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A speeding conviction can add £72 to your annual premium

Written by: Emma Lunn
A “SP” endorsement on your driving licence could see your car insurance premium rise by an average of 14 per cent, according to MoneySupermarket.

The price comparison site analysed Department of Transport data and found that Sunday is the most common day of the week for speeding, with drivers most likely to exceed the limit in the early hours of the morning.

By comparison, drivers are most likely to abide by the law on a Wednesday, when less than half (47 per cent) exceed the limit.

In terms of the time of day, motorists are most likely to exceed the speed limit during the early hours of the morning, with 63 per cent doing so between 4am and 5am when the roads are clearer. Conversely, between 3pm and 5pm is the time when speed limits are most likely to be obeyed.

MoneySupermarket examined insurance enquiry data and found that fewer than one in 10 drivers (8 per cent) declare a speeding conviction when making an enquiry.

One in 10 drivers from Yorkshire and the Humber declare a speeding conviction, compared to just one in 20 of drivers based in London or Northern Ireland.

It found that those with a prior speeding conviction could see their annual insurance premiums rise by 14 per cent (an average of £72).

The study also analysed drivers’ reasons for speeding, with most saying they simply were not paying attention to their speed (42 per cent). In addition, four in 10 (40 per cent) drivers say they were running late, while 17 per cent did it out of habit.

Rachel Wait, consumer affairs spokesperson at MoneySuperMarket, said: “Our findings suggest that drivers are looking to take advantage of emptier roads on weekends and in the early hours, but it is important to remember that there are still major safety rules to abide by, no matter what time it is.

“If you are caught speeding and want to keep your insurance costs down, it’s worth seeing whether you can take part in a speed awareness course, which means you won’t get points on your licence and provides a helpful reminder about speeding limits and the importance of driving safely. Another option is to install a telematics ‘black box’ in your car, which monitors your driving and can bring your premiums down after a period of time, as long as you’re consistently showing a safe level of driving.

“Regardless of your circumstances, or speeding convictions, it’s important to always shop around for car insurance and not let your policy auto-renew. There are substantial savings to be made – up to £245 in some cases – so it’s worth taking the time to do your research and find the right policy for your needs.”

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