Learn what the updated speeding fines and punishments could mean for you

Tougher punishments for those caught speeding have been introduced in England and Wales as of April 2017; it’s hoped that these will act as genuine deterrents to anyone who thinks that roads double up as racing tracks. But what could these new punishments mean for your car insurance premium? Our latest research reveals all. 

speed camera on motorway
the cost of speeding

What are the new rules?

Drivers caught speeding could now pay anything between 25% and 175% of their weekly income in fines, up to a maximum of £2,500 for motorway offences and £1,000 on all other roads. Licence points will still be awarded alongside the fines for speeding, as well as for other crimes such as using a mobile phone in a car, drink driving and causing an accident. 

How will this affect car insurance premiums?

However, fines are not the only ways you could find yourself out of pocket if caught speeding. We found that those who receive points on their licence also face higher premiums as a result; drivers with up to six points collectively pay £352 million in premiums each year.**

If you receive six points, you could see your premium jump by almost 76% from an average of £432 to £760 a year – a difference of £328. As of February last year, there were 463,230 drivers with six points on their licence, meaning those with driving offences are paying an estimated £152 million more than those without points.

We found that men aged between 40 and 49 years old are most likely to receive points. 8,681 drivers who were awarded six points in February 2016 fell into this group. By contrast, only 3,170 40-49 year old women were awarded six points over the same timeframe. Our data shows that the average premium for this age group is £484 but six points on their licence could see premiums across this age group increase to £851. This is the last thing that many drivers need given the rising cost of car insurance in general.

What do the harsher penalties mean?

The changes to speeding penalties means a 50% increase for the highest speeding penalty, as they’re split into three bands (A, B and C) (band C fines are the most severe .) This follows on from the changes introduced on 1 March 2017 where penalties for mobile phone usage double from the previous £100 fine and three points to £200 and six points. Those with a clean driving licence will still be able to trade points for a speed awareness course, but previous offenders may not receive the same opportunities and will have to take the additional points.

So, what can anyone caught speeding, expect? Here’s what the guidelines say:

table showing 2017 speeding fines
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Simon McCulloch

Director

comparethemarket.com

"Drivers who drive over the legal speed limits are now facing harsher penalties, but what drivers perhaps don’t always realise is that they’ll could also face additional costs in the form of more expensive insurance premiums. Our data shows that drivers who are handed six points can see their premiums jump by nearly 76 %. 

“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.”

It can feel like the needs of your car are a constant and excessive drain on your wallet, especially if you’re a young driver, but there are ways and means of getting premiums down (whilst staying on the right side of the law). So, don’t despair over your latest renewal letter or worry about what type of insurance is right for you – our car hub lifts the lid and looks hard under the bonnet to answer your questions – why not take a look? 

**£352 million: 463,230 drivers with 6 points x £760
https://www.gov.uk/government/publications/total-number-of-driving-licences-with-and-without-penalty-points
https://data.gov.uk/dataset/driving-licence-data

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