Wouldn’t it be great if we could just tell you the single company that has the most affordable coverage after a speeding ticket? That is not the case, however, as there are a whole slew of unknowns like whether you are female or male, your credit score, the safety features built into your vehicle, and whether you are single or married, that all help calculate your car insurance rates. We know insurance is not everyone’s favorite topic, but in this article we will cover some of these factors and educate you enough to have a good beginning to your search for cheaper coverage.
The vehicle that needs insurance is probably the most important factor when consumers are trying to find economical coverage after a speeding ticket. Vehicles with more horsepower, poor safety ratings, or high incidents of liability claims will cost quite a bit more to insure than safer models. The table below illustrates insurance prices for a selection of the most affordable vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$1,477|
|Ford Escape XLS 2WD||$1,545|
|Honda Odyssey LX||$1,586|
|Honda Accord EX-L 4-Dr Sedan||$1,681|
|Chevrolet Malibu Hybrid||$1,713|
|Chevrolet Impala LT||$1,722|
|Toyota RAV4 Sport 2WD||$1,713|
|Chevrolet Equinox LT AWD||$1,719|
|Dodge Grand Caravan SXT||$1,745|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,755|
|Hyundai Elantra Blue 4-Dr Sedan||$1,777|
|Ford Focus SEL 4-Dr Sedan||$1,782|
|Chevrolet Silverado LT Extended Cab 4WD||$1,827|
|Toyota Camry LE||$1,832|
|Ford F-150 Lariat Crew Cab Platinum 2WD||$1,840|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,845|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$1,849|
|Nissan Altima 2.5 4-Dr Sedan||$1,870|
|Ford Explorer Limited 4WD||$1,909|
|Compare Rates Now Go|
Table data assumes single male driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can impact coverage rates noticeably.
Looking at the rates, you can conclude that makes and models like the Honda CR-V, Ford Escape, and Honda Odyssey are likely to be the less-costly vehicles to insure after a few driving violations.
One of the more important considerations that aid in calculating car insurance rates is where you choose to live in Raleigh. Areas with more people or more claims likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates get the luxury of paying less.
The next table sorts the highest-priced areas in North Carolina after a speeding ticket to buy auto insurance in. Raleigh ranks #9 having an annual price of $760 for the average insured, which is around $63 each month.
|Rank||City||Average Per Year|
|Quote Best Rates Go|
Information shown are comparative as the specific garaging location can lower or raise coverage prices considerably.
Difference between liability only and full coverage rates
Saving money on insurance is probably important to most drivers, and one of the fastest ways to find cheap insurance after a speeding ticket is to not pay for full coverage. The information below compares auto insurance rates when comparing full coverage to liability only. The rates are based on no accidents or driving violations, $100 deductibles, marital status is single, and no discounts are applied to the premium.
If averaged for all ages, comp and collision coverage costs an extra $1,952 per year over and above liability only. That brings up the question if buying full coverage is worth the expense. There is no definitive guideline for dropping full coverage, but there is a general convention. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
There are some conditions where buying only liability insurance is not advised. If you haven’t paid off your loan, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.
Insurance rates are higher with tickets and accidents
The common sense way to find good insurance rates in North Carolina after a few driving violations is to drive safely and avoid tickets and accidents. The illustration below illustrates how violations and fender-benders influence insurance rates for different age groups. The premium estimates are based on a single female driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
The data in the chart shows the average cost of a car insurance policy in North Carolina per year with a clean driving record and no accidents is $1,360. Factor in one speeding ticket and the average cost hikes up to $1,539, an increase of $179 each year. Now get two accidents along with the one speeding ticket and the yearly cost of insurance after a speeding ticket goes up to an average of $3,049. That’s an increase of $1,689, or $141 per month, just for not being attentive to the road!
Ending up with a high-quality auto insurance provider can be difficult considering how many companies provide coverage in North Carolina. The ranking information in the next section may help you choose which car insurance companies you want to consider when comparing insurance rates after a speeding ticket.
These rankings are only comprised of companies that insure vehicles nationwide, so companies that only write business in North Carolina or surrounding areas are not taken into consideration for these rankings. To get rate quotes from the most competitive companies in North Carolina, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
How to find cheaper car insurance after a speeding ticket
Here are many penny-pinching solutions that can help you get lower-cost coverage.
- Buy a vehicle with excellent safety ratings
- Just one traffic violation will increase your rates
- Bundle home and auto and earn a discount
- Frequent claims will increase rates
- Drive attentively and avoid accidents
- Compare quotes from other companies often
That last tip is remarkably significant, as we noted in this piece. Car insurance prices vary considerably, so drivers shouldn’t be resistant to buy a policy from a new company if you find a cheaper price.
Being loyal to a particular company is commendable, but it’s not a great idea if that stubbornness costs you big bucks every year. It only take a few minutes to compare prices to find cheaper insurance after a speeding ticket in Raleigh.
The Raleigh, NC, insurance agents below can help you determine which car insurance company is the best fit, since some people prefer to have a little guidance when buying car insurance after a few driving violations. It can be complicated to find the cheapest rates, and insurance agents can give you comfort knowing your coverage gives you adequate coverage when you need it most.
To locate a Raleigh insurance agent near you, click the link at the bottom or click here to compare price quotes.
John Hill – State Farm Insurance Agent
7320 Six Forks Rd #200 – Raleigh, NC 27615 – (919) 848-0644
Nationwide Insurance: Carter Glass Insurance Agency
5901 Falls of Neuse Rd – Raleigh, NC 27609 – (919) 872-1778
J. Miller Lawson Agency – Nationwide Insurance
9360 Falls of Neuse Rd #201 – Raleigh, NC 27615 – (919) 676-5695
Green and Wooten Insurance
800 Salem Woods Dr – Raleigh, NC 27615 – (919) 870-0021