Car insurance news

Speed cameras threaten cheap car insurance

British drivers are charged a massive £150million every year for breaking the speed limit, recent research by a car insurance firm has revealed.

Swiftcover, working in partnership with business analysts Datamonitor, made the shocking discovery when they combined the cost of speeding fines with the increased motor insurance premiums that result from a licence endorsed with points.

There has been a 328% increase in the last decade in the number of drivers caught speeding, with 2.2million falling victim to speed cameras and police laser guns every single year.

The result of these 2.2million convictions is the issue of £114million worth of fines every twelve months, causing car insurance premiums to rise by another £36million.

Andrew Blowers from Swiftcover said, "The plague of speed cameras on the nation's roads hits the motorist hard in the pocket.

"Getting flashed by a camera is, of course, a double whammy for many as not only are they hit with the fine, but the conviction can lead to an increase in car insurance premiums too."

Speed cameras were first introduced to fixed sites in Britain in 1992, but it was not until 2000 that their numbers started to rise significantly. It is now estimated that there are around 6,000 on UK roads, posing an enormous threat to driver's cheap car insurance.