The words “economical” and “insurance” really don’t belong together, in particular when you are searching for the best car insurance rates after a speeding ticket. Because it’s so expensive, let’s lead off by showing you some situations that impact auto insurance prices, and figure out some ways to shave a little off the next policy you buy.
The vehicle you are trying to insure is one of the largest considerations when quoting affordable car insurance after a speeding ticket. Vehicles with average performance, advanced safety features, or a positive history of liability claims will cost less to insure than fast, unsafe models.
The data below estimates auto insurance premiums for a handful of the cheapest vehicles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $6,375 |
| Hyundai Elantra GLS Touring Station Wagon | $6,380 |
| Honda Accord LX-P 4-Dr Sedan | $6,375 |
| Honda CR-V LX 2WD | $6,523 |
| Volkswagen Jetta 2.0T Station Wagon | $7,030 |
| Chevrolet Equinox LT AWD | $7,076 |
| Toyota Prius | $7,095 |
| Dodge Grand Caravan CV | $7,123 |
| Ford Explorer Limited AWD | $7,210 |
| Ford Edge Sport AWD | $7,473 |
| Chevrolet Impala LT | $7,547 |
| Nissan Altima Hybrid 4-Dr Sedan | $7,607 |
| Chevrolet Malibu LTZ | $7,614 |
| GMC Sierra SLT Extended Cab 2WD | $7,607 |
| Toyota Tacoma Double Cab 4WD | $7,695 |
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Data rating is based on single male driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Michigan minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, and homeowner. Price information does not factor in the specific area where the vehicle is garaged which can change coverage rates greatly.
Looking at the rates, makes and models like the Ford Escape, Hyundai Elantra, and Honda Accord are most likely going to be some of the most budget-friendly vehicles to insure after a few driving violations.
One of the many considerations that are looked at to determine the amount you pay each year for auto insurance is where you normally keep your vehicle in Detroit. Areas with high crime rates or more dense population tend to have higher auto insurance costs, whereas areas with less congestion receive better rates.
The following table shows the most expensive cities in Michigan after a speeding ticket in which to buy car insurance. Detroit ranks #1 with an annual premium of $4,960 for the average insurance policy, which is approximately $413 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Detroit | $4,960 |
| 2 | Southfield | $4,020 |
| 3 | Dearborn | $4,002 |
| 4 | Pontiac | $3,675 |
| 5 | Warren | $3,390 |
| 6 | Flint | $3,337 |
| 7 | Dearborn Heights | $3,207 |
| 8 | Taylor | $3,116 |
| 9 | Sterling Heights | $3,014 |
| 10 | Westland | $2,908 |
| 11 | Livonia | $2,714 |
| 12 | St. Clair Shores | $2,709 |
| 13 | Farmington Hills | $2,676 |
| 14 | Novi | $2,539 |
| 15 | Royal Oak | $2,537 |
| 16 | Troy | $2,536 |
| 17 | Saginaw | $2,507 |
| 18 | Rochester Hills | $2,492 |
| 19 | Battle Creek | $2,378 |
| 20 | Lansing | $2,367 |
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Rate quotes are comparative as zip code location can raise or lower price quotes noticeably.
Rate increases following a ticket or accident
The easiest way to snag good car insurance premiums in Michigan after a few driving violations is to pay attention while driving and maintain a clean driving record. The example below shows how violations and at-fault collisions impact premium costs for each age group. The data is based on a married female driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of a car insurance policy per year with a clean driving record and no accidents is $3,694. Get written up for one speeding ticket and the average cost hikes up to $4,310, an increase of $616 each year. Now add in one accident along with the one speeding ticket and the annual cost of car insurance after a speeding ticket goes up to an average of $6,055. That’s an increase of $2,361, or $197 per month, just for not being more responsible behind the wheel!
Cost difference between full coverage and liability
Finding cheaper car insurance is probably important to most drivers, and one easy way to save on the cost of insurance after a speeding ticket is to only buy liability insurance. The chart below compares premium costs with liability coverage only compared to full coverage. The premiums are based on no claims or driving citations, $100 deductibles, single status, and no other discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage on your policy costs an extra $5,275 per year more than just insuring for liability. Lot’s of drivers question when is the right time to remove full coverage. There is no written rule for eliminating physical damage coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s pretend your vehicle’s settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $8,000 after paying your deductible. If it’s costing in excess of $800 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
The chart below demonstrates how deductible levels can affect annual premium costs when trying to find cheap insurance after a speeding ticket. The data is based on a single female driver, full coverage, and no discounts are taken into consideration.
In the chart above, a 50-year-old driver could reduce rates by $740 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $1,114 by switching to a $1,000 deductible. Younger drivers, like the Age 20 category, could save up to $1,900 annually by choosing a higher deductible.
If you do decide to increase your deductibles, it’s a good idea to have emergency funds available to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.