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Do Speeding Tickets Affect Insurance? FAQ Answered

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If you’re wondering, “Do speeding tickets affect insurance?” The answer is apparently “yes.” It goes without saying that speeding tickets aren’t cheap. Your driving record, including traffic violations such as speeding tickets, is an important factor in determining your insurance rate. The more tickets you have, the higher your insurance rates are likely to be. Read on to know more about the possible effects of speeding tickets on your insurance. 

Speeding tickets and auto insurance 

While driving 10 to 15 mph over the speed limit, you should expect a 10%-20% rise in your insurance premiums; when driving 30 mph or more over the limit, you can expect up to a 40% increase in your premiums. For a 35-year-old driver who was penalized for driving 16 mph over the speed limit. According to some research, a speeding ticket often results in a 25 percent increase in the cost of auto insurance.  

Full-coverage insurance costs an average of $2,043 a year for a driver who has been convicted of speeding. It all comes down to where you reside and the insurance company you choose, and how much of a financial burden you can expect to bear. Most insurance companies hike rates after two or more speeding tickets, although this isn’t always the case. 

Here’s how a speeding ticket could affect your auto insurance: 

  • Renewal of your automobile insurance may result in a rise in your rate. 
  • For several years, rates may rise. 
  • Speed, location, and state all play a role in whether or not your heart rate rises. 
  • A “good driver” discount or other applicable incentives may be forfeited. 

Car insurance may be difficult to obtain from a private insurer if your driving record is full of offenses, including a speeding citation. Make sure your state provides government-sponsored auto insurance in the event of an accident. 

What affects the amount that your auto insurance will increase after a speeding ticket? 

After a speeding violation, the cost of your car insurance will vary from company to company. Some of the criteria that will be taken into account are: 

  • Your driving record prior to this. 
  • Regardless of whether it was a first-time crime. 
  • How long has it been since your last traffic offense. 
  • Miles per hour over the speed limit were you driving at the time. 

How much does insurance go up after a speeding ticket? 

After a speeding ticket, you may wish to reduce your coverage if you have full coverage auto insurance and don’t like the price. The cost of the minimum required auto insurance after a speeding ticket is often less than half that of full coverage. Average annual vehicle insurance premiums after a speeding ticket: 

  • Full coverage costs $2,043.
  • Minimum coverage costs $710.  

Consider this option carefully before making a final decision. There is no comprehensive or collision coverage with a basic auto policy. As a result, if you cause an accident, your insurance will not cover the costs of repairing your vehicle. This can make sense if your car isn’t worth a lot of money. Your lender may mandate that you maintain complete insurance coverage if you have a car loan or lease. 

Average car insurance rates by company after a speeding ticket

Average premiums for a 35-year-old driver purchasing full coverage insurance following a speeding violation, listed from the least to the highest increase in average premiums. 

Company Average annual rate after a speeding ticket Increase compared to a driver with a clean record 
American Family $1,715 $261 
State Farm $1,669 $288 
Allstate $2,330 $336 
Nationwide $1,753 $421 
Progressive $2,245 $507 
Travelers $1,939 $512 
Farmers $2,298 $554 
USAA* $1,485 $246 

*USAA is available only to active military, veterans and their families. 

do speeding tickets affect insurance

Photo by Denny Müller on Unsplash

What can you do to lower car insurance premiums after a speeding ticket? 

Ensure that you drive safely 

The most important thing to remember is to drive safely. Insurance premiums may be reduced if you have a clean driving record according to the III You may be able to save money on your vehicle insurance premiums even if you have gotten one speeding ticket. 

Change your insurance policy  

The cost of your auto insurance may have gone up, but switching to a different policy may help you save money. Whether or whether this is a good choice for you will be determined by the specifics of your insurance need. In order to make an informed decision about your insurance policy, speak with your insurance agent. 

Enroll in a defensive driving course 

In some areas, taking a defensive driving or accident prevention course may help lower your insurance price. According to the New York State Department of Financial Services, insurers are required to grant a discount on automobile insurance to drivers who have completed a state-approved accident prevention course. 

Insurance companies may not raise premiums after a speeding ticket if the motorist is at least 25 years old and has not had a comparable offense in the last three years, according to certain companies.  

The best course of action after receiving a ticket is to drive cautiously in order to avoid receiving another infraction. Car insurance rates can be affected if you get a ticket for speeding. Insurance companies may run a driver’s record and raise the premiums of those who have a history of speeding fines.  

Even if a driver hasn’t filed a claim, this can lead to an increase in their insurance prices. One strategy to keep insurance prices low is to practice safe driving and be aware of your surroundings when you’re out on the road. 

Will a speeding ticket go on my record? 

Minor traffic violations, such as speeding tickets or running a stop sign, typically remain on your driving record for three years, though the exact time period varies from state to state and from year to year. 

When will a speeding ticket show up on insurance? 

It’s possible that your insurance company won’t conduct a record check on you for another 18 to 24 months. As long as your driving record is clear, your insurance company will not raise your premiums for a traffic ticket, but other risk factors can do so at any time. 

How long does a speeding ticket affect your insurance? 

Speeding tickets typically remain on a driver’s insurance record for three years or more. For up to five years, depending on your provider and the state in which you live, it may be on your record. 

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