You’re returning from a perfect weekend getaway, and a trooper nabs you while you’re still out of state.
Do you admit guilt, drop the payment envelope in the mail, and have it be history…or do you throw it in the trash and hope it just goes away?
Neither, exactly. And just to clear up some misconceptions, this is definitely not a case of, “what happens in Vegas, stays in Vegas.”
If you understood the massive stakes involved, you’d do your research, maybe hire an attorney, and even if you have a clean record do your best to have the ticket reduced or, better yet, thrown out.
The days of speeding tickets simply going away, even if they’re out-of-state, are long gone. And it’s important you do something about it because a speeding ticket can come back to haunt you for years, in ways that you probably hadn’t thought possible.
Unseen affects, budget-hemorrhaging results
Most drivers know that having speeding tickets on their record will raise their auto insurance rates, but few are aware that, depending on where they live, it can affect them in a myriad of other ways, seemingly unrelated to driving. Like when you apply to get a new life insurance policy, to insure a boat, or even to apply for a business loan.
This could mean thousands of dollars. And that’s even before considering that an unsettled ticket could find its way to your credit score to wreak further havoc.
Technically, if you’re a repeat speeder, you’re risky business, and that risk might apply to other aspects of your life—or so say the actuaries, those who arrive at the methodology that takes all those seemingly insignificant factors in your profile, weighs them with factors like your driving record, and determines whether or not you’re high risk. Simply put, whether to charge you a few hundred dollars or a couple thousand on your next insurance premium is a matter of calculated risk.
The business of risk
If you’re one to argue that speeding doesn’t necessarily place you at a higher risk, you’re not going to find much sympathy from insurance companies. As they’re in the business of risk, they raise rates because with habitual speeding comes a much greater chance of injury, property damage, or death. Excessive speed is attributed in the worst, most costly accidents. In about one third of all fatal crashes, 26 percent of injury accidents, and 15 percent of property-damage-only accidents, speed is a factor. According to the Insurance Institute for Highway Safety (IIHS), more than 1,000 Americans die every month due to speed-related crashes. Read the rest of this entry »
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