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dui impacts car insurance

How Will Getting a DUI Impact My Auto insurance?

Once you’ve been convicted of driving under the influence, you’ll be hit with a cascade of consequences. The loss of your license, massive fines, and even jail time are just the beginning. The fact is a DUI can affect every area of your life in some way. You may even notice a sudden negative change in your monthly budget, thanks to a jump in your auto insurance rate.

Find out how a DUI will affect your car insurance rate and what you can do about it. If you’ve been arrested for driving under the influence, you still have options—call Holcomb & Russell at 228-206-5843 to schedule a consultation with our team.

Do You Pose a Risk to the Insurance Company?

When calculating insurance rates, companies look at how likely you are to cause an accident. If you cause an accident, they’ll likely need to pay out a settlement to the other driver—and the worse the accident is, the more money they will have to spend to avoid a lawsuit.

As a driver with a DUI conviction, you pose a massive threat to the insurance company. At your current rate of insurance, they are likely still making a profit off of you. But once you have a DUI, your chances of causing an accident rise significantly. Just one crash caused by you would wipe out everything you’ve ever paid for insurance.

How do they make up for that increased risk? They raise your rates—and they raise them a lot.

Staying With Your Insurance Company

Insurance company quotes paint a depressing picture of costs before and after a DUI. Per MoneyGeek, insurance rates jump an average of 76% in Mississippi after a DUI. That’s assuming, of course, that you are able to stay with your current insurance company. However, there is nothing that requires your insurance provider to keep you on as a client after a DUI.

Some insurance companies do not deal at all with high-risk clients—they simply drop you after a DUI conviction. That adds yet another item to your to-do list.

Estimates vary across experts. Another source states that insurance rates in Mississippi increase an average of 66% after a DUI. This adds up to over $1,100 extra per year. When you’re already facing huge court fees and penalties, that type of monthly increase in your budget can be devastating.

Finding New Insurance

You may very well have to find an entirely new insurance company after a DUI. A limited amount of companies provide high-risk coverage, due to the greater cost associated with offering this type of coverage. In Mississippi, your insurance must have an SR-22 form after a DUI, and that ramps up your costs significantly.

Insurance companies know that your options are limited after a DUI. Even if you shop around, they are well aware that you don’t have tons of companies waiting to offer you a policy. For that reason, you may find that high-risk insurance offers minimal coverage at a much higher price.

Limiting the Damage

How can you prevent high insurance rates from keeping you off of the road entirely? First, don’t assume that a guilty plea is your only option after a DUI arrest. Yes, this does end your case as quickly as possible, but it also sticks you with the worst and most expensive penalties.

Even if fighting for a better outcome takes more time, it’s still worth the effort and time. With the help of a skilled DUI defense attorney, you can pursue decreased or dismissed charges, reduce your risk of jail time, and fight for a second chance.

Time is of the essence. The sooner you hire a DUI attorney, the more time they have to investigate your arrest and explore your defense options.

Set Up Your Consultation with Holcomb & Russell Now

Don’t let a DUI derail your life, dreams, and future. Fight for a better future now by contacting the team at Holcomb & Russell. There are many ways to defend against DUI charges, and we’re ready to find the best option for you. Call us at 228-206-5843 or send us a message online to talk to our team now.

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