Millions of drivers warned to avoid making three mistakes or risk adding £120 to their car insurance policy
MILLIONS of drivers have been warned about adding £120 to their car insurance policy with three crucial mistakes.
With car insurance costs already on the rise, the last thing you want to do is give companies extra reason to hike their prices up.
Under the current car insurance rules, you must make it clear whether you have any fixed penalty notices or penalty points on your licence before renewing your policy.
You must also inform your insurer if you received any motoring convictions during the current the policy term, including for speeding.
Recent research from the price comparison site Go Compare revealed that drivers with no speeding offences on their policy pay around £390 for comprehensive cover, compared to £511 for those with a speeding violation, the Mirror report.
This also increases by an extra £153 for those who have multiple offences on their policy, leading to a median renewal price of £664.
Go Compare claims that over 97,000 policies bought through their site last year included a speeding offence – a 1.71 per cent increase on the previous year.
This is still a four per cent decline from 2020, however, when the number was over 101,000.
Data shows that motorists in London (4,047), Bristol (1,637) and Birmingham (1,369) admitted to the most speeding penalties on their policies.
London’s introduction of 20mph speed zones four years ago is thought to have had a big impact on numbers in the capital.
Nonetheless, drivers in England and Wales spend at least £84.4million on speeding fines every year.
This estimate is based on the minimum speeding penalty of £100, along with Home Office figures on the number of fines paid in 2022.
Go Compare, however, says the true figure that was paid is likely even larger due to more severe offences resulting in bigger fines.
Tom Banks, a car insurance expert at Go Compare, believes it is appropriate to have strict penalties for speeding due to it being one of the “biggest safety risks” on the road.
He said: “Getting caught can have a serious impact on your wallet, as you’ll suffer a fine and the knock-on effect of higher insurance prices.
“With this in mind, it’s shocking to see that so many drivers are still taking the risk, with a collective fortune being lost as a result.
“Millions are being chucked down the drain due to exceeding speed limits, so it’s clear that many motorists need to exercise more caution when travelling.”
Banks advised motorists to report dangerous drivers to the police “as soon as it’s safe to do so” by pulling over and dialling 999.
“It’s also important to avoid straying over the limit yourself so that you don’t put the safety of yourself and others at risk,” he added.
Elsewhere, thousands of drivers face losing their car insurance or paying much more on their premium over a £20 accessory.
Depending on what you do, modifications to your car can affect your car insurance positively or negatively.
It comes as new analysis shows British motorists are being ripped off to the tune of £157.
Earlier this week, MPs warned that greedy car insurance firms are being given the green light to swindle motorists.
Five car modifications you need to tell your insurer about
WHEN applying for car insurance you need to inform the insurer about your motor in as much detail as possible.
That’s so if you ever need to make a claim they can’t reject you on a technicality.
Here are five common modifications that people make to their car which you need to tell the insurer about.
1. Tinted windows
Many drivers do not realise that tinted windows can cause problems.
Tinting that restricts more than 70 per cent of light will void your insurance.
If it obstructs the driver’s view it can even result in a whopping fine of up to £1000.
2. Exhaust upgrades
While improving exhaust systems relieves more engine pressure, having bigger and louder exhausts can increase premiums.
3. Alloy wheels
Alloy wheels are seen as better than standard steel wheels, but if there is a history of alloy wheel theft in your area, this can increase your insurance premiums.
4. Bodywork
Adding upgrades including spoilers and flared wings as well as body kits can dramatically increase premiums. This is because they can be seen as unsafe in crashes as they break easily.
5. Reupholstery
This is something that may be surprising – but reupholstering or replacing the seats with ones that are different from the original can increase premiums depending on your policy.