How Does Speeding Affect Car Insurance?

2How Does Speeding Affect Car Insurance?

Speeding tickets are one of the most common types of traffic violations. Whether or not your premiums go up after getting a speeding ticket depends on the company, your driving record and the violation. Regardless, having a good driving record is a great way to keep your car insurance costs down.

High Speeds Increase Risk Of Accidents

Speed is a contributing factor to most car crashes, and drivers who are frequently involved in accidents can find themselves paying higher insurance premiums. It’s because insurers don’t like risk and view these drivers as higher-risk prospects. After all, high speeds can make accidents more deadly for everyone involved, including other motorists and pedestrians. It’s also a major cause of damage to vehicles and property. In addition, speeding greatly reduces a driver’s reaction time and can lead to more severe injuries and collisions. This is why it’s essential to drive safely and obey the speed limit.

Speeding Tickets Increase Insurance Premiums

One speeding ticket doesn’t seem like much, but if you rack up a bunch of tickets in a short period of time, your insurance rates will go up significantly. The rate increase will depend on several factors, including your age, vehicle type, and how many other traffic violations you have. Having more than a single speeding ticket within a three-year period can lead to an even higher rate increase. This is especially true for people who have a good driving record. The good news is that most speeding tickets are minor offenses, and they typically drop off of your driving record after a few years. However, some states tie certain types of violations to points on your license, which can have a larger impact on your insurance premiums.

You Could Even Lose Your License

Speeding tickets are a common problem for many drivers. They are a hassle to deal with, they can raise your insurance rates, and they can even result in a suspension of your license if you fail to pay the fine or appear in court. In New York for example, a driver can lose his or her license after three speeding convictions within an 18-month period. If a driver receives two work zone speeding tickets in a given 18-month period, his or her license will be suspended for 60 days. The number of points a driver accumulates from traffic violations is also a factor. For example, a speeding ticket for driving 10 miles per hour or more over the speed limit will result in three points. However, a ticket for speeding 31 or more miles per hour over the limit will result in 11 points. The good news in all this is that most states give you a chance to get your license back. It takes a little extra work and money to restore your driving privileges, but it is possible! Harvey Sarles Insurance Agency can help, so contact us now!

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