Best Car Insurance After a Speeding Ticket
Clearsurance.com recently published a report on the best car insurance providers after getting a speeding ticket. USAA, State Farm, and Geico comprise the top three positions.
USAA is the least expensive, on average, for drivers who have a speeding ticket. Only military members, veterans, and eligible family members can purchase coverage from USAA. For the general population, State Farm and Geico are the most affordable options.
Car Insurance and Speeding Tickets
Getting a speeding ticket increases a driver’s risk level to the insurance company. Statistics say that if a person has a speeding ticket, they’re more likely to file a car insurance claim. As a result, they are charged higher premiums.
Typically, having an accident on a driver’s record will result in car insurance premiums increasing more significantly than receiving a speeding ticket. A DUI on a driver’s record will usually impact premiums to a greater degree than an accident.
When an insurance company writes a policy for which its risk of paying a claim is higher, it charges higher premiums.
Car insurance premiums tend to increase, even for good drivers, which is a common complaint among drivers in the U.S. Having a history of tickets and accidents can lead to even more dramatic increases in insurance premiums.
Premium Increase Following Traffic Ticket
According to Clearsurance.com, the average premium can increase by about 30% following a ticket. If a driver gets more than one ticket, they can expect premiums to increase further.
- No Tickets: $50 minimum coverage
- One Ticket: $75 minimum coverage
- Two Tickets: $100 minimum coverage
- Three tickets: $125 minimum coverage
If a driver’s risk level exceeds an insurer’s threshold, the insurance company will not renew the policy, and the driver will need to look elsewhere for coverage.
Full coverage is more expensive, and the rate increases can range from $150 a month with no tickets to $200 a month following the issuance of one ticket.
Insurance Savings Following a Ticket
Drivers who have a speeding ticket on their record are still eligible for insurance discounts. Some of the most common discounts include the following:
- Bundling
- Defensive driving
- Good student
- Safety features
- Usage-based program
Usage-based car insurance can help drivers save as much as 40%, but there is a risk of paying higher premiums from some companies if their driving habits do not align with the low-risk criteria. Therefore, drivers should only opt into a usage-based program if they’re relatively certain their driving habits will be categorized as safe and they will have sufficient funds.
Qualifying for several discounts can help drivers with tickets obtain coverage at an affordable level.
Raising the deductible on full coverage can help drivers save. It’s essential to remember that following a claim, the policyholder is responsible for the deductible. Drivers should aim to keep the deductible within an affordable range, even when trying to save money on premiums.
Even without a speeding ticket on a driver’s record, insurance premiums increase every year because of inflation and other factors. Discounts become even more valuable as premiums increase in cost.
Drivers should compare car insurance quotes every six months. As factors change and insurance companies balance budgets, premiums change, and the best insurer for a driver last year may no longer be the best. Switching to a less expensive insurer is one of the easiest ways to reduce your premium costs.
Tickets and Driving Record
Melanie Musson, a nationally recognized car insurance expert with Clearsurance.com, points out, “A speeding ticket will not stay on a driver’s record forever. After three to five years, the ticket will disappear.”
One of the best ways to get lower rates is for a driver to avoid getting another speeding ticket for several years. Then, once the ticket is removed from their record, they’ll have a clean driving history and be eligible for lower rates.
Good drivers typically pay the lowest rates, so maintaining a clean driving record will help ensure that a driver can keep car insurance premiums within budget.
Read Clearsurance.com’s entire report here: Cheap Car Insurance After Speeding Tickets (10 Best Companies for Savings).