Hey guys, Jason here, 303 Insurance Brokers. I want to share with you guys another important insurance tip of the day. This one’s talking about speeding tickets and how it affects your car insurance rates.
Insurance Companies Factoring Vehicle Report In Assessing Car Insurance Rate
Whenever I’m quoting a new client for auto insurance before buying a policy, we will run a motor vehicle report before moving forward. We will look for tickets and accidents that helps an insurance company assess and understand your rate.
Speeding Tickets Drives Car Insurance Up
There is nothing that can negatively impact your car insurance rate more than speeding tickets and multiple speeding tickets. So anytime you get a speeding ticket, it’s going to stay on your insurance record from anywhere from three to five years, especially make it cost-prohibitive for you to switch insurance.
I have some clients that managed to pick up speeding tickets every year. It just drives up their insurance rates. What scares an insurance company is not a minor accident. They don’t love it, but what scares an insurance company is an accident on the highway at 45, 50, 60 miles an hour. Somebody was speeding well over the speed limit. They can’t slam on their brakes fast enough.
When we look at telematics, which is that app-based driving program I’ve talked about before, fast accelerations, hard breaks caused accidents, and those that caused a significant accident.
So, if you have a propensity to speed, slow down. It affects your insurance rate, as well as making an accident potentially more dangerous and more costly.
Avoid Speeding Ticket
Some folks think that speeding tickets are just something that happens. Try to avoid speeding tickets to drive under control, and the same thing, if you plead a speeding ticket down to driving an unsafe vehicle.
Insurance companies have caught up. They know that that’s a speeding ticket. They know that’s an infraction along those lines. They’re still going to rate that against you, even though it may not come across as a speeding ticket on the MVR.
They’ve wised up with DA’s trying to plead them out. So, you can’t get it again. Sponge from your record is going to affect your insurance rates.
If you have any questions about speeding tickets or other accidents affecting your insurance rates, please me with 303 Insurance Brokers.
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