The true price of speeding: a look at the legal and financial repercussions
As simple as Speeding may seem to many drivers, often times it can lead driver's down a path of unintended consequences which could end up costing both your wallet and your future. Every driver should be aware of the legal and financial ramifications for speeding. So we are jumping in deep to cover the true cost of speeding and not only what it can be but actually is like.
Legal Consequences
Traffic Offences and Fines
Receiving a traffic ticket is likely an instant consequence whenever you are caught speeding. The punishment would be harsher or weaker according to the degree you went above the speed limit. Small infractions could be met with monetary fines, while excessively surpassing the limit may result in thousands of dollars worth of penalties and on some occasions misdemeanor charges.
Points on Your License
For example, when you receive a speeding ticket, these traffic tickets come with points added to your license. When you accumulate too many points, you can face greater penalties like license suspension or revocation. The only purpose of a slip is to reset points — and an accurate count helps insurers be fair when they consider your case in the event you want something else from them (like get new coverage or renew what you have).
Court Appearances
On some occasions, especially high-speeding or repeated offenses you must appear in court. You might have to go multiple times before actually appearing in court and going along with legal counsel will only increase cost as well as stress.
Financial Consequences
Increased Insurance Rates
Arguably the most serious financial consequences from speeding are felt on your auto insurance rates. While this is true across the board, insurance companies take speeding in an especially severe light as it signals a predilection for risky driving behavior and therefore can cause your premiums to go up. Over time these costs can add-up to hundreds and even thousands of dollars!
Fines and Legal Fees
On top of these first offense fines and penalties for speeding, there will be other costs as well such as attorney fees if you decide to take your ticket to court. The immediate payment, should you choose not to contest the ticket — getting a speeding fine via radar is historically difficult if not impossible to appeal in NSW unless there are extenuating circumstances[3]—is your first cost.
Additional Costs
If an accident occurs when you are driving too fast, the financial ramifications can quickly become far more serious. In any incident, the costs will be high between medical bills, auto repairs and possible reparations if you are at fault. Also, if they find out that driving too fast played a role in the crash then you may be setting yourself up for additional legal troubles and hefty financial responsibilities.
Conclusion
The repercussions of speeding are more than just a temporary glee over extra speed to the destination. The consequences on your future legal status and monetary standing could last a lifetime. To avoid these hefty costs, be sure to drive the speed limit safely. This keeps you secure and also your financial health from the loss of personal information /ransom payout. But, again it comes back to the fact that there are too many risks for marginal rewards.
