How Speeding Tickets And Insurance Rates Are Related
Will a speeding ticket raise my insurance rate?
Yes, a speeding ticket can raise your insurance rates.
Why does that happen and how can you prevent it?
While you may not see an increase in your insurance rates immediately after you get a speeding ticket, during the next billing cycle you may find that your car insurance has gotten more expensive.
The reason for this is that the insurance company feels it is now taking a greater risk since those drivers who get a speeding ticket (and get caught) are known to get into more car accidents than those who follow the limit. Insurance companies don’t want to take more of a risk than they have to because they really dislike having to lose money if it can be avoided.
What Happens After Multiple Speeding Tickets?
If you end up getting more than one ticket, you may notice your insurance rates climbing pretty fast, or they may decide to drop you as an insured.
Those drivers who get more than one citation in just a few months to a year will likely end up paying more and more until the insurance company considers you too high of a risk and quits covering you altogether.
You shouldn’t have too much trouble if you’ve only had one ticket in the last three years or so, but if you keep getting speeding tickets regularly you can expect to have a hard time finding insurance at all.
And when you do find car insurance, it will be expensive!
Common Traffic Violations That Can Raise Your Insurance Rates
When you are driving and commit a traffic violation, there are different levels of severity. The more severe your violation, the more your insurance rates go up. Some tickets can be dealt with so they don’t affect your record by you going through a driving course, but some are very serious and if you’re found guilty you will have problems with your insurance rates.
In Colorado it only takes the loss of 12 points to lose your driver’s license!
Speeding 5 to 9 MPH Over The Limit – 1 point.
This is a moderate type of speeding ticket and will cost you . The reason is that it puts lives in danger and also makes your insurance company more at risk for having to pay to deal with a wrecked vehicle. The more over the speed limit you are, the higher rates go.
- Speeding 10 to 19 MPH Over The Limit – 4 points.
- Speeding 20 to 39 MPH Over The Limit – 6 points.
- Speeding 40 MPH (or more) Over The Limit – 12 points (lose your license!)
- Speed Contests (racing) – 12 points (lose your license!)
- Evading an officer – 12 points (lose your license!)
- Leaving the scene of an accident – 12 points (lose your license!)
- Reckless driving – 8 points.
- Careless driving – 4 points.
- Failure to yield right-of-way – 3 points.
- Improper passing – 4 points.
- Failure to show proof of insurance – 4 points.
- Driving while impaired by alcohol (DWAI) – 8 points.
- Driving Drunk (DUI) – 12 points (lose your license!)
If you get a DUI you’re now dealing with a severe type of infraction – more so than a speeding ticket. You will lose your driver’s license and your insurance company will drop you. Even if they keep you on and you eventually can drive again legally, if you get another violation like this, it may be very difficult to ever get coverage from various companies again.
In Colorado we have a point system. If you accumulate too many points against your license over a fixed period of time, you will lose your license. Up to the point that you do lose your license, your insurance rates may go sky high, if your insurance company doesn’t drop you. If you lose your license, no insurer will cover you and if/when you do get your driver’s license back, your insurance rates are likely to remain high for quite some time.
Here’s how the Colorado point accrual system works (directly from the Colorado DMV):
- Adults (over 21 years old):
- 12 points in 12 months.
- 18 points in 24 months.
- Minor drivers (ages 18 thru 20 years old)
- 9 points in 12 months.
- 12 points in 24 months.
- 14 points or more between the ages of 18 and 21 years old.
- Minor drivers (under 18 years old).
- 6 points in 12 months.
- 7 points prior to turning 18 years old.
How can you prevent your insurance rates from going up if you get a speeding ticket or other moving violation?
Your insurance rates will go up if you’re always getting speeding tickets. This shows them that you’re at risk for accidents and that you’re not good at paying attention to what you’re doing on the road. Don’t drive in a dangerous manner and follow the laws wherever you go to have better insurance prices.
If you’ve recently gotten a traffic ticket and are wondering if it makes sense to hire a traffic ticket attorney to beat or reduce the charges, why not give me a call now at (719) 387-4111 to discuss the possibilities.
Penalties such as excessive fines, increased insurance rates, license suspension, and even the possibility of jail time can often be mitigated.
Give me a call now at (719) 387-4111 to learn how I can help you with your speeding tickets.
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