Do Speeding Tickets Affect My Car Insurance?


How do speeding tickets affect insurance rates?

Speeding tickets are one of the most commonly received traffic convictions and odds are you will at some point in your life receive at least one speeding ticket. So how does this affect your car insurance rates? In this blog, we will detail some important facts to understand as it relates to speeding tickets and your insurance rates.


Will my insurance rates increase with 1 speeding ticket conviction?


In short, the answer is almost always yes. Some companies do offer a form of Conviction Protection which can prevent your first ticket from affecting your rates. However, if this is not noted on your policy the speeding ticket will likely impact your renewal rate. Some companies do offer a conviction free discount which usually ranges from 10-15%, typically your biggest premium increase will be from the loss of this discount.


I was charged with Speeding – does it matter how much I am over the limit?


Depending on your KM/h over the limit the threshold for a minor speeding ticket is typically from 5KM/h to 49KM/h and auto insurance underwriters will rate accordingly. Anything above 49KM/h will typically be rated for as a Major, Serious or Criminal conviction at which point your insurance options are limited and you may find yourself within the High Risk insurance category.

Do demerit points affect my car insurance?

As we have explored in some of our previous blog posts, demerit points are not used in insurance underwriting, nor are there any questions on the OAF 1: Ontario Application for Automobile Insurance which asked you to disclose your demerit points.


How long will this Speeding ticket affect my insurance rates?

Convictions will remain on your record for 3 years from the conviction date. Most insurance companies will not change your driving record mid-term so, for example, if you have a ticket that drops off of your record in December 2018, and your policy does not renew until February 2019, you would not see a change in rate until your February 2019 renewal.


At what point am I deemed “High Risk”?

Every insurance company in Ontario will have different underwriting rules & guidelines. A vast majority of insurers typically accept up to 2 minor convictions depending on your driving record & claims experience. Once you are above 3 minor convictions or you have a combination of at-fault claims & convictions you are then most likely to only qualify for car insurance through a high risk insurance company.


As with all insurance matters, it is important to talk with a licensed insurance broker who can help give advice specific to your situation. If you have any insurance questions or if you now find yourself having trouble getting insurance due to conviction history, give us a call at 1-877-454476 or visit our webpage to get a quote


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