Speed limits exist to reduce the possibility of a crash. State and local authorities establish speed limits based on the volume of traffic in an area and the overall use of the neighborhood. Motorists sometimes make the mistake of exceeding the posted speed limit by a significant amount.
Police officers may then initiate a traffic stop and issue a citation. Many people with outstanding speeding tickets choose the fastest solution, which is to pay the ticket right away. Some people view paying the ticket as an expedient and cost-effective solution without realizing how expensive doing so might actually be.
Paying a ticket is the equivalent of entering a guilty plea to allegations of a traffic violation. The motorist acknowledges their fault and accepts the penalties imposed by the state. The secondary consequences of accepting a traffic citation can drastically increase the total economic impact of a ticket.
Tickets influence insurance costs
Minor speeding tickets can cost between $10 and $50, although judges have the discretion to set the fine amount in more serious cases. There is also a potential $250 surcharge for tickets issued in a school zone or near road construction zones.
When looking at average car insurance costs, a single speeding ticket can cost far more than people expect. The average driver pays $1,775 for full coverage in North Carolina or $522 for the minimum coverage required by law. After just a single speeding ticket, the cost for full coverage increases to $2,656. That’s a 50% increase in insurance costs! Someone paying for minimum coverage can expect their rates to increase by 47% to an average of $767.
Those with prior tickets may find that their costs increase even more than that. Those increased costs typically last multiple years after someone pays the citation. In some cases, a speeding ticket could put someone at risk of temporarily losing their license, which can have both personal and career consequences for the motorist. Therefore, fighting a traffic ticket is often a more cost-effective solution than paying the ticket and essentially pleading guilty.
Understanding the long-term impact of a traffic ticket for speeding can help a driver choose the right response. For many motorists, fighting a ticket is a better choice than paying the ticket.