Is it legal for my insurance company to raise my insurance rates due to one speeding ticket?

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Is it legal for my insurance company to raise my insurance rates due to one speeding ticket?

I looked through state laws but can’t find anything specific about raising rates.

Asked on August 16, 2013 under Insurance Law, Colorado

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

It varies from company to company as to whether or not there will be an increase in insurance rates based on a single speeding ticket, however it is legal to do so. That having been said, often a speeding ticket won't have an immediate effect on rates. This is because most insurance companies do not look at an insured's driving record every month but, rather, do so when their contract is initially purchased or renewed. So if your driving record shows a speeding ticket when you're trying to purchase insurance you'll probably be charged more and if they notice it when the renewal occurs, your rates are likely to go up as well.


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