Speeding drivers are having to pay more in insurance premiums.

Annual insurance premiums for drivers with points on their licence are now averaging nearly a £1,000 a year, up £180 on the previous years’ figures.

The amounts paid by drivers convicted of speeding are rising due to insurers raising their prices due to an increase in the number of road accident claims during the recession.

Findings by price comparison website moneysupermarket.com have found that the average premium, based on the driver being a 30-year old male teacher driving a Ford Focus, is £546, which rises to £623 if he has three points on his licence and £958 if he has nine points.

Steve Sweeney, head of motor insurance at moneysupermarket.com said: “Speeding increases accident rates so it’s hardly surprising insurers view a conviction dimly.

Serial speeders are worse off year on year and have to fork out nearly £200 more on average for their insurance premiums compared to last year. This is the harsh reality facing anyone who has multiple points on their licence.”

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