How A DWI Can Impact Your Auto Insurance Rates
A DWI conviction doesn’t just bring legal trouble, it can also have a long-lasting financial impact. This is especially true when it comes to auto insurance rates.
Many drivers don’t realize just how much a single DWI can cost them in the long run. From skyrocketing premiums to SR-22 requirements, a DWI can put a major strain on your budget. Have a conversation with a Houston DWI lawyer to learn about the financial consequences following an arrest and how to minimize the damage.
High-Risk Vehicle Operators and SR-22 Requirements
When you’re convicted of a DWI in Texas, insurance companies see you as a high-risk driver, which means they’ll charge you significantly more for coverage. The increase can vary depending on the insurance company, but in Texas, drivers with a DWI can expect their rates to go up by 50% or more. Some companies may even refuse to renew your policy, forcing you to seek coverage from high-risk insurers at an even greater cost.
Plus, after a DWI conviction, Texas law requires many drivers to obtain an SR-22 certificate. This isn’t insurance but a form that proves you carry the state’s required minimum auto insurance coverage. The Texas Department of Public Safety (DPS) mandates SR-22s for drivers with DWIs, multiple traffic violations, or suspended licenses.
Here’s what you should know about SR-22 requirements:
- You must maintain SR-22 coverage for at least two years after a DWI conviction.
- Not all insurance companies offer SR-22s, so you may have to switch to a high-risk provider.
- Failing to maintain SR-22 coverage can result in license suspension and additional penalties.
Being informed of requirements can assist in making good decisions moving forward.
Avoiding Insurance Rates That Burst Your Budget
While a DWI will undoubtedly impact your insurance, there are ways to minimize the financial damage. For one, you can shop around. Different companies have different pricing for high-risk drivers. Get quotes from multiple insurers to find the best rate.
Improving your driving record is also helpful. Avoiding further infractions and maintaining a clean record can help reduce rates over time. Part of this could involve taking a defensive driving course. Some insurers offer discounts if you complete an approved defensive driving or alcohol awareness course.
You may also be able to increase your deductible. Opting for a higher deductible can lower your monthly premium, though it means paying more out-of-pocket if you file a claim. In some situations, looking into non-owner SR-22 insurance is also an option.
One of the best ways to protect your finances is to fight the DWI charge in the first place. A skilled Houston DWI lawyer may be able to get charges reduced or dismissed, preventing the long-term financial burden of a conviction. If you’ve been charged with a DWI, securing legal representation quickly could be the step that will save you from devastating consequences.
Are you worried about your insurance premiums? Contact the seasoned attorneys at Ayson Law Firm to explore your options and safeguard your future. Contact us today.
