Insurance renewal with 3 penalty points???

[Manofkent]

My insurance will be due next week. During the last year I had a speeding ticket with a fine of £60 and three penalty points. (Mobile camera!)
I know that they must be informed, but will the cost go up much?
Perhaps there is a company who will treat me kind??
Thanks for guidance.
J
04 C270 est

 

[television]

Was it an SP50

 

[Manofkent]

Sorry Malcolm SP50 means nothing to me!
J
04 C270 est

 

[television]

Speeding on the motorway is an SP50 and the cheapest one insurance wise

 

[Manofkent]

Not on motorway but on dual carriageway, limit 40 & I was doing 49pmh
Not a black spot but a good little earner!!!!
J
04 c270 est

 

[television]

It may be a SP40,, but yours is one of the least penalties, speeding in a built up area is the worst. It will be on the green paper that belongs to you licence and the insurance company will ask what one you have

 

[Retired]

My insurance will be due next week. During the last year I had a speeding ticket with a fine of £60 and three penalty points. (Mobile camera!)
I know that they must be informed, but will the cost go up much?
Perhaps there is a company who will treat me kind??
Thanks for guidance.
J
04 C270 est

I'm sure this will vary from company to company but I know of at least a couple which don't take any notice of one SP30, £60 and 3points conviction as this is commonplace and not considered indicative of an enhanced risk. NFU is one such company and I need to discuss with a colleague to be reminded of the other one.

It sounds as though you haven't informed your company, you should do that when you receive the penalty and not wait until renewal. Insurance companies love an excuse to try to wriggle out of a claim.

If it's renewal time a few minutes spent with confused.com and comparethemarket.com can provide some useful comparisons.

Cheapest isn't always best, important to think about the cover you actually need; things like EU cover, replacement vehicle, legal cover, excess, business use, protected ncb etc.

 

[SQ_W211]

I had SP60 and 6 points and the insurance didnt go up too much so i guess it depends on other aspects like age, car no claim bonus etc

 

[brandwooddixon]

Most insurance companies don't load the insurance for 3 points for speeding (especially SP50 - motorway) as long as no court appearance was required.

I collected 3 points in February (SP50) and my insurance has actually dropped since last year and that is with Zurich! I think that some of that is due to the current economic climate and the amount of competition.

Saying that when I had 8 points (for speeding on motorways) I don't recollect the insurance increasing all that much.

Now if you turned around and quoted points for dangerous driving then that would be a different matter!

 

[Miffy]

2 years ago I had 3 points £60 fine for a parking offence, 10:30pm part of my car was over the white zigzag lines. My insurance went up by £100

 

[coxyhog]

In 2000 I got 3 points for motorway speeding that brought my total to 6.
Informed my insurance company,the lady said wait while I check but I don't think it'll make any difference.
Came back & said I'm sorry but we're cancelling your insurance.
Car was a BMW 328 Sport less than a year old & I had full no claims.

 

[Alex M Grieve]

2 years ago I had 3 points £60 fine for a parking offence, 10:30pm part of my car was over the white zigzag lines. My insurance went up by £100

Sadly Mark, this is the nature of the beast.

Insurance people will tell you that the premium is decided on the assessment of the risk you pose. My experience, both in motoring and commercial insurance is that the initial premium is a guess and that the provision of further information to reassure them of how well the risk is managed has no impact in reducing the premium.

Conversely, as in your case, any negative, no matter how tangential to the whole business, is grounds for an increase!

 

[Retired]

In 2000 I got 3 points for motorway speeding that brought my total to 6.
Informed my insurance company,the lady said wait while I check but I don't think it'll make any difference.
Came back & said I'm sorry but we're cancelling your insurance.
Car was a BMW 328 Sport less than a year old & I had full no claims.

As previously mentioned it varies from company to company.

Having said that, I think that things might have changed since 2000. Such a large proportion of drivers now have three speeding points that it's considered pretty normal by some companies and not an indication the the driver is more of a risk

Anyone know what the proportion of licence holdders with 3 points is? saw a figure somewhere but can't recall where.

 

[Rappey69]

I have 3 points so there another to add to your list.
I use 3 different insurers, for quad, bike and car and each one of them told me no increase for sp60 (46mph in 30 limit in town). hit 6 point for same offence and it may go up.

 

[cleverdicky]

I got a good job once based on having a few points. Not too many though, just enough for the boss to think I 'made an effort' : )

 

[Dosco]

Hi MOK I picked up an SP30 in Dec 2006 my insurance company lobbed on an extra £10 for my 2007/08 Insurance, the 08/09 also carried a similar amount. Changed insurer this year, this month in fact and they claim not to add on anything for an SP30 offense. Do not forget to inform though, cos if you do and have an accident they will not pay out, as my neighbour found out to his cost!

 

[Alex M Grieve]

Hi MOK I picked up an SP30 in Dec 2006 my insurance company lobbed on an extra £10 for my 2007/08 Insurance, the 08/09 also carried a similar amount. Changed insurer this year, this month in fact and they claim not to add on anything for an SP30 offense. Do not forget to inform though, cos if you do and have an accident they will not pay out, as my neighbour found out to his cost!

At renewal, it is hard to say if a premium has been "loaded" or not. The insurer will suggest their "best premium" (for whom?) then tinker with it (excess, windscreen cover, roadside assistance, legal support), against which there will be a "discount" for no claims, higher excess accepted, mileage restriction, named drivers and their record, etc.

So, who can tell?

It is a bit like banks saying that they do not charge their premium customers commission on foreign currency purchase. As the bank sets the conversion rate, they don't need to!