Labour urged to make 20mph speed limits the 'norm' in drastic move to slash car insurance prices
WATCH: Should the UK be limited to 20mph? GB News discusses
GB NEWS
Drivers who stick to 20mph limits while travelling are more likely to pay less for car insurance, new research has revealed.
The report found that the price of car insurance has dropped by roughly 16 per cent over the past 12 months, the equivalent of £161.
Experts estimate average car insurance premiums to be £834, a drop from £995 a year earlier, and is the lowest price recorded in 18 months.
The cheaper insurance prices have been attributed in part to the nationwide rollout of 20mph with one expert calling it a "key factor" when considering prices.
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In Wales, 20mph roads helped reduce car insurance prices for many drivers
GETTYSteve Dukes, chief executive of confused.com said: "Some UK insurers are observing that areas where 20mph zones have been introduced result in lower levels of claim frequency – a key factor in the cost of car insurance.
"Though many drivers find these reduced speed zones frustrating, it’s positive to see the bright spot this is creating for drivers’ costs."
The use of 20mph areas across the UK has been growing in popularity with Wales going so far as to introduce mandatory speed limits across the whole country in September 2023.
The 20mph limits were put in place in residential and built-up areas with street lights placed no more than 200 yards apart.
In London, around 163 miles of Transport for London's (TfL) roads are subject to a slower, 20mph speed limit.
TfL shared on its website: "We will closely monitor changes we make to our roads. This may include looking at possible effects on nearby roads as needed.
"The Metropolitan Police handed out speed limits across most of London's roads. We work with the police to increase their capacity to take enforcement action against drivers and riders who speed."
The transport authority added that the police issued nearly one million speeding tickets last year with each being a minimum of £100 fine. In 2023, they enforced 790,513 speeding offences.
Vehicle damage claims decreased by a fifth thanks to slower speed limits in Wales, which also contributed to cheaper premiums for drivers.
Peter Martin-Simon, chief customer officer at esure, commented that the insurer was "already seeing the benefits" in places where 20mph speed limits have been introduced.
He said: "Not only does this make roads safer for drivers and pedestrians, but an extension would also materially reduce the number of car accidents, as well as the severity and cost of those accidents.
"Within three months of us identifying a new 20mph zone, we will proactively reduce policy prices for customers like we have already done in Wales."
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There are currently 163 miles of roads with 20mph limits on them in London
TFL
While Welsh drivers benefited from lower insurance prices, Rod King, founder of 20s Plenty for Us, warned that English drivers will continue to face higher premiums "until the current patchwork of 20mph limits by exception is consolidated into 20mph as a norm".
He noted that this confirms on a national scale the "benefits from lower speeds not only reducing casualties and danger but also providing a benefit to drivers in reduced insurance premiums”.
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