Does a First Time Speeding Ticket Affect Insurance?

Insurance companies look at various factors before setting premiums for drivers. If you commit a motor offence, like speeding, your insurance might go up.

But, does a first time speeding ticket affect insurance?

Read to find out!

Does a First Time Speeding Ticket Affect Insurance?

A first-time speeding ticket may and may not affect the cost of your insurance – it all depends on your insurance company.

A speeding offence will likely bump up your insurance premium because insurance providers base their pricing on claims statistics. If you committed a motoring offence in the past 5 years, insurers will see it as a risk and probably charge you more for the insurance. 

Still, some insurance companies may be willing to ‘forgive’ minor motoring offences.

What Are The Different Types of Speeding Offences and How Many Penalty Points Do They Carry?

The minimum number of penalty points you can receive for speeding is 3.

Depending on the type and the severity of the offence, you might get more penalty points added to your licence. The maximum amount of penalty points for a speeding offence is 6.

Code	Offence	Penalty    points
SP10	Exceeding goods vehicle speed limits	3-6
SP20	Exceeding speed limit for the type of vehicle (excluding goods or passenger vehicles)	3-6
SP30	Exceeding statutory speed limit on a public road	3-6
SP40	Exceeding passenger vehicle speed limit	3-6
SP50	Exceeding speed limit on a motorway	3-6

How Much Will I Be Fined for Speeding?

The minimum fine for exceeding the speed limit is £100 (in addition to the penalty points).

The amount you’re fined depends on how much over the speed limit you were driving and your weekly income. So knowing the speed limit for each type of vehicle, even for vans, is crucial.

The maximum fine for speeding is £1,000 (£2,500 if you were driving on a motorway).

If you’re prosecuted for speeding, you’ll be put into one of the six bands (A-F), based on how fast you were driving. The band determines how many points you’ll get on your licence and how much you’ll have to pay for the fine.

Band	Recorded speed	Penalty points	Fine
Band A	1-9mph over the legal limit	3	25-75% of weekly income
Band B	11-20mph over the legal limit	4-6	75-125% of weekly income
Band C	21mph and more overt the legal limit	6	125-175% of weekly income
Band D,E,F	Other factors (ex. Offences committed on bail)	/	200-700% of weekly income

Did you know: You may be offered to attend a speeding awareness course to avoid the fine and the penalty points. Police will give you that option only if they believe that it’s appropriate for the offence and if you haven’t been to a course in the last 3 years. Here’s how much a speeding awareness course costs.

How Much Does Your Insurance Go Up After a Speeding Ticket?

The amount mainly depends on the type of conviction and the driver’s age. 

A speeding conviction on a public road (an SP30 speeding offence) can add about £36 a year to your premiums. Motorway convictions (an SP50 driving offence) might add an average of £101 to your insurance bill, according to market research company Consumer Intelligence.

Insurance costs with and without speeding convictions

Type of driver	No convictions	Any speeding conviction	SP 30 convictions	SP 50 convictions
All drivers	£693	£743	£729	£794
Under 50s	£795	£840	£836	£865
Over 50s	£469	£527	£483	£635

How to Lower Insurance After a Speeding Ticket?

There are several ways you can try to reduce your insurance premiums in case the points on your licence increase your insurance. 

• Telematics: Also known as GPS car insurance or ‘black box’ car insurance, installing a telematics device helps insurance companies monitor the insured’s driving to calculate your insurance rate. The device tracks things like acceleration, speed, and braking, among other things.

• Excess: One way to lower your premiums is to increase your voluntary excess on your insurance. Before you do, make sure you understand how excess on car insurance works and whether it’s a good idea to increase it. 

• Mileage: Low mileage means that you drive less, and the less you drive, the smaller the chance that you can get involved in an accident. If you agree to keep your mileage under a certain number, your insurance provider will offer lower premiums. 

• Security: Fitting your car with extra security devices like alarms and immobilisers. However, you’ll need to contact your insurance provider and ensure they recognise the devices you plan to buy.

How Will I Know If I’ve Been Caught By a Speed Camera?

There’s only one way to know for certain that you’ve been nabbed by a speed camera, and that’s the appearance of a notice in the post. 

You’ll receive two notices on your address within 14 days, including: 

• a Notice of Intended Prosecution( NIP)
• a section 172 notice

You’ll have 28 days to fill in the details in the section 172 notice and send it back, after which you’ll be sent a Fixed Penalty Notice( FPN). 

If you don’t respond to the notice, you’ll have to go to court.

What Happens If You Get a Fixed Penalty Notice?

That depends on how you plead. 

If you plead guilty, you’ll receive a £100 fine and have 3 points added to your licence. These 3 points on your licence can increase your insurance and stay on your record for a minimum of 4 years unless you’re offered to attend a speed awareness course. 

If you plead not guilty, your case will be referred to court. If you’re found guilty, you could end up paying a bigger fine and have more points added to your licence. You could also get disqualified from driving or have your licence suspended.

Bottom Line

A speeding offence is considered a ‘surchargeable’ incident, meaning it’s an event that can raise your insurance premiums. Some insurance providers may consider ‘forgiving’ a minor traffic violation, especially if it’s a first-time offence. Others may apply the ‘surcharge’ until the points disappear from your record but reduce the amount for each year you go without an incident.