Getting a Speeding Ticket

Jan 10, 2024 By Triston Martin

If you have received a speeding ticket in the recent past, you are certainly curious about whether or not your car insurance premiums will go up as a result. After receiving a conviction for speeding, you should expect to pay a higher premium for your car insurance. However, the additional charge you'll have to pay might change depending on your driving record, region, and other criteria.

How Much Does The Premium For Your Car Insurance Go Up If You Get A Ticket For Speeding?

We did a rate analysis for a hypothetical motorist age 35 who was given a ticket for driving 16 miles per hour above the posted speed limit everywhere over the nation. According to our research findings, the average increase in car insurance after a speeding ticket is around 25 percent. A driver convicted of speeding would pay $413 extra per year for full coverage insurance, bringing their annual premium to $2,043 compared to a driver with a spotless driving record.

However, the severity of the financial burden you may face depends on several circumstances, including the state in which you reside and the insurance provider you choose. And although though the vast majority of motor insurance will increase premiums after a ticket receives two or more speeding citations, certain businesses will do so even after a single violation.

After Receiving A Speeding Ticket, The Average Prices For Car Insurance By The Company

After receiving a speeding ticket, you will want to choose the most affordable car insurance provider; however, this may be a different one than the most affordable option for you in the past.

Our research found that some insurance companies increased their premiums for drivers who had received a speeding ticket by more than double. In contrast, others seemed to disregard the information. There was no discernible difference in the cost of auto insurance for drivers with or without a speeding ticket when several smaller regional insurers, such as Kentucky Farm Bureau, Idaho Farm Bureau, and Umialik, evaluated the car's risk profile.

American Family Insurance had the lowest average premium increase after a speeding ticket compared to the other leading auto insurance providers in the United States: less than $22 per month. Farmers and travelers saw the most significant rise in their numbers.

Because it does not share rate data, Liberty Mutual is not a part of our study, even though it is one of the biggest insurance companies in the nation. Although USAA often offers the most competitive prices, membership is restricted to active service members, veterans, and the relatives of both groups. Because of this, we have included its numerical information in this post, but we have refrained from ranking it.

Feel free to search for several options for the most affordable prices. Even if you've had a few warning lights flash in your rearview mirror, shopping around for car insurance and comparing different rates may save you hundreds or even thousands of dollars.

After Receiving A Speeding Ticket, The Average Rates For Car Insurance Vary Greatly From State To State

In New Hampshire, a speeding ticket can only result in an increase of 10.25 dollars in your monthly car insurance costs. But if you are caught speeding in Michigan, where the state average for car insurance rates is already rather expensive, you could have to pay an additional $92 per month for coverage on top of what you're already paying.

After Receiving A Speeding Ticket, Choosing Between The Minimum And Full Coverage

If you have full coverage vehicle insurance and the price you see after receiving a speeding ticket isn't to your liking, consider decreasing your coverage on your policy. According to our research findings, the minimal amount of car insurance necessary after receiving a speeding ticket is often less than half the price of full coverage on average. After receiving a speeding ticket, the following are the average yearly premiums for car insurance:

  • The total cost of a complete coverage is $2,043
  • $710 for minimal coverage

However, before you decide to go with this alternative, give it some critical consideration. You won't have comprehensive damage or collision coverage if you get a basic vehicle insurance policy. This indicates that if you are responsible for an accident, your insurance company will not assist you in paying for the damages to your car. If your car isn't worth too lot, then doing that could make some sense. But if you have a car loan or lease, the lender will almost certainly need you to maintain full coverage on your vehicle at all times.

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