Essentially, the way it works is if you haven't received a ticket in the last 24 months, you can simply go onto the courts website, apply for the deferred prosecution, pay your fine, and if you don't have any other traffic tickets in the next year, then they dismiss the ticket--and it never is reported to your insurance company. 

If you are in Utah, the statutory fine for 0-10mph over is $130. If you are going to fight it, you will likely have to show up to court at least two-three times before trial, I assume your time is worth more than the $130...