28 October 2019 Insurance

More drivers speeding, despite harsher penalties

Speeding offences are on the rise in the UK despite the introduction of harsher financial penalties in 2017, according to research from Churchill Car Insurance.

The number of drivers caught for not obeying speed restrictions increased by 19 percent (189,109) between 2014 and 2018. Last year, speeding cost Britain’s drivers £162.5 million in fines, with the average fine costing £222.

Authorities introduced a new banding system in 2017 for people who were seen to be ‘serious speeding offenders’. The new three band system means fines are now based on weekly income, with the most serious offences potentially costing drivers thousands of pounds.

Across all fine bandings, the average driver can expect to pay a minimum of £96 (25 percent of weekly income) if found guilty of committing a Band A offence with mitigating circumstances and a maximum of £673 for a Band C offence (175 percent of weekly income).

The value of speeding tickets has increased by 24 per cent since 2014 (£179).

This increase, and the introduction of the new banding system does not appear to have been a deterrent for speedy drivers, with nearly 30,000 more drivers proceeded against last year than in 2014 – the equivalent of 16 more every day

Alex Borgnis, head of car Insurance at Churchill, said: “Speeding is one of the biggest causes of accidents on Britain’s roads. Not only is going above the speed limit dangerous for everyone on the road, but motorists also risk landing themselves a substantial fine and points on their licence. Under the new speeding laws, drivers could receive a speeding fine of up to £1,000, rising to £2,500 if caught on a motorway.

“We all lead busy lives often leading us to rush around, but speed limits are put in place for a reason. Motorists should take their responsibility to drive with care seriously, not only for themselves but for all road users.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More insurers refusing cover as California wildfires rage

Aston Lark acquires Protean Risk

Sedgwick appoints new managing directors to drive growth in UK

Self-driving vehicles on public roads change insurance risk

Motorists would choose green replacement part: Allianz

Feature:  10 ways insurers are using insurtech to drive new business

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk