How Speeding Tickets Affect Your Insurance?

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Margaret Huntley 15-11-2021

Does A Speeding Ticket Affect Your Insurance?

how long do speeding tickets affect your insurance

If you’re caught driving over the speed limit, you will be issued a speeding ticket. The consequences of said ticket will likely extend beyond just the fine and affect your insurance rates. Here’s a breakdown of exactly how that ticket may affect your insurance coverage. 

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When and How a Speeding Ticket Raises Insurance Premiums?

A speeding ticket is a moving violation, and is therefore viewed by insurance providers as high-risk behaviour. This is because speeding puts you at a higher risk for an accident. By contrast, non-moving violations, such as parking tickets, typically do not affect your insurance. 

The extent to which a speeding ticket will affect your premiums will depend on a variety of factors:

  • How Fast you Were Driving: The faster you were going, the more risky the behaviour was. Therefore, your rates will increase more if you were going 30 miles over the speed limit as opposed to if you were only going 15 miles over.
  • Your Driving History: If you have a clean driving record with little to no accidents or other violations, then your rates will not be affected that much. If the ticket is a first-offence, some providers may not change your rates at all. On the other hand, if you have a history of accidents and tickets, your rates will increase significantly and your insurer may even choose to drop your coverage. In such a situation finding another insurance provider will be quite difficult.
  • Your Age: Drivers under the age of 25 are automatically viewed as high-risk drivers. This means that drivers under 25 will see greater increases on their insurance after a speeding ticket than a driver over 25 would see.
  • Location the Ticket was Issued: Each state has varying laws and regulations surrounding speeding tickets. For example, in Pennsylvania the average monthly insurance premium increases by $11 after a speeding ticket. But in Michigan the average increase is $90.
  • Insurance provider: Just as different locations have different rules, so do different insurance companies. Inquire with your provider to understand just a speeding ticket will affect your insurance.
  • Whether You Pay your Tickets on Time: If you have outstanding speeding tickets, not only have you demonstrated to your insurance company that you engage in risky driving, but you have also demonstrated that you are unreliable for payments. Such outstanding tickets can lead to a poor credit score, and even license suspension. Both consequences will increase your insurance premiums.
  • Miss out on Cost Reductions: Some insurance providers will decrease your rates as a reward for responsible driving. Having speeding tickets may disqualify you from this benefit.

Though these are some pretty intimidating ramifications, the good news is that your ticket will likely not stay on your record forever. Depending on your home state and insurance provider, the ticket typically drops from your record in between 1 and 3 years, provided that you maintain an otherwise clean driving record. Inquire with your insurance provider about their specific surcharge schedule. 

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What to Do After a Speeding Ticket?

Some more good news is that there are simple actions you can take to ensure that a speeding ticket will only minimally affect your insurance premiums. 

Here’s what to do after receiving a speeding ticket:

  • Drive Carefully: If avoiding an accident isn’t enough motivation for you, practicing safe driving will ensure that your rates don’t increase even more than they already have.
  • Consider Changing Insurance Providers: When it comes to insurance, it’s always a good idea to shop around for the best deal. What was the best deal before, may not be the best deal after a speeding ticket. It may be worth it to switch to a different provider.
  • Switch to Minimum Coverage: Another option to save money after a speeding ticket is to switch to a cheaper policy that offers less coverage. However, you need to be careful with this option because if something does go wrong, you may wish that you stuck with a full-coverage policy. Really consider this decision before making it.
  • Take a Safe Driving Course: Defensive driving or accident prevention courses are a great way to communicate to your insurance provider that you do care about safe driving and these courses often come with a discount. Not to mention such courses will teach you how to avoid future violations.
  • Inquire About Discounts: Insurance companies offer a lot of different discounts such as alumni or veterans discounts. It’s quite possible that there is one you are not utilizing that could counteract the effects of your speeding ticket. Ask your insurance provider about what discounts they offer and see if you qualify.

Doing the research and inquiring with your insurance provider is the best way to ensure that you are receiving the best-case-scenario consequences. 

Margaret HuntleyMargaret Huntley is a creative writing and philosophy student at Western University. She has been working as a freelance writer for over two years and has written about everything from insurance, to poker, to health and wellness for international businesses.