How Much Does Insurance Go up with 2 Points?
If you’ve recently received two points on your driving record, you may be wondering how this will affect your insurance rates. In this article, we will explore the impact of having two points on your driving record and what you can expect in terms of increased insurance costs.
Understanding the Points System
Before we delve into the effects of having two points on your insurance rates, it’s essential to understand the points system. Traffic violations and accidents are assigned point values based on their severity. Some minor violations, such as tailgating or speeding a few miles over the limit, might only carry one point. More serious offenses, like reckless driving or DUIs, can result in multiple points or even license suspension.
When it comes to auto insurance companies, they take these points into account when determining your premiums. An individual with a higher number of points is considered more likely to be involved in accidents or commit traffic offenses, and therefore carries a higher risk.
How Much Will Your Insurance Rate Increase?
Now that we have an understanding of the points system let’s explore how having two points might affect your insurance rates. It’s important to note that there isn’t a one-size-fits-all answer, as different carriers will react to point additions in varying ways.
However, here are some general guidelines to help you understand what kind of rate increase you can anticipate:
1. Minor violations (e.g., speeding ticket): An increase of around 10% – 20% in premiums is common for a first-time minor violation that results in two points.
2. Major violations (e.g., reckless driving): A more severe offense can lead to a premium increase anywhere between 20% – 50%, depending on the insurer and state laws.
3. Multiple violations within a short time frame: If you accumulate two points from multiple incidents within a few years, this could signal a pattern of high-risk behavior, potentially leading to a more substantial rate hike.
Keep in mind that these rate increases can vary widely by state, the insurance company, and your specific policy. Some carriers may have specific programs or forgiveness policies that could reduce the impact of points on your premiums. For instance, you may be eligible for traffic school which can help remove or lower the number of points on your record.
Conclusion
The impact of having two points on your driving record can result in a noticeable increase in your auto insurance premiums. While there’s no universal answer to how much you can expect your rates to go up, it is likely that they will be affected to some degree. To mitigate this impact, be proactive about maintaining a clean driving record and inquire about options for point reduction or forgiveness with your insurer. In the long run, maintaining good driving habits will save you money on your insurance and keep you and others safe on the road.