Will Teen Driver Speeding Ticket Increase Parent Insurance Rate
Reader’s Question:
My teenager son just had his first traffic ticket. And I fear that it will affect the rate of my insurance policy in Manchester, NH since he is under my name. Is it going to cause my insurance to go up?
Rey
Manchester, NH
Yes. No matter which side of the coin you look at, having a traffic violation always means one thing – negative impact to the insured driver.
When my teenage daughter had her second speeding ticket, I was shocked on the increase in my car insurance policy. My rate increased from 50% – 150%. When she got her first speeding ticket, we used the deferment program for the first time and just paid the ticket. With this, given that my daughter does not get her second speeding ticket within the year, her traffic violation will be removed from her record, so my insurance company will never know about this. But unfortunately, she does it again within the same year. So my car insurance charged me with higher rate, more than I could imagine.
But you should know that such increase does not apply if your son was caught driving going 20 miles or more than the speed limit. Brace yourself, because you’re just up to paying even higher premium to your auto insurance.
It’s always important to remember that having a clean driving record is a significant factor on keeping our premium low. Teenagers should know the value of being a responsible driver. After that incident, I demanded that my daughter pay her share in our auto insurance. Since then, gone are the speeding tickets.
How Do I Save Money On My Current Auto Insurance Policy?
Reader question:
How do I save on the car insurance that I already have?
Luke
Great question.
Let me keep this simple and quick. There are so many ways to save on car insurance that you wouldn’t believe, but the easiest ways are the following three.
- Jack up your deductible. Getting a low deductible brings higher car insurance premiums, and considering that you will rarely use that deductible, it just doesn’t make sense to be paying so much over time to pay a smaller price one time. Instead, keep out of your car insurance claims office when it comes to fender benders and save it for the serious stuff. Raise your deductible and make sure you have money set aside to pay for it should you ever have to make a claim.
- Get rid of what you don’t need. A lot of people end up paying too much on their car insurance premium because they have coverage that just isn’t necessary. You can save a lot of money by going down to just the state minimum on your car insurance and getting rid of things like collision and comprehensive. As a warning, though, only do this if your car isn’t big on value. If you have a car that is worth a lot, stick with the bigger amount of coverage.
- Discounts! There is a plethora of discounts out there from everything ranging from your report card to your air bags, and depending on the company, in some cases you could save more than three fourths the amount of your premium. It’s worth looking into if you have the qualities typical of a responsible driver, considering that you could save so much.
- Shop around. You could get a much cheaper price than you have right now just by getting a free online auto insurance quote and comparing the quotes from different companies to see who is best in price with the most value.
Cheers,
Fashun Guadarrama.
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