If you’re driving down the highway, you’ll want to keep up with traffic. but sometimes you knowingly or unknowingly go faster than the posted speed limit in that particular area. in either case, the consequence can be the same: you can get a speeding ticket. You can beg, cry, plead, or tell the officer that you are rushing to work. The officer may show some grace and let him off with a warning, but if not, he will have to deal with a speeding ticket. but then the questions start to arise. Do speeding tickets affect insurance? How much does insurance go up after a speeding ticket? In this short guide, we break down what you need to know about speeding tickets and car insurance.
do speeding tickets affect insurance?
It’s no secret that speeding tickets aren’t exactly cheap. The average cost of a speeding ticket in California could be several hundred dollars after fees and so on for an initial base fine of $35. That’s not even close to some of the costs in other parts of the country (Virginia reportedly has the highest penalties, with citations that can cost upwards of $1,000!).
But that initial pain of the fine itself is only part of the overall financial repercussions. If you’re wondering, “do speeding tickets affect insurance?” the answer is most likely “yes”. When you get a speeding ticket, you can get a point on your license, which is added to your driving record. If this is your first speeding ticket, you may be able to go to traffic school and remove the item from your record without affecting your insurance. but that is not always the case.
An important factor in determining your insurance rate is your driving record, and that includes traffic violations like speeding tickets. the more tickets you have, the more likely your insurance rates will increase.
Here’s how a speeding ticket can affect your car insurance:
- Your auto insurance premium may increase at renewal.
- rates could rise for several years.
- Rate increase may depend on speed, location and state.
- You may lose a “good driver” discount or other relevant discounts.
- If your driving record is big and serious, and a speeding ticket is just icing on the cake, it can be difficult to get car insurance from a private company. If that’s the case, you can see if your state offers government auto insurance.
why do car insurance rates go up after a speeding ticket?
Your driving record helps insurers understand the risk you may be taking on the road. and guess what determines your driving record besides accidents and minor crashes. yes, speeding tickets.
Speeding is one of the leading causes of car accidents. therefore, when you engage in this risky driving behavior, it is natural for your insurance company to take this additional risk factor into account. racking up multiple speeding tickets can have a more significant impact on your rates.
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The (kind of) good news is that, according to an analysis by Zebra, speeding tickets are the least expensive traffic violations when it comes to insurance rates. but the potential price hike may still be significant. If you’re worried about how much insurance goes up after a speeding ticket, on average it’s $354 per year according to an analysis by financial site NerdWallet. not exactly a small amount.
The thing about speeding is that it’s not a black and white problem: a driver can be caught accelerating a few miles over the limit or well over the limit. In other words, there is a lot of room for nuance and going 5 to 10 miles per hour over the speed limit is different than going 25 to 50 miles per hour over the speed limit.
Severity can be reflected in your speeding ticket and increased auto insurance rates. it all depends on how your state treats speeding tickets and limits, as well as your auto insurance provider.
Each auto insurance provider may treat a speeding ticket differently. while some companies only increase rates if a driver is ticketed for going more than 15 mph over the posted limit, other companies may not increase the rate at all if it’s a first offense.
Of course, having multiple traffic violations, including speeding tickets, can add points to your driving record. that may mean you could be at risk of sky-high insurance premiums. In the worst case, your license may be revoked or suspended.
Here’s where you can take a deep breath: Traffic violations don’t permanently affect your insurance rates. So if you think speeding tickets will be on your driving record forever and lead to crazy, expensive rate increases for eternity, think again.
Most companies look at your list of traffic violations over the last three to five years when determining your rate, and once a ticket is removed from your driving record (this varies by state, but most of states remove points after three years), insurance companies can no longer charge you with the violation (ugh!).
what can you do to reduce car insurance premiums after a speeding ticket?
If your primary concern is cost, it’s natural to wonder how much a speeding ticket increases your insurance. How much it goes up may depend on your driving record and your insurer, but there may be a few ways to lower car insurance premiums after a speeding ticket.
The first thing you should do is see if you qualify for a defensive driving course to avoid having a point added to your record. If so, then it’s a huge win and can save you money in the long run. however, you will still have to pay for the traffic school and ticket plus any associated fees.
Next, commit to being a safe driver and being more aware of speed on the road. One speeding ticket isn’t the end of the world, but racking up a lot more won’t do you any favors in the cost-savings department.
You also want to see whether or not the speeding ticket will affect your auto insurance premium. If you have a good driving record and this is a one off on a clean record, your insurance company may not take any action.
However, if your insurance company increases your auto insurance premium, it may be for several years. Depending on the increase and your preference, it may be a good idea to shop around and look at other coverage options.
the end result
After receiving a speeding ticket, you may be concerned and wondering how much insurance goes up after a speeding ticket. it can be several hundred dollars, depending on your history, your insurer, and whether or not you can drive defensively. Although it can be expensive, a one-time thing is like a warning from the universe to slow down.
In the future, be aware of the speed limit in the area where you drive. in the best case, you will not have a premium increase. If your car insurance premium goes up, consider getting other car insurance coverage. Low-mileage drivers can take advantage of pay-per-mile coverage with Metromile. you do things like pay gas by the gallon. So why not pay for miles based on how much you drive? it’s auto insurance that makes sense. get a courtesy quote with metromile to see potential savings.