Your first thought, when you see the flashing lights of a cop car in the rearview mirror, is "Uh-oh!"

Your second thought: "How much is my insurance going to go up for this?"

Whether you've been late for that special occasion or possibly you just have serious lead foot, we all have been guilty of speeding. Out of the 195 million licensed drivers on the road, 41 million of them are getting ticketed every year on average, that means you have around a 20% chance of getting a ticket yourself. To make matters worse, Connecticut is among the top ten states in America with the most speeding tickets, so if you're reading let's just say that you've most likely gotten a ticket.

But let's address the matter at hand, how much will your insurance increase after a speeding violation. But first, let's see why it increases.

Why do speeding tickets matter to insurance companies?

The price of your auto insurance depends on a range of factors. Some of these may be specific to your individual circumstances. One potential factor is your personal driving record. According to the National Association of Insurance Commissioners (NAIC), auto insurers may take into account your driving record when setting the cost of your insurance. Traffic violations, such as speeding tickets, are considered part of your driving record. Insurers may consider that traffic violations increase your risk of having an accident or making an insurance claim. The perception that you're at higher risk of an accident may affect the cost of your insurance.

How will a speeding ticket affect my insurance?

How much your auto insurance premiums will increase, if at all, after you receive a speeding ticket depends on several factors. The first is how much you were exceeding the sneed limit. Drivers ticketed for speeding 15 miles or more over the speed limit receive higher rate increases. The next factor relates to repeat violations.

If you are receiving multiple speeding tickets, regardless of severity, you are probably going to see a rate increase. Finally, many states use a points system for moving violations and insurers also associate risk with these points. The more points you have, and the longer they are on your record, the higher your auto insurance rates.

Speeding tickets can not only result in increased rates, but there are some other consequences as well. You can lose out on safe driving discounts that you would have otherwise earned over time with your insurance company. Also, if you get enough moving violations, your insurance company might cancel your policy, and you'll need to seek coverage through your state's risk plan. This type of plan is usually more expensive than a standard policy.

Insurance rate increases by violation:

*Note that these percentages are estimates and can vary drastically per claim

How long will a ticket affect my rates?

The look-back period differs by state and by company.

You should expect at minimum to be rated on violations, accidents and suspensions for the last three years. Some companies go back to the date of the incident, and others go back to the day of conviction.

Many companies will look back five or even 10 years for major violations such as a DUI. For instance, in California insurers aren't allowed to offer a good driver discount until 10 years have passed after a DUI violation.

And, just as a violation doesn't raise your rates until your insurer sees the offense on your MVR, the surcharge won't stop immediately when a violation falls off your record. You will have to wait until the next policy period when your insurer pulls your MVR.

For questions about how your auto insurance will be affected by a driving violation, please contact us at 203-269-9565.