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Released: May 31, 2011
Tempted to speed? Consider your auto insurance
Source: Ann Carrns, N.Y.Times (Free Registration)
Steep prices at the gasoline pump aren’t the only thing drivers need to worry about this summer travel season. Speeding tickets and other moving violations can increase your automobile insurance rates by double digits, a recent analysis shows. So you might want to slow down or even stop when the traffic light turns yellow, instead of accelerating and trying to get through before it turns red. (Apologies to those of you who are already among the 15 percent of drivers who know what a yellow light means.) Insurance.com, an online insurance site, surveyed 32,000 policies sold in 2010 and found that costs jumped 18 percent after one moving violation, and 53 percent after three, when compared with rates for drivers with clean records. Drivers with no violations paid $1,119 a year on average, while drivers with three violations paid $1,713.Read Full Article: Tempted to speed? Consider your auto insurance
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