do speeding tickets affect insurance rates?

2018 10 05 Blog Officer Writing Speeding Ticket On Side Of Road

A cop’s siren and the red and blue flashing of their lights is sure to make anyone’s stomach drop. You immediately regret speeding, but it’s too late. With a ticket in hand, you’re probably dreading not only paying your fine, but also how much your insurance rate will go up. We’re here to end the mystery and are laying out the actual impact of how a speeding ticket may increase insurance rates.

Speeding tickets and insurance

After you get a speeding ticket, you’ll more than likely see an increase in your insurance rate, depending on your provider. A speeding ticket shows you’re more risky of a driver, and insurance companies will balance that with a higher rate. And, if you are consistently having trouble with that lead foot, you’ll probably see your rate increase more and more with each ticket you get.

According to the National Highway Safety Administration, a driver who gets a speeding ticket is more likely to be involved in an accident than someone who hasn’t. So it’s no surprise insurance providers will charge you a bit more.

How much does my insurance go up after a ticket?

Obviously, tickets from driving 25 miles over the speed limit will be worse than tickets when you’re going ten over. If you’re speeding but also got a DUI, you’ll see a big increase because of how a DUI affects your insurance premium.

It’s hard to say exactly how much a speeding ticket will raise your insurance rate. There are quite a few factors that affect how much a ticket will increase your monthly rate. Some key factors are:

  • Your driving history
  • The severity of the violation
  • Where you got the ticket (schools and construction zones can have a bigger impact)

When will my rate increase?

Most insurance providers aren’t looking into driving records every single month. You could see an increase from a speeding ticket at your renewal time. Some insurance providers pull your driving record at that six-month mark to make sure you’re on the straight and narrow.

Others, like us here at Say, may not pull your record at renewal if you are a solid driver with a good driving and financial history. However, if you’ve had some blips in the past, we may pull your record every couple of months. We will also pull a new report if a driver is involved in an accident. No matter when a report is pulled, when your provider notices that new speeding ticket they may increase your insurance rate at the next renewal because of the increased risk.

Also, if you switch car insurance providers, your quoted rate may be higher than it would have been because of your ticket. Most ask during the quote process if you have any moving violations, so they’d find out about any speeding tickets then.

How long does a speeding ticket affect your insurance?

A higher insurance rate because of a ticket is a bummer, but that higher rate shouldn’t last forever. There’s something called the chargeable period. This period is a time frame during which an insurance company will charge you a higher rate for your speeding ticket (or any ticket, crash, or DUI). The chargeable period in most states for speeding tickets is three years. And that’s three years from the conviction, not the date you were pulled over. Providers don’t care much about speeding tickets past that three-year mark.

Do out-of-state speeding tickets affect insurance?

The short answer: yes. A speeding ticket from another state will impact your car insurance rate in your home state. Most states share information with each other, so the ticket will show up on your driving record no matter where you are.

That also means you need to treat the speeding ticket just as you would any ticket you got in your home state. Be sure to pay the ticket on time and follow any protocol laid out by the state.

Safe driving tips

Your best bet for avoiding a jump in your insurance rate because of a speeding ticket is to slow down and be sure you're driving safe. We know that’s probably common sense, but we needed to mention it anyway! We’ve got some safe driving tips here, but the highlights are:

  • Don’t drive tired
  • Avoid car distractions (like cell phones)
  • Drive slower (sorry lead footers!)
  • Use your turn signals

Always driving safe means you can not only keep your friends and family safe, but you also won’t have the headache of rate increases for speeding tickets.

Not a Say customer yet? See if you could save by switching and get a quote now!

Posted October 26, 2018 in insurance know-how.

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