Counting The Cost of Driving Convictions
The cost of car insurance for drivers with motoring convictions can be far more punishing on the wallet than any fines charged. Read more.
May 26, 2011, Press Dispensary.
No one enjoys paying more than they need to for their car insurance. But if you have recent motoring convictions on your licence then the chances are that you will be paying substantially more for your policy. But just how much more will you have to pay for your car insurance
? The answer, of course, varies from driver to driver and from car to car.
comparison website Tiger.co.uk has run some sample quotes to demonstrate how racking up points on your licence can cost much more than just a one-off fine – this is most definitely a case of points not equalling prizes!
The examples are based on a middle aged man living in the East of England, buying comprehensive insurance cover for a 7 year old mid-range family car.
|Conviction code||Offence||Punishment||Date(s)||Ave Top 3 Tiger.co.uk Prices (£)||Additional cost|
|SP30 x 1||Speeding||3 points/£60||Jan 2011||250.91||20.5%|
|SP30 x 2||Speeding ||Ʊ points/£60||Jan 2010, 2011||288.27||38.5%|
|SP30 x 3||Speeding||Ʊ points/£60||Jan 2009, 2010, 2011||335.64||61.2%|
|OTHER COMMON MOTORING OFFENCES|
|TS10||Failing to stop at lights||3 points/£60||Jan 2011||261.23||25.5%|
|CU80||Using mobile phone||3 points/£60||Jan 2011||267.61||28.5%|
|CD10||Driving without due care||6 points/£100||Jan 2011||287.40||38.1%|
|DR10||Drink driving (45mg/100ml breath)||12 points/1 year ban/£1,000||Jan 2010||368.28||76.9%|
|IN10||Driving without insurance||6 points/£180||Jan 2011||392.55||88.6%|
In these examples our driver with a clean licence is lucky enough to have found a good deal on Tiger.co.uk with an annual premium of £208. (With average UK premiums for comprehensive cover currently running at £892 according to the AA, this driver’s age, postcode, occupation, vehicle and driving history are producing a relatively cheap quote).
However, when the insurance quote is re-run adding in one speeding conviction, the premium increases by over 20% - that’s £43 a year based on this drivers premium but it would equate to £183 based on the national average policy price. This single speeding offence will, for most insurers, result in a three-year increase in insurance costs, which means that a £60 fine has escalated into an additional £129 in car insurance payments.
Based on the national average premium, this increases to an eye-watering £549 of additional costs. Makes you wonder whether that extra few miles per hour were really worth it!
Multiple offenders can expect to pay even more. A second speeding ticket increases the premium by over 38% and a third ticket in three years adds up to an increase of over 61% when compared to having a clean licence. If this is based on the national average policy price of £892 then this results in an additional annual car insurance cost of £343 per year for two “live” speeding convictions and £545 for three. Looking at this scenario in the longer term, a driver picking up three speeding convictions over a three year period could be looking at forking out an additional £1,597 for their car insurance over the period during which these convictions would remain a factor for most insurers.
Other motoring convictions have a similar or greater effect on car insurance premiums, with, for example, a failure to stop at lights or using a mobile phone whilst driving increasing quoted insurance prices by 25% and 28% respectively. And at the most serious end of the spectrum, a drink driving or driving without insurance conviction could add in excess of 80% to a driver’s annual insurance premium.
A spokesperson for the comparison site that produced this research, Tiger.co.uk, commented: “One of the best ways for any driver to keep their insurance costs down is to drive safely and legally and keep points off their licences. Our sample quotes show the very real insurance cost increases for drivers that break the law. These tend to dwarf the fine that might accompany the licence endorsement. However it is important to declare any recent convictions that you have had on your licence – most insurers want to look at the last 5 years. Failure to declare convictions may lead to insurance being invalidated.
However, we understand that not all drivers can keep their licences clean and for anyone looking for affordable car insurance quotes
we would recommend searching across lots of different insurers with an easy-to-use and independent comparison site like Tiger.co.uk”.
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Notes for editors
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent price comparison site, offering insurance quotes from over 130 motor insurance brands. Call Connection Ltd is authorised and regulated by the Financial Services Authority (number 308374).
For further information, please contact:
Jo Buck, Tiger.co.uk
Tel: 01473 418513