SPEEDING CONVICTIONS - THE MOTOR INSURANCE IMPLICATIONS

Today's news that Chris Huhne MP is to be charged with perverting the course of justice over a 2003 speeding case prompts Allianz to issue the following information on the insurance implications of such conviction for motorists and for speeding convictions generally.

Obtaining a motoring conviction or receiving penalty points as a result of any motoring offence must be disclosed to your motor insurer. The information required includes the date of the conviction / offence, the conviction / offence code, any fine and if appropriate, the length of a ban

This information must be disclosed prior to the inception of the policy or prior to the renewal date if it is an existing customer. This allows the insurer to judge if the risk still fits within their acceptance criteria and/or to rate the risk accordingly. In essence the policyholder should contact their Insurer or their insurance Broker as soon as possible, but prior to the next policy period to disclose the change in details

A motoring conviction / offence is likely to increase the cost of insurance, but the level of increase will depend on the overall risk including what other accidents and convictions the person already has.

Mark Bishop, an Allianz spokesman, said:

"It is very likely that anyone with a speeding conviction will pay more for their insurance and the more points you have the bigger the premium loading is likely to be."

"Anyone convicted of the offence that Mr Huhne has been charged with would find it very difficult to get insurance through the conventional providers. There are specialist intermediaries out there who may be able to find cover but the premium is likely to be extremely expensive."

Ends.