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Auto Insurance Information Center

August 2012

What happens to my insurance if I get a speeding ticket?

Though it can be unnerving, you need to remember that you aren't the first person to get caught exceeding the speed limit.

What happens to my insurance if I get a speeding ticket

The good news is that if you are over twenty five and this is the only ticket on your record (in the last three years) chances are it will make little difference to the rate you pay for auto insurance. With that in mind, while speeding tickets aren't unusual, they are definitely not something to overlook. Here are some answers to common questions about how your insurance may be affected if you receive a speeding ticket.

How will it affect my insurance in the short term?
While it may vary from company to company, often a speeding ticket won't have an immediate effect on your insurance rates. This happens because most insurance companies do not look at your driving record every month, but do so when your contract is initially purchased or renewed. If your driving record shows a speeding ticket when trying to purchase insurance you'll likely be charged more. If they notice it when the renewal occurs, your rates are likely to increase as well.

The effect of multiple speeding tickets on your insurance
While getting a single speeding or traffic ticket may not drastically increase your insurance costs, getting several in a short timeframe - or even a span of a couple of years - can create significant problems. Each additional ticket after the initial one will most likely cause a much larger increase in your car insurance rates. This situation can also affect your ability to maintain an insurance policy with your current company. For example, if you have a history of numerous speeding tickets and/or additional traffic accidents, your insurance company may consider you too high of a risk and cancel your insurance policy. Once this happens, it can be much more expensive to get insurance, no matter what company you try.

Why would a speeding ticket affect my insurance?
The way a ticket affects your insurance is simple: it is because your insurance company now considers you to be a higher risk to insure. According to the National Highway Traffic Safety Administration, drivers who received a ticket for speeding are more likely to be involved in an accident than those who haven't. Statistically speaking, since getting a speeding ticket usually correlates to being more likely to be involved in an accident, your insurance rates will go up to help the company offset the increased risk of you filing a claim in the future.

One of the best ways to ensure you don’t get a speeding ticket - slow down. You'll be safer, less aggravated, save on fuel along with reducing wear and tear on your vehicle. Plus, without speeding tickets on your record you'll pay less for insurance, and that's something everybody enjoys.

Sources: www.nhtsa.gov; msn.money.com; www.iihs.org

Please note that these are general guidelines for what may happen if you get a speeding ticket. The potential impact of a speeding ticket can vary by insurance company.

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