After a speeding ticket, you may see insurance premium ramifications for three to five years, on average. A speeding ticket on your insurance record could also have significant impacts on your auto insurance rates. The average annual premium increase is 21% for a speeding ticket conviction.
It can be helpful to understand how a speeding traffic ticket affects your auto insurance premium, policy eligibility and driving status. Knowing the ramifications of a citation before you get one could help you if you are convicted of speeding and might help you find ways to lower your premium.
- A speeding ticket conviction increases the average annual car insurance premium by 21%.
- A speeding ticket impacts your car insurance rates for an average of five years.
- You may be able to save on auto insurance by bundling policies, shopping around or taking a defensive driving course.
Speeding tickets and auto insurance premiums
When it comes to speeding tickets and auto insurance rates, an insurance provider will typically evaluate driving records to determine what level of risk you present. A speeding ticket conviction on your motor vehicle record (MVR) means that insurance companies may view you as a higher risk. To compensate for this risk, you could be charged a higher premium depending on how recent the ticket occurred.
The Department of Motor Vehicles (DMV) in all 50 states and Washington, D.C. keep track of traffic violations using a point system. Each state and the District of Columbia has its own rules for the point system and the point threshold for traffic ticket severity. No matter where you live, when you are convicted of a speeding ticket, a certain number of points will likely be assessed on your driver’s license. The number of points could depend on how far over the posted speed limit you were traveling. In many states, the more you are in excess of the speed limit, the more points will be assessed to your driving record.
Many drivers who are convicted of a speeding ticket see an increase in auto insurance costs upon their next renewal. Although the national average increase for full coverage rates with a speeding violation factored in is about 21%, according to Quadrant Information Services, this can vary based on a number of factors. Each auto insurer sets its rates, so the company you choose will have an impact on how much you pay. Additionally, other incidents on your driving record can affect your premium.
|Pre-speeding ticket annual premium||Post-speeding ticket annual premium||Percent increase|
Speeding tickets and auto insurance eligibility
Having a speeding ticket on your record may affect more than just how much you pay for insurance — it could affect your eligibility for coverage with various car insurance companies. But how long does a speeding ticket affect your auto insurance premium? To determine your driver risk level, insurance companies will evaluate your MVR and Comprehensive Loss Underwriting Exchange (CLUE) report to learn how many accidents, tickets and other incidents such as DUIs you have had in the past three to five years, on average. Each company will have its own underwriting guidelines dictating how far back they will assess your motor vehicle record.
The number of incidents and the severity of these incidents may also influence your auto insurer when it is determining your premium. The more tickets and other incidents you have on your MVR and CLUE, and the more severe those incidents are, the higher chances you encounter auto insurers who decline to write your policy. This can become further complicated if your driver’s license was suspended. Finding auto insurance coverage with a suspended license can be tricky, but it is possible. You may need to choose an auto insurer specifically geared toward insuring high-risk drivers.
How long does a speeding ticket stay on your record?
Auto insurers typically consider speeding tickets listed on your MVR within three years as rating factors but it may be more with certain carriers.
Getting a speeding ticket not only impacts your insurance premiums, but it could significantly affect other aspects of your life and your wallet. You may be wondering, “How much does a speeding ticket cost?” The answer is not straightforward. After a citation, you may have to pay court fees, fines and attend a driving safety program. Depending on the severity of your offense, your license may be suspended, and there could be an additional fee to reinstate it. The cost of a speeding ticket can vary based on your state, how fast you were driving above the posted speed limit, how much your insurance increases and what financial penalties you may face from the city, county or state where your citation was issued. Understanding your state’s laws can help prepare you for the aftermath of a speeding ticket.
How to save on car insurance with a speeding ticket
Although your premium will typically increase after you receive a speeding ticket, there are ways you can save on your auto insurance. Many carriers offer discounts that can help offset the increased costs of auto insurance after a speeding ticket. Here are a few ways to potentially save on car insurance if you are being impacted by a speeding ticket:
- Shop around: Every company has its own rating system, which means some companies might rate your speeding ticket more heavily than others. Getting quotes from several companies might help you find a carrier that offers you the same coverage for less.
- Take a defensive driving course: Some auto insurers offer a discount for drivers who complete an approved defensive driving course or a driver’s education program. This discount is not available from all companies or in all states, so be sure to talk to a representative from your company or your insurance agent before you sign up for a course.
- Bundle your policies: Most insurance companies that provide multiple lines of insurance, like home and auto policies, offer a savings opportunity for buying more than one type of policy. For example, if you have a home and a vehicle, buying both policies from the same carrier will typically generate significant savings on each.
- Take advantage of discounts: Most companies offer discounts to help drivers save on their auto insurance. In addition to the bundling discount, some common savings opportunities include going paperless, signing up for a usage-based insurance telematics program, being a good student and having a vehicle that is equipped with certain safety features.
Speeding tickets are one of the most common traffic violations, and having one on your record can have significant financial and practical impacts on your life. Depending on the state you live in and the amount you exceeded the speed limit, as well as the total number of points accumulated on your MVR, you may be dealing with the fallout of a ticket for several years. Thankfully, most auto insurers often offer discounts or savings opportunities that can help lower your insurance cost after a speeding ticket.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver 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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
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.