Car insurance news
“LicenceGuard” - a motor insurance product for banned drivers
An unusual motor insurance product has been launched in the wake of a Churchill Car Insurance study that has found that 4 million people exceed the speed limit every time they get behind the wheel.
The product, known as LicenceGuard, is aimed at people who regularly speed and get caught so many times that they not only lose their cheap motor insurance premium, but their driving licence too.
The creators of LicenceGuard understand that many people would need to travel by public transport or other paid-for services if they are no longer allowed to drive. If a driver with this insurance is banned from driving following several speeding convictions, they can claim back their travelling costs through the controversial insurance on a monthly basis.
With millions of people breaking the speed limit and hundreds of thousands getting caught by speed cameras, number plate recognition cameras and police, there could be a great deal of interest in the service.
The cost of speeding is high. Drivers who speed have to pay increased motor insurance costs and on-the-spot fines, and this insurance product is one more cost for drivers who speed.