When does your premium increase after a speeding ticket?

Question

When you get your first speeding ticket, your driving record will take a hit and you might see your car insurance rates increase. A speeding ticket could also cost you extra money in fines and court fees, depending on how fast you were going and if you decide to fight the charge.… read full answer

Even though the financial impact of a speeding ticket can be frustrating, your driving record and insurance premium will eventually recover if you practice good habits on the road moving forward.

What Happens to Your Insurance When You Get Your First Speeding Ticket

Your costs could rise between 20% and 30% but the exact impact on your insurance premium will depend on your driving history and how fast you were going.

Any cost increases will come when it’s time to renew your policy, although your insurance company might be lenient if it’s a first offense and very low-level speeding.

You will no longer qualify for your insurer’s good driver discount if it’s based on moving violations.

Speeding tickets only stay on your driving record for three to five years, so if you practice safe driving moving forward, your costs will eventually go back down.

You can avoid higher premiums in some states by going to traffic school to have the ticket removed from your record.

How to Deal With Your First Speeding Ticket

The most important thing to remember after getting your first speeding ticket is that you shouldn’t ignore it. Ignoring a speeding ticket can lead to the state adding points to your license, increasing your fines, suspending your license, or even having you arrested.

When you get a speeding ticket, you have the choice to either pay the fine or fight the ticket in court. In some states, you can also choose to complete traffic school in order to reduce the fine or remove the ticket from your driving record altogether.

Although you’re not required to immediately tell your insurance company about a speeding ticket, they will eventually find out about it when they pull your driving record prior to renewing your policy. You should contact your insurer after you’ve received a ticket in order to find out how your costs might be affected.

The best way to avoid the burdens of a speeding ticket is to avoid getting one in the first place. Always be sure to plan ahead, pay attention to road signs and watch your speed to avoid being issued a citation that could wreck your insurance costs.

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Answer 1 · 2020-06-12 03:59:41

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Sydney Garth, Credit Cards Moderator

@sydneygarth • 06/12/20 This answer was first published on 06/12/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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After a speeding ticket, your premium increases around the time you renew your policy. Your speeding ticket gets added to your driving record immediately, but your insurer doesn't find out about it until they check it. And this usually happens when you renew or change your policy.

Answer 2 · 2020-06-12 04:02:45

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Scott W. Johnson, Manager and Principal Broker Agent

@Marindependent1 • 06/12/20 This answer was first published on 03/16/16 and it was last updated on 06/12/20.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Thanks for the question.

The first question, how long?, really depends on your insurance company. Differrent insurance companies operate in slightly different ways. Some I have noticed are very quick to notice, others not so quick.

Your last question is a bit easier to answer. Is it possible they won't find out (that you go a ticket)? Yes it is possible, although, now adays not all that likely.

Also in regards to this question, It is also possible that they may find out and NOT still not raise your rates. I can think of two scenarios that I know of when this happens. 1. One Ticket is just dropping off, while a new one comes on. 2. Some Carriers, such as an occasional Affluent Insurance carrier, sometimes will not nickel and dime you over a single ticket. However, these carriers are typically not the cheapest option anyways.

When does your premium increase after a speeding ticket?

Sydney Garth, Credit Cards Moderator

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Scott W. Johnson, Manager and Principal Broker Agent

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