How long do accidents and tickets stay on my record is a questions we get often here at Walker-Winter Insurance. It really depends on your carrier, but here are some standards or norms.
How long do accidents and tickets stay on my record?
For most carriers it can be anywhere from three to five years. Depending on the carrier, they can stay on three years, some will stay on five, some even split that up to where tickets are only on for three and accidents are on for five. You can check with your agent to find out what your insurance provider uses as their standard.
Why is it important?
It’s an important factor when you’re thinking about should I turn in this claim. What could be the impact to my rates for the next three to five years. Do the math on whether you think it’s worth turning in some of the smaller claims you may have, especially on the accidents or at-fault accidents under your collision deductible. Collision claims will have the biggest impact on your rate. For example, if you have a small claim that is let’s say $600 to repair and your deductible is $500. You are already going to have to pay $500 so will an increase in your policy result in more out of your pocket than the additional $100 you would have to pay out of pocket. Possibly you would pay more than $100 in increased premiums over the next 3-5 years for turning in that claim. You probably just want to take care of this one on your own. On the other hand if you have an estimate on a claim that is $5000 and your deductible is $500 you probably want to turn that one into your insurance because your increased premium will not be $4500 over the next 3-5 years.
Your agent is always there to guide you through the process and help you with these decisions, but at the end of the day you have to do what is best for you and your family.