Depends on your insurance. The violation, 22348(c), results in a point on your driving record (at least in California) if you do not take traffic school (or otherwise contest the ticket). And most often, your insurance will increase when points go on your record.
Unless the offense occurred prior to your 18th birthday, criminal records are a permanent party of your history. They are not like drivers license points and do not 'go away' after a certain length of time.