UK motorists using the motorway could face paying higher car insurance costs, according to new analysis.
Drivers who get a conviction for speeding could add as much as an extra £101 to the annual cost of car insurance, revealed Consumer Intelligence.
The analysis of around 36,000 insurance quotes over the past year to April found the average cost a speeding offence has on your premium.
In addition to the minimum £100 fine and three penalty points for speeding will add on average £50 onto your annual premium.
It found that drivers without any speeding convictions pay an average £693 a year but that jumps to £743 a year with any speeding conviction.
The biggest impact on bills, however, comes from being caught speeding on a motorway – the so-called SP50 offence, which adds £101 a year to bills taking them to £794 a year.
SP30 offences for speeding on a public road adds an average £36 a year to insurance taking it to £729.
Older drivers over the age of 50 face a higher punishment for a speeding conviction.
They could see their annual bill rise by £58 for any speeding convictions but will pay an extra £166 a year for a motorway speeding offence.
Speeding fines in the UK can cost drivers to £2,500 depending on the severity of the offence.
Almost two million fixed penalty notices were issued in 2016, a 32 per cent increase from 2011.
Speeding endorsements remain on driving licences for four years from the date of the offence and insurers ask drivers to declare any motoring convictions within the past five years.
John Blevins, Consumer Intelligence pricing expert said: “Our analysis shows that the cost of speeding is not just the fine but the higher insurance bill.
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“At more than £100 a year for being caught exceeding the limit on a motorway or £50 on a public road, it is substantial considering insurers ask about any convictions in the past five years.
“Insurers understandably take the view that drivers who break the speed limit are potentially a greater risk and as a consequence put up the cost of motor insurance.
"Premiums may be heading down again after years of increases but drivers who break the law will not benefit from any price reductions.”
Reckless driver caught speeding at 155mph on M3
Below shows the average premiums and cost of speeding:
TYPE OF DRIVER: All drivers
- COST WITH NO CONVICTIONS:£693
- COST WITH ANY SPEEDING CONVICTIONS: £743
- COST WITH SP30 CONVICTIONS: £729
- COST WITH SP50 CONVICTIONS: £794
TYPE OF DRIVER: Under-50s
- COST WITH NO CONVICTIONS: £795
- COST WITH ANY SPEEDING CONVICTIONS:£840
- COST WITH SP30 CONVICTIONS:£836
- COST WITH SP50 CONVICTIONS: £865
TYPE OF DRIVER: Over 50s
- COST WITH NO CONVICTIONS:£469
- COST WITH ANY SPEEDING CONVICTIONS:£527
- COST WITH SP30 CONVICTIONS:£483
- COST WITH SP50 CONVICTIONS: £635
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