Penalty points will not affect insurance premiums

Over the years motorists in the UK have seen their insurance premiums shoot up for the smallest misdemeanour, but there is some good news on the horizon for those that have been clocking up points through speeding. Insurance companies are now stating that penalty points that have been accrued through speeding will no longer affect the cost of vehicle insurance premiums, as insurance companies no longer see speeding as a sign that the driver is a greater risk on the road.

According to officials from insurance companies, speeding has now become too common to be construed as a sign of being a driver that is a greater risk on the roads. With so many people accruing points through speeding, insurance companies state that there is little point in increasing premiums for this group any longer. As a result of this move some drivers could see their insurance premiums start to fall after seeing them rise due to points accrued through speeding.

According to a spokesperson from Swinton Insurance, one of the UK's leading insurance companies: '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.'

Swinton Insurance has taken the lead on this move, having already announced that drivers with speeding related penalty points will no longer have to pay increased premiums. Other insurance companies are expected to follow very quickly, which means that drivers that could have once seen their premiums rise to up to four time the standard cost will now be treated the same as drivers with no points at all.