I am not sure if it's because I am getting older, but it seems that drivers on NH highways are going faster than ever. 70 mph is the new 55, while not uncommon to see drivers fly by at over 90 mph. This excessive speed also has consequences, as you can't turn on the local news without hearing about a fatal accident, highway shutdown, or police chase caused by speeding drivers.
As I putter along the highway at a comfortable 65 - 70mph, I often think, "If people drive like this all the time, how do they even afford their insurance?" Here is some insight on how speeding can impact your NH car insurance.
Speeding tickets are perhaps the most common type of moving violation. Whether 15 miles per hour over the speed limit in a 65, 10 mph over in a school zone, or any other amount above the posted speed limit, getting a speeding ticket will undoubtedly affect your auto insurance. Here’s what could follow if you’re a New Hampshire driver.
New Hampshire state law applies fixed fines for speeding tickets. The fine amount depends on the posted speed limit, your excess speed, and other factors such as whether you’re in a construction zone. The state’s cutoffs generally are as follows:
Depending on these factors, a speeding ticket could result in anywhere from $62 to $496+. These costs don’t include any additional tickets, court fees or other expenses -- nor do they include an auto insurance rate increase.
Speeding more than 100+ mph is clearly defined as reckless driving by state law. This isn’t the only behavior that can get you a reckless citation, though. Extreme excessive speeding in a zone with a lower posted speed limit, racing on public roads, and other dangerous driving can also result in a reckless citation.
Reckless driving normally carries a $500 fine for the first offense and a $750 fine for the second offense (in addition to other tickets). You can also expect a license suspension for 60 days the first time and for 60 days to 1 year for the second.
Your auto insurance rates will increase after a speeding ticket. The amount of the increase depends on many factors, such as driving history, personal risk factors, ticket severity, and claims history. A few select policies have a one-time forgiveness feature that might not raise your rates (these aren’t common).
As a very general guideline, expect a rate increase of 25% for a moderate first-time speeding ticket. The amount can be much, much more if you’ve had multiple tickets, are considered a high-risk driver, or are far above the posted limit.
This increase will likely remain a rating factor on your policy for three to six years, depending on the carrier and how far back they consider moving violations.
You won’t see rates increase the day you’re cited. Any impact on your rates won’t go into effect until your ticket is finalized and your policy renews.
Insurance companies do not add violations onto a policy mid-term, which sounds nice; however, they also don't fall off mid-term.
If you’re assessed a speeding ticket, there are several ways to hopefully mitigate the financial fallout. Some of your options are:
Apart from getting the ticket dismissed, the next best step is to speak with your local independent insurance agent. They may be able to help you find a carrier that is more forgiving of a premium increase. To speak with an independent insurance agent in New Hampshire, contact us at HPM Insurance.
Finally, the very best way to avoid the headache of fines and premium increases may be to slow down.