Those lead-footed motorists that rack up speeding convictions will be in for a nasty shock when their irresponsible behaviour results in their discount car insurance premiums vanishing into thin air, says a recently released research study.
Car insurance rates for speedsters increase by approximately 54 per cent following a conviction, a new moneysupermarket.com research study revealed. The car insurance comparison site discovered that there were massive differences between the premiums for convicted speeders and those who keep within posted speed limits.
Motorists with six points on their licenses and speeding convictions were discovered to pay as much as 19 per cent more than responsible drivers on average. Repeat offenders will be awarded the dubious honour of seeing car insurance companies penalise them even further with the potential of a brutal 54 per cent increase for those whose licenses have 9 points.
The website’s car insurance expert Peter Harrison stated that insurance companies look poorly upon their policy holders who are caught speeding. This is shown by their tendency to increase the prices of car insurance for convicted speeders, remarked Mr Harrison, even if caught going just a few miles over the speed limit. Some insurers may even refuse to cover repeat offenders,warned the insurance expert, which should prompt motorists to take care to make sure they take heed of the local limit.
Moneysupermarket.com has witnessed sharp car insurance premium costs recently, continued Mr Harrison. He stated that the website’s research study discovered that premiums rose by 44p a day on average last year alone, with no sign of the trend abating. This is especially to be expected since the European Court of Justice recently ruled that calculating insurance premiums on a gender basis was illegal, Mr Harrison added.