The Impact of a Speeding Ticket on Your Car Insurance

Speeding is a common problem for many drivers. In fact, according to the United States Department of Transportation, more than half of all drivers in the country speed. If you are caught speeding by local law enforcement, however, you will likely pay a hefty fine and it is likely your financial troubles will not end there. According to Forbes Advisor’s analysis, car insurance rates increase by about 21% for drivers who receive a speeding ticket and, unfortunately, this rate hike can linger for a few years.

Speeding and Car Insurance Rates

If you are shopping around for car insurance or you have a renewal coming up, your car insurance company will look at your driving record and, if they see a traffic violation, you will be perceived as a higher risk for insurance claims, resulting in more substantial insurance rates. Speeding tickets have such a severe impact on insurance rates because speeding is one of the leading causes of motor vehicle accidents in the country, often resulting in fatalities, injuries, and property damage.

If you get a speeding ticket, some of the factors that may impact your insurance increase include:

  • Your driving record and any previous traffic violations or at-fault accidents you may have had
  • How many miles over the speed limit you were driving
  • If the speeding ticket was a first-time offense
  • Where the violation took place
  • How long it has been since your last violation

Your rate increase will be applied when you buy a new insurance policy or renew your current one.

Lowering Your Insurance Rate

After a speeding ticket impacts the cost of your insurance, there are some ways to potentially lower it.

Here are some tips on how to accomplish that:

  • Participate in a safe driving course. Doing so can take the points off your record, reducing your insurance rates.
  • Ask about discounts. Just because you got a ticket for speeding does not mean you will not be eligible for any discounts, so do not be shy about asking.
  • Take your time shopping around. Comparing insurance quotes is one of the best ways to save money, so do not settle for the first quote you find.

Contesting a Speeding Ticket

Although you can pay the fine after receiving a speeding ticket, you can also contest it. If you can successfully contest your ticket, you will not have any points added to your driver’s license and your car insurance rate will not increase.

Contact Our Experienced Traffic Ticket Legal Team for a Consultation Today!

If you received a speeding ticket, the legal team at Gannes & Musico, LLP can help you contest it. With more than 30 years of experience and a history of success on our side, you can trust that your case is in good hands with us.

Call our law office today at (877) 803-2603 to schedule a consultation.