Motor Industry News
As government figures released today show only one in 20 collisions last year were caused by a driver breaking the speed limit, a report reveals over half (54%) of drivers think speed cameras encourage people to drive more erratically. This is the staggering finding of 'Speed cameras and speeding drivers', a comprehensive report published by swiftcover.com, the UK's only 100% online motor insurer*.
Other key findings from the report reveal:
- 58% don't believe speed cameras increase safe driving
- Almost three-quarters (71%) think that speed cameras make motorists less aware of hazards on the road, increasing their risk of causing accidents whilst their attention is diverted
- Less than one in eight (13%) Brits think speed cameras are the safest way to reduce speeding
- Two thirds (66%) believe speed cameras are mainly used as a revenue generating opportunity
- And seven in ten drivers (71%) are focusing more on the speed camera than on the road ahead
- Almost half (44%) believe that speed cameras should not be used to generate money at all
- Total fines from cameras exceed £114million every year
- Speed cameras could lead to an increase in motor insurance premiums of £36 million** each year
"It is clear from our research that speed cameras have emerged as the scourge of the 21st century motorist. People are fed up with the imposition of speed cameras on every corner but, more importantly, believe that they are failing to fulfil their key objective of improving road safety."
"Equally, motorists feel that the huge amount of revenue generated from these cameras - estimated at £114million each year - could be put to far better use than simply paying for more and more cameras."
"Britain's drivers are not only frustrated by the ineffective use of the cameras - many are hit in the pocket with a fine for speeding, and could face increased insurance premiums, when they believed that they were driving safely for the prevailing conditions at the time. Our experience shows that drivers with one speeding conviction are just as safe as those with none, so swiftcover.com does not charge extra for those unfortunate enough to have been caught by a speed camera just once."
Andrew Blowers, Chief Executive at swiftcover.com
* YouGov interviewed 2000 British adults during Feb 2006 for swiftcover.com's Datamonitor report
** 2.2million motorists are caught each year - 45% by cameras. Of these, 80% have a clean licence when convicted. 2,223,093 x 45% x 80% = 800,314.
Typically insurance premiums increase by £45.05 (see below - this is 9% of £500.61) = £36,054,145.
Based on average industry car insurance premium of £500.61 (Source: What If March 2006) and average loading on premium for first speeding conviction of 9%. Swiftcover does not load insurance premiums for one speeding conviction.
www.swiftcover.com is the UK's only 100% online insurance provider and offers a car insurance quote in under 60 seconds. In the latest edition of Which?, Swiftcover motor insurance has been accredited a Best Buy. swiftcover.com recently won the General Insurance Website of the Year Award at the 2005 Insurance Times Awards.