Breaking: drivers could be paying an additional £291 MILLION for car insurance due to speeding convictions
New data shows on average, car insurance premiums rise 23% for those with a speeding conviction
With new reports revealing an increase in the number of speeding penalty points issued, from 2.3 million in 2021 to 9.6 million in 2024,* the car insurance experts at Go.Compare can reveal this is likely to have a huge knock-on effect on the nation’s car insurance premiums.
New data from Go.Compare car insurance reveals that the average car premium for a driver with no speeding convictions is £391, while those who do have a speeding conviction on record pay almost a quarter more on average (23%) at £482.**
The recent increase in speeding points issued, combined with the higher price of insurance those who have been caught are likely to pay, means that convicted UK drivers could be coughing up an extra £291 million overall to insure their vehicles.***
Tom Banks, Go.Compare car insurance spokesperson, commented: “There are many reasons drivers shouldn’t exceed the speed limit - with safety being a top priority. Speed limits are set for a very good reason, and take into account a number of factors, such as road size and condition, visibility, and how populated the area is.
“That being said, it’s a known fact that many drivers struggle to stay within the speed limits - as we can see by the number of penalty points that were issued last year.
“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.
“It’s also worth bearing in mind that if you are involved in an accident and proven to have been speeding at the time, this could have an effect on your car insurance claim - with insurers likely to argue you were at fault.
“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.”
Learn more about speeding fines with Go.Compare’s speeding fine calculator: https://www.gocompare.com/motoring/guides/speeding-fines/.
Contact Information
Rosie Johns
Notes to editors
*Source: https://www.thetimes.com/uk/transport/article/rapid-rise-penalty-points-speeding-insurance-3h77x6s8x
**Based on the median premium of car insurance sales made through Go.Compare between 1 January 2025 and 31 August 2025 inclusive, for All policy types and payment type 'Annually', broken down by whether the main driver had speeding convictions versus no convictions.
***This figure has been calculated based on the median premium of car insurance sales made through Go.Compare between 1 January 2025 and 31 August 2025 inclusive, for All policy types and payment type 'Annually', broken down by whether the main driver had speeding convictions versus no convictions, together with the Driver and Vehicle Licensing Agency data stating there were 9.6 million speeding penalty points issued in 2024, and taking into account the average penalty for a speeding conviction is 3 points (equating to an average of 3.2 million individual speeding convictions in 2024). This 3.2 million figure has been multiplied by the average increase in car insurance premiums for those with a speeding conviction (£91) to give a total of £291,200,000.
For further information please contact:
Lynsey Walden – lynsey.walden@gocompare.com
Kath Chadwick – kathryn.chadwick@gocompare.com
Keep up to date with Go.Compare on Twitter: @GoCompare or you can call 02920 020360
About Go.Compare
Go.Compare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.
It does not charge people to use its services and does not accept advertising or sponsored listings, so all product comparisons are unbiased. Go.Compare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.
When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. It is this approach to comparing products that secured the company an invitation to join the British Insurance Brokers’ Association (BIBA) in 2008, and it is still the only comparison site to be a member of this organisation.
Go.Compare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest and works with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.
Go.Compare is part of Future Plc and is authorised and regulated by the Financial Conduct Authority (FCA).
More information can be found here www.gocompare.com or here https://www.futureplc.com/brands/.