Drivers with Six Penalty Points Paying £352 Million
Motorists who have six penalty points added to their licence collectively pay £352 million in car insurance each year, new research has revealed. As of February last year, there were 463,230 motorists with six points on their licence. When coupled with an average car insurance premium of £760 – as opposed to the average of £432 for those drivers with a clean licence – the £352 million premium figure is generated.
Data compiled by comparethemarket.com found that drivers with six points on their licence are paying £152 million more for car insurance than those with none. The research also shows that drivers who are given six penalty points could see their insurance premiums rise by almost 76 per cent.
Simon McCulloch, director at comparethemarket.com, said: “Motorists who drive over the legal speed limits are now facing harsher penalties, but what drivers perhaps don’t always realise is that they could also face additional costs in the form of more expensive insurance premiums. The expense alone should be a strong incentive for motorists to watch their speed when driving. The average motor insurance premium has risen by £47 to £729 over the past year so, as driving gets more and more expensive, watching your speed can help keep the cost of motoring down.”
Changes to speeding fines now mean that getting caught is costlier than ever. Drivers receiving the highest speeding penalty will see fines increased by up to 50 per cent. Those caught using a mobile phone behind the wheel will now be handed a £200 fine and six points – up from the £100 fine given prior to the revisions.