Q: How much does a speeding ticket affect your car insurance?
A: Is it safe to assume that when someone asks this question,
there is a precipitating event that prompted it? I know a writer is supposed to
wait until the end for the big reveal, but I’m going to put it up front: The
fine from a speeding ticket is the cheap part of the equation.
Before we get into the details, let’s address why speeding tickets
affect your insurance. Occasionally I come across people who argue that
speeding isn’t a big deal; that it doesn’t cause crashes at the level those of
us in the traffic safety community claim it does. Okay, get ready, because here
I come. For a moment, let’s set aside all the collision investigations done by
trained professionals that indicate that speed is a factor. Let’s briefly set
aside the data showing that in the last five years forty percent of fatal
crashes in Washington involved a speeding driver, at a loss of over one
thousand lives. Instead, let’s just focus on the insurance business.
Insurance companies compete to offer customers the best possible
rates while also making sure they’re bringing in enough money to cover all the
claims. They basically use math to decide how much you’re going to pay, based
on how much risk they think you are to insure. If a driver gets an infraction
for speeding, they raise rates to the place where the math shows that they can still
cover their anticipated claims and keep the customer. Collision investigators,
data researcher and the people at insurance companies doing the math all know
that speed increases your risk of a crash.
But what does that increased risk cost to a driver? I’ve seen studies showing that one speeding ticket will increase your insurance rates by twenty to thirty percent, but I wanted to see the real numbers. So I went to the (insurance company name redacted) website and requested a quote, using their default settings for coverage. Then I edited my request to include one speeding violation in the past three years. I kept adding tickets, assuming eventually they just would turn me down. Even at ten speeding tickets they still offered me insurance, but there was a cost. Here’s the breakdown:
No violations: $666 per year
1 violation: $872 per year
2 violations: $982 per year
3 violations: $1110 per year
4 violations: $1196 per year
5 violations: $1308 per year
6 violations: $1482 per year
7 violations: $1610 per year
8 violations: $1732 per year
9 violations: $1890 per year
10 violations: $2036 per year
In this sample set of one, and recognizing that other insurance companies will come up with different (but likely similar) numbers, a single infraction results in a 31 percent increase in insurance rates. Since the form for the insurance quote had a three year timeframe for violations, I’m guessing that the higher insurance rate would be in effect for three years after getting an infraction. In this example we have a $206 per year increase, for a three year total of $618. Let’s say the original violation was speeding 15 mph over the posted limit in a 50 mph zone. That’d be a $156 ticket. The driver ends up paying the cost of an infraction five times; once to the government, and four more times to the insurance company.
As long as we’re looking at insurance increases, I’ve worked out a few more percentages: Three infractions is good for a 67 percent increase, five infractions is almost double at 96 percent, and ten infractions more than triples insurances rates; a 206 percent increase. I don’t know how someone would actually get ten infractions in three years; I feel like you’d have to put in some effort to do it.
By the way, if you’re a parent with a new driver in the house, these insurance rates would be some great math problems to review, preferably before your kid gets an infraction. And the financial cost is only a small part of it. Young drivers make up 13 percent of the driving population, but they’re involved in over 30 percent of fatal crashes. Research shows that parents who monitor and enforce safe driving practices have kids who drive safer and are less likely to crash. Young drivers do not have (and sorry if you’re under 25 and hearing this for the first time) a fully developed brain. They need parents and other respected adults to remind them that speed has consequences. Those consequences can be the cost of infractions and insurance, and much more. It takes a village to raise a good driver. Welcome to the village.
Hi Doug your pretty much right on with many of the driving issues you write about. Lane use is one of my pet peeves , and would like to talk with you about the use of the middle lane or lanes where there are three or more . Sometimes that middle lane or lanes are trucks only, or at least their best passing lanes, but we have cars camped out there holding the trucks hostage. More emphasis Should be put on “ Drive right pass left. When finished passing move right . Don’t hold up others, or force them to pass you on the right. “ also , yes the right lanes are slower and the right lane or lanes tend to be faster. But the right lane should not be labeled as much a slow lane , but the “ right” lane as in “drive right pass etc.” I have v many very specific reasons and experiences to back up my reasoning for these positions, and would like to discuss them at some point. The other issue is , if we as people are serious about safety , shouldn’t we be getting our police Sheriffs and emergency responders to be modeling for us how safe driving is done . Zero tolerance for them breaking the speed limit and distracted driving. We would all have more respect for them if they had to obey the same traffic laws we have to obey. In some states they are legally allowed to drive distracted by their devices. The way traffic enforcement works now is satisfactory, but if you want to move further. I think Having all people treated as equals needs to happen . I’ve been forced in compliance to obey the traffic rules instead of driving reasonable and prudent. Many people with less experience are still allowed to drive reasonable and prudent even they have a lot less experience because of their lack of exposure, or they are a part of the right group of people who are excused. I’d like to know how you drive. Do you drive like I do , obeying the traffic laws firstly to defend myself from police , like not allowing myself more than 2 miles over the posted speed limit no matter how rediculas. Coming to a complete stop at stop signs , unlike the majority of drivers, police included, or do you still drive with the general motoring public which is more reasonable and prudent? Have you analyzed your driving ? That would be another issue I’d like to discuss I still love to drive and do it sometimes just for the therpudic effect it has on me. Keep writing and I’ll look for the next post.
You brought up more questions than I can answer in a short response, so I’ll just reply to your question of how I drive. I actually addressed that indirectly a few months back in a couple columns. Abiding by the law doesn’t make a person a good driver; the law sets the bare minimum expectation for a driver. Good drivers go beyond the requirements of the law and integrate safe thinking into their driving behaviors. For more thoughts here are the columns:
https://www.thewisedrive.com/traffic-law-vs-safe-driving/
https://www.thewisedrive.com/traffic-law-vs-safe-driving-part-2/
Yeah Doug thanks for that and I do to. Even though it’s not illegal to drive in the middle lane where there are three or more I still drive in the right lane unless passing , allowing others to merge where safe, or preparing to turn left, or there is road damage or an obstruction in that lane. Another thing some states have rules when holding up 5 or more vehicles, I pull off for one vehicle sometimes where there ‘s safe place to do so. Traffic laws and written rules are made by average drivers who are experience d rule makers and law makers not professional drivers , and furthermore they don’t ask professional drivers about their view of driving enough. And a professional driver may have greet difficulty explaining himself in many other ways other than driving. I’m glad I have a place here where there is someone that can express himself well and at least will listen to other points of view and comment on them. It would take all the hours of the rest of my life to verbalize all the misunderstood driving issues from my perspective , but thanks for addressing a few.