But if you're caught speeding on minor roads, it's just £36.
Motorway speeding fines have almost three times as much effect on a driver’s insurance premiums as other speeding offences, according to new research.
A study by consumer rights organisation Consumer Intelligence found that having a motorway speeding offence on a driver’s record would add an average of £101 to their insurance policy, compared to just £36 for a speeding offence from any other road.
The average insurance premium for a driver with no speeding convictions currently stands at £693 per year, but those with motorway speeding offences average almost £800 a year, while those caught speeding away from Britain’s arterial routes manage to keep their average premiums below £730.
Interestingly, drivers over 50 will pay more for a speeding offence on a motorway – a massive £166 on average – but speeding on minor roads will cost just £14 a year in insurance.
Speeding offences are becoming common on driver records, with more than 1.97 million fixed penalty notices issued for speeding in 2016 – a 32 percent increase on 2011. On-the-spot fines can cost drivers as much as £2,500, depending on the severity of the offence.
However, not all of those 1.97 million tickets will result in a fine. In some situations, drivers can be offered a speed awareness course that doesn’t go on record.
Consumer Intelligence pricing expert John Blevins said: ‘Our analysis shows that the cost of speeding is not just the fine but the higher insurance bill. At more than £100 a year for being caught exceeding the limit on a motorway, it is substantial considering insurers ask about any convictions in the past five years.
‘Insurers understandably take the view that drivers who break the speed limit are potentially a greater risk and as a consequence put up the cost of motor insurance. Premiums may be heading down again after years of increases but drivers who break the law will not benefit from any price reductions.’