Seeing flashing blue and red lights in one’s rearview mirror can be panic-inducing, but in some states it’s what happens to one’s insurance rate after a speeding ticket that can feel like the real penalty.
A study by Bankrate found that where you live makes a big difference when it comes to how much premiums go up after a single speeding ticket.
Don’t assume that the states with the highest insurance premiums have the largest increases after a speeding violation, however.
New York, for instance, has the highest average premium for full coverage at $4,192, but the lowest rate increase after a speeding conviction, just 7%, according to data from Quadrant Information Services.
The study found that North Carolina, where the average full coverage premium is $1,957, has the highest rate increase after one ticket (49%). Unlike in other states where increases are controlled by insurance companies, North Carolina has a state-controlled, pre-determined rate increase tied to different speeding convictions as part of the Safe Driver Incentive Plan (SDIP). speeding by 10 mph or less will result in a 40% rate increase, while engaging in prearranged highway racing, the highest SDIP penalty, carries a 340% rate spike.
According to Bankrate, the states with the highest rate increase for speeding are:
- North Carolina (49%)
- Wyoming (40%)
- California (39%)
- Massachusetts (28%)
- Illinois (26%)
Analysts found the lowest rate increases in:
- New York (7%)
- Hawaii (9%)
- Vermont (10%)
- Texas (12%)
- New Jersey (13%)
Depending on where you live, you may want to ease off the accelerator, especially given the steadily rising cost of insurance in the U.S.
Thanks to supply chain shortages and other factors, the price of both new and used vehicles skyrocketed during the pandemic, making them more expensive to replace.
The cost to insure vehicles followed suit, with average premiums jumping over 20% since 2020, according to a May study by CheapInsurance.com.
“Car insurance isn’t getting cheaper—but being informed can help consumers beat the trend,” Fausto Bucheli, Founder & President at CheapInsurance.com, advised in a news release. “We’ve found that most drivers are overpaying simply because they haven’t re-quoted their policy in over a year. With rising costs, it’s more important than ever to be proactive.”
Is fighting a speeding ticket worth it?
A speeding ticket won’t affect your insurance unless you’re convicted, so is it always worth contesting the citation?
Bankrate notes that not everyone can take time off work or pay for child care to have their day in court. For those with the resources to do so, the study’s authors say drivers in the following situations may want to do so:
- First-time offender: “Courts are more lenient for first-time offenders,” according Bankrate, and drivers may have the ticket reduced to a non-moving violation or lesser violation. For those drivers, the judge may let you take traffic school in exchange for a lesser violation.
- Too many points on your record: Fighting the ticket may be the only way to reduce or eliminate additional points, which could be beneficial for anyone who has had a DUI or other violation that adds multiple points to one’s license.
- An error on the ticket: Bankrate suggests paying close attention to the citation for inaccuracies that could undermine the officer’s case against you in court.
- Speeding to avoid an accident: In the rare case that you were speeding to avoid an accident, you may be able to get out of that ticket if you can prove what happened.
For those who would rather avoid a potentially-nerve wracking appearance before a judge, hiring a traffic lawyer is another option for those with the necessary financial resources.
