How Avoiding Speeding Tickets Can Save You Money on Car Insurance

Speeding is dangerous, but we’ve all been guilty of going a little too fast at times. Getting pulled over and ticketed can be a frustrating and expensive experience. What many drivers don’t realize is that speeding tickets can also lead to increased car insurance rates that cost you a lot more over time. Avoiding speeding tickets isn’t just about driving safely – it also protects your wallet. In this article, we’ll look at exactly how much speeding tickets can raise your insurance, when the rate hikes hit, and most importantly, how to avoid speeding tickets so you can keep more money in your pocket.

How Speeding Tickets Raise Insurance Rates

Most car insurance companies will raise your rates if you get a speeding ticket In fact, a single ticket can increase your insurance premiums by an average of 25%, while several tickets can cause hikes of 50% or more This is because insurers see speeding tickets as an indicator that you’re a higher-risk driver. Statistically, speeders are more likely to get into accidents, so the insurance company charges you more to cover that extra risk.

The exact amount your insurance goes up after a speeding ticket depends on several factors:

• Your age – Younger drivers tend to see bigger rate hikes than older more experienced drivers.

• Your driving record – If it’s your first ticket, you’ll see a smaller increase versus multiple tickets.

• Where you live – Insurance rates and speeding penalties vary widely across states.

• Your insurance company – Some insurers penalize speeding more than others when setting rates.

To get an idea of how much a ticket could cost you, let’s look at some real-world examples. Say you’re a 35-year old driver with a clean record before the speeding ticket. Here’s how much your insurance might go up:

• California – $643 more per year
• Florida – $812 more per year
• Michigan – $1,492 more per year
• Texas – $323 more per year

As you can see, a single ticket can easily cost several hundred dollars per year in increased premiums. And those costs continue for 3 to 5 years until the ticket falls off your driving record. That’s why doing everything possible to avoid speeding tickets just makes good financial sense.

When Will My Rates Go Up After a Speeding Ticket?

In most cases, your insurance rates won’t increase right away after getting a speeding ticket. Insurance companies typically only pull your driving record and adjust premiums when your policy is up for renewal. So if you get a speeding ticket today, you’ll likely see the rate hike hit 6-12 months from now at your next renewal date.

However, there are couple scenarios where your insurance costs could go up immediately after a ticket:

• You switch insurance companies before your renewal comes up. The new insurer will pull your driving record when issuing a quote.

• You make a claim shortly after the ticket. When you file a claim, the insurer will likely rerun your driving record and could raise your rates.

To avoid surprises, make sure you disclose any recent tickets when shopping for quotes. This will ensure you get accurate pricing.

How Avoiding Tickets Keeps Insurance Costs Down

Now that you know how heavily speeding tickets impact your insurance rates, let’s look at how driving safely and avoiding tickets can save you money in the long run.

Pay Lower Premiums

The most obvious benefit is that you’ll avoid the sharp rate hikes that accompany speeding convictions. If you’re prone to lead-footing it, cutting out the tickets could potentially chop hundreds of dollars from your annual insurance costs. That’s money that stays in your pocket rather than going to higher premiums.

Maintain Your Good Driver Discount

Most insurers offer discounted rates to drivers with clean records, often called a “good driver” or “safe driver” discount. This discount – typically 5% to 15% – is based on being ticket and accident-free for a set period of time, usually 3 to 5 years. A single ticket can make you ineligible for the discount, bumping your rates up.

Quality for the Best Insurance Rates

Drivers with perfect records tend to pay the lowest rates. Statistics show they file fewer claims than drivers with tickets and accidents. Insurance companies reward these low-risk drivers with their most affordable rate tiers. Even one ticket can knock you out of the “perfect record” bracket.

Avoid Surcharges on Top of Rate Hikes

A handful of states allow insurers to impose surcharges – on top of premium increases – for drivers with tickets and violations. In California, a single ticket adds $100 to your annual policy cost for 3 years. In Massachusetts, a speeding ticket comes with a $500 surcharge. Avoiding moving violations keeps you off the surcharge list.

Lower Rates Once Tickets Expire

The flip side is that once tickets drop off your driving record, usually after 3 to 5 years, your insurance costs should decrease at renewal time. Having a clean record again qualifies you for “good driver” discounts and the lowest rate tiers. So avoiding new tickets for a few years can eventually save you money.

5 Tips to Avoid Speeding Tickets

Now that you’re motivated to keep your driving record clean, here are some practical tips to avoid those pesky speeding tickets:

1. Allow Extra Time

Rushing and being late are the top causes of speeding. Allowing adequate time to reach your destination can help avoid the temptation to hammer down. Prioritize punctuality and give yourself an extra 10-15 minute buffer for commutes and other drives. You’ll be less likely to speed without the pressure of running late.

2. Set Your Cruise Control

Cruise control helps you maintain a steady speed, instead of unconsciously accelerating. Use it on highways and open roads to remove the temptation to creep over the limit. Just double check the speed is set to the posted limit or below.

3. Limit Distractions

Distracted driving impairs your ability to monitor your vehicle’s speed. Put your phone away, avoid changing music or GPS, and focus on driving. The less distracted you are, the easier it’ll be to maintain the proper speed.

4. Know Speed Limits

Make it a habit to check the speed limit anytime you enter a new road and be aware of changes. An “oops, I didn’t notice the limit dropped” excuse rarely gets you out of a speeding ticket. Also, note limits in and around school zones and construction zones, which are often heavily enforced.

5. Stick to the Slow Lane

Stay in the right lane on multi-lane roads whenever possible. The left lanes tend to move faster, which can unintentionally lead to speeding. Cruising in the right lane removes some of the temptation to speed up to the flow of traffic.

Avoiding Tickets Saves More than Just Money

While the insurance savings are nice, the most important benefit of avoiding speeding tickets is quite simply staying safe on the roads. Speeding contributes to thousands of accidents and injuries each year. By sticking to speed limits and driving distracted-free, you make the roads safer for everyone while protecting your wallet. Keeping your driving record clean saves you money now and down the road. Slow down, stay alert, and keep the tickets out of your glove box. Your insurance premiums will thank you.

Frequency of Entities:
speeding tickets: 22
insurance rates: 13
driving record: 10
car insurance: 10
speeding ticket: 8
insurance costs: 7
insurance premiums: 6
speed limits: 5
rate hikes: 4
good driver: 4
clean record: 3
cruise control: 2
insurance company: 2
renewal date: 2
rate tiers: 2
driving safely: 2
saving money: 2
premium increases: 2
staying safe: 2