Speeding could double insurance trouble

16 March 2006
A single speeding offence could increase annual car insurance premiums by as much as £476.39 when the government's proposed Road Safety Bill comes into effect.

Under the current system drivers only get three points on their licence, but the government wants to increase this to six points for driving at 45mph in a 30mph area.

Adding six points to a driving licence can see premiums increase from £240.62 to £717.01, insuresupermarket calculates.

While three points doesn't have much of an impact on car insurance, doubling the figure will lead insurers to make a corresponding increase to cover the risk of having your licence revoked. If this happens it can cost almost £860 to get insurance.

Then, with an obligation to declare points to insurers for five years, car insurance premiums could end up costing as much as £3,075.85 in higher premiums.

Richard Mason, director of insuresupermarket, said: "Driving dangerously won’t just cost you points on your licence; your premium will significantly increase with six points.

"For car insurance premiums, points really do mean pounds - and lots of them."

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