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  • FIRST POST
    • Habib2342
    • By Habib2342 13th Sep 17, 8:56 PM
    • 66Posts
    • 5Thanks
    Habib2342
    Car Insurance- How to save money on future renewals
    • #1
    • 13th Sep 17, 8:56 PM
    Car Insurance- How to save money on future renewals 13th Sep 17 at 8:56 PM
    Hello,

    Regrettably i recently acquired 6 penalty points after being caught doing 54 mph in a 30 mph zone on my way to work in April. This has been documented at length on this website http://forums.moneysavingexpert.com/showthread.php?p=73074913#post73074913.

    As a result I have had to pay a fine equivalent to a week's gross wages and paid an increased premium to my insurer to reflect the increased risk I now present out there..Needless to say I am now very careful of my motoring usage. Going forward what steps can I take to reduce my future insurance premiums as the points will now stay on my licence for at least another 4 years and insurers will now increase their premiums ?

    thanks,

    habib.
Page 1
    • paddyandstumpy
    • By paddyandstumpy 13th Sep 17, 9:17 PM
    • 784 Posts
    • 323 Thanks
    paddyandstumpy
    • #2
    • 13th Sep 17, 9:17 PM
    • #2
    • 13th Sep 17, 9:17 PM
    Going forward what steps can I take to reduce my future insurance premiums
    Originally posted by Habib2342
    Stop speeding - not adding further points will reduce the price over time.


    as the points will now stay on my licence for at least another 4 years
    Originally posted by Habib2342
    Points will stay on your license for 4 years but most insurers ask (and you're obliged to tell the truth!) for motoring offences in the last 5 years.

    It would be relatively easy for insurers to find out in the 5th year if you have had points in the last 5 years, so I wouldn't avoid disclosing it just because they aren't on your license anymore.
    • Habib2342
    • By Habib2342 13th Sep 17, 9:52 PM
    • 66 Posts
    • 5 Thanks
    Habib2342
    • #3
    • 13th Sep 17, 9:52 PM
    • #3
    • 13th Sep 17, 9:52 PM
    so my insurance levels won't go back to normal until 2022 ?
    • BeenThroughItAll
    • By BeenThroughItAll 13th Sep 17, 10:33 PM
    • 4,406 Posts
    • 3,775 Thanks
    BeenThroughItAll
    • #4
    • 13th Sep 17, 10:33 PM
    • #4
    • 13th Sep 17, 10:33 PM
    so my insurance levels won't go back to normal until 2022 ?
    Originally posted by Habib2342
    Correct. April 2022 to be precise.
    • fiisch
    • By fiisch 13th Sep 17, 10:47 PM
    • 160 Posts
    • 61 Thanks
    fiisch
    • #5
    • 13th Sep 17, 10:47 PM
    • #5
    • 13th Sep 17, 10:47 PM
    The insurance will go down the older the convictions gets - they are at their worst now the points are fresh.

    There is nothing you can do to lessen the perceived insurance risk, other than maybe changing your car to something of a lower insurance grouping.

    Unless you're a young driver and the conviction was an SP30 (I'm assuming it was given it was in a 30mph zone), the number of points you've got doesn't make a dramatic difference, and most insurers accept a single SP30/50 as inevitable on most people's licences (I say this as a former insurance underwriter).

    I don't think you have too much to worry about personally regarding insurance cost, unless you get caught again / the conviction is more serious than an SP30....
    • BeenThroughItAll
    • By BeenThroughItAll 13th Sep 17, 10:53 PM
    • 4,406 Posts
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    BeenThroughItAll
    • #6
    • 13th Sep 17, 10:53 PM
    • #6
    • 13th Sep 17, 10:53 PM
    The insurance will go down the older the convictions gets - they are at their worst now the points are fresh.

    There is nothing you can do to lessen the perceived insurance risk, other than maybe changing your car to something of a lower insurance grouping.

    Unless you're a young driver and the conviction was an SP30 (I'm assuming it was given it was in a 30mph zone), the number of points you've got doesn't make a dramatic difference, and most insurers accept a single SP30/50 as inevitable on most people's licences (I say this as a former insurance underwriter).

    I don't think you have too much to worry about personally regarding insurance cost, unless you get caught again / the conviction is more serious than an SP30....
    Originally posted by fiisch
    You know SP30 in no way implies speeding in a 30MPH limit, right?
    • fiisch
    • By fiisch 13th Sep 17, 10:57 PM
    • 160 Posts
    • 61 Thanks
    fiisch
    • #7
    • 13th Sep 17, 10:57 PM
    • #7
    • 13th Sep 17, 10:57 PM
    You know SP30 in no way implies speeding in a 30MPH limit, right?
    Originally posted by BeenThroughItAll
    Of course I do, I'm ashamed to say I know the conviction codes by heart - an SP30 is any speeding offence not on a motorway, which would be an SP50..... That's pretty much the only speeding codes you see for driving a car (occasionally SP60 which is undefined, but same difference).

    My point was more around if it was something along the lines of a DD40 - dangerous driving - which can be awarded if the speed is excessive or, my personal favourite, DD80 - "Furious Driving"!

    When the DD codes come out, that's where premiums do increase substantially, for obvious reasons.
    • Habib2342
    • By Habib2342 14th Sep 17, 7:55 AM
    • 66 Posts
    • 5 Thanks
    Habib2342
    • #8
    • 14th Sep 17, 7:55 AM
    • #8
    • 14th Sep 17, 7:55 AM
    Am I missing something here because I passed my theory and driving test in 2005 and this is the first time since then I've received a penalty of this magnitude ? Have they reviewed the syllabus where students have to learn the offence codes and speeding fines because I can't recall this being in the syllabus back then ?
    • BeenThroughItAll
    • By BeenThroughItAll 14th Sep 17, 7:59 AM
    • 4,406 Posts
    • 3,775 Thanks
    BeenThroughItAll
    • #9
    • 14th Sep 17, 7:59 AM
    • #9
    • 14th Sep 17, 7:59 AM
    Am I missing something here because I passed my theory and driving test in 2005 and this is the first time since then I've received a penalty of this magnitude ? Have they reviewed the syllabus where students have to learn the offence codes and speeding fines because I can't recall this being in the syllabus back then ?
    Originally posted by Habib2342
    Where has anyone suggested that?

    Your main problem is that you are indignant about getting caught at almost double the speed limit. Funnily enough though, learning the speed limits and that exceeding them is illegal hasn't changed since you passed your test.
    • Car 54
    • By Car 54 14th Sep 17, 8:32 AM
    • 2,221 Posts
    • 1,419 Thanks
    Car 54
    Am I missing something here because I passed my theory and driving test in 2005 and this is the first time since then I've received a penalty of this magnitude ? Have they reviewed the syllabus where students have to learn the offence codes and speeding fines because I can't recall this being in the syllabus back then ?
    Originally posted by Habib2342
    The syllabus consists of three books - the Highway Code, Know Your Traffic Signs, and Driving - the Essential Skills. See https://www.gov.uk/theory-test/revision-and-practice

    The only change since 2005 is that the actual test questions are no longer published.

    The penalty points and maximum fines (but not the codes) are listed in the HC, so you could have been asked about them.
    • neilmcl
    • By neilmcl 14th Sep 17, 8:36 AM
    • 9,989 Posts
    • 6,983 Thanks
    neilmcl
    Hello,

    Regrettably i recently acquired 6 penalty points after being caught doing 54 mph in a 30 mph zone on my way to work in April. This has been documented at length on this website http://forums.moneysavingexpert.com/showthread.php?p=73074913#post73074913.

    As a result I have had to pay a fine equivalent to a week's gross wages and paid an increased premium to my insurer to reflect the increased risk I now present out there..Needless to say I am now very careful of my motoring usage. Going forward what steps can I take to reduce my future insurance premiums as the points will now stay on my licence for at least another 4 years and insurers will now increase their premiums ?

    thanks,

    habib.
    Originally posted by Habib2342
    Maybe you should also take care and understand what a Motorway is, because the road that you driving on wasn't

    The steps to take to reduce premiums is the same for all of us. Shop around and stop getting caught for speeding.
    • neilmcl
    • By neilmcl 14th Sep 17, 8:40 AM
    • 9,989 Posts
    • 6,983 Thanks
    neilmcl
    The insurance will go down the older the convictions gets - they are at their worst now the points are fresh.

    There is nothing you can do to lessen the perceived insurance risk, other than maybe changing your car to something of a lower insurance grouping.

    Unless you're a young driver and the conviction was an SP30 (I'm assuming it was given it was in a 30mph zone), the number of points you've got doesn't make a dramatic difference, and most insurers accept a single SP30/50 as inevitable on most people's licences (I say this as a former insurance underwriter).

    I don't think you have too much to worry about personally regarding insurance cost, unless you get caught again / the conviction is more serious than an SP30....
    Originally posted by fiisch
    AFAIK there is no "gradual" decrease in premium the longer you've had your points, they will carry the same weighting until they've been removed.
    • Car 54
    • By Car 54 14th Sep 17, 9:35 AM
    • 2,221 Posts
    • 1,419 Thanks
    Car 54
    AFAIK there is no "gradual" decrease in premium the longer you've had your points, they will carry the same weighting until they've been removed.
    Originally posted by neilmcl
    AFAIK no insurer explains how its premiums are calculated, except in very broad terms, for obvious commercial reasons.

    Do you have some inside info?
    • neilmcl
    • By neilmcl 14th Sep 17, 9:47 AM
    • 9,989 Posts
    • 6,983 Thanks
    neilmcl
    AFAIK no insurer explains how its premiums are calculated, except in very broad terms, for obvious commercial reasons.

    Do you have some inside info?
    Originally posted by Car 54
    I can't prove a negative but from experience I've not seen any premium decrease based on a speeding offence the longer I've had it. Maybe we should ask the poster for his evidence to back up his claim that "the insurance will go down the older the convictions gets - they are at their worst now the points are fresh". I'm more than happy to be proven wrong.
    • fiisch
    • By fiisch 14th Sep 17, 12:02 PM
    • 160 Posts
    • 61 Thanks
    fiisch
    Am I missing something here because I passed my theory and driving test in 2005 and this is the first time since then I've received a penalty of this magnitude ? Have they reviewed the syllabus where students have to learn the offence codes and speeding fines because I can't recall this being in the syllabus back then ?
    Originally posted by Habib2342

    I used to be a motor insurance underwriter - it was my job to know.


    You will know what offence you are being charged with, surely? If it's straightforward speeding I wouldn't worry too much - one speeding offence doesn't make your premiums astronomical, and most insurers do not rate based on the number of points received, only that you have a conviction. For example, a scheme I used to underwrite for a popular motor insurer used to ignore the first conviction and not give any premium loading.


    I also used to work on a scheme specialising in high-performance cars which - by a bizarre quirk of the rating algorithm - used to give a hefty discount for a speeding conviction in comparison to someone with a clean driving history!

    However, if the speed was judged excessive, the police might decide to award a more severe penalty - i.e.: Dangerous Driving (you will know if you are being charged with this, as it will mandate a court appearance). Then you will experience big premium hikes, and there is little you can do to mitigate this. If you are in this situation, a specialist broker rather than your straightforward algorithms might be more suitable (Adrian Flux for example).
    Last edited by fiisch; 14-09-2017 at 12:04 PM.
    • Stoke
    • By Stoke 14th Sep 17, 12:31 PM
    • 1,814 Posts
    • 647 Thanks
    Stoke
    You could reduce the mileage you do? I know that sounds like non-advice, but the difference between 8000 and 5000 miles was a lot when I recently got my new banger and insurance. So I chatted to a friend of mine who I work with, to do lift sharing as we live relatively close. We now travel for a week in his car, and for a week in mine which has massively reduced the mileage I do.
    • elverson
    • By elverson 14th Sep 17, 12:33 PM
    • 656 Posts
    • 392 Thanks
    elverson

    I also used to work on a scheme specialising in high-performance cars which - by a bizarre quirk of the rating algorithm - used to give a hefty discount for a speeding conviction in comparison to someone with a clean driving history!
    Originally posted by fiisch
    On the basis that every other insurer would give those people a high price so it was worth discounting to keep the business?
    • wymondham
    • By wymondham 14th Sep 17, 12:53 PM
    • 4,773 Posts
    • 8,007 Thanks
    wymondham
    At what point do points effect insurance?

    I ask because about 5 years ago I get caught doing 43 in a 30 and got 3 points. I told my insurance company but it didn't seem to make any difference with my then insurance or any renewals since? Do you need to go over 6 points ?
    • Stoke
    • By Stoke 14th Sep 17, 12:58 PM
    • 1,814 Posts
    • 647 Thanks
    Stoke
    At what point do points effect insurance?

    I ask because about 5 years ago I get caught doing 43 in a 30 and got 3 points. I told my insurance company but it didn't seem to make any difference with my then insurance or any renewals since? Do you need to go over 6 points ?
    Originally posted by wymondham
    I think historically 3 points has made little or no impact on the actual quotes. Lots of people have had 3 points. Even more of us have done the courses (me included).

    6 points suggests you're a risk taker. Someone who will either do it twice or drive significantly faster than the limit.
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