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How will a traffic violation affect my insurance?

Seeing those flashing lights in your rearview mirror often makes your stomach turn. It is never fun to get a speeding ticket or other moving violation. Not only do you usually end up with a hefty fine to pay but also you have to worry about the impact on your auto insurance rates. While it may seem very random as to how your insurance company determines rate increases, there is actually a formula to it, according to the North Carolina Department of Insurance.

The fact is that your driving record is a main factor your insurance company uses to create your insurance rates. So, if you get points on your record, they will have a huge impact. The number of points you get determines how much your rates increase.

You can get different points for different infractions. Smaller points are typically for smaller infractions. For example, you would get one point for speeding 10 mph or less in a zone with a speed limit under 55 mph, but you would get four points if you were going over 75 mph in a zone with a speed limit under70 mph. The highest number of points you may get is 12. This is for the most serious offenses, such as getting a DUI or being at fault in an accident that kills someone.

For each point, your insurance premium goes up by a certain percentage. For one point, the increase is 30%. Two points is a 45% increase, and three points is an increase of 60%. Four points leads to an 80% increase, while eight points causes a 195% increase. Finally, 10 points brings a 260% increase while 12 points will increase your premium by 340%.

Keep in mind that your insurance company looks back three years at your record, so even if you have recently been a good driver, your past record could impact your insurance costs. This information is for education and is not legal advice