How Much Does Insurance Go Up After A Speeding Ticket?
If you’re wondering how much does insurance go up after a speeding ticket, you’ll be pleasantly surprised to learn that, in most cases, your car insurance rates won’t increase after just one moving traffic violation. Generally, it takes at least two tickets to raise your premiums, and how much your cost of coverage is affected depends on your driving record, personal profile (e.g. gender, age, etc.), and state of residence.
If this is your first speeding ticket in 3 years, then you’re likely eligible for a defensive driving course that will get the ticket dismissed and therefore maintain your clean driving history and “safe driver” discount. If you’ve had multiple speeding tickets and traffic violations in the same time period, then you’ll want to know how much your insurance rates will increase so that you can decide whether to shop around and compare quotes from other companies.
Although we can’t provide you exact figures given that different companies calculate premiums with different formulas, we can help you estimate how much your insurance costs will go up based on averages. Read on to learn how much a speeding ticket affects car insurance rates in different states.
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How Much Will Insurance Rates Go Up After A Speeding Ticket
On average, car insurance rates go up about 10% after a speeding ticket. However, when determining how much you will pay for coverage, the best auto insurance companies will review a long list of factors, including the type of vehicle you have, how many miles you typically drive each year, and whether or not you have any tickets or at-fault accidents on your driving record.
To give you an idea of how much more you’ll pay if you get a ticket, here’s how much insurance rates go up for drivers with a speeding ticket going 6 to 10 mph over the limit in California, New York, Texas, Florida, and Illinois.
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One major factor that will affect your auto insurance rates is the fact that you may lose your safe driver discount. The safe driver discount is offered to policyholders who have a clean driving history, meaning no at-fault accidents or moving traffic violations in the last 3 to 5 years. This discount typically saves you about 25%. Now imagine you don’t get that discount on your premiums anymore and, on top of that, your cost increases 10%.
How Traffic Tickets Affect Insurance Rates
Different types of traffic tickets will affect your insurance rates in different amounts. For example, while reckless driving and failure to stop tickets do increase premiums, a fix-it ticket for a broken head or tail light probably won’t affect your insurance. Ultimately, it depends on your state’s insurance regulations and your insurer.
Tickets That Increase Rates
Here’s a list of traffic tickets that will raise your rates.
- Reckless driving – 22%
- DUI – 1st Offense – 19%
- Running a red light – 18%
- Speeding 30 mph over the speed limit – 15%
- Speeding 15 to 29 mph over the speed limit – 12%
- Speeding 1 to 14 mph over the speed limit – 11%
- Failure to stop – 15%
- Texting and driving – 14%
- Improper turn – 14%
- Improper passing – 14%
- Failure to yield – 9%
- Driving without insurance – 6%
- Seat belt ticket – 3%
Remember, non-moving violations, such as parking tickets, won’t affect your rates.
Why Speeding Tickets Increase Car Insurance Rates
The premium that is charged for any type of insurance coverage is based in large part on the amount of risk the insurance carrier is taking on with the insured. Because higher risk individuals are statistically more likely to cause companies to pay out claims, the insurer will generally compensate for this by charging higher rates for coverage.
Speeding Can Cause Accidents
In the case of speeding tickets, those who are more apt to drive faster than the speed limit are oftentimes also more likely to be involved in an accident, and at-fault auto accidents are the costliest claims for providers. In fact, accidents stay on your driving record for 3 years and cost drivers much more than speeding tickets. So, if you’ve recently gotten a traffic ticket, then the likelihood of you being charged more for your car insurance is high.
It is important to note, though, that the way in which speeding tickets impact your rates can differ from one insurance company to another. The number of tickets you receive within a certain time frame can also be a factor in whether or not – as well as in how much – your premium increases.
First Speeding Ticket
For example, if a driver has gone for many years without getting a speeding ticket, and then she receives one, it may or may not have any effect at all on the rate they continue to pay for insurance coverage. This is at the discretion of the insurer and their internal policies.
Multiple Speeding Tickets
Alternatively, if an individual is pulled over several times for driving fast – particularly if these speeding tickets occur within the 1 to 3-year time period – then it is probable that this driver’s car insurance premiums will go up.
How Much Over The Speeding Ticket Were You Going?
Another criteria that can impact whether or not your auto insurance rates go up due to a speeding ticket is the severity of the violation. In this case, if the driver is only going 10 to 15 miles per hour over the speed limit, then a speeding ticket that is received may only impact their auto insurance rates moderately, if at all.
If, however, the driver is going 20 or 30 miles per hour over the speed limit and the police officer decides to tack on a reckless driving ticket, it is not only likely that their car insurance rates will increase, but also that she will incur a hefty fine.
How To Get Cheap Car Insurance After A Speeding Ticket
Even if you started out with cheap rates, your premiums could go up if you receive speeding tickets. This is the case especially if you’ve had several speeding tickets within a short period of time.
With that in mind, it can be beneficial to regularly shop and compare auto insurance quotes from a variety of companies. Because carriers calculate prices very differently, some providers may not penalize you as bad for a ticket. Similarly, completing an insurance comparison annually can ensure you are always getting the cheapest rates, and can even be used in negotiations with your current insurer.
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