You're driving along, singing with the radio, going about the same speed as the prevailing traffic, when all of a sudden you realize there's no one ahead of you, and there are twinkling red and blue lights in the rear-view mirror. You lower the volume on the radio, and hear sirens. At the same time that your mood begins to deflate, you pull over to the side of the road, and wait for the officer to come and ask the question no one ever wants to hear, "Do you realize how fast you were driving?"

Of course you smile at the officer, and trot out your best ultra-polite tones, but it doesn't matter, because within a few minutes he's gone, and you are in possession of a piece of paper you'd really prefer not to have to deal with: a speeding ticket.

Your first instinct may be just to pay the fine and move on with your life, but - wait a moment and rethink that decision. Instead:

• Call your insurance agent. Even a single ticket can cost more than just the fine, if it makes your rates go up. In some states (including Texas, New York, and New Jersey) a single ticket earns you a three-year surcharge on your insurance - even if you don't actually live in one of those states. Even worse, if you have four tickets in a three year period (or nine points on your driver's license), you could be forbidden from renting cars, driving company cars, or holding a commercial license. You can even be dropped by your insurance carrier. Placing a call to them, then, will help you determine your options.
• Consider your options. Paying a speeding ticket removes the fine, but affects your driving record. You could go to court to fight it, but let's face it - you were speeding. Unless the issue is an accident claim, going to court isn't going to be worth the time or effort. You can also opt to go to traffic school. This means either taking an online class, or sitting in a classroom for the better part of a Saturday, in exchange for which the ticket is wiped from your record (though in most cases you still have to pay the fine).

It's worth noting that even if traffic school doesn't expunge the speeding ticket from your record, it may help offset any increase in insurance rates. Defensive driving classes taken voluntarily will do this as well - sometimes as much as ten percent for three years.

How much can a single ticket cost? It depends, of course, on where you live, and how fast you were going, but for teen drivers, it can increase their insurance premium up to $1,000 / year, and it's probably not a surprise that young drivers are more likely to speed than any other group.

Being pulled over for speeding is embarrassing, and dealing with the paperwork afterward is frustrating, but if you take a moment to research your options, and then move forward with a plan, you can avoid hurting your driving record OR your insurance rates.