Does a Speeding Ticket Affect Your Insurance?

If you have recently gotten a speeding ticket and you are wondering if it will affect your car insurance rate, the answer is yes. You will pay more for your car insurance if you have been given a speeding ticket.

Does a Speeding Ticket Affect Your Insurance?

However, the amounts you will pay for your car insurance vary depending on your location, driving history, and several other factors. If you get a speeding ticket, then you can compare car insurance quotes from different companies to find a cheaper rate.

How Much Does a Speeding Ticket Affect Your Car Insurance?

After getting a speeding ticket, your car insurance policy will go up by about 25%. On average, a driver who is convicted of speeding will have to pay a total of $2,693 per year for full coverage insurance, which is more than a driver who has a clean record. How a speeding ticket can affect your car insurance varies by driver. 

Your premium increase could be more or less than others based on different factors such as which insurer is your location, whether your speeding ticket was a first offense, how many miles you were speeding over the limit, and your driving record, which includes at-fault car accidents and traffic violations. Here are the factors that car insurance companies consider when reviewing your driving record:

1. How Far Over The Speed Limit You Were going

The more you break the speed limit, the more likely your insurance rate will increase. Your rate will increase because speeding tickets are known to be a good predictor of future accidents. When you are driving faster, it is more difficult to stop your car or react to objects or vehicles that appear right in front of you. If you are likely to get into an accident, you are a potential risk to car insurance companies. The insurance companies will charge you accordingly.

2. If This Is Your First Speeding Ticket Violation

If this is your first time being caught speeding, then your car insurance rates might go up. It also depends on the car insurance company. Every company weighs a driver’s record differently. The speeding ticket that you receive, the more likely your insurer will increase your rates. Several tickets show the car insurance company that you are a frequent offender and therefore risky.

The state also assigns points to drivers who commit traffic violations. This can influence how much a speeding ticket affects your rates. If your speeding ticket causes you to accumulate so many points that you are at risk of losing your license, the insurers might increase your rate even if you weren’t speeding too much.

How Long Will a Speeding Ticket Affect Car Insurance Rates?

Speeding tickets are typically known as surchargeable incidents. This means that it is an event that can increase your insurance rates. Based on your state, traffic violations can keep your record for 3–5 years. Most insurance companies and state laws will reduce the surcharge for every year that you drive without any other incident, like an at-fault accident or a moving violation.

Car Insurance Rate Increases By Insurance Company After a Speeding Ticket

The table below shows the average rates for drivers with full coverage insurance after a speeding ticket.

CompanyAverage Annual Rates for a Good DriverAverage Annual Rates With a Speeding TicketAverage Rate Increase After a Speeding Ticket
State Farm$1,402$1,60715%

How Can I Reduce My Car Insurance After a Speeding Ticket?

If you are issued a speeding ticket that leads to higher rates, there are several ways to reduce your bill, and they include:

  • Shopping around: This is one of the best ways to save money. You can compare car insurance quotes to get the best deal. Your speeding ticket will impact your driving record and go along with you to a new car insurance company. However, it might still be able to beat your previous company’s rates for the same coverage.
  • Take a safe driving course: If you don’t have any history of traffic violations, you might be able to take a state-approved driving course to remove some points from your driving record.
  • Ask for discounts: You can get multiple discounts, such as adding car and home insurance, car safety discounts, and several other types of discounts.

These are the ways you can reduce your car insurance cost after getting a speeding ticket.

What Types of Tickets Affect Your Car Insurance?

Moving violations can increase your car insurance rates. In addition, reckless driving, BUIs, and speeding tickets can also affect your car insurance rate.

How Do Car Insurance Companies Know About Your Speeding Ticket?

Insurance companies have access to all your driving records. This includes information on all traffic violations that you have incurred in the last 3 to 5 years, based on your state.

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