Being one step away from a driving ban can mean cheaper car insurance costs than having zero no-claims discount.
Research by Vantage Leasing found that insurance quotes were nearly 10% cheaper on average for a typical UK driver with nine points on their licence for speeding or other transgressions compared to a lack of no-claims discount.
Male and female drivers with six penalty points to their name were also cheaper to insure than motorists with one, two or three years’ no-claims bonus.
Vantage Leasing also found the ?KODA Fabia is Britain’s cheapest car to insure.
The research also found that parking in a locked garage is not always cheaper than leaving the car on the road or driveway. Parking on the road was cheapest on average, costing nearly 10% less compared to leaving a vehicle in a locked garage; parking on the road was also fractionally cheaper than the driveway.
The sharp rise in thefts using ‘transmitter relay’ attacks targeting cars with keyless entry systems could be to blame for lower insurance quotes for cars parked on surrounding roads.
Vantage Leasing managing director, Rob Walker, said: “The research is eye-opening, dispelling common myths including that penalty points could spell disaster when it comes to insurance costs.”
Perhaps unsurprisingly, a typical young driver is impacted more by driving convictions than an older driver, and their occupation can see quotes vary by as much as 30%. A typical 21-year-old sales executive could pay over £350 more than a young book-keeper.