No one is against your drinking, but do you understand the legal implications of drinking senselessly then taking off and driving yourself home?
By drinking and driving while intoxicated, you put your own life in danger, the lives of pedestrians, other motorists, and homes in danger. This, therefore, means that DWIs come with serious legal and financial implications, which you will wake up to at the police station.
Some of the financial and historical implications of a DWI on your insurance include:
1. Expensive auto-insurance
The DWI is slapped on your history and your insurance company will know about it. This privy information will put you in the high-risk driver risk under auto-insurance, making your insurance more expensive.
Paying higher monthly or annual premiums will be prescribed by your insurance company. If you are on a tight budget and you are unable to repay your insurance, then your policy may be canceled. You know how difficult it will be to land a new policy from a different firm, right?
2. Tainted history
One instance of drinking while intoxicated can tarnish your otherwise perfect driving record. Besides the higher legal representation fees, resultant high fines, and having your license suspended, you run the risk of having this information on your record forever. Insurance companies always check this information when renewing or filling in new license information and this can affect your chances of getting the best or the most affordable insurance premiums.
3. Spill-over effect on your family
Your family goes through emotional, psychological, and financial burden in terms of insurance if you are charged and convicted with a DWI. If your family members are listed as persons allowed to drive your car, you will have a higher interest and premium rate to your account and this affects their finances as well.
4. Filing a certificate of insurance
This is a vehicle liability insurance document that you have to file to the DMV (Department of Motor Vehicles) offices for the ‘high-risk’ insurance policies. This document is also called the SR-22 or a financial responsibility filing resulting from the suspension of your driver’s license. You will have to file a SE-22 and a DPS and maintain coverage for the same in the next two years after you are convicted.
For the DMV to lift your suspension, you’ll have to fill these documents that prove your financial responsibility. The forms also prove that you are properly insured during the time.
Unfortunately, filing the SR-22 puts you at risk of having to pay high insurance premiums and this will not be a temporary thing. Some people pay these high rates for decades after the conviction.
5. Denial of coverage
Most automobile insurance covers will include reckless conduct, negligence, or gross negligence but intentional conduct. If you are found guilty after a DWI arrest for intentionally causing the accident, chances are, you will not be covered by your current company. Landing insurance from other companies will also be tougher.
In conclusion, driving while intoxicated affects your insurance by adding more financial responsibilities. Understandably, the economic times are tougher and you shouldn’t drive when intoxicated. You do not want a record of the same or loss of lives, therefore, get a cab or let someone else drive you home.