Will a Speeding Ticket Increase My Insurance?

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When you get a speeding ticket, paying for the ticket might be only a fraction of the overall cost, depending on where you live. This is because some car insurance companies will increase the cost of your car insurance after you get a ticket. These increases could cost you more than $1,000 over the next few years.

Location

  • State laws governing the auto insurance industry will affect whether your insurance company can increase your insurance premiums. In some states, the company might not be able to increase the premium at all after your first speeding ticket. In addition, if you get a ticket in a state outside of the one in which you reside, there is a chance that your insurer will not check the out-of-state driving records and therefore will not find out about the ticket.

Cost

  • The cost increase on your auto insurance premium is not a standardized amount. It will vary depending on how your insurer calculates premiums. For example, if you are currently getting a good-driver discount on your insurance policy, your speeding ticket is likely to negate that discount and increase your cost, sometimes by as much as 20 percent. Additional speeding tickets typically each come with another rate hike.

Time Frame

  • The speeding ticket will probably not increase your insurance premiums right away. This is because car insurance companies do not check up on their customers' driving records every month. However, next time your policy renews, or next time you call to make a change on your policy, your insurer will likely discover the speeding ticket on your driving record. The ticket remains on your record for three years, so if your policy renews right after you get the ticket, you could be paying higher premiums for three full years.

Solutions

  • Before paying the ticket, go to traffic court to try to have the ticket dismissed. Some states require that the issuing officer be present, and if he misses the time slot, you will be off the hook. In addition, contest the validity of the method the officer used to determine your speed. If you do have to pay the ticket, contact your state department of motor vehicles to find out whether you can go to traffic school to remove the ticket from your driving record. You will likely have to pay for the course, but the cost is small compared with an insurance rate increase.

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