Speeding will no longer mean higher insurance premiums
June 18, 2007
Insurance companies have surprised drivers all around the UK by stating that speeding will no longer be looked upon as a high risk offence, which means that those clocking up penalty points as a result of speeding will no longer have to pay increased premiums.
In the past vehicle insurance premiums could be up to four times as much for those with penalty points that were accrued through speeding, but this will no loner be the case.
Speeding points have become increasingly common over the years, and it has reached the point where insurers are now saying that this type of driving offence is so common that it is no longer viable to class speeding drivers as a danger on the road. And as a result of this insurers are now saying that the cost of insurance premiums for those with speeding points will now start to come down.
The first insurance company to bring down the cost of vehicle insurance for those with speeding penalty points is one of the UK’s leading insurance companies, Swinton.
One official from the company stated: ‘Penalty points used to be the yardstick for dangerous drivers, but with up to 10million drivers collecting them, they are so common place that they have almost become pointless. We will be looking at each driver as an individual and not automatically upping the cost of their premium if they have six penalty points on their license.’
Experts in the insurance industry state that this means those with penalty points resulting from speeding will be treated the same as those with no points at all. Other insurance companies in the UK are expected to follow Swinton’s lead in the imminent future.
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