How much does insurance go up with 6 points?

Answer 1

It is not possible to directly answer the question without some discussion of how the cost of insurance works.

Most states regulate automobile and other types of insurance. One of the aspects of regulation is "rates". A rate is a price per unit of insurance. This is usually expressed in terms of a rate per $1000 of coverage, which translates into the premium charged to the consumer.

The insurance regulator requires that the insurer charge a "sufficient" rate. This means that the insurer charges enough to cover expected losses and its business operating expenses, including a reasonable profit. The reason is that the insurer has to have an incentive to remain in business, and to have enough money on an ongoing basis to pay claims as they arise.

The regulator also requires that the insurer charge a rate that is not excessive. This means that neither the insurer's overhead, profits, nor other factors that go into calculating the rate are unreasonable. "Unreasonable" is determined by the regulator, although negotiations often go on between the insurer and the regulator before an acceptable rate is agreed upon.

Finally, a rate must not be "unfairly discriminatory". This means that the rate charged must be the same to all who fall into stated risk categories, such as make and model of vehicle, number of miles driven, age, and driving history.

All of that said, the fact that there are 6 points on your license may result in a rate increase depending upon the schedule of rates that the insurer and the regulator have agreed upon. Without knowing more than you have stated in your question, such as where you live, the identity of the insurer, and the other factors mentioned above, it cannot be said who much, if at all, the rate, and thereby the premium, may increase.