How does a speeding ticket affect my insurance? - Bradshaw & Weil, Inc. Skip to main content

How does a speeding ticket affect my insurance?

By August 17, 2020Auto Insurance
Speeding Ticket

Speeding is one of those things that everyone does at some time or another without giving it much of a thought. Many of us likely get away with it and never receive a speeding ticket. Unfortunately, if caught, it can have some negative impacts on your insurance premium.

One way a speeding ticket can affect your insurance is by causing an increase in premium. Speeding activity can stay on your insurance rating history for 3 to 5 years depending on your insurance company’s guidelines. If you were to incur multiple speeding tickets, then, eventually, the frequency and recklessness of speeding activity on your driving record might cause your insurance company to cancel your policy.

Insurance is designed to protect you from catastrophic loss. The duty of the insurance company is to put you back to where you were before the loss occurred. Your duty to the company is to try to minimize and reduce risk. Speeding increases the likelihood an accident will occur. So obviously, the safer you drive the better for everyone involved for multiple reasons.  But if you do receive a speeding ticket, then you should reach out to your agent. There might be other options available for you.

Some insurance companies offer telematics options. Telematics options are usage based programs. Insurance companies that offer these programs typically give you a small discount for agreeing to use the program and then you can incur additional discounts as you drive. Some telematics programs also provide helpful feedback so that you are aware what steps you can take to become a better, safer driver.

 

One of our carriers that offers a telematics program is State Auto Insurance Company. If you’d like more information on how there telematics program works, you can view details here.

 

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