If you’ve ever wondered how a speeding ticket affects your car insurance rates, you’ve come to the right place for answers. Often times, people really don’t understand why their premium will go up for something that seems so minor. Sure, your speeding might not have resulted in an accident, but the cold hard facts are that it could have. Is it even possible to find cheap car insurance even with a history of speeding violations? Read on to learn all that you need to know.
Minor vs. Major Violations
Insurance companies break down all types of traffic tickets into two categories: minor violations and major violations. The minor, of course, being for things such as illegal lane changes, failure to stop or yield and going over the speed limit by 10mph or less. The major violations consist of things such as DUI, going faster than 10mph over the speed limit and driving on the wrong side of the road. Depending on the state you live in, however, the above stated violations can vary. While some officers may give you a 10mph grace period, others may not be as flexible.
Lots Of Speeding Tickets = High Risk Driver
Now, back to how a speeding ticket affects your auto insurance rates. Speeding tickets on your record tell insurance companies that you’re a risk to other drivers. Basically, a driver with a heavy foot is more likely to cause an accident than a driver that adheres to the law. This outlook is why a speeding ticket will affect your auto insurance premium. In order to keep your rates in a comfortable range, you need to keep your speed in a comfortable range.
With this said however, it’s not necessarily the premium that insurance providers want to raise. What they really want to raise is your maximum justifiable rate, or MJR. This is the rate they can only raise when you give them reason to. Speeding, is definitely one of the biggest reasons to. Too many speed violations might just up your premium now, but those violations will also the stage for higher rates in the future, especially if you plan on acquiring a new vehicle. Your driving record stays with you and yes, insurance companies can use that to make you pay more.
Your Age As A Factor
Another factor to consider before slamming the pedal to the metal is your age. If you are under the age of 25 – beware. The younger you are, the harder you have it. Even one speeding violation can have you paying high premiums through the nose. On the flip side, if you are an older driver, too many speeding violations could cost you any senior discounts your insurance company may provide for having a clean driving record.
To put it bluntly, if you decide to speed, you will never need to wonder about how a speeding ticket affects your car insurance ever again. Unfortunately, you will get to experience it first hand. The bottom line is that speed limits are set for the safety of everyone. If you wish to avoid paying high car insurance costs, then slow it down a bit. Not only will it keep your insurance rates wallet friendly, but it will also keep you, and those around you, safer while on the road.
Find Cheap Car Insurance Rates No Matter Your Driving History
It is still possible to find cheap auto insurance rates even with 1,2 or even 10 speeding tickets in your past. They key is to shop around and compare rates from many different insurance companies. Not all companies handle speeding violations the same way so you can save a good deal of money by shopping around.
By James J. Robinson Submitted On July 18, 2008
At Agnew Insurance Agency, we represent many different automobile insurance companies and can blanket your information out to all of them to find the best rates. Give us a call at 269-488-5907 or visit us online at www.check-my-insurance.com.