What Are the Financial Costs of Drinking and Driving?

There are plenty of reasons not to drink and drive, the most important being that it endangers you, your passengers, and other individuals on the roads. In addition to the shame and embarrassment, driving under the influence (also known as a DUI) will also directly impact your personal finances. Here are some of the financial costs of drinking and driving.

There are a litany of costs involved with a DUI, the extent of which depend on the severity of the particular transgression and whether it is your first offense. These include bail, attorney fees, and paying for treatment or educational courses that may be required. You can also expect a severe rise in your auto insurance premiums, which will also hurt your wallet far into the future.

What Are the Financial Repercussions of Driving Drunk?

Driving drunk will hurt your finances in a number of different ways. These include the following:

(1) Legal and court expenses: This can include bail, attorney fees, and any court fines and citations. The extent of these costs will be dependent on the specifics and severity of your transgression.

(2) Probation, monitoring, and traffic school: There could likely be follow-up that you need to conduct if you are busted for drunk driving. There are a number of costs associated with your required testing and learning.

(3) Car fees: If you get handcuffed and hauled off to jail, your car may be towed and impounded, both of which have fees associated with them. Afterwards, you could also need to install an ignition interlock device to test your blood alcohol levels in order to start your car each time you want to start driving.

(4) Reinstating you drivers license: Most states will automatically suspend your driver’s license if you are convicted of a DUI. There will be fees associated with having your driver’s license reinstated.

(5) Increase in insurance premiums: Expect your premiums to increase if you are convicted of drunk driving. This is yet another cost you will need to budget for.

How Is Auto Insurance Impacted by Drunk Driving?

Auto insurance exists to pay for the unfortunate if an accident occurs. There are numerous types of auto insurance, ranging from liability insurance, which is required in almost every state, to gap insurance, which is not. (However, if you are leasing a car, the dealership may require you to pay for gap insurance.)

Auto insurers–like any other company–weigh risks versus rewards when deciding whether or not to offer policy coverage. If you have been convicted of a DUI, this information will become part of your record. Though the length of time it remains on your record varies by state (in some states it never leaves), the presence of this information announces very clearly to prospective insurers that you have been guilty of risky behavior.

Insurance companies will respond accordingly, and your premium payments will increase. This will depend on the state where you live and the insurance company that you work with, but a bump in costs will be on your horizon.

There are certain insurance providers which cater to higher risk individuals, and you may find that there are some options which will allow you to cut-down on some of your ballooning insurance expenses. But increase they will.

Conclusion: Another Reason Not to Drink and Drive

Drinking and driving is a bad idea, plain and simple. It lowers your inhibitions and response times, and makes it much more likely that you will get into an accident.

The safety of you and others on the roads is reason enough to avoid this type of behavior. However, even if no accident occurs, getting pulled over for driving under the influence will have a number of long-term repercussions.

The financial costs of getting busted for drinking and driving are significant. They will accompany you long after the buzz wears off.

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