Speeding convictions can add over £100 to premiums

Motorway speeding convictions can increase annual motor premiums by £101, according to Consumer Intelligence.

Research shows that the average cost of speeding is an additional £50 per year on a motor premium, but this more than doubles when caught speeding on a motorway.

For any other road, the consequences averages around a £36 increase on premiums.

The research found that drivers without any speeding convictions pay an average £693 a year but that jumps to £743 a year with any speeding conviction.

The biggest impact on bills, however, comes from being caught speeding on a motorway – the so-called SP50 offence, takes them to £794 a year.

Older drivers who are caught speeding pay the biggest price in terms of insurance. A motorway speeding conviction adds an extra £166 a year to the insurance bill of over-50s, the data shows.

Most recent Government data shows 1.97 million fixed penalty notices for speeding offences were issued in 2016 and the number has increased by 32% since 2011.

John Blevins, Consumer Intelligence’s pricing expert said: “Our analysis shows that the cost of speeding is not just the fine but the higher insurance bill.

“At more than £100 a year for being caught exceeding the limit on a motorway or £50 on a public road, it is substantial considering insurers ask about any convictions in the past five years.

“Insurers understandably take the view that drivers who break the speed limit are potentially a greater risk and as a consequence put up the cost of motor insurance. Premiums may be heading down again after years of increases but drivers who break the law will not benefit from any price reductions.”

The table below shows the average premiums and cost of speeding.