If there’s one common gripe people seem to have about their insurance policy, it’s premium rates going up.
Sometimes our rates change based on the ebb and flow of life. Moving into a population-dense area, insuring an expensive vehicle, or simply being a certain gender
at a certain age can all cause premium rates to increase. But that doesn’t mean we can’t do things to keep our premiums steady. From qualifying for discounts and maintaining a safe driving record to only making claims when we absolutely need to – there are options and behaviors we can all benefit from.
Today, with the help of internal data on thousands of policies, we’re exploring just how important maintaining a safe driving record is by analyzing premium rates in three states – California, Colorado and Georgia – and how those rates change with speeding tickets on your record.
Keep reading if you want some insight on how to keep your average car insurance per month costs low.
The Customer: To keep data consistent across states, we’ve created a baseline auto insurance customer. Our customer is a 30-year-old single male. He’s currently insured, and has been with the same company for four years. He drives a 2012 four-door Toyota Camry, which he owns and has paid in full.
He has an average credit score, drives approximately 6,000 miles a year and is insured for a basic one-year policy with the minimum coverage amounts in each state ($15,000/$30,000 in California; $25,000/$50,000 in Colorado and Georgia).
Check out the data below.
The customer is insured in San Mateo – a city in Silicon Valley of 102,893 people.
# of TicketsBasic 1-yr premium$ Increase% Increase0 Speeding Tickets$1,150$00%1 Speeding Ticket$1,590$44038.26%2 Speeding Tickets$2,194$1,04490.78%3 Speeding Tickets$2,714$1,564136.00%4 Speeding Tickets$2,714$1,564136.00%
The cheapest initial premium of the three states stays somewhat affordable after one ticket, but skyrockets to 90 percent with two tickets. Interestingly, it doesn’t matter whether you have three, or four speeding tickets in California, you pay the same colossal 136 percent increase either way. This was the highest overall percent increase of the three states we compared.
Our sample customer is insured in the capital city of Denver, which holds an urban area population of 2,374,203.
# of TicketsBasic 1-yr premium$ Increase% Increase0 Speeding Tickets$1,888$00%1 Speeding Ticket$2,688$80042.37%2 Speeding Tickets$3,570$1,68289.09%3 Speeding Tickets$3,834$1,946103.07%4 Speeding Tickets$4,220$2,332123.52%
Colorado comes in just under Georgia for the most expensive initial premium. Speeders beware though; one busted joyride in The Centennial State raises your premium 42 percent – the highest 1st offense of the states we looked at. Things get progressively worse from there, with steady percent increases and the highest premium dollar amount in each of the four offender categories.
Our sample customer is insured in Alpharetta – a suburb north of Atlanta with a
population of 63,038.
# of TicketsBasic 1-yr premium$ Increase% Increase0 Speeding Tickets$1,938$00%1 Speeding Ticket$2,582$64433.23%2 Speeding Tickets$3,002$1,06454.90%3 Speeding Tickets$3,454$1,51678.22%4 Speeding Tickets$3,866$1,92899.48%/
The highest initial premium of the three states isn’t quite as harsh toward drivers with a heavy foot. Georgia has the lowest percent increase in each of the speeding ticket categories, with premium rates not doubling until four speeding tickets in.
Your average car insurance per month cost wouldn’t be so average with a speeding ticket or two. Shop our online comparison and shopping portal today to explore your auto insurance options.