Speeding contributes to nearly a third of all fatal crashes in the U.S., according to the National Highway Traffic Safety Administration. Beyond the immediate dangers of speeding, it can also lead to significant financial consequences for drivers.
Insurance Rate Increases
Data from MarketWatch reveals that Kansas drivers experience an average increase of 25% in their full coverage auto insurance premiums after receiving a speeding ticket. This raises their rates from $200 to $249. For those with minimum liability coverage, rates jump even more dramatically—averaging a 31% increase from $53 to $70.
Hailey Neff from the MarketWatch research team notes that these rates are unlikely to decrease. “Car insurance rates have changed significantly in recent years, creating a volatile market. With rising crime rates and natural disasters, we’re seeing an overall increase in car insurance across the country,” she said.
Driving Safely to Manage Costs
Neff emphasizes the importance of safe driving habits. “If car insurance premiums are skyrocketing nationwide, it’s crucial to drive safely and limit personal increases as much as possible,” she added.
Once your insurance rates go up, it can be challenging to lower them again. Some insurance companies offer discounts for drivers who use devices that monitor their driving behavior. Additionally, obtaining quotes from multiple providers can help find the best rates.
