Triple Trouble: Understanding the Consequences of an Auto Accident DUI on Your Insurance
Dealing with the consequences of an accident due to DUI can be a triple trouble in all sense. Not only for the law but also for your car insurance. An accident resulting from DUI can have severe repercussions on your insurance policy. It is extremely important to understand the repercussions of such an accident and the changes it can bring to your car insurance and it is beneficial to educate yourself on how it can affect your finances and insurance.
The first and foremost step is to contact your insurance provider and let them know about the accident. They will need to assess the situation and decide if you are eligible for coverage. If the police has reported the DUI, your insurance provider may require additional information and proof of your claim before they can offer coverage. A valid drivers license and a valid registration are must for purchase of car insurance, however DUI offenses can cause certain changes to these criteria.
In such circumstances, your insurance premiums are likely to increase drastically because insurers will consider you as a high-risk driver. Having a DUI on your picture can make it difficult to get a car insurance policy and in certain cases, you might find it impossible to get renewal of your policy. This can greatly affect your long-term finances since your insurance premiums are likely to remain high until the end of your policy term.
Additionally, you will be required to report any accidents due to DUI to your insurance provider. If you fail to do so, you might be held liable for the breach of contract which might result in cancellation of your policy. Any such situation can also end up damaging your credit score. It is important to understand the consequences and fines that come with the DUI accident.
Getting ready to pay higher premiums and suffering from the risks associated with the DUI delay you from considering the policy with any new provider. Lack of competition can result in higher premiums and less coverage. Also, depending on how serious the DUI offense is, some providers may not even be willing to offer you a policy.
Apart from the financial implications, a DUI related accident can give a severe dent to your driving record as well as social reputation. According to the law, if you are convicted for a DUI, you might end up losing your driver’s license and that may have to go for a period of six months or more. Not only that, you may have to attend educational classes or seminars in order to regain your license.
It is essential to know that the consequences of DUI-related accidents don’t just affect your wallet or financials but can also affect your behavior. Driving while impaired is not only against the law but an extremely dangerous activity. It is important to realize the potential impact of such actions and take necessary precautions to prevent them in the future.