Drive Safely! Why That Traffic Ticket Could Cost You for Years

Auto & Home

If you’re stopped for speeding or texting while driving, your car insurance rates could soar.

According to the Federal Highway Administration, Americans are driving more than ever. Added time behind the wheel with more and more distractions makes driving safely more important than ever. Speeding and other violations could have serious ramifications not only your safety, but also your wallet.

The cost of a speeding ticket is painful, but the resulting increase in your auto insurance premiums could continue haunt you for some time since most insurance companies impose a surcharge for three years after your violation.

On average, the penalty for texting while driving adds an additional 23% to your premiums, while a single speeding ticket could raise your rates by nearly 25%.1

While a single speeding ticket costs $150, the average increase to your annual premium is $379. When you multiply that by three, you could end up paying over $1,100 just for one speeding ticket.2

Texting and driving has also reared its ugly head in the last few years, accounting for nine percent of fatal crashes in 2017.3 Aside from the dangers of texting and driving, getting cited for this infraction can also be expensive. The average annual premium increase for this ticket is nearly $300.4

So, what should you do after you receive a traffic ticket? You should shop around for insurance quotes. Different insurers may assign different penalties for the same type of ticket so it’s worth seeing what the market has to offer.

1The Zebra’s 2020 State of Auto Insurance
2Ibid
3https://www.nytimes.com/2019/06/28/your-money/traffic-ticket-car-insurance.html
4Ibid

Learn more about your Auto, Home & Renters insurance options

Learn More About

Learn more about your Life insurance options.

RECENT POSTS

Should You Pay off Student Loans or Save for Retirement?

Should You Pay off Student Loans or Save for Retirement?

How can you address all of your obligations at once? Read our tips for managing your debt. Establishing ...
Continue Reading
Is it Safe to Fly?

Is it Safe to Fly?

With the holidays approaching, many are wondering how safe air travel is. Two recent studies offer some positive ...
Continue Reading
Why November is the Perfect Time for Long Term Care Awareness

Why November is the Perfect Time for Long Term Care Awareness

It’s the perfect time to start having discussions with family members during the holidays. Here are some conversation ...
Continue Reading