How a DUI Conviction Can Affect Your Car Insurance Policy
Getting a DUI Can Increase Your Car Insurance Rates or Kill Your Policy
Will Your Car Insurance Rates Increase After A DUI?
Yes. When you are convicted of a DUI, you become a risk to all car insurance companies. If you previously had a "preferred driver" policy (a preferred driver car insurance policy will have much lower insurance premiums than high-risk drivers) your insurance rates could triple. Your rates will increase because your car insurance carrier will consider you a financial risk. If they underwrite a car insurance policy for you, they may lose money if you have a car accident that causes substantial damage.
What Is An SR-22 Certificate?
An SR-22 is called a Proof of Insurance certificate and identifies you as a person who has been convicted of a DUI. Many times, you can file an SR-22 through your car insurance company. However, in some cases, your insurance carrier may not have an SR-22 policy. That is, they don't offer car insurance policies to those who have a DUI on their driving record.
When you file an SR-22 through your car insurance company, your insurance carrier must file it with the DMV (Department of Motor Vehicles). Once your SR-22 is filed at the DMV, any car insurance company will have access to it. When you have an SR-22 on file, car insurance companies will consider you a high-risk driver.
Can Your Car Insurance Policy Be Canceled?
Absolutely. If your car insurance company finds out about your DUI conviction, they can decide to cancel your policy. You will be forced to find another car insurance carrier to insure you, given your high-risk driver status. Your car insurance provider can also decide to simply not renew your policy at the end of its term.
Finding a new car insurance policy after your DUI presents problems, as well. Some insurance companies will insure your car. Others will not as your DUI may imply a greater financial risk to them.
Your car insurance premiums can suffer a significant increase after a DUI conviction. If you get a DUI, you have some time to plan your next steps. Assume that all car insurance carriers will know about your DUI conviction through the SR-22 filing. Though your car insurance rates will increase, you will have time to anticipate the extra insurance expense.
Published by HowToGuru
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- Know About Car Insurance
- Repercussions of a DUI or DWI Conviction
- DUI and Your Car Insurance Rates
- What Factors Contribute to You Car Insurance Premium?
- Finding Auto Insurance Quotes in Oklahoma
- Auto Insurance: Saving to Drive, Driving to Save
- Car Insurance - Know the Details of Your Coverage
- Car insurance rates can skyrocket with a DUI conviction.
- Your car insurance carrier can refuse to renew your policy.
- An SR-22 alerts your car insurance company.
1 Comments
Post a CommentDUI wasn't a big thing twenty or thirty years in the past. As long as you didn't cause an accident or no one was hurt, you will just be given some points on your license, small fine, probably a mandatory DUI Class, and one night to sober up in jail.
Marion Barrett
dui