How Do Speeding Tickets Affect My Car Insurance?

By Mike Anderson Posted in Car Insurance News

Getting a speeding ticket can result in hefty fines and cause your car insurance rates to rise up to 50%, depending on what insurance company you are insured through.

Why Will Speeding Tickets Affect My Insurance Rates

Insurance premiums are based on several factors that affect the rate you pay. Where you live, your age, and your driving record are a few examples of these factors. When an insurance company gives you a quote for insurance, they access your driving record to see how safely you drive. Unfortunately, if you have accumulated a number of speeding tickets, you likely have several driving points on your driving record. Each speeding ticket can accrue two or three points depending on how far over the speed limit you were. Although some states offer traffic school as a way to defer some of the points, you can only take the traffic school every so often. These points will stay on your driving record three to five years.

Why Do Insurance Companies Care About Speeding Tickets

Speeding tickets are taken seriously by insurance companies because they represent a high risk factor. According to a study funded by the AAA Foundation, speeding triples the odds of a crash because it reduces the time that you have to react to curves, obstacles or other drivers. Speeding also increases the distance needed to stop the vehicle, the wear on the vehicle’s tires and braking system, and the likelihood of serious injury. Speeding on a busy road that is lined with homes is especially dangerous as there could be children or pedestrians present.

Special areas such as construction work areas and school zones increase the fine you will have to pay for speeding. Insurance point values can vary by company; however, having several speeding tickets on your record is sure to cause your insurance rates to rise.

Related posts:

  1. By How Much Will My Premiums Increase For A Speeding Ticket?
  2. How Much Does Car Insurance Go Up After A Ticket?
  3. Which Car Insurance Companies Ignore Speeding?
  4. How Do Driving Records Affect My Car Insurance Premium?
  5. What Affects Your Driving Record?

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