You’re driving down the road and out of nowhere you see red and blue flashing lights in your rear-view mirror and panic sinks in. Immediately you look down at your dashboard and see that you are going well over the speed limit. Beads of sweat start to form on your forehead and your wallet taunts you saying, “there’s $100+ dollars thrown out the window just because you had to speed today!”
Speeding tickets are expensive reminders that you got caught doing something you weren’t supposed to. Driving over the speed limit not only can be dangerous, but it can cost money too.
Not only will it cost you money to pay the ticket, but it may also cost you more money in the long run because your insurance premium could rise due to the ticket going on your record.
How does a speeding ticket affect your driving record and insurance premium?
A speeding ticket will not only affect the amount of money in your wallet, but it may also affect your personal driving record and insurance premium.
The speeding ticket will impact your driving record by being on your record which can affect you short and long term. It can affect your insurance premium by potentially increasing the amount of money you pay each year for coverage.
These are two major reasons why it is important to drive safely and abide by the laws of the road so that your driving record and insurance premium are not affected by your recklessness.
Impact of a speeding ticket on your driver license
In the state of Indiana, we have traffic ticket points that can affect you. If you are given a citation and found guilty, not only will you have to pay a fine, but a certain number of points will be added to your driving record. The points will vary based on the severity of the citation that was issued.
If you accumulate a certain number of points in a specific amount of time, the Bureau of Motor Vehicles (BMV) can take action against your driving privileges. They can give you a warning, place you on administrative probation or suspend your driver’s license.
The importance of knowing this is that if you do find yourself receiving a speeding ticket, that is a good reminder to drive safely at the speed limit so that your actions don’t result in more severe consequences.
Impact of a speeding ticket on your auto insurance
A speeding ticket can affect the amount you pay on your auto insurance premium. A speeding ticket is part of your driving record, and your driving record is a piece of information insurance companies take into consideration when determining the price of your insurance premium. That means that one way to get the least expensive car insurance for yourself is to have a clean driving record.
The more speeding tickets you receive, the more of a risk you become for the insurance company to insure you as a client. That is why the price of your premium can increase..
Interested in learning more about the impact a speeding ticket has on your auto insurance? Contact a local agent today to learn more.
How long does a ticket stay on your record
According to the Indiana Bureau of Motor Vehicles, Indiana law assesses a point value for each conviction of a moving violation. The point value relates to the seriousness of the offense in posing a risk to traffic safety. Point values range from zero to ten, depending on the severity of the violation. Points stay active on an individual’s driving record for two years from the conviction date.
At Indiana Farm Bureau Insurance, underwriters generally look at the past three years of your driving record to determine your insurance premium.
3 tips to save on insurance after a speeding ticket
Tip 1 – Find out what discounts are available from your local insurance agent. If you purchase auto and home insurance with Indiana Farm Bureau Insurance, you will receive the Multi-Line Discount which is just another way you can save money.
Tip 2 – Sign up for DriveTrend®. DriveTrend® is Indiana Farm Bureau Insurance’s driving application that provides personalized feedback on you and even your family members’ driving habits. All you have to do is sign up online or contact your agent, download the app and register to save money, while becoming a safer and more conscientious driver.
Tip 3 – Be a better driver. Receiving a speeding ticket, or any other traffic citation, is likely not something you plan, but mistakes happen. Remember to pay attention while at the wheel, remove distractions and slow down to limit your risk of a citation or accident.
Here are a few frequently asked questions (FAQs) regarding auto insurance and speeding tickets. If you have more questions, visit the FAQ page or contact an insurance agent today.
1. Will my insurance premium increase with a speeding ticket?
Your auto insurance premium may increase if you receive a speeding ticket or other traffic citation, but it may not happen right away. Your insurance premium price upon each renewal, and your driving history is one factor that is taken into consideration when the rate is being determined.
2. What other types of tickets affect my insurance?
There are many types of tickets that can affect your insurance premium and even your ability to obtain insurance. In addition to speeding, other types of offenses include:
3. Can I get a speeding ticket off my record?
In Indiana, you may have the option to complete an Indiana defensive driving course that may clear the citation and stop the traffic points from reaching your personal driving record. You are only allowed to participate in this course once every three years. However, in most cases, you are unable to get a speeding ticket off your driving record.
Receiving a speeding ticket is never fun, but it can be a good reminder to practice smart and safe driving while on the road.