Comment on the Government's consultation to clampdown on excessive speeding

Published:

20/11/2008

Topic:

Press Release,Insurance,Car

Andy Leadbetter, head of insurance at moneysupermarket.com, said: "Proposals to punish extreme speeders and drug-driving with harsher penalties and a ban can only be a good thing if it cuts down dangerous driving.

"Those who commit driving offences don't think about the implications of their actions, not only could they harm someone else, but if they are caught it could have a big impact on their insurance costs.

"Our research shows two speeding convictions will typically raise premiums by 16 per cent, and a six-month ban for speeding could send renewals soaring by almost 50 per cent for a male driver aged 30. Furthermore, drivers could find themselves totally uninsurable as some providers could refuse to cover you.

"Speeding increases accident rates so it's hardly surprising that insurers view it dimly. If you lose your license speeding, you will have the expense and inconvenience of public transport, and then when you return behind the wheel you could be hit with greatly increased premiums for up to five years."

- Ends -

Notes to editors:

1 Examples of insurance premium changes for speeding by males and females

Provider	Clean Licence	3 points on licence	Per cent increase	6 points on licence	Per cent increase	6 month speeding ban	Per cent increase
ibuyeco	£298.24	£349.34	17.13%	£349.34	17.13%	£477.93	60.25%
LV=	£305.36	£346.24	13.39%	£346.24	13.39%	n/a	n/a
esure	£313.48	£358.93	14.50%	£358.93	14.50%	n/a	n/a
Post Office	£324.02	£381.45	17.72%	£381.45	17.72%	£450.98	39.18%
HSBC Insurance	£325.81	£383.58	17.73%	£383.58	17.73%	£462.10	41.83%
Average			16%		16%		47%

30 year old male in Milton Keynes driving a 2004 Vauxhall Astra 1.7CDTI 16v Envoy, 12,000 miles a year with 5 years NCD. Parked on driveway.

Provider	Clean Licence	3 points on licence	Per cent increase	6 points on licence	Percent increase	6 month speeding ban	Per cent increase
LV=	£263.66	£298.07	13.05%	£298.07	13.05%	n/a	n/a
ibuyeco	£276.61	£323.73	17.03%	£323.73	17.03%	£425.08	53.67%
esure	£287.29	£328.94	14.50%	£322.43	12.23%	n/a	n/a
Kwik-Fit Insurance	£290.82	£300.90	3.47%	£300.90	3.47%	£360.18	23.85%
Sheilas' Wheels	£293.49	£329.39	12.23%	£336.04	14.50%	n/a	n/a
Average			12%		12%		39%

30 year old female in Milton Keynes driving a 2004 Astra 1.7CDTI 16v Envoy, 12,000 miles a year with 5 years NCD. Parked on driveway.

Sourced by www.moneysupermarket.com 20.11.2008

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