More than half of American drivers speed, according to the most recent national traffic speeds survey conducted by the United States Department of Transportation.
Law enforcement around the United States use a variety of methods to keep speeders in check—everything from radar to laser devices to aircraft. If you get caught, you’re likely going to have to pay a fine.
And there’s likely more financial pain from a speeding ticket: The national average car insurance rate increase for drivers who get a speeding ticket is 21%.
That 21% increase amounts to a nearly $350 increase in annual car insurance rates. And a rate increase due to a speeding ticket can follow you around for a few years, depending on the state you live in.
How Does a Speeding Ticket Affect Car Insurance?
Car insurance companies look at your driving record when setting rates. People with traffic violations, like a speeding ticket, are seen as a higher risk for car insurance claims, which results in higher car insurance rates.
Speeding results in property damage, injuries and also fatalities: Speed is a factor in nearly one-third of all fatal car crashes in the last two decades, according to the National Highway Traffic Safety Administration.
If you get a speeding ticket, your insurance increase will depend on several factors, such as:
• Your prior driving record, including traffic violations and at-fault car accidents
• Whether your speeding ticket was a first offense
• The amount of time since your last moving violation
• How many miles you were speeding over the limit
• The location where the violation took place
A rate increase will be applied when you renew the policy or get a new insurance policy.
How Much Do Car Insurance Rates Go Up After a Speeding Ticket?