When car insurance companies determine your premiums, one of the biggest factors they look at is your history of traffic tickets. Statistically, when you have a driving record that shows moving violations and speeding tickets, your insurance company views you as a risky driver. For this reason, they raise the cost of your auto insurance.
How will a ticket affect my insurance in the short term?
The good news is that if you’re over twenty-five and this is your only ticket on your record (within the last three years), chances are it will make little difference to the rate you pay for auto insurance. However, it will vary from company to company. Most insurance companies don’t look at your driving record every month, but they do when your contract is initially purchased or renewed. If you notice your renewal cost is higher than your usual rate, you can thank your speeding ticket.
The effect of multiple tickets.
While getting a single speeding or traffic ticket may not drastically increase your insurance costs, getting several in a short timeframe can create significant problems and rapidly drain your wallet. Each additional ticket after the initial one will cause a much larger increase in your auto insurance rates.
The severity counts.
While the adjustments to premiums for moving violations vary among insurance companies and the driver’s records, you can expect to see a bigger rate increase for more serious infractions.
- Driving with a broken headlight is a low-impact ticket.
- A citation for speeding 15 miles per hour over the speed limit can have moderate effects on your car insurance rates.
- A DUI conviction can have severe consequences when it comes to your rates.
Similarly, if you’re ticketed for speeding, your speed matters! Motorists who are driving 15 mph over the speed limit will see tougher fines and a higher auto insurance rate than those who are caught going 5 mph over the limit. Excessive speeding is linked to higher auto accident rates, which makes you a riskier driver to the insurance company. Keep an eye on that speedometer!
Obtaining affordable and reliable auto insurance is imperative to stay safe on the roads! For all of your insurance needs, be sure to contact the professionals at Chambers & Company Insurance Brokers today.