Your driving record is one of the biggest influences on your auto insurance premiums. How you drive can affect how much you pay to cover the vehicle, as the higher likelihood of a wreck or claim can mean paying more to the insurer.
This is because the insurer calculates your premiums primarily based on risk. The more at risk you are to file a claim and cost them money, the more you may pay for auto insurance in order to balance out that risk.
For this reason, speeding tickets may cause your auto insurance rates to rise.
How Much Does Speeding Affect Your Car Insurance Rates?
Speeding tickets may cost you a 5% to 10% rise in your car insurance rates, but this varies depending on where you receive the ticket and the circumstances of speeding. A first-time speeding ticket that is for driving less than 15 kilometers an hour over the speed limit likely won’t affect your car insurance premiums much, if at all. Multiple offenses can add up to hefty increases, however, and too many can even risk your auto insurance policy being cancelled if you are considered too high risk to insure.
Even a second speeding ticket may add 15% to your rates no matter how fast you are going over the speed limit.
How Long Does a Speeding Ticket Stay on Your Driving Record?
The length of time that a driving violation remains on your record varies depending on your location, but on average, a speeding ticket may remain on your record for about three years. This means that a single speeding ticket can still affect your car insurance rates three years later.
If you have a violation or ticket on your record, it is crucial to avoid adding any more, as compounding violation after violation can make your premiums skyrocket, as well as sending red flags to your insurer. If your policy is cancelled due to too many violations, it can make it difficult to find another auto insurance policy—especially an affordable one.
Make sure to follow the requirements of any court given to you due to a violation. After the time limit is up, you may see a related drop in your car insurance premiums as the violation leaves your record. This applies to accidents and DUIs, as well, although these last on your record for varying lengths of time.