New research has calculated that drivers in England and Wales spend at least £84.4 million on speeding fines every year. This highlights that the nation’s motorists are losing a fortune due to reckless driving, which could be avoided by being more cautious on the roads.[1]

This estimate is based on the minimum speeding penalty of £100, and Home Office figures on the number of fines paid in 2022. However, as more severe offences can result in bigger fines, the true figure that was paid is likely even larger than this.

Based on the study, produced by Go.Compare Car Insurance, £10.2 million of the country’s annual speeding bill is made up by drivers in Greater London. The Metropolitan Police received payment for over 100,000 fines in 2022, enough to pay for more than 300 police cars.[2]

Other police force areas estimated to have paid the most in fines include Avon and Somerset, and West Yorkshire. Avon and Somerset Police will have received a minimum of £4.9 million, while West Yorkshire Police took payment for 44,600 fines across the year, equivalent to at least £4.46 million.

West Yorkshire and Greater London also ranked among the areas with the highest volume of speed cameras in the country in 2022, according to a separate study by GoShorty.[3]

The comparison site warned drivers that receiving a fine can also impact their car insurance premiums. Motorists have to tell their provider when they receive a penalty and could be faced with a £121 increase in their price as a result.[4]

Those with no offences on their policy pay a median of £390 for comprehensive cover, compared to £511 for those with a speeding violation. This increases by another £153 for those with multiple offences on their policy, resulting in a median of £664.

Go.Compare says that over 97,000 policies bought through their site last year included a speeding offence – a 1.71% increase on the year prior. However, this is still a 4% decline from 2020, when the number was over 101,000. Drivers in London (4,047), Bristol (1,637) and Birmingham (1,369) admitted to the most speeding penalties on their policies.[5]

Tom Banks, a car insurance expert at Go.Compare, said: “Speeding is one of the biggest safety risks on the road, so it’s appropriate that the penalties surrounding it are so strict. Getting caught can have a serious impact on your wallet, as you’ll suffer a fine and the knock-on effect of higher insurance prices.

“With this in mind, it’s shocking to see that so many drivers are still taking the risk, with a collective fortune being lost as a result. Millions are being chucked down the drain due to exceeding speed limits, so it’s clear that many motorists need to exercise more caution when travelling.

“If you ever see other motorists driving dangerously, you should report them to the police as soon as it’s safe to do so by pulling over and dialling 999. It’s also important to avoid straying over the limit yourself so that you don’t put the safety of yourself and others at risk.”

More figures on the UK’s speeding hotspots can be found on Go.Compare’s website.