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

Answer: $293-$381, 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): 

While violations like not buckling your seatbelt are pretty straightforward, others come with degrees of severity. If you’re caught speeding, for example, just how fast you were going over the speed limit will impact the size of your insurance penalty. Getting ticketed for driving 6-10 mph over the speed limit increases car insurance rates about 20%, while speeding 21-25 mph over the limit raises rates almost 26%.

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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

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

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