneysupermarket.com, has found that speeding motorists face staggering increases on the cost of their car insurance premiums after recently conducting research across five different insurance companies.
The standard for the research provided by MoneySupermarket was the model of a 30-year-old male teacher in Manchester with 5 years no claims discount. The cost of insuring a 2006 Ford Focus driven 10,000 miles per year and kept on a driveway was 666.98 with a clean licence, compared to 1,026.83 with 9 points.
MoneySupermarket car insurance expert Peter Harrison commented on the findings, saying: “We have witnessed sharp increases to the cost of car insurance premiums recently. moneysupermarket.com research found premiums rose by 44 pence per day in 2010 on average, and this trend is set to continue, especially with the recent ECJ ruling on the legality of using gender to calculate insurance premiums.”
The research suggested that insurers could force drivers who speed persistently off the road altogether if they don’t change their habits. While there are plenty of drivers on the road who regularly speed, not all have been caught by police speed guns and patrols yet.
Caution goes out to all those drivers that, while at the moment may be enjoying a relatively low insurance premium, are likely to fall foul of a speed trap if they continue to break the law, and they will be severely penalised by the police - and their insurer - for it when they do.
Peter Harrison added: “Insurers clearly take a dim view on policy holders who speed and this is reflected in higher car insurance prices. Even going just above the speed limit can add huge additional costs to your car insurance, and for repeat offenders, some insurers may even refuse to cover you, so motorists should take extra care to ensure they stick to the speed restrictions.”
MoneySupermarket recommends drivers who are suffering from the extra costs of running their car do a couple of things in order to decrease their premiums. Shop online to find the lowest quote possible; add an older, more experienced driver as a named driver; fit a Thatcham-approved car alarm & immobiliser; agree to pay a higher excess; park off road at night; and reduce mileage.
Shop online using the moneysupermarket.com car insurance comparison tool to find the lowest quote possible.