Why it pays not to speed

As if avoiding accidents, fines and points on your licence wasn’t enough reason to keep within the speed limit on Britain’s roads, now you can add a fourth incentive to the list – cheaper car insurance.

Research from a price comparison website reveals that two speeding convictions will typically raise your premiums by 25%, while a six-month ban as a result of speeding convictions can increase premiums by 50%.

Of the many car insurance providers in the UK, Endsleigh, is shown to take a particularly dim view of repeat offenders – and has been known to push premiums up by as much as 74%.

Though the extent of the penalties may surprise some, the fact that car insurers take such a hard line to speedsters shouldn’t come as a shock. Speeding increases accident rates and should you be banned from driving not only will you have the expense and inconvenience of using public transport, but when you do get behind the wheel again you could be paying with increased premiums for up to five years.

The good news for drivers however, is that many car insurers are willing to turn a blind eye to one speeding conviction – around 32% will ignore one discretion at renewal time.

If you do have speeding convictions there is even greater emphasis on you to shop around for cheap car insurance.

By using a comparison tool you will be able to gain an overview of which providers will punish you most harshly for your offences. If you are among the worst offenders, you may find that some insurers will not cover you at all.

So shop around for cheap car insurance, and keep your eye on the speedometer. Thanks to tough car insurance policies, serial speeders will pay in up to four different ways.