A driving under the influence charge and conviction can be really tough on all aspects of your life. From your job to your driving status to your freedom, it can have wide-reaching impact. With that said, a DUI also has a substantial impact on your financial situation through your auto insurance. Ignoring this is dangerous, since it is one of the most profound consequences of this crime. Ultimately it all depends upon how your charge is categorized and it depends upon how many you have had. Here is some information on how a DUI will impact your ability to get insurance and your insurance rates going forward.
And don’t fall for the old “What if the term runs out and you can’t get re-insured trick”. Listen, there are a lot of term policies out there that are guaranteed renewable until an old age (75-100). Yes, the price is a lot higher, but you must realize that if you buy a whole life policy, you will have been duped out of even more money by the time you get to that point (if that even happens). This is also yet another reason to be smart with your money. Don’t buy confused policies.
Get good grades: Car Insurance companies think that students in general are prone to drive rashly because they are yet learning to drive. In fact, 61% of young drivers admit to having risky driving habits like not wearing a seat-belt. When it comes to making decisions while driving, they seem to be more prone to be distracted and impulsive. However, if a particular student can show that he is responsible, then the insurance company can offer a discount in his car insurance. One of the best ways to prove that you are a careful driver is by maintaining good grades. Some insurance companies offer the “Good Student Discount” for students that have a GPA above a 3.0.
Your automobile Insurance 2000 SW15 is divided in three major coverages. Liability coverage, the second is your Collision coverage and third is your Comprehensive otherwise known as Fire and Theft.
If you hire subs to haul your overloads, you will need special coverage. It’s called “Hired and Non-owned Auto Liability”. This coverage can be added to your commercial auto policy. Look at your policy. See if you have this coverage. If you get confused, call your broker. They will check your policy and tell you.
Tip. As a general rule, most anyone you allow to use your vehicle temporarily will be covered – unless their license is suspended, revoked, or otherwise invalid.
The state protects you when you buy insurance from an admitted company. Admitted companies are companies that are licensed in the State of California. They contribute money to the California Insurance Guarantee Associate (C.I.G.A.) The State sets aside this money to pay claims in case an admitted company goes broke. Non-admitted companies do not contribute to the C.I.G.A. fund. If a non-admitted company goes broke, there is no guarantee your claim will be paid. However, non-admitted companies are not all bad. The most important thing about a company is their A.M. Best rating, but you should know that you’re asking for trouble if you buy insurance from a non-admitted company with a bad A.M. Best rating.
If you are just starting to research car insurance or if you want to change your insurance provider, it is very important that you do your research. Call as many insurance companies as you can and get the best quotes. Read the fine print and see how much and what aspects of driving are covered. One last thing that younger drivers who own cheap cars end up doing is buying the bare minimum insurance. This is called liability insurance and only covers the other party in case of an accident. Think about this cover only if you have enough cash in the bank to fix your own car.