Speeding

johno3163

Why is it legal for insurance companies to count a speeding endorcement
(SP30) for five years, when it is classed as spent after three years ?????

gordikin

Why should it be 'illegal' for them to do so? If they decide it's relevant for insurance purposes ie setting an appropriate premium for the risk, that's entirely a matter for them to decide.

Quentin

It isn't "spent" after 3 years, just not included in totting up.

live-life-debt-free

I believe it is spent after 3 years

vet8

Since so many drivers are caught by speed cameras these days it is simply an easy way for insurance companies to increase their premiums.

Oscar_The_Grouch

live-life-debt-free wrote: »

I believe it is spent after 3 years

Sorry, but no.

The governing Act is the Rehabilitation of Offenders Act 1974. This confirms that a conviction for an offence resulting in a fine is spent after 5 years and would include motoring offences.

After 3 years, a speeding fine is ignored for the purposes of totting up (as mentioned above).

After 4 years, you can have the endorsement removed from your licence.

You still have to declare the endorsement for 5 years, however.

JonBoy_SCFC

vet8 wrote: »

Since so many drivers are caught by speed cameras these days it is simply an easy way for insurance companies to increase their premiums.

this comment just doesn't make sense and do not believe it

simple economics mean that you don't just shove your price up for the sake of it (unless it's renewal and you think you can get away with it). you can't get away with it now that we've moved away from broker dominated market to price comparison dominated market. :money:

Treadway1

vet8 wrote: »

Since so many drivers are caught by speed cameras these days it is simply an easy way for insurance companies to increase their premiums.

Furthermore to what Jonboy said, it is very common these days for insurance companies to effectively 'ignore' up to 6 penalty points for two seperate SP30's, (6 points given in one go may be different as this would imply that the excess speed was well above the limit) as so many people are getting them these days. Infact some companies Ive seen (Cant remember any of the top of my head now), actually promote their companies by saying they take no notice of an SP30, as a way of making the motorist believe that the insurance company is anti speed cameras (As is the genral concensus it would seem), and therefore make it more likely for someone to buy their insurance with them.

Quentin

live-life-debt-free wrote: »

I believe it is spent after 3 years

If you needed a new licence (eg after losing the original) 3 years after the conviction, then your new licence would come complete with the points on for the conviction you "believe" is spent.

That belief is misplaced!

Clive_Woody

johno3163 wrote: »

Why is it legal for insurance companies to count a speeding endorcement
(SP30) for five years, when it is classed as spent after three years ?????

Insurance pricing is based on an assessment of risk, if a person has a conviction for speeding then they are considered a greater risk. I guess it is up to the insurance companies to decide when they think the risk has decreased following the conviction, and from what other people have added here they follow government guidelines with the 5 years.

N.B. they are not legally obliged to offer you insurance (although you are legally required to have insurance if you wish to drive a car), so long as their terms do not breach contract laws that deem unfair terms as unenforceable then it's up to them to set conditions as they see fit.