How Long Will a Speeding Ticket Affect an Insurance Rate?
Traffic violations are issued to drivers for many different types of infractions. One common type of traffic violation is speeding. A speeding ticket is a violation that can stay on a driving record from 2 to 3 years depending on the state. An insurance company, however, will use an individual's driving history to base the rate that is used to charge for an automobile policy. Tickets will stay on an individual's driving history longer than the violation on his driver's license.
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Minor Violations
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The severity of the violation for a speeding ticket is a factor when an insurer determines that rate for an automobile policy. Most insurers will forgive the first minor traffic offense such as a speeding ticket that is 1 to 5 miles over the limit. A minor traffic violation is usually one that results in at least two points on a driver's license. However, if a second violation occurs, both of the violations on an individual's driving history will be used to determine the rate.
Driving History
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One of the factors that an automobile insurance company uses to determine the rate to charge for a policy is an individual's driving history. The driving history is a record of all violations, such as speeding tickets, that go back at least 5 years. Many insurers will use violations that go back between 3 and 5 years to base eligibility and rate determinations. This means an individual that has too many violations on her driving history will pay a higher rate or have her application denied.
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Motor Vehicle Reports
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A motor vehicle report, or MVR, is where an insurer obtains an individual's driving history. An MVR is ordered from each state's department of motor vehicles in which the insurer writes business. This is done to verify the information an individual has stated on an application for automobile insurance. Individuals can remove violations from the report by disputing a violation or by taking a driver safety course, or they can wait for the violation to expire from the report.
Discounts
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Many insurers have discounts for good drivers or for those who have one minor violation or less. When an individual receives a speeding ticket, he can lose the discount on his policy. This will raise the cost of the policy until the discount can be reapplied to the policy. Unfortunately, this may not occur until the violation has expired from a motor vehicle record.
Follow-up
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Insurers who renew automobile insurance polices do not re-run a motor vehicle report to see if any violations have expired. Individuals can order their own motor vehicle report and compare the violations to those that have been used to set the rate used for the policy. An individual can then contact the insurer to have him recalculate the premium that is charged for a policy.
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