How Do Speeding Tickets Affect Your Auto Insurance?

By Author: Elle Perkins
Total Articles: 36
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Driving is one indispensable activity in the modern age. Despite the risks involved in driving, danger is not inherent in it. When one is armed with precautions and training before hitting the road, driving would be more fun and convenient rather than a pain in the head. But sometimes, some drivers slack a little. Thinking that minor infractions are just, wellminor. Getting a speeding ticket for example is nothing but minor. In the long run, it affects your driving history and as a consequence, the auto insurance rates you pay.

From insurance companies' perspective, speeders are more reckless and have a greater likelihood of causing future accidents. If you say, why would they care if you meet accidents? It's your life right? Well, insurance companies may have altruistic concerns on your life, but they are in the business as well of less altruistic concerns. That is, insurance companies work on the premise of charging more those policyholders who may need to frequently claim damages and administrative fees from them. Thus, if you're one who collect speeding tickets, insurance providers slap a surcharge on you ...
... to cover this risk of future expenses for the company. For some drivers, this surcharge can even be considered a deterrent for less than careful driving.

And the surcharge you pay to the insurance company for being caught on speeding is not a one time pay. You carry the rate for 3 to 5 years, depending on which state you are driving. And the ticket stays in your driving record, and would be referenced by auto insurance providers from coast to coast, state to state. For the first violation, your premiums may step up only a little, but subsequent driving misdemeanors will cause you higher surcharges. Second violations, according to industry estimates, cause your rates to increase by 40 percent, up to 60 percent over that original base rate for third time violations.

MSN Money reports "an experienced driver in California with a single-car policy and a good driving record, [pays] the average rates statewide for liability, collision and comprehensive coverage, $765 annually. If you were a Prudential Financial customer you'd get a 25 percent good-driver discount and pay only $574. One speeding ticket would mean a roughly 27 percent increase from the base premium...a $207 annual increase or $621 more over three years."

Of course, you still have some recourse in the short-term for this skyrocketing increase in premiums. First, try to defend yourself against the speeding violation slapped on you. You might get a decision from a judge downgrading your offense, which will save you money. We suggest that you go through the process of traffic court, instead of simply sending in a check. Second, ask if ticket forgiveness in exchange for traffic school attendance is offered in your state. It may need some hours from you during the weekends but it costs nothing compared to the surcharges you'd pay for your calibrated auto insurance premiums. The certificate of completion in traffic school can submitted to the insurance company as proof. Third, see if your case falls within a minor moving infraction (going a few miles an hour over the limit). Some states consider dismissing the ticket if this is the case, added to your clean driving history.

In the longer-term, shop around for other auto insurance providers who can provide you with a better rate. Take the opportunity of getting a speeding ticket as a blessing in disguise. You might need to break free from your current car insurance provider. Also, nothing beats driving safely and defensively. After all, it is your behavior and circumstances that both influence your auto insurance premiums.
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