Penalties for speed camera detections are costing drivers long after the points have been removed from their licences, because insurers still use them for five years after the points were added – despite them only being active for three years on the licence – Confused.com has found.
Drivers under the age of 21 who have six points can expect their premiums to double, with nine points (or three flashes in three years) causing the premium to be two and a half times greater than the equivalent with a clean licence. Even middle aged drivers can be paying a good deal more – a 55 year old female with six points driving a 3.0 litre BMW MX5 would have her premium hiked by 80 per cent, whereas a 55 year old male driver could expect his premium to rise by 49 per cent extra.
Carlton Hood, chief executive officer of Confused.com, said: "As well as suffering from additional insurance costs immediately after gaining points on a licence, motorists are often asked by insurance companies whether they have received points in the last five years.
"If the answer is yes, insurance premiums remain high long after the points have expired. While speeding is a tempting option for some, we would advise our customers to think carefully before making poor driving decisions. Saving two minutes on your journey time by skipping a red light or driving over the speed limit not only endangers yourself and others around you, but you are risking a large fine, a tarnished licence and potentially higher insurance premiums."
Drivers facing fuel cost rises as well as increasing depreciation in the value of their vehicles regarded as less environmentally-friendly with regard to CO2 emissions may well be unhappy to find out exactly how much extra they are paying.