How Much Does a Speeding Ticket Increase Insurance – Learn It
For many car insurance companies out there, a speeding ticket is an indication that a particular driver is a risky one, with possibilities of getting in an accident, and eventually causing the companies to fork out money. That is why car insurance companies give importance to a person’s driving record prior to determining his/her car insurance premiums.
Are you wondering if speeding tickets would increase your car insurance? Do you find yourself asking “Do speeding tickets increase insurance”? Well, they certainly do and will. However, how much does a speeding ticket increase insurance will depend on how severe your violation is.
If you happen to be ticketed for speeding, how much you were exceeding the speed limit will be taken into account before determining your insurance rate. For instance, a driver driving 10 miles above the fixed speed limit will have higher car insurance premiums compared to a driver driving for 5 miles above the fixed speed limit.
“The more you speed, the higher the chances of you meeting with an accident” is what car insurance companies believe in. Therefore, they make it a point to increase the premium rate for those who are likely to meet with accidents.
However, a long-time driver who have had a clean driving record throughout the years with one speeding ticket will be provided with lower car insurance premium, compared to drivers who constantly get speeding tickets.
If you happen to be ticketed for speeding in a different state, it will still affect your car insurance premium. Most companies, even from different states have an internal database system on which they can share information regarding traffic tickets. So, whichever state you receive a speeding ticket from, it will still show up in your driving record, eventually affecting your car insurance premiums.
For speeding, usually the increase on the car insurance premium will be between 11 percent and 15 percent. Though, for other serious violations like reckless driving, the increase in premium can go up to 22 percent.
To know how much does a speeding ticket increase insurance, a driver should survey on a few different companies prior to deciding on taking the car insurance. With the help of a few meetings and phone calls, a driver will be able to find out how much does a speeding ticket increase insurance. All companies usually have different rates. Hence, it is important to call up different companies and ask them how your speeding ticket will affect your car insurance premium. You can of course start with a question that sounds like this: “Will a speeding ticket increase my insurance?” By doing so, you will be able to find out if the company practices increasing insurance premiums based on speeding tickets.
There are a few ways by which you can avoid higher insurance premium. One of them would be erasing your speeding violation from your driving record. There are several states that require you to complete an online course in order to erase the speeding ticket from your driving record.
Of course, the best way to avoid higher car insurance premium is by obeying traffic rules at all times. By doing so, you will be able to prevent accidents and violations, while keeping your driving record clean.