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Ever wonder exactly how much your auto insurance will go up after a speeding ticket? How about after two or three tickets? I have new numbers to share with you.
Local governments have gone crazy with ticketing for everything because they’re starved for revenue. The calls I get about this kind of thing are usually about the frightful cost of tickets. But what I’ve not heard a lot about is what happens to your insurance premium when you get a ticket.
Paying down the road
The latest figures from BankRate.com suggest that less than one-third of drivers who got traffic tickets in the last five years are paying more for insurance. What really determines if you’ll pay more is the type of ticket you get. For example, a ticket for DUI/DWI, reckless driving or leaving the scene of an accident will eat you up beyond the pale.
InsuranceQuotes.com has a new list of averages for what certain violations will cost you in auto insurance rates. Remember, these are averages, so your individual results may vary. But here’s the scoop:
A single ticket going 1 to 15 miles over the limit will cause a 21 percent rise in your auto insurance costs. Going 16 miles over the speed limit will generally result in an insurance spike of just under 30 percent.
The best advice is stay 9 miles or less over the posted speed limit and you’ll generally be safe. Particularly on freeways, those first 9 miles over the speed limit are like a gimme from police. Of course, this is not true everywhere; this is general advice, so use your discretion.
What about reckless driving? A single ticket will raise your rates 82 percent! Similarly, a first-time offense for DUI or DWI will generally increase your premium by about the same amount.
How to lower your rates
Know that in some cases you can insulate yourself from higher rates by taking a driver safety course. These courses are often sponsored by the National Safety Council and run in six-hour increments.
Finally, don’t forget there’s really a world of possibility for reducing what you pay for auto insurance if you use a pay-as-you-drive insurer. A company like Progressive will offer you lower rates on insurance in exchange for giving them the right to spy on your driving habits. And they’re just one of many doing this sort of thing.
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