How Does a Speeding Ticket Affect Your Insurance?

How Does a Speeding Ticket Affect Your Insurance?

When you speed and happen to get a ticket, your insurance may increase, but why is that? 

Insurance uses statistics to accurately set the premium for all customers. They categorize drivers into two groups, those groups being low-risk drivers and high-risk drivers. Insurance companies are able to categorize drivers using a multitude of variables that include things like car make and model, driving history, and more. A speeding ticket affects your driving history, which in turn affects your premium. Here are the ways that a speeding ticket affects your insurance.

How Speeding Affects Your Auto Insurance Premium

  • Increased Premiums – When you get a speeding ticket, your premium may increase. How much it increases depends on your previous driving record. If you have been involved in multiple accidents and have gotten speeding tickets before, you are already a high-risk driver and you can expect the increase to be significant. If you are a low-risk driver, your insurance may look the other way just this once.
  • Fewer Discounts Over Time – When you have a good driving history, your insurance company rewards you by giving you discounts the longer you go without an accident or claim. But if you have a track record of being a not-so-stellar driver, your discounts will be few and far between.
  • Loss of Standard Coverage Option – If your driving record is particularly bad, another strike against it may make you a vibrant red flag in the eyes of insurance companies. Your risk may be too high for standard insurance and you may need special auto insurance in order to be covered under the law.

The proper auto insurance will cover your car in case of an accident. Contact Lloyd S. Berkett Insurance Agency worldwide for all of your insurance inquiries and needs.

11150 W. Olympic Blvd.
Suite 1100
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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