Premium Increases for Teenagers & Speeding Tickets

How much would my car insurance premiums increase if I have one accident on my record and just received my first speeding ticket? I am 19 years old and have an excellent GPA.

Answer

It is impossible to quote you an exact number because your premiums depend on so many variables. Insurers all have different policies on how tickets impact premiums. While some companies have a first-ticket forgiveness policy, others will raise your rates as soon as they learn about the ticket. The fact that you are 19 and have an accident on your record means that your rate increase will probably be higher than it would for other drivers. Unfortunately, your GPA might win you a small discount with your insurer, but it will not be enough to combat the rate increases that come with accidents and moving violations. One option you might consider is attending traffic school if you can. You might be able to remove the ticket from your record, in which case your premiums would not go up.