How Your Driving Record Impacts Your Finances

Posted On: October 16th, 2014 by Bradley J. Groene

When we get a traffic ticket for speeding or some other relatively minor infraction here in Cincinnati, it is tempting to just pay the fine and move on. The cost of a ticket is high, sure, but the hassle of going to court to fight the ticket and the cost of hiring a traffic attorney in Cincinnati to help you fight it often seems too much to be worth it. However, this is a very short-sighted view. A traffic ticket inherently includes costs that we don’t often consider.

Even One Ticket Can Increase the Cost of Car Insurance Over 20 Percent

The most direct financial cost of a traffic ticket aside from the fee itself is that it can increase your insurance rates. Most people assume that one ticket will not seriously affect your insurance rates, but this is not necessarily true. In a study by Bankrate, it was established that a ticket for speeding between one and 15 miles per hour over the speed limit can increase your insurance by an average of 21 percent even for a first offense if you get any points against your license. This increase jumps to an increase of 28 percent in insurance rates if you are driving 16 to 30 mph over the legal limit. In fact, a single moving violation can raise your premium by as much as 93 percent, according to a study commissioned by

If you do not fight a ticket in traffic court, but rather simply pay the fee, the points will be automatic. When your insurance company checks your driving record next, they have the right to automatically raise your rates. If the ticket is for a driver under the age of 25, the price increase can be even more dramatic. In Ohio, points stay on your license for three years, which means that you will be paying for the speeding infraction every month until this time passes.

Other Financial Costs of a Cincinnati Traffic Ticket

Another thing to remember is that if you do not contest this ticket and you get another ticket within a short amount of time, you will be charged more for the ticket as a chronic violator. Plus, it can be harder to fight. You will inevitably need the support of a traffic lawyer to contest the ticket, and the courts will be less sympathetic, as it shows evidence of a pattern. All related fees will end up being higher.

Another financial cost of a traffic ticket is an unexpected one: it can affect your credit score. Your credit score and insurance score are closely linked in order to establish your trustworthiness as a creditor. Because of this, if the infraction negatively affects your insurance score, it can potentially have a similar impact on your credit score.

These are all serious costs that you have to take into consideration before accepting responsibility for a traffic infraction. By fighting your ticket, you are likely to avoid serious costs that can impact your life for years to come. The best thing that you can do is to fight the ticket. Hiring a Cincinnati traffic lawyer like Brad Groene from Luftman, Heck, and Associates can help. A traffic attorney will be prepared to get you the best outcome possible, as he has years of experience with the system. Let us help you keep your finances in good shape in the long term. Call Brad today at (513) 338-1890 for a free consultation on your specific case, and to discuss his simple monthly payment plans to help make the whole process easier from a financial standpoint.