How Does a Speeding Ticket Affect Auto Insurance Rates in New York?

Sometimes, though, even the most careful drivers among us are guilty of having a bit of a lead foot sometimes. We might be half-zoned out on the open road or going with the flow of traffic, not realizing in either case that’s we’re speeding.

For safety reasons, it’s always important to be aware of your speed and make sure you don’t get distracted or peer-pressured by other drivers into going fast than the posted limit. It’s also important to obey the speed limit so that you can avoid the financial fallout of having a speeding conviction on your record.

Speeding tickets will cost you. At the high end, you can be on the hook for a $600 fine for going 31+ mph over the speed limit – at the low end (going 1 to 10 mph over the speed limit), your ticket may cost up to $150. These penalties might not seem that severe, but keep in mind that there will be court fees and even the possibility of jail time to address.

The state’s financial penalty isn’t the only way a speeding conviction will hit you in your wallet. While you may be able to swing a few hundred dollars for your fines and fees, the cumulative cost of your auto insurance rates going up can add up to much, much more over time.

How Much Do Auto Insurance Premiums Go Up after a Speeding Ticket in New York?

In March 2020, personal finance company NerdWallet published a breakdown of 10 auto insurance companies and how much car insurance rates went up on average in each state after just one speeding ticket.

In New York, the average annual premium someone paid for auto insurance after one speeding ticket conviction was $2,310 – a whole $348 (about 15%) more on average compared to a driver with a clean record, by NerdWallet’s reckoning.

Bear in mind, that’s only the average increase and only takes into account one speeding conviction on an otherwise clean record. Any other traffic tickets on someone’s record can cause someone’s insurance premiums to jump 30% or higher after an additional speeding conviction!

You Can – & Should – Fight Your Speeding Ticket!

The cost of a speeding ticket can be much more substantial than what you’ll owe in fines or fees. When your auto insurance rates are at stake, you stand to have even more of your precious income sapped from companies who look at you as a liability – not someone who made an honest mistake.

If you need help fighting your speeding ticket, reach out to Stites Law for help. Our representation can help you mitigate or eliminate responsibility for your alleged traffic violations. For more information about how we can help, request a consultation when you reach out to us for help.

Call (212) 729-0472">(212) 729-0472 or fill out our online form to reach our attorney today!