Speeding Never Pays – How to Stay Safe and Maintain Affordable Car Insurance
New, stricter penalties mean motorists now face fines up to 150% of your weekly salary if you are caught speeding. But the financial costs of breaking the speed limit don’t stop at the ticket. Points added to your licence can see your car insurance costs spiral upwards too. Read on to find out more about how much being caught speeding could now cost you, and how you can keep your insurance cover affordable.
What are the new UK speeding fines?
On 24 April 2017, the government introduced a new system of fines for anyone caught speeding. It divides the penalties you’ll receive if you’re caught exceeding the speed limit into three bands according to the severity of the offence.
- Driving less than 10mph over the speed limit puts you in Band A, with a fine equating to roughly 50% of your weekly salary and three points added to your licence. The minimum fine you’ll face is £100.
- Driving between 11mph and 20mph above the given speed limit would put you in Band B. That means a fine of around 100% of your weekly salary and a four to six points added to your licence, or the possibility of a temporary ban of up to 28 days.
- Driving over 20mph above the speed limit puts you in Band C. That will result in six points being added to your licence and a possible temporary ban of up to 56 days. It will also result in a fine of around 150% of your weekly salary.
How do I get cheaper car insurance if I have penalty points on my licence?
Even if you’re a first time offender with only three points on your licence, it is very likely that it will have an impact on the cost of your car insurance. The best way to keep car insurance premiums as low as possible is to stick to the speed limits and avoid points for speeding. But what if you have already received a speeding ticket? There are still steps you can take to try to keep your car insurance premiums as low as possible.
Consider telematics
If you think you are a safe driver who just got unlucky, consider telematics or Blackbox Insurance. This insurance involves having a device fitted to your car, which measures how safe a driver you are. It records things like your speed, your braking, and the time of day you drive. This data is used by your insurance company to decide how safe a driver you are. Careful driving is rewarded with lower premiums. But be warned, if the device records you driving unsafely, your insurance premiums could increase.
Check if the points are already spent
When you’re getting a new insurance quote, it’s essential to tell your insurer that you have endorsements on your licence for speeding. If you don’t, your insurance could be invalidated and you won’t be covered if you need to make a claim. But, don’t forget that penalty points for speeding are revoked after four years. If you can’t remember when you were fined for speeding, double check if you still have an endorsement on your licence. If the penalty points are no longer valid, you won’t need to tell your insurance provider unless they ask if you have ever received any endorsements.
Shop around for affordable car insurance
Insurance providers use different formulas when calculating risk. That’s why you can sometimes find a large difference between two quotes for the same cover from different providers. The golden rule, if you want to find affordable car insurance, is to never just take the easy option and accept your renewal quote.
You could use a price comparison website as a starting point for comparing premiums, but remember that not all insurance companies are represented on these sites. It’s also essential to double check the small print to ensure that what seems like a good deal contains the level of cover you need.
If you don’t have the time to go online or ring around, use a trusted, independent broker like Park Insurance to do the hard work for you. We have over 30 years of experience finding the best value for money deals and work closely with some of the UK’s biggest insurance providers. That means we can negotiate great prices on your behalf.
Call us now on 0117 955 6835 or get a free quote here for your car insurance.