Car insurance providers use a wide range of variables when calculating the prices for each policy. However, these determining criteria don’t favor college students. College students face costly car insurance payments that might burden their budget.
Some of the primary determinants of car insurance prices for college students include the following:
- Age. Younger students tend to have more accidents; hence the car insurance might be high.
- Experience and driving history. Students with no violations and accidents tend to have better premiums than those with blemishes.
- Credit history. Most college students do not have a solid credit history and tend to pay higher premiums.
- The car usage. Students who use their cars more often are likely to pay more premiums.
- Gender. Male students tend to be more risky drivers and are likely to pay higher premiums than female students.
Types of Traffic Violations
Traffic police normally issue traffic tickets to road users violating traffic laws. They are typically in two categories, moving and non-moving violations. The moving violation tickets might be exceeding a speed limit, failure to observe traffic lights, and reckless driving. The non-moving violation can be a parking violation.
What Impact do Speeding Tickets Have on Insurance?
One of the easiest ways to increase your vehicle insurance rates is by getting a speeding ticket. Sometimes, a single offense will increase your charges, and further offenses will make that increase to be compounded. You can anticipate an increase in insurance rates if you get two or more speeding fines in three years. However, you cannot have insurance increases if this is your first and only violation.
In most cases, the speeding tickets remain on your records for three years. However, the impact of the speeding ticket is influenced by other factors, including the speed you were using, the insurance company, your insurance history, and your driving record. In addition, speeding tickets can raise your car insurance ticket by up to 21.2% in most states.
Depending on how long your state retains violations on its records, speeding fines may disappear from your driving record after 3 to 5 years. Remember that when you obtain a quotation, most car insurance providers will also inquire about any speeding fines you’ve had during a given period.
Certain states use a “point system” for traffic offenses. In states with a point system, points on your driving record are comparable to demerits that keep track of your history and behavior behind the wheel under your license number. You may be subject to severe repercussions if you reach a certain amount of points within the period specified by your state.
How Other Moving Violations Might Impact the Car Insurance
Based on how your state and insurer evaluate the violation, each offense that shows on your driving record may cause a rise in your car insurance cost. Each time you violate a traffic law, you will often have several points added to your license. However, the exact amount and penalties vary based on state.
For instance, if you speed, Florida will add 3 points to your license. The state has two options if you get eight or more points in a year: you must go to driving school, or your license is suspended for a year. With more than 13,000 car accidents in Polk County, FL alone, there are a lot of people facing this decision.
Although points aren’t directly taken into account by insurers when determining your car insurance quote, your cost is likely to go up if you’ve scooped up a lot of points for moving violations. Here’s how other common moving violations can impact a college student’s insurance premium.
- Some states treat texting and driving as minor offenses impacting the premium charged.
- Red-light camera tickets can be treated as minor offenses in some states, but in others, it is not.
- Failure to stop may or may not be treated as a violation, depending on the state.
- Out-of-state tickets are treated as offenses, and they raise your premiums
Some states are No-Fault states, which doesn’t necessarily place blame on a motorist. However, you may have to deal with points and other fines or obligations. It’s best to speak to an attorney, in the event of an accident, speeding ticket, or moving violation.
What Impact Do Parking Tickets Have on Insurance?
Parking tickets do not appear on your permanent driving record and do not affect your driving privileges. There shouldn’t be any further repercussions if you make the payment on time. Parking fines are no-point tickets, meaning they won’t add any more points to your record, but you can’t lower your points by paying the ticket.
When Can The Parking Ticket Affect Your Car Insurance?
Only moving offenses related to your risky driving are considered by insurers. Anything else qualifies as a non-moving offense and won’t immediately impact your insurance rates, such as a parking penalty or excessive exhaust noise. However, if you fail to pay several parking tickets, you can face repercussions that raise your insurance premium.
Luckily, your credit score is not affected by non-moving violations. All tickets, including parking and traffic tickets, do not impact your credit score. As such, parking infractions cannot impact your credit-based insurance score.
Your insurance premiums shouldn’t affect your parking tickets going to collections unless you reside in one of the few states where it is against the law to consider credit scores when determining rates. However, an unpaid ticket might impact the cost of your motor insurance. It can be turned over to a collection agency, which is considered when calculating your credit score.
Unfortunately, your driver’s license may be suspended in several states if you do not pay a ticket. Since many states demand that you submit an SR-22 if your license has been suspended, this may result in a considerable increase in insurance costs. An SR-22 informs your insurer that you’re a high-risk driver more likely to need a claim settlement, and the SR-22 insurance is far more costly than standard insurance.
Do Other Non-moving Offenses Have an Impact on Insurance?
While each traffic offense on your record may impact your insurance, non-moving offenses often have no impact. Parking fines, broken lights, and expired registrations do not affect the premium you pay.
Maintaining safe driving practices is the best method to prevent a moving violation that might appear on your record and raise your insurance premiums. If you’ve received a few parking tickets that you swiftly paid, they shouldn’t affect your insurance premium.