Could Speeding Motorists Impact On Car Insurance Premiums?

Admiral Car Insurance recently carried out a survey of 3,000 motorists and revealed some concerning statistics.

car insurance premiums could be affected by cars exceeding speed limits In excess of three quarters of drivers in the UK admit that they exceed the speed limit and a quarter are of the opinion that exceeding the speed limit is an acceptable course of action.

Delving further into these statistics revealed that there was a different attitude to speeding between both sexes. Just short of three quarters (73%) of women compared to just over four out of five (82%) of men admitted that they exceeded speed limits. Just over twice as many males (36%) as females (17%) felt that it was fine to exceed speed limits.

Admiral’s Managing Director, Dave Halliday, stated, “Our statistics show a worrying trend where people view a speed limit as simply a guide rather than a speed that’s appropriate for that road. It’s also concerning to see the different attitude between the genders, particularly the huge number of men who admit to driving over the speed limit and those who believe it’s acceptable.

“It also appears that young motorists could do with some re-education, as so many thinking that speeding is acceptable is not a good sign.”

When Admiral Car Insurance asked drivers for their opinion on what the motorway speed limit should be 55% felt that the limit should be increased to 80mph and 14% felt that the limit should be more than that.

Interestingly, when asked what the speed limit should be in residential areas, 56% felt that the limit should be 30mph and 40% felt the limit should be 20mph.

Surely, if drivers kept within the speed limits at all times there would be less accidents on the roads resulting in fewer car insurance claims being made that, potentially, could see premiums come down. Conversely, if speed limits were to increase will there be an increase in accidents resulting in an increase in car insurance premiums?

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