You Could Get an $1140 Speeding Ticket
You are probably not the type to try to set a land-speed record but getting an expensive ticket is a lot easier than you think…
Let’s say that you unfortunately become one of the over 100,000 people who will receive a speeding ticket today (about one in every six drivers get a speeding ticket in one year).
The average cost of a traffic ticket, including court fees, is roughly $150. Ouch. That’s enough to keep you motivated to do the speed limit, but the scary news is the affect speeding can have on your insurance.
Insurance.com did an analysis of more than 32,000 insurance policies sold (one-car, single-driver policies). Here’s the effect it could have on your insurance:
0 Violations = $1119 Average Annual Premium
1 Violations = $1318 Average Annual Premium
2 Violations = $1497 Average Annual Premium
3 Violations = $1713 Average Annual Premium
If you have just one violation that could raise your insurance premium by $199 a year. Multiply that by 5 years and add in the original $150 fine and your actual cost could be $1140. Two tickets would raise your five year cost to $2190!
If you’ve got a family policy and lose a good-driver discount, having a couple of tickets could get even more expensive.
There’s a good reason why speeding tickets can impact your insurance so much. According to the National Highway Traffic Safety Administration, nearly one-third of fatal accidents in the United States are due to speeding.
Not only is speeding expensive and unsafe, it also lowers your gas mileage. According to the U.S. Department of Energy (DOE), as a rule of thumb, you can assume that each 5 mph you drive over 60 mph is like paying an additional $0.18 per gallon for gas (at $2.50 per gallon).
Most speeding offenses are committed by people age 17 to 24, so if you know of someone in that age group – please share this article with them.