Fred Elia, owner of Buy Your Car with Fred in the Capital Region, knows that getting pulled over is a scary thing. "No matter how old you are, you still feel like a teenager behind the wheel when those blue lights come on."
But after you get a ticket and the squad car is pulling away, you have two very adult thoughts: “I wonder how much this is going to cost?” and “What is this going to do to my insurance rates?”
Tickets and your insurance rates
Fred cites a study by Insurance.com that analyzed 490,000 insurance quotes to figure out how different violations affect your car insurance rates. Here are their findings for 14 different violations:
- Reckless driving – 22 percent increase.
- DUI (first offense) — 19 percent.
- Driving without a license – 18 percent.
- Careless driving – 16 percent.
- Failure to stop – 15 percent.
- Driving 30 mph or more over the speed limit – 15 percent.
- Improper turn – 14 percent.
- Improper pass – 14 percent.
- Following too closely – 13 percent.
- Driving 15 to 29 mph over the speed limit – 12 percent.
- Driving 1 to 14 mph over the speed limit – 11 percent.
- Failure to yield – 9 percent.
- Driving without insurance – 6 percent.
- Seat belt infractions – 3 percent.
Add to this the emerging area of tickets for texting while driving. New York State has applied very harsh penalties for these infractions. Related insurance hikes are still developing.
"It could be even worse; those are just averages. Your actual rate will depend on a variety of factors, including your age, sex, where you live, your marital status, and how long you’ve been with your carrier," says Fred.
Dave Balog teaches financial basics to families. firstname.lastname@example.org. 355-0967