- Single speeding fine can lead to 25 per cent jump in car insurance premiums
- Male drivers affected more than women
- RoadPilot Mobile subscription can save motorists’ money and licences
A new study conducted by RoadPilot has revealed that incurring a single, three-point penalty for speeding can now lead to an increase in insurance premiums of almost 25 per cent.
The company’s research of 10 leading insurers* found that premiums for male drivers rose by an average of £85 (14 per cent) once a three-point conviction was taken into account. However, in individual cases the increase can be far higher. With some insurers, premiums climb by as much as £158 (24 per cent).
A speeding endorsement will remain on a driver’s licence for four years, meaning that over the period in which they are obliged to declare the conviction to insurers it can cost drivers as much as £692**.
Female drivers fair slightly better than their male counterparts. On average they are likely to see premiums jump by £69 per year, or 13 per cent, equating to over £276 across a four-year period.
Drivers with six endorsement points having committed a second, or more serious offence, could be hit even harder, with premiums for men and women rising by as much as 40 per cent – more than double the average increase of a single endorsement. Once again, men are penalised more, incurring an average increase in premium of £235 per annum, compared to £204 for women. One quote indicated that a male driver would suffer as much as a £595 annual increase for a six-point conviction.
James Flynn OBE, CEO of RoadPilot, comments, “A £60 fine for speeding is hard enough to swallow, but many people don’t realise the significant hidden cost of being caught by a roadside camera. Drivers also need to remember that endorsement points stay on their licence for a long time, hitting their pockets year after year through higher insurance premiums.”
Subscribers to RoadPilot Mobile, a speed camera detector application for GPS smartphones, can receive the latest updates of fixed and mobile camera locations anywhere in the world. At a cost of £2.99 for a monthly subscription, with annual (£14.99) and three-year (£29.99) packages also available, RoadPilot users benefit from total peace of mind, and could save up to £145 a year as a result.
“A subscription to RoadPilot Mobile can help drivers be more aware of local limits and therefore avoid being caught speeding,” Flynn continues. ”What’s more, thanks to the innovative real-time alert facility of RoadPilot Mobile, which allows users to notify other drivers if a mobile camera site is live, drivers can benefit from thousands of mobile camera site updates every month.”