UK Money News
22nd January 2008
Speeders 'face money trouble'
Motorists could find themselves in trouble with debt if they are caught speeding according to new research from moneysupermarket.com, which suggests that insurance providers punish repeat offenders with inflated premiums for up to five years.
The independent price comparison site warned that, beyond the risk of accident, fines and licence points, people caught speeding twice would see their premiums increase by 25 per cent, while a six-month ban for speeding would see renewals rocket by 50 per cent, on average.
Peter Gerrard, head of insurance research at the site, said: "Speeding does increase accident rates so it's hardly surprising that insurers view it dimly.
"If you lose your licence speeding, you will have the expense and inconvenience of then when you return behind the wheel you will be hit with greatly increased premiums for up to five years."
However, the research also revealed that many insurers are forgiving of a single speeding conviction, with 32 per cent keeping premiums level during policy renewals in such cases.
Research by Sainsbury's Bank last year into the bad driving habits of British motorists found that 17 per cent make themselves guilty of "excessive speeding".
back to January's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
