How Will a Speeding Ticket Affect Your Insurance Rates

How Will a Speeding Ticket Affect Your Insurance Rates

Consider the number of factors at attribute to the overall cost for insurance. For example you’re driving history and record. What most people fail to realize are those speeding tickets have a huge impact on your auto insurance rates overall.

According to studies that revealed that speeding is the most important factor to nearly 35% of auto accidents. Obviously this means the slower we drive the safer it is and it reduces the chances of an accident. Aside from the safety factor of slowing down it has also been established that the majority of speeders occasionally reduce their speed after receiving at speeding ticket. In most case this is short lived! According to this study which tracked a speeder for a month after receiving a speeding ticket reduced their chances of a fatal accident by to less than 35%. Unfortunately the speeder did not maintain safe driving habits for much longer than a few months.

Basically what this shows along with other studies is the fact that habitual speeders have over a 50% chance of being fatally injured in a car accident than an individual who obeys the traffic laws. This is the reason why law enforcement mandates insurances and is heavy on speeders. Not to mention why insurances companies raise the rates for people with a history of speeding. Here are a few factors to consider when factoring in the cost for insurance rates with a speeding ticket:

One speeding ticket will not affect your insurance rate, unless you’ve been citied for extremely high speeding rate of over 15 miles above the legal speed limit as posted. This will be a combination citation to include reckless driving.

Depending on your previous driving record, for example a clean record, one ticket can increase your insurance rate by at least 27% .

When you receive a speeding ticket one point is added to your record when an accumulation of these points are noted over a three year period expect to see an increase in your premium upwards of thousands of dollars.

When you have multiple speeding tickets and points switching from your current insurance carrier to another wont prove advantageous under the circumstances. Basically your current carrier would be best to work out a deal with, especially if you have a long term history with the company.

It’s always a wise choice on your behave to fight speeding tickets. There a good chance you could win the case or get lucky enough to have the charges drop on technicalities. In this case there’s no real need to get an attorney. Just a little common sense and never admit your guilt.