If you have ever received a speeding ticket, you may have been surprised to learn that ticket fines are not the only price to pay. When you open your car insurance renewal letter a few months later, it is likely that you will see an increase in your monthly premium as well.

As such, it is not uncommon for people to have questions about how speeding tickets can potentially affect auto insurance rates. Individual policies and insurers can vary, but this information can provide a general idea of what typically occurs.

How much will my rates increase?

Based on a NerdWallet car insurance rate analysis, most drivers experience around a 25% increase in their premiums after receiving a speeding ticket. With that said, this does not mean you are out of options. You may be able to lower your rates by switching insurers. Checking for quotes is smart.

How long will the ticket be on my record?

Depending on state laws, a speeding ticket can remain on your record for one to three years. In the state of North Carolina, driver’s license points stay on your record for three years. As a result, you can expect insurance agencies to see the ticket every time they run your history during that time.

In most cases, speeding tickets result in higher auto insurance rates, but it does not have to necessarily break your budget. Shopping around for insurance and comparing quotes can help you find more manageable rates if a recent ticket has put you in a financial pickle.