British drivers face 'significantly more expensive' car insurance prices - 'Think twice!'

The number of penalty points issued for speeding has soared from 2.3 million in 2021 to 9.6 million just three years later.

The average car insurance price for someone without any speeding convictions is just £391, a far cry from record prices seen in recent years.

In comparison, people with speeding convictions pay almost a quarter more than those without, at an average cost of £482.

In total, drivers who have been caught speeding could end up paying an extra £291million to insure their vehicles.

The minimum penalty for speeding is a £100 fine and three penalty points, which can have a dramatic impact on their finances.

If a driver accrues 12 or more penalty points on their licence within a three-year period, they will be disqualified from driving.

For drivers who have recently passed their test, they could be taken off the road if they receive six or more points within two years of getting their licence.

If a driver is slapped with a fixed penalty notice, they will face a £100 fine and three points, or they could be offered the chance to attend a speed awareness course.

This could be the course of action for motorists if the police believe it would be appropriate for the offence and they haven't been on a speed awareness course in the last three years.

In the event that someone pleads not guilty, they will have to attend court, where they could be fined more and receive more points if they are found guilty.

LATEST DEVELOPMENTS:

• BYD recalls 115,000 electric cars as Chinese auto giant warns of battery and design concerns
• Labour provides major update on elderly driver restrictions amid plans to launch mandatory eye tests
• Cardiff votes to hike parking costs for SUVs and larger vehicles as drivers face 'Land Rover tax'

Sentencing guidelines state that a fine will be issued based on the speed limit and how much they exceeded it by.

Typically, it is a percentage of their weekly income, up to £1,000 or £2,500 when travelling on the motorway.

Road users could also be disqualified from driving or have their licence suspended if they are found guilty of speeding.

Tom Banks, car insurance spokesperson at Go.Compare, said drivers should always follow the speed limit, with the restrictions being in place for a reason.

He continued, saying: "Our data shows that when you're caught speeding, your car insurance is likely to become significantly more expensive - and this is yet another reason why motorists should think twice before putting their foot on the accelerator.

"No one wants to be caught speeding, and the convictions themselves can be expensive. It's not worth the risk - to you, to others on the road, and to your bank balance as well."

The expert also highlighted how the consequences can be far more severe in the event that they are involved in an accident when speeding.

Mr Banks said this can lead to a huge impact on their car insurance claim, especially if insurers argue that they were at fault.