Caught Speeding? Get Ready for Higher Insurance Rates
Every driver on the road has exceeded the speed limit at least once. It is just a normal part of driving. Some people do it everyday. Some because they are running late, others because of their lack of concentration, and there are many other who just enjoy testing their car’s engine by breaking the speeding laws.
When thinking about speeding, most drivers’ minds will automatically go to a speeding ticket. Of course a speeding ticket will not have a big impact on your life financially at first, but what most people fail to understand is the big impact that even just one ticket can have on your insurance rates.
Every speeding ticket ever given is saved and stored in databases. Every insurance company in the nation has access to these databases so the chances of your insurance provider not discovering the ticket are drastically low.
Due to recent economic struggles, police officers as well as insurance companies are tracking down speeding drivers like never before, for a variety of different reasons. States are in deep in debt and tickets are a good source of income, while insurance companies do not want to pay for bodily injury claims or any other damages caused by reckless drivers.
All it takes is one speeding ticket for your rates to go up. And when they rise, they won’t just rise but will skyrocket.
The chances of every speeding driver on the road getting caught are really low, however if you do get caught, you might want to kiss your current insurance rates goodbye. According to a recent study, one speeding ticket can result in your insurance premiums doubling. Here’s why… The faster you go the higher your chances of being in a fatal car crash and most insurance companies will try to mitigate a fatal high-costing accident before it happens.
Bad news doesn’t stop here. These tickets may also come up as a problem if you apply for health or life insurance, because by speeding you are putting yourself in serious situations where you could be severely injured or even killed.
April 30, 2010, Posted by Rainy Day Mitch