Speeding could send drivers' car insurance rocketing

Tue, 22 Jan 2008

Speeding might not only lose you your licence - but it could see your car insurance premium increase by up to 74 per cent, new research shows.

The study, conducted by moneysupermarket.com, found that a 30-year-old male who served a six month speeding ban and had their car insurance with Endsleigh faced paying a premium of £483.27.

A 30-year-old male with a clean driving licence would only pay £277 for their car insurance with the company, moneysupermarket.com said.

The study found that the average increase in car insurance policies for men after a six month ban was 50 per cent.

For a 30-year-old woman it was 47 per cent.

Peter Gerrard, head of insurance research at moneysupermarket.com, said: "If you lose your licence speeding, you will have the expense and inconvenience of public transport .

"And then, when you return behind the wheel, you will be hit with greatly increased premiums for up to five years."

In a survey conducted by BMRB and road safety group THINK!, 74 per cent of respondents admitted to speeding.

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