Slow down to cut your car insurance

We all know the dangers of speeding on Britain’s roads. Not only could it lead to a potentially fatal accident, but if you’re caught in the act you can expect to be stung with a £60 fine and three points on your licence. Now however, there’s yet another reason to keep within the law – cheaper car insurance.

Speeding convictions are on the rise across the UK and car insurance companies are reacting with a series of penalties – two speeding convictions will typically hike premiums in the region of 25 per cent, while some insurers, such as Endsleigh, have been known to increase premiums by 74 per cent for repeat offenders.

The rises are difficult to argue with – the more you speed, the more likely you are to have an accident, which in turn would lead to a pay out from the insurer. Increased costs for them mean increased costs for you.

So what can you do to keep your speed in check and therefore keep your car insurance premiums low?

Cut your car insurance: drive safely

The most obvious step to avoiding speeding penalties on your premiums is straightforward: don’t speed!

If you have a serious accident as a result of speeding behind the wheel, the fines could be astronomical and could even lead to criminal convictions. You could also be banned from driving, which will leave you with the inconvenience of paying for and travelling by public transport, assuming suitable facilities are available in your area.

Furthermore, following a driving ban, you’re likely to face increased car insurance premiums for around five years. So the next time you’re tempted to race down the road to save a few seconds, ask yourself if the risks are truly worthwhile?

Cut your car insurance: don’t get caught

It may not be ethical but there are now many devices, such as satellite navigation systems, which will detect speed cameras so drivers can avoid getting caught.

Certainly it helps to know what to look for to avoid convictions. In the UK there are currently four different types of speed cameras in use (there are additional variants across Europe). Let’s take a look at each one:

• Gatso

The most common form of speed camera in the UK, this is a brightly colored yellow box with a lens and flash window mounted on a box. They are often situated on central reservations so they can record traffic traveling in both directions. Look for white lines on the road – a Gatso takes two flash-lit stills half a second apart to prove your speed.

• Specs

Most commonly found on stretches of roadworks to create a speed-controlled network, these are mounted high on a pole and use number plate scanning technology before working out the average speed between fixed points.

• Truvelo

Similar to the Gatso in looks, but it faces forward and has two apertures. It utilises electrical sensors that are embedded in the road to calculate the speed of a vehicle.

• Red Speed

Found at traffic light junctions, these use digital technology to make sure you comply with red lights and also to ensure you stay within the speed limit during amber and green signals.

Cut your car insurance: enhance your driving

While car insurance companies do take a dim view of speeding motorists, there is money to be saved if you prove you’re a law-abiding driver.

For example, most car insurance companies offer a no-claims discount to drivers – allowing you to earn premium reductions year on year based on staying accident free. Providers will also reward you based on the car you drive. So if you drive a car with few moderations and with a smaller engine, chances are you will pay less.

Another way to secure cheap car insurance is to take an advanced driver’s course, such as a Pass Plus. Earning an advanced driving qualification can slash premiums by as much as 35 per cent – which means the savings you will make will pay for the price of most courses within the first year.

The further good news for drivers is that most car insurance companies are willing to overlook one speeding offense. Indeed around 32 per cent of car insurance providers in the UK will not charge you extra for one speeding charge at renewal time.

If your car insurance provider has penalized you, my advice is to shop around for cheap car insurance using a price comparison tool and see if you could save money by obtaining a quote from a different insurer.