There are multiple ways that a speeding ticket can affect you. Many people focus so much on the immediate frustrations of a ticket that they don’t think about the bigger picture.
There are undoubtedly short-term consequences caused by the delay of the traffic stop. You might miss an important meeting or arrive to work late and face disciplinary measures. Rather than miss more work to fight the ticket, you might think that paying it is the most logical resolution to the situation.
However, paying your ticket will add points to your license. You also will have costs beyond just the flat expense of the ticket itself. Pacifically, you can expect that your New York motor vehicle liability insurance policy premium will also increase. What does a traffic ticket do to your insurance costs?
A single ticket will significantly increase your costs
According to an analysis of 2021 insurance premiums, a single speeding ticket will increase what you pay for coverage by 14% on average. However, the effect of the ticket on your costs will depend on your age, your background and even your sex.
Younger drivers and those with previous traffic infractions on their records may see a bigger increase in insurance premiums. Men will also typically suffer a bigger increase in their costs than a comparable woman would after receiving the same citation. Although women pay more for coverage with a clean driving record, they will see less of an increase after a citation.
A breakdown of rates shows that a 40-year-old man will have a 17% increase, while a woman then same age would only have a 12% increase. Overall, that averages out to the 14% figure presented as the typical increase.
Fighting a ticket can be a less expensive choice
Your insurance premium may remain higher for several years after just one ticket. If you get any additional tickets before this recent citation comes off of your record, your insurance premium will likely go up even more.
Fighting a ticket will usually cost a bit more than just paying the citation amount. However, when you look at the long-term impact of insurance costs and the risk of losing your license if you get enough tickets on your record, defending yourself against the ticket could be a good investment. Learning more about the consequences of traffic infractions can help you protect your driving record and your budget.