Even the best most conscientious drivers speed once in a while. The majority of the time, nothing happens. All it takes is one wrong place wrong time speeding incident to either cause an accident or get you pulled over and written a ticket.
When you see the flashing lights and hear a siren your heart jumps into your throat. Several thoughts pop into your head… you may be thinking about how expensive the ticket is going to be, that you may now be delayed and late for whatever you were headed to, points against your license, and the worst one – will your insurance rate jump.
All insurance companies are different when it comes to speeding tickets and penalties. Some companies will automatically raise your monthly rate, while others will add a penalty fee for a year. That penalty will then be remove it if there are no additional moving violations.
The decision can be based on a variety of factors:
– History: Length of time that you have held a policy with them
If you have been their customer for many years and this is your first offense, it is unlikely that your rate will change.
– How fast over the speed limit you were driving?
The risk factor varies. Someone going 20 mph over the speed limit is considered more of a risk than someone caught at 5 mph over. Speeding has been proven to hold a direct correlation to higher accident rates. Insurance companies will take this into account when evaluating your policy.
– Total Number of speeding tickets Issued
If you have been issued several speeding tickets over a certain amount of time, you are considered a high risk driver. It is possible that not only can your insurance company add penalties or increase your rate, but they can altogether cancel your policy. If that happens, it will be difficult for you to find another auto insurance company to extend a policy to you.
The best preventative action that you can take to avoid increasing your auto insurance rates due to speeding tickets is to drive within the speed limit.
Centennial Insurance Services has over 20 years of experience in the insurance industry. Call us today for a free automobile insurance quote. 239-247-5125. www.cisinsfl.com