If you feel the need for speed while driving, chances are you’ve gotten a speeding ticket or two. Or maybe you just didn’t realize the speed limit and the police happened to catch you. Whatever the reason for getting a speeding ticket, you’ll get hit with a monetary fine and, most likely, your car insurance will go up—especially if you have more than one ticket.
So just how much is the insurance cost of speeding tickets and how long does your speeding ticket stay on your record? For more information on what you can expect with your car insurance after you receive a speeding ticket, check out the details below.
What Is the Cost of Getting a Speeding Ticket?
With more than 196 million drivers in the U.S., it’s inevitable that some of those drivers will get speeding tickets. In fact, one in every six drivers receive a speeding ticket each year. That’s around 41 million speeding tickets in a year, amounting to more than $6 billion in fines alone.
But a speeding ticket costs more than just a fine. It can also result in an increase in your car insurance premium. This is because insurance companies consider you a bigger risk if you get a speeding ticket.
The increase in your car insurance premium after getting a ticket depends on the state where you live, but on average these rate increases include:
- Speeding in general: $379 (24.5%)
- Going 16–20 mph over the speed limit: $386 (24.9%)
- Going 21–25 mph over the speed limit: $461 (29.7%)
- Speeding in a 65-mph zone: $428 (27.6%)
Fortunately, if your insurance rates do go up following a speeding ticket, you can look for more affordable insurance.
How Long Does a Speeding Ticket Affect Your Car Insurance Rates?
Depending on your state, you also receive points against your driving record. Too many points in a certain period of time can cause you to lose your license. Worst of all, these points can stay on your driving record for up to 10 years. And while some insurers might forgive a first-time offense, not all do.
The speed you are going over the posted limit can also play a part in whether you will see in increase in your annual car insurance premiums or not.
The Effects of Multiple Speeding Tickets on Your Car Insurance
Unfortunately, getting more than one speeding ticket within a short period of time does affect your rates. In the eyes of your insurance company, multiple speeding tickets in a given period of time increases the risk you pose.
The best tip: Don’t speed! But you can also take some other steps to help reduce the impact of your speeding ticket on your car insurance premiums. This includes taking a defensive-driving course, which can get you a discount with your insurance company to help offset the premium increase.
You can also ask your insurance agent about additional discounts your insurance company offers to help offset the increase.