Explained: The Surprising True Cost of a Speeding Ticket

We’re all guilty of driving above the speed limit at some point. Maybe you’re late to work or just in a hurry, and you ignored the posted speed limit and received a speeding ticket.

Every year, the police issue roughly 41 million speeding tickets for a total of $6 billion in fines. If you’re currently between the ages of 17 and 24, you’re more likely to get a speeding ticket. 

If you’re ever received a ticket, you know the power it can have to ruin your day. No one likes receiving an unexpected bill, even if you were the cause of it. 

But what you may not realize is that a speeding ticket costs a lot more than just a one-time fine. 

The thing to consider is if you’re prepared to pay hundreds more in insurance premiums. Depending on where you live, a speeding ticket could also mean a substantial increase in insurance payments.   

How Much Does a Speeding Ticket Cost?

Roughly 150,000 people in the U.S. receive a speeding ticket every day and pay an average of $150 for a ticket. However, the fine could be much higher or lower depending on the state you live in.

Depending on the extenuating factors and state laws, you could pay a wide range of fees. For instance, you’ll pay an average of $20 for a speeding ticket in Oklahoma.

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In comparison, Nevada comes down hard on speeding and can charge as much as $1,000 per ticket. These are some of the factors that will influence the cost of the ticket:

• Your previous driving record
• Whether the ticket was the first offense
• How fast you were driving
• The state and county you live in
• Extenuating factors, like if you were speeding in a school zone

Will a Speeding Ticket Affect Your Insurance Rates?

Yes, if you get a speeding ticket, you can expect to see your insurance rates go up. That’s because insurance companies base the premiums on how much risk they are taking on. 

Speeding is seen as one of the largest contributors to at-fault auto accidents. So if you get a speeding ticket, this means it’s more likely your insurance company could end up paying on a claim. 

To mitigate these risks, your insurance company charges you higher premiums. But in addition to increased premiums, a speeding ticket can affect your insurance in other ways. 

If you have multiple tickets or traffic violations, you could lose out on opportunities to lower your insurance costs over time. That’s because insurance companies tend to reward careful, experienced drivers with the lowest rates.

If you receive enough traffic violations, your insurance company could drop you as a customer altogether. And without auto insurance, you’ll be liable for paying a lot more if you get in an accident. 

If you recently got a speeding ticket and wonder how much your premiums will go up, check out this free Traffic Ticket Calculator. It can help you figure out how much your insurance premiums may rise.  

What Should You Do After Receiving a Ticket?

Even the most careful drivers can get hit with the occasional speeding ticket. The speed limit may suddenly drop, and you were just distracted and didn’t notice. If you do get stuck with a ticket, here are a few things you can do going forward:

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• Focus on safe driving: Obviously, the first place to start is to focus on not speeding anymore. The better your driving record is, the fewer tickets you will receive and the lower your insurance premiums will be.

• Switch your coverage: If your premiums go up, you may lower them by switching your coverage. It would be best if you spoke to an experienced insurance agent to find the best coverage for you. 

• Take a defensive driving class: Depending on the state you live in, you may be able to lower your premiums by signing up for a defensive driving class. Most insurance companies offer a discount between 5% and 10%. 

• Fight the ticket: Finally, if you believe you shouldn’t have received a speeding ticket, you can fight it in court. Fighting a speeding ticket is not as difficult as you might think. Only 5% of people fight a ticket in court, and of those who do, most either receive reduced charges or have their case dismissed altogether.

The Bottom Line

Receiving a speeding ticket can result in a hefty fine, and it will cause your insurance premiums to go up. But if you follow the steps outlined in this article, you can mitigate some of these costs in the future.