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The increased cost from a Driving under the influence conviction varies between car insurance policies. The key causes for the range in costs are: Penalties (points) placed to policies impacts rates in different levels. Insurance policy coverage requirements for DUI motorists are determined by state law. Companies which non-renew policies after a Drunk driving charge jeopardize renewal reductions. Other factors encountered rely on the insurer and state the Driving under the influence car insurance policy is issued in.
The number of points given to a Drunk driving conviction and their incremental rate increase depends on the underwriting rules and guidelines of each company. Regularly though this kind of conviction is severe and leads to the highest risk category. Companies who have no “appetite” for high-risk drivers charge astronomical rates in this group.
In the Sunshine State a convicted driver must buy 100/300/50 liability, in Virginia 25/50/25, and in other states 10/20/10 making for a wide variety. A few motorists have high liability limits before a conviction. The 100/300/50 coverage represents a big raise to a motorist having the minimum limits in Florida.
Typically, a Driving under the influence conviction will not result in a non-renewal, nevertheless, the accumulated affect from already present points usually does. Some agencies will merely extend a prior insurance discount when a renewal offer has been extended. Various other varying underwriting suggestions and rating tiers impact the cost of a policy to one degree or another.
Along with coverage amounts there are several requirements from each state for the DUI insurance policy. In Florida the new Fr-44 form for DUI motorists separates the needs from the more commonly used Sr22 form for all types of infractions. The Fr-44 form, also used in Virginia, has more guidelines and limitations that ultimately increase the price of a DUI car insurance policy.
How much car insurance will rise with a DUI is dependant on how well a policyholder in this scenario shops around. Knowing the factors for the differences can help build a strategy to reduce the impact of a rate raise. Luckily many companies do not discourage DUI applicants and remain competitive for these polices.