Thinking of putting that pedal to the metal? Not so fast...

Answer: $480-$648, depending on speed over the limit

Questions:

• Why do you think insurance companies raise rates for drivers that get speeding tickets?
• Do you think the current system of increasing insurance premiums for speeding tickets is an effective way to deter speeding? Why or why not?
• How might the cost of insurance impact a person's ability to afford a car and maintain their driving privileges, especially for younger drivers?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Zebra): 

The legal fine for a speeding ticket is about $150 on average. On top of that, ticketed drivers are likely to see their car insurance costs rise $540+ per year — for three years — after the violation. That means one speeding ticket can cost drivers more than $1,600 in insurance penalties alone.

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Check out NGPF's Insurance unit to get your students thinking about this important financial tool.

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COMPARE: Car Insurance Comparison Shopping will give your students an idea of what the car insurance marketplace looks like.

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

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