How a speeding ticket impacts your insurance in Colorado
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In one of the most recent comprehensive studies of speeding in Colorado, it was reported that motor vehicle fatalities related to speeding increased steadily from 2013 to 2017 with the most dramatic increase (8%) occurring between 2016 and 2017. In that last year, speeding was a factor in 35% of all auto fatalities.
Speeding can also be costly in Colorado. For example, a conviction for driving 25 miles per hour in excess of a posted speed limit can result in a fine up to $1,000 and at least 10 days in jail. Insurance premiums are impacted as well by speeding. A speeding ticket increased the average cost of car insurance in Colorado by 15%, according to Bankrate’s 2021 study of quoted annual premiums.
How much is a speeding ticket in Colorado?
Like most other states, speeding penalties imposed in Colorado increase significantly as the speed increases. At the low end, if you are ticketed for driving under 5 miles per hour over the speed limit, the fine is only $30. For driving:
- 5 to 9 mph over the speed limit, the fine is $70.
- 10 to 19 mph over the limit, the fine is $135.
- 20 to 24 mph over the limit, the fine is $200.
A conviction for driving 25 miles per hour or more over the speed limit is a criminal misdemeanor and can generate a fine between $300 and $1000 and potential jail time from ten days to one year.
How much does a speeding ticket increase your car insurance in Colorado?
Usually a speeding conviction will increase your auto insurance premiums in Colorado. Because males have been statistically shown to be higher risk drivers than females, premium increases may be higher for men. As the chart below shows, this is certainly true in Colorado.
Average annual full coverage premium
|Age||Rate before speeding ticket||Rate after speeding ticket||% increase|
Speeding costs are high in Colorado. A serious offense can also bring the risk of spending time in jail. On top of this, attorneys’ fees add up fast. There are certain steps that can be taken to alleviate some of these costs but the best course remains to simply avoid speeding in the first place.
How to lower your car insurance after a speeding ticket in Colorado
There are a number of proactive steps that can be taken to mitigate the consequences of a speeding ticket. Remember that you are not the first to deal with this situation.
Get quotes from other car insurance companies
There are many factors that auto insurance companies consider when determining rates for policies. As with most decisions, it is always useful to compare a number of options. Obtaining quotes from several good car insurance companies and comparing them will help you find the best option after receiving a speeding ticket.
Average annual full coverage premium by car insurance company in Colorado
|Car insurance company||Rate before speeding ticket||Rate after speeding ticket|
|Colorado Farm Bureau Insurance||$2,870||$1,481|
*Premiums are average annual full coverage premiums for 40-year-olds
Online resources to assess your needs and options can be invaluable when facing a potential rate increase. Use these, as well as conversations with car insurance representatives, to assist you in comparing the strengths and weaknesses of various companies. In particular, focus on car insurers financial, customer service and claims handling ratings.
Search for discounts
There may be many discounts to help reduce car insurance premiums. For example, you should find out if your current insurer offers home insurance and if so, does it provide a “bundling” discount if you combine home and auto coverage? There may be a number of other available discounts based on the type of vehicle you drive, your location, your age and other factors.
Adjust coverages, limits and deductibles
Most states require that drivers secure minimum limits of liability coverage. Colorado follows this trend but there are typically no restrictions on modifying the comprehensive and collision coverage that address financial consequences from damage to your own vehicle. Assuming you do not lease your vehicle or have a lender who requires this coverage, reducing these limits may help to save you money.
You may be able to reduce your premiums by increasing various deductibles. Also, if you have reduced your use of a vehicle, ask whether your car insurance company will adjust rates based on the estimated number of miles driven annually.
Other speeding ticket considerations
You always have the opportunity to contest a speeding ticket in court and if you feel that you were not speeding or there is a reasonable explanation for your behavior, it may be worth the time in court.
There are other consequences to consider in weighing your options. Colorado employs a point system which adds points to a driver’s record based on the severity of an infraction. With speeding violations between 5 and 9 miles per hour in excess of the posted speed limit, a single point is added to a driver’s record. For violations between 10 and 19 miles per hour over the posted speed limit, four points are added. Six points are added for infractions between 20 and 39 miles per hour over the speed limit. These accumulated points will impact insurance premiums and can lead to a license suspension.
Frequently asked questions
What is the best car insurance company for drivers with speeding tickets?
There is no single best car insurance company for all drivers who are dealing with a speeding ticket. A number of factors unique to each individual come into play and the best approach is to obtain several quotes from reputable and recommended insurers in Colorado. Comparing these quotes will help you determine the right coverage to best meet your needs.
Am I required to tell my insurance carrier about a speeding ticket?
No, you are not required to voluntarily disclose a speeding ticket to anyone, including your insurance company. However, it is likely that your auto insurance company will discover the ticket during a policy renewal.
How do I check points on my license in Colorado?
You can purchase their driving record from the DMV in Colorado which will show all of the points accumulated. This process can be completed online or the history can be ordered at your local DMV.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 18-year-old and 40-year-old male and female drivers with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction and lapse in coverage.
These are sample rates and should only be used for comparative purposes.
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied.
Gender: The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, North Carolina, Pennsylvania.