You’re running late to work. You’re rushing. In order to get there on time, you need to go just a little bit faster than you’re supposed to. Then, it happens—you get a speeding ticket!
Over the past 20 years, speeding has contributed to almost one-third of all fatal car accidents. A total of 29% of all traffic fatalities in 2020 contributed to speeding. So speeding tickets are actually quite common, but that doesn’t mean it’s no big deal. Not only will you need to pay a hefty fine and get points on your license, but you’ll also be dealing with the effects of this for years to come in the form of higher car insurance costs.
Yes, speeding tickets often increase the amount you pay for your Texas car insurance. This is because speeding tickets are considered part of your driving record. Insurance companies check your driving record and use this information to help determine your risk of having an accident or making an insurance claim. The data supports the idea that you’re at higher risk of an accident because of speeding and other traffic violations. This is why a ticket on your driving record usually affects the cost of your insurance. After all, insurance companies make you pay more if they think it’s likely they’ll end up paying out in the future. It’s how insurance works!
The more speeding tickets you have, the more likely you’ll see increases in the cost of insurance. Drivers who receive speeding tickets are considered a higher risk group and therefore be charged more for car insurance even if they haven’t made a claim to their insurance company yet. In the mind of the auto insurance carrier, it’s only a matter of time before someone who drives too fast causes an accident. If you have too many risky behaviors, you’ll pay for it—literally.
What Can Spike Your Insurance
The amount that your auto insurance will increase after a speeding ticket is not always the same. Some factors that will be taken into consideration for a price hike include:
#1 Your Prior Driving Record
Was this ticket your first offense? Or have you gotten many speeding tickets in the past? The number of speeding tickets you have on your record will affect the price increase. The first ticket may not result in a huge increase, but if you have several, it will add up.
#2 Amount of Time Since Your Last Moving Violation
As the years pass, it slowly lowers back down. This is because the insurance company will see that you learned your lesson and have been driving safely since then. Time heals all wounds, even speeding tickets on your driving record. But if not too much time has passed since your last ticket, they will assume you’re still a risk on the road.
#3 How Many Miles per Hour You Were Going Over the Speed Limit
Going ten over is against the law, but going 50 over is seen as extremely risky behavior! If you only went a few miles over the limit, the price increase would be smaller. But if you were way over, the company would assume you’re more likely to get into an accident.
#4 Location Where the Violation Occurred
Speeding in a school zone or construction zone is considered worse than going a little too fast on the highway. This is because there are usually more people around, and the potential for an accident is higher. You can expect your insurance rates to increase if you get a ticket in a high-risk area.
#5 Your Insurance Company’s Policy
Some insurance companies are stricter about raising rates for speeding tickets than others. So, it depends on which company you’re with. If you’re unhappy with the way your company handles speeding tickets, you can always shop around for a new one.
I Have a Speeding Ticket, Now What?
All is not lost and you won’t have expensive car insurance forever. If you have received a speeding ticket, there are things you can do to help lower the cost of your auto insurance over time.
For one, focus on safe and slow driving so you don’t receive another ticket. The better your driving record is, the lower your premiums will be. One speeding ticket won’t be the end of the world, but regularly getting one could cause a major problem with your car insurance.
Another option is to contact Pronto Insurance and discuss your car insurance policy details. If your car insurance premiums have increased, you could reduce those costs by changing your coverage. Whether this option is right for you will depend on your insurance needs. One of our friendly and knowledgeable insurance agents will be able to provide more information to help you decide about your Texas car insurance coverage.