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Points don’t win prizes

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Motorists are paying the price for having penalty points on their licences to the tune of £132 million a year.

Research by the Institute of Advanced Motorists (IAM) and MoneySuperMarket showed that higher insurance premiums caused by penalty points were driving up the cost of motoring.

Unsurprisingly, the drivers with the highest number of points are paying the most – those with 10-11 points, and 12 or more, have respectively paid 81.8% and 89.3% more for car insurance.

Drivers in London, Glasgow and Birmingham pay out the most, paying more than £8m, £4m and £3m respectively in more expensive insurance.

The IAM and MoneySuperMarket have calculated the increase in premiums for drivers with one to three penalty points, four to six points, seven to nine, 10-11, and 12 or more for every postcode area of the country, as well as major towns and cities.

Even getting the lowest number of points – between one and three – is costing drivers in London more than £2.4m, Glasgow £1.5m and Birmingham more than £1.2m.

It adds that across the UK those with one to three points will pay an extra £49.5m in higher insurance, those with four to six points an extra £57.4m, seven to nine £18.9m 10-11 £3.5m and 12 or more £2.6m.

The cities paying the most were: London (£8,079,529); Glasgow (£4,080,190); Birmingham (£3,423,840); Nottingham (£2,833,865); Newcastle (£2,642,079); Cardiff (£2,586,075); Sheffield (£2,535,609); Edinburgh (£2,070,783); Swansea (£2,036,358); Manchester (£2,026,561).

People in Bournemouth, Brighton, Bristol, Chester, Coventry, Derby, Leeds, Liverpool, Norwich, Oxford, Portsmouth, Preston, Southampton, Stoke and York have all paid more than £1m in additional insurance premiums. Bath and Plymouth sit just below the £1m mark.

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