Monetizing the Oops! Meter
Insurance.com launches new 'Uh-Oh! Calculator' that shows how common tickets boost auto insurance rates
Andy Bolig - May 15, 2012 08:58 AM
Everyone realizes a ticket is likely to increase your car insurance rates, but few drivers know by how much. Insurance.com's new “Uh-Oh! Calculator” tells you.
Insurance.com’s new interactive “Uh-Oh! Calculator” allows you to compute the average percentage increase to your auto insurance rate for 14 common violations. Our analysis reveals that reckless driving is the most expensive violation among the infractions we surveyed, with an average rate increase of 22 percent. At the other end of the spectrum, driving without a seat belt triggers a relatively small 3 percent uptick.
"We all make mistakes, and doing so while driving will cost you. Of course, you'll know immediately how much you owe for your ticket, but often you won't know the impact of the ticket on your car insurance rate until you get your renewal from your insurer," said Michelle Megna, managing editor of Insurance.com. "The ‘Uh-Oh! Calculator’ helps ease ticket trauma by showing how much more you'll likely pay."
For more tailored results, use the “Uh-Oh! Calculator” to enter your own age, type of dwelling, state, marital status, and length of time you’ve been with your car insurance company. You can also see how many points are commonly associated with each infraction as well as other penalties levied under state laws.
See the full article, “Ticket? Uh-oh! Auto insurance rate increases for common driving violations" at http://www.insurance.com/auto-insurance/rate-increases-and-traffic-tickets.aspx.
Insurance.com analyzed more than 490,000 auto insurance quotes provided to Insurance.com users from 14 carriers between January 2009 and January 2011. We looked at quotes given to drivers with the 14 most common infractions recorded and compared them to quotes given to drivers with no violations. We used a model to estimate the annualized premium expected for certain combinations of personal attributes (residence, state, time with prior carrier, marital status and age) along with 14 violations. This ranking is not inclusive of all possible driving violations. Rates shown are averages; your own car insurance rates will depend on your personal factors.
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Based on Insurance.com's analysis of more than 490,000 auto insurance quotes given to drivers, here's how much common tickets will impact your rates on average:
1. Reckless driving: 22 percent
2. DUI first offense: 19 percent
3. Driving without a license or permit: 18 percent
4. Careless driving: 16 percent
5. Speeding 30 mph over the limit: 15 percent
6. Failure to stop: 15 percent
7. Improper turn: 14 percent
8. Improper passing: 14 percent
9. Following too close/tailgating: 13 percent
10. Speeding 15 to 29 mph over limit: 12 percent
11. Speeding 1 to 14 mph over limit: 11 percent
12. Failure to yield: 9 percent
13. No car insurance: 6 percent
14. Seat belt infractions: 3 percent