What Price Do You Pay For Motoring Convictions?
The penalties for earning a speeding ticket, being caught with defective tyres, or being cautioned for a traffic light offence may seem fairly innocuous, with these generally incurring a £60 fine and 3 points on the licence.
Analysis undertaken by car insurance comparison website Tiger.co.uk, however, paints a different picture for drivers, showing as it does the longer term financial impact that a driving offence has on car insurance prices.
The analysis looks at a number of different motoring offences, from a speeding penalty and a mobile phone usage violation to drink driving and causing serious injury by dangerous driving. Looking at the effect that each conviction has on car insurance prices, Tiger.co.uk produced the following summary based on an Ipswich-based 30-year old, male, advertising account manager, driving a five year-old Ford Focus:
|Offence||Offence Code||Annual Premium £*||Increase £||Increase %|
|Exceeding speed limit||SP30||478||91||24%|
|Traffic light violation||TS10||480||93||24%|
|Using defective tyres||CU30||480||93||24%|
|Using mobile phone||CU80||480||93||24%|
|Failing to stop after an accident||AC10||801||414||107%|
|Causing serious injury by dangerous driving||DD10||1187||800||207%|
* Based on average of three cheapest prices returned by Tiger.co.uk
The summary report from Tiger.co.uk clearly shows that the cost of driving convictions does not stop with the payment of the fine, which, almost always, is less than the annual uplift in car insurance costs that are incurred.
Furthermore, this rise in insurance costs does not just apply to a single year's premium: Insurers will increase in rates for up to 5 years following the offence and this in turn multiplies what is to many a hidden penalty: the speeding driver exemplified in the table above will pay an extra £520 over this period; the drink driver will pay out over £1,100 more; and the driver causing serious injury (DD10) will be hit by an additional £1,550 in insurance payments during the four years after serving a typical two-year ban.
Commenting on the report, Tiger.co.uk's Commercial Director, Andrew Goulborn, commented: "Everything we focus on at Tiger.co.uk is aimed at saving drivers money, particularly on their car insurance. One of the best ways to do this is, quite simply, to drive within the law and to keep a clean licence".