Motor insurance news
31/01/2008

Cheap car insurance may survive a speeding conviction

A first speeding offence may only make a small increase in a cheap car insurance premium, according to the chief insurance researcher at moneysupermarket.com. But motor insurance costs are likely to rise rapidly for a UK driver with two or more convictions.

A motorist who receives a driving ban for speeding may see their car insurance premiums increase by 50% or more, depending on the policy.

Peter Gerrard, head of insurance research at the car insurance comparison site, says, "If you lose your licence speeding, then when you return behind the wheel you will be hit with greatly increased premiums for up to five years."

Drivers who are convicted of speeding must inform their car insurance company by law, and the estimate of those who have points on their licences affecting their cheap car insurance is approximately 2.5 million.

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