Speeding doubles insurance premiums

• Points mean penalties
• Speeding hotspots identified
• Men are worst offenders

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Every three points on a driver's licence adds an average of £100 to their insurance premium, and having nine points could double the bill, according to new research.

The UK's worst speeding offenders are also identified in the study by price comparison website moneysupermarket.com, which analysed almost 3 million motor insurance quotes from drivers with convictions.

Meet the worst offenders
Scotland, Swindon and Sheffield are home to the worst speeding offenders by age and gender.

• 54% of speeding convictions in Milngavie, East Dunbartonshire (Scotland) were men aged 17-21.
• 52% of speeding convictions in Swindon were men aged 31-40.
• 30% of speeding convictions in Sheffield were men aged 31-40.

Men are most likely to speed
The top 10 places for the most speeding convictions are all taken by men, with a bias towards younger males.

'The classic stereotype of a boy racer lives on,' said Steve Sweeney, head of motor insurance at moneysupermarket.com. 'There are no female drivers anywhere near the top of the table in our analysis of speeding convictions and unfortunately this is reflected in the price of premiums for men when compared with women.'

Young men are twice as likely to be in a crash as young women, and although they make up only 9% of drivers, the under-25 age group is involved in almost 25% of crashes that cause death or injury, according to the Institute of Advanced Motorists (IAM).

How premiums are affected
The following examples (see table below) of how premiums are affected by speeding takes a 30-year old male teacher living in Manchester and driving a Ford Focus 10,000 miles a year, with a 5-year no claims discount and off-road parking.

Sourced by www.moneysupermarket.com 11.12.2009

Should the industry do more?
The IAM believes that the insurance industry should do more to help young male drivers.

Peter Rodger, IAM chief examiner said: 'The industry needs to work with those already trying to find ways of improving young male drivers' skills and behaviour on the road, and to invest in their driver education.

'The biggest incentive to improve themselves would be lower insurance premiums, but the industry denies this to those in the highest risk range, effectively trapping them there.'

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