Serial Speeders Drive Their Way to Sky High Insurance Premiums

Serial Speeders Could See Their Insurance Premiums Double, Warns moneysupermarket.com

CHESTER, England, March 28, 2011 - Motorists convicted of speeding could see the cost of their
motor insurance premiums rocket by 54 per cent1 according to research by
moneysupermarket.com (www.moneysupermarket.com/).

Britain's number one comparison site found there is a huge
difference to the cost of insurance premiums for those with speeding
convictions compared to those without. A driver with a speeding conviction
and six points on their license could pay 19 per cent more on average than
someone with a clean license. Those who repeatedly flout speed laws will find
themselves bearing the brunt of even heftier increases in premiums, with a
staggering 54 per cent potential increase for those with 9 points on their
license.

Peter Harrison, car insurance expert at moneysupermarket.com
(www.moneysupermarket.com/car-insurance/) said: "Insurers clearly take
a dim view on policy holders who speed and this is reflected in higher car
insurance prices. Even going just above the speed limit can add huge
additional costs to your car insurance, and for repeat offenders, some
insurers may even refuse to cover you, so motorists should take extra care to
ensure they stick to the speed restrictions.

"We have witnessed sharp increases to the cost of car
insurance premiums recently. moneysupermarket.com research found premiums
rose by 44 pence per day in 2010 on average2, and this trend is set to
continue, especially with the recent ECJ ruling on the legality of using
gender to calculate insurance premiums. Not only are motorists who flout the
law by speeding risking the lives of other road users and pedestrians as well
as their own, they also run the risk of adding to the existing headache of
sky high car insurance premiums.

"My advice to motorists concerned by the cost of their car
insurance is to always scour the market for the best deal for your
circumstances."

Top tips for reducing the cost of car insurance:

- Shop around - This is one of the easiest ways to save money.
Don't assume that your current provider is giving you the best renewal quote;
look at other insurers using the moneysupermarket.com car insurance
comparison tool (www.moneysupermarket.com/car-insurance/) and see if
you can save.

- Buy online - Many car insurers offer discounts to customers
that buy online.

- Reduce your mileage - When applying for insurance, you
estimate the number of miles you'll do each year. If you aren't travelling
much then you'll usually pay less. That means that if you car share with a
colleague or decide to take the train a couple of times a week, you can bring
down the price.

- Keep it safe - Insurers look at the risk every driver
presents, so you'll get a better deal if you can reduce that risk. By keeping
the car off the road at night in a garage or on a drive you make it safer,
meaning your premiums will come down.

- Car security - Make sure you have an alarm and immobiliser.

- Drive a car with a smaller engine - If you're struggling to
pay your insurance then give some thought to the car you're driving. The
bigger and faster the vehicle, the more it will cost to insure.

- Up the excess - Agreeing to pay a higher excess, such as
GBP500 instead of GBP100, can reduce your premiums. Don't forget that this is
what you will need to pay in the event of a claim, so be sure you can afford
it.

- Add an older driver - If you have a partner or parent who is
more experienced behind the wheel, adding them to the policy can sometimes
reduce what you pay. Whatever you do, don't make them the named driver,
though. This is called fronting and could invalidate your insurance.

- Ensure it's adequate - As you look for the lowest price,
don't be tempted to scrap things you really need. It might cost more to have
a courtesy car or legal fees paid, but if you need it then include it.
Skipping extras that you can't do without will be a false economy if you do
need to claim.

Notes to Editors:

1) Example of insurance premium charges for speeding based on top 5
quotes returned for each scenario:

30 year old male teacher in Manchester driving a 2006 Ford Focus, 10,000
miles a year with 5 years NCD. Parked on driveway.

     Provider     Clean    3 points on  6 points  9 points on
                 Licence     licence       on       licence
                                         Licence

    Insurer 1   GBP499.39   GBP550.65   GBP642.87   GBP847.70
    Insurer 2   GBP651.98   GBP641.98   GBP651.98   GBP963.99
    Insurer 3   GBP693.91   GBP693.91   GBP873.80   GBP987.35
    Insurer 4   GBP723.98   GBP808.11   GBP889.94 GBP1,166.17
    Insurer 5   GBP765.62   GBP811.96   GBP894.97 GBP1,168.93
     Average    GBP666.98   GBP701.32   GBP790.71 GBP1,026.83

Sourced by www.moneysupermarket.com 14.03.2011

2) Based on over 3 million car insurance quotes from January 1st 2011 -
February 9th 2011

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    Nicki Parry
    PR Officer
    Tel: +44(0)1244-370-318
    nicola.parry@moneysupermarket.com

    Paul Lawler
    PR Manager (Financial Services)
    +44(0)1244-370317
    paul.lawler@moneysupermarket.com

Nicki Parry, PR Officer, Tel: +44(0)1244-370-318, Mob: +44(0)7872-379-549, nicola.parry at moneysupermarket.com . Paul Lawler, PR Manager (Financial Services), +44(0)1244-370317, paul.lawler at moneysupermarket.com .