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Will My Insurance Premium Increase With a Speeding Ticket?

    Checking Up

    • If you've had a speeding ticket, there's a good chance your insurance carrier will find out sooner or later. Many insurance companies will order your motor vehicle report just prior to your policy's anniversary date, which is the time they can assess penalties related to your driving record. If violations like speeding tickets appear, the company will take action based on their underwriting guidelines.

    Possible Actions

    • Insurance companies can take a number of different actions if they discover a speeding ticket on your driving record, and they can vary greatly from company to company. Your state of residence can also be a factor, as state insurance law can dictate what insurance companies can and cannot do. If you've been a long-term customer with a favorable claims history, your rates may not go up after one ticket, although a second one will likely work against you. Other possibilities include having a surcharge added to your premium or losing a safe driver discount.

    Severity

    • The severity of your speeding violation could also influence the action taken by your insurer. For instance, in Pennsylvania, if you are caught driving 31 mph or more over the posted speed limit, you will need to attend a Department of Motor Vehicles hearing, which can result in a 15-day license suspension. Insurance companies can use this information to cancel your policy.

    Remedies

    • If your rates do go up as a result of a speeding ticket, the effect doesn't have to be permanent. If your company tacked on a surcharge, it may go away after a period of time as long if you don't incur any additional tickets. You may also be able to get back any discounts that were taken away. Another option is to shop around for a new carrier, although your ticket will likely hinder you from finding a cheaper policy.

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