Seeing those blue lights in your rear-view mirror is always a drag, and if that traffic stop winds up leading to a ticket, your wallet may take a hit in the aftermath. While your ticket may state that you owe a specific amount, after factoring in other considerations, such as a rise in insurance rates, the true cost of it may prove much higher than what the ticket shows.
How much of a financial toll might an Illinois speeding ticket take?
Average initial costs
According to NerdWallet, the average cost of an Illinois speeding ticket is about $164. Keep in mind that this number is subject to change based on factors such as how fast you were traveling, among other considerations, but this should give you a ballpark idea of how much a typical ticket costs.
In most cases, that traffic ticket is going to lead to an increase in insurance premiums. While the length of time the ticket should affect your insurance may vary, it may remain on your record and impact insurance premiums for as long as three years.
Once you factor in how much the ticket may raise your insurance rates, the true cost of your ticket may be 6.85 times that which appears on the ticket, itself. According to 2020 estimates, an average 40-year-old Illinois motorist watches his or her cost of full-coverage auto insurance rise by 27.5%, or $320 each year.
After adding up the costs of increased insurance over that assumed three-year period, the true cost of that $164 ticket is going to fall closer to $1,124.