How a speeding ticket impacts your insurance in Colorado

Speeding tickets are one of the most common traffic violations, but even a single speeding ticket increases average car insurance rates substantially. In Colorado, the average annual full coverage auto insurance rate is $2,121 before a ticket. After a speeding ticket conviction, the average annual car insurance premium goes up to $2,539, about a 20 percent increase, according to Bankrate’s 2023 study of quoted annual premiums. Let’s look at some of the factors that may impact your premium following a speeding ticket.

How much is a speeding ticket in Colorado?

Like most other states, speeding penalties imposed in Colorado increase significantly as the speed increases. Colorado’s advertised speeding ticket pricing is as follows:

• Driving so slowly that you impede the flow of traffic or driving 1 to 4 mph over the speed limit, the fine is $30.

• 5 to 9 mph over the speed limit, the fine is $70.

• 10 to 19 mph over the limit, the fine is $135.

• 20 to 24 mph over the limit, the fine is $200.

A conviction for driving 25 miles per hour or more over the speed limit is a criminal misdemeanor and may generate a fine between $300 and $1000. Convictions may also come with potential jail time up to one year.

How much does a speeding ticket increase your car insurance in Colorado?

Drivers in Colorado can usually expect to see an auto premium increase following a speeding ticket, but the amount your rate increases depends on several factors, including your gender.  Men typically see higher average car insurance rates than women because they have been statistically shown to engage in riskier driving patterns. Below you can see the average pre- and post-ticket rates for men and women in Colorado based on data from Quadrant Information Services.

How to lower your car insurance after a speeding ticket in Colorado

Although an insurance surcharge may seem scary, there are a few steps you may be able to take to counteract this rate increase, especially if it’s your first speeding ticket.

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Get quotes from other car insurance companies

There are many factors that auto insurance companies consider when determining rates for policies. Comparing rates from other carriers may show you if one company could offer you a more competitive rate based on your new driving history. Below you can see average rate increases from some of Colorado’s best car insurance companies following a single speeding ticket conviction.

*Premiums are average annual full coverage premiums for 40-year-olds

Look for discounts

Most car insurance companies offer several discounts that may help reduce car insurance premiums. These may even be stackable for substantial savings. As you compare car insurance companies, you may want to look for these common savings opportunities:

• Good student discounts: Many car insurance companies reward students who maintain a strong GPA or leave their car at home while away at college.

• Bundling discounts: You might save on one or both policies if you buy your car insurance from the same company that writes your home, motorcycle, boat or renters insurance.

• Payment discounts: These are typically some of the easiest to earn and may include paying your premium in full and enrolling in automatic or paperless billing.

Frequently asked questions

• • What is the best car insurance company for drivers with speeding tickets?

    There is no single best car insurance company for all drivers who are dealing with a speeding ticket. A number of factors unique to each individual come into play and the best approach is likely to obtain several quotes from reputable and recommended insurers in Colorado. Comparing these quotes may help you determine what company can offer the coverage you need at an affordable price.

  • Do I have to tell my insurance company about a speeding ticket?

    No, you are not required to voluntarily disclose a speeding ticket to anyone, including your insurance company. However, it is likely that your auto insurance company will discover the ticket during a policy renewal by looking at your Motor Vehicle Record (MVR). Note that even if you switch insurers, another carrier will also evaluate your MVR when determining your rates.

  • What is the cheapest car insurance company?

    Since all insurance companies have a unique rating system and offer unique discounts, there isn’t one car insurance company that is cheapest for all drivers. The best way to find the cheapest car insurance rates for you is likely by researching several companies and requesting personalized quotes. This may show you which of your desired carriers offers the lowest rates for your circumstances.

• Methodology

  Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person

  • $300,000 bodily injury liability per accident

  • $50,000 property damage liability per accident

  • $100,000 uninsured motorist bodily injury per person

  • $300,000 uninsured motorist bodily injury per accident

  • $500 collision deductible

  • $500 comprehensive deductible

  To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

  These are sample rates and should only be used for comparative purposes.

  Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket.

  Gender: The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, Pennsylvania.

  Age: Rates were calculated by evaluating our base profile (40 years) applied. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.