Emma Speckman

Last Updated: November 6, 2018

Have you been convicted of driving under the influence of drugs or alcohol? If so, you may need to apply for an SR22 certificate. An SR22 acts as proof of insurance and confirms that you are financially responsible and can keep up with your insurance payments. It’s often referred to as simply “SR22 insurance.” You will need to keep this certificate for a specified period of time following your conviction – typically three years.

Read on to learn the answers to four FAQs about SR22 car insurance after a DUI or DWI:

1. How Do You Know If You’re Required to Apply for SR22 Car Insurance?

Not everyone convicted of a DUI or DWI will have to apply for an SR22. The requirements vary by state, but you may need to get an SR22 certificate if you were caught:

• Driving under the influence of drugs or alcohol;
• Driving while uninsured;
• Having too many points on your driving record; or
• Causing injury to someone in a car accident.

SR22 insurance is typically required for drivers who have had their licenses suspended following a conviction for one of the above crimes.

If your driver’s license was suspended, contact your insurance company to find out if an SR22 certificate is required.

2. Will Your Insurance Rates Change?

After you file for an SR22 certificate, your insurance company will likely deem you a “high-risk” driver. If this happens, your insurance rates will most likely increase. The actual cost of SR22 insurance varies by state and insurance company.

It’s also possible that your payment schedule will change after you file for an SR22. Because SR22 insurance exists to prove to insurers and the government that you are financially stable and will remain so in the future, you may have to pay upfront instead of in monthly installments.

If you are worried that your insurance rates will go up after a DUI conviction, click HERE to view the results of our quote comparison study. We evaluated insurance rates from multiple carriers in each state to find the cheapest insurance rates for drivers with a DUI or DWI conviction.

3. When Do You Need to File for SR22 Insurance?

If you have been charged with a DUI or DWI and you know you are required to file for SR22 insurance, the first thing you should do is call your insurance company to inform them that you will be filing for this certificate. If your insurance does not cover high-risk drivers in general, you may have to shop around for a new provider. If your insurance company will still cover you, you will need to ask your agent to file for SR22 insurance for you. This is not something you can file for alone; it must come straight from an insurance company. 

4. How Long Will You Need to Have SR22 Insurance?

Again, the requirement varies by state, but SR22 insurance is usually required for at least three years. If you are convicted of another traffic violation during that time, you will most likely have to maintain an SR22 for a longer period.

Did we miss any important points about SR22 insurance? Feel free to share your insights in a Comment below.

Emma Speckman

Last Updated: November 6, 2018

Do you have a classic or antique car parked in your garage? Even if you rarely drive it, you should still purchase insurance coverage to protect your investment. Read on to learn five facts every classic car collector should know about auto insurance:

1. Coverage for Classic Cars Is Usually Cheaper

Although more expensive cars tend to have higher insurance costs, this isn’t necessarily the case for classic car collectors. Most collectors do not drive their vehicles very often, which means they have a low annual mileage. Classic car collectors also tend to take care of their vehicles, which further reduces the likelihood of filing a claim. These factors translate into lower insurance premiums.

If your classic car is in good condition and your annual mileage is low, your insurance may be surprisingly cheap.

2. Classic Cars Used for Racing Tend to Have Higher Insurance Rates

Although classic cars usually have lower insurance rates, vehicles used for racing are an exception. Insurance companies view racing as a high-risk behavior, which translates into more expensive premiums.

3. Most Insurance Claims on Classic Cars Aren’t for Collisions

In fact, most insurance claims on classic cars relate to incidents that occur on the owner’s property. If you store your vehicle in a garage with other heavy items, it could become damaged if something falls on it. This is especially worth considering if you live in an earthquake-prone state such as California, Washington, or Alaska.

4. There Are Strict Qualifications to Be Eligible for Classic Car Insurance Coverage

To be eligible for this type of insurance, your car must be considered a classic or antique. Your vehicle may qualify if it is:

• Between 10 and 25 years old (for classic cars) or older than 25 years old (for antiques);
• In good condition; and
• Rare.

Your insurance company may also require that you have very low annual mileage and that you store the vehicle in a safe facility. You may be denied classic car insurance if you have a poor driving record.

5. It’s Important to Shop Around for the Best Rates for Your Classic Car Insurance

Many of the top insurance providers offer classic car insurance, as do many smaller companies. Smaller insurers typically advertise at car shows and through word of mouth. Larger insurers usually offer online rate comparison reports. Before you commit to an insurance company for your classic car, be sure to compare several carriers to find the best deal.

You shouldn’t have to break the bank to afford insurance for a vehicle you rarely drive. If you have a decent driving record, low annual mileage, and an insurance provider that offers specialty rates for classic and antique cars, you can expect to pay less for classic car insurance than for insuring a standard vehicle.

Were there any important points that we missed? Feel free to add them in the Comment section below.

Emma Speckman

Last Updated: November 6, 2018

You’ve probably seen TV commercials from insurance companies advertising “accident forgiveness.” Your agent may have even called you to ask if you want to add this policy upgrade. Accident forgiveness policies are certainly advantageous and could save you a small fortune if you are involved in a qualifying collision. However, it is important that you know the limitations of these policies.

If you’re looking for affordable accident forgiveness insurance, click here to view the results of our quote comparison study. Read on to learn the answers to five FAQs about accident forgiveness coverage:

1. Does Every Car Insurance Company Offer Accident Forgiveness Insurance?

No. Insurance companies are not required to offer accident forgiveness insurance, but most of the nation’s largest carriers do offer some form of it. Contact your insurance company to find out if accident forgiveness is an option under your current plan.

Most large insurance companies offer accident forgiveness, but the cost and terms can vary.

2. Do You Qualify for Accident Forgiveness Insurance Automatically?

No. If you have several car accidents, speeding tickets, or other moving violations on your record, your insurance company may decide not to offer you accident forgiveness. However, if your driving record remains clear for a year or more, you may be able to reapply for accident forgiveness, depending on your company’s policies.

Eligibility may also depend on how long you have had insurance through your current provider. Most insurance companies prefer to reward loyal customers with perks like accident forgiveness.

3. How Much Does Accident Forgiveness Insurance Cost?

The cost of accident forgiveness insurance varies from one company to the next. Some providers include accident forgiveness in standard plans while others tack it on as an additional purchase. Some providers charge a percentage of your premium for accident forgiveness whereas others add it on with a flat fee.

Most providers don’t charge more than an additional $100 per year for this coverage. Some insurance companies offer discounts to policyholders who have clean driving records or who have been loyal customers.

4. How Do Different Accident Forgiveness Insurance Programs Compare?

Just as the cost of accident forgiveness varies from one carrier to the next, so too do the specific terms of the policy. Depending on the language of your policy, some types of collisions may not qualify. And your insurance company may still drop you if you are involved in a collision, even if you have accident forgiveness coverage.

5. Who Qualifies for Accident Forgiveness Insurance?

The most important qualifier for accident forgiveness insurance is your driving record. If you’ve maintained a clean record for several consecutive years, you should qualify for accident forgiveness; however, if you’ve been in an accident within the past year, you probably will not qualify and will have to reapply next year.

Applying for accident forgiveness insurance can give you peace of mind, especially if you have young or teen drivers on your plan. If you have any insights to add about this policy upgrade, feel free to share them in a comment below.

Emma Speckman

Last Updated: November 6, 2018

Did your teenager recently become a licensed driver? If you plan to add your child to your car insurance policy, it’s important that you know how this will affect your insurance rates.

If you need help finding cheap car insurance for teens and young drivers, click here to view the results of our quote comparison study. Read on to learn the answers to seven FAQs about car insurance for teens:

1. How Expensive Is Car Insurance for Teenage Drivers?

It should come as no surprise that car insurance is more expensive for young drivers. This is mostly because inexperienced motorists are statistically more likely to be involved in accidents. In general, you can expect your car insurance to increase by about 150 percent if you add a teenage driver to your plan.

Car insurance rates increase by about 150% when parents add teens to their policy.

2. Why Is Car Insurance for Teens So Expensive?

Teen drivers are considered risker than adult drivers for several reasons. First, they’re inexperienced, so they’re more likely to make mistakes that lead to accidents. They’re also less capable of identifying dangerous situations when behind the wheel, which reduces their ability to avoid hazards. Teenagers – especially male teenagers – are also more likely than the average driver to get into a fatal car crash.

3. How Do You Add Your Teenage Driver to Your Insurance Policy?

When your teenager gets his or her license, the first thing you need to do is call your insurance company. An agent will let you know how much more you can expect to pay per month, and you can determine if you need to switch to a new provider.

Many insurance companies will allow you to add your teen to your policy when he or she has a learner’s permit without increasing your premium. Once your child transitions to a full license, though, your rates will most likely increase. Ask your insurance provider if this is an option they offer.

4. What Will Happen to Your Insurance Rate If Your Teen Gets a Speeding Ticket?

If your teen gets a speeding ticket, your insurance rate will probably go up. However, many states offer safe driving programs designed to improve a teen’s skills behind the wheel. Participating in such a program may help you avoid premium hikes. Talk to your insurance company or your state’s DMV about this option.

5. What Will Happen to Your Insurance Rate If Your Teen Gets in an Accident?

Insurance companies treat accidents more seriously than speeding tickets and other moving violations. If your teenager was involved in a collision, your rate will almost certainly increase unless you have accident forgiveness insurance. Your insurance provider could even choose to cancel your insurance or your teenager’s insurance.

6. Can Teenage Drivers Have Their Own Car Insurance?

It is entirely possible to insure a teenage driver separately from the other drivers in your household; however, if your children are under 18 years old, you are still legally responsible for them and will be liable if they injure somebody in an accident. Contact your insurance company to discuss the pros and cons of insuring your teenage driver separately.

7. Are There Discounts Available for Teenage Drivers?

Many auto insurance providers offer special discounts for teen drivers. Your child could be eligible for a discount by maintaining good grades, agreeing to have their driving monitored electronically, or taking a safe-driving course.

Emma Speckman

Last Updated: November 6, 2018

You may be familiar with the perks of owning an electric car. Besides reducing your carbon footprint, electric cars can save you hundreds or even thousands of dollars in gas. But there’s an added cost of owning an electric car that most drivers don’t consider before making the purchase; auto insurance for electric cars tends to cost more.

In this blog, we’ll explore a few reasons why car insurance is more expensive for electric cars and how you may be able to find cheaper insurance if you intend to purchase one. You can learn more about the factors that affect your car insurance rates HERE.

Electric Cars Are More Expensive Than Gas Cars

One of the simplest reasons insurance for electric cars is typically more expensive than for gas cars is because electric vehicles have a higher price tag. Car insurance rates tend to rise with the cost of the vehicle since the cost of repairs and replacement go up. What’s more, the battery systems that power electric cars are complex and expensive to repair.

The high cost of repairs and replacement translate into more expensive insurance for electric cars.

How Much More Can You Expect to Pay for Electric Car Insurance?

The answer to this question largely depends on your location and insurance company. Car insurance for electric vehicles tends to cost around 20 percent more than insurance for the gas version of the same vehicle. For electric-only car models, there is no direct comparison to gas vehicles, but insurance still tends to be relatively high compared to gas-powered cars.

What About Hybrid Cars?

Interestingly, hybrid cars tend to have lower insurance rates than both gas and electric cars. Many of the nation’s largest insurance companies offer discounts to drivers with hybrid vehicles. In general, drivers with hybrids commute fewer miles overall than drivers with traditional cars do.

Insurance Discounts for Electric Cars

Although insurance is generally more expensive for electric cars, some insurance providers now offer discounts to electric car owners to incentivize them to switch insurers. Also, research shows that electric car drivers tend to file fewer claims than gas car drivers.

You can learn about other car insurance discounts HERE.

The Auto Insurance Marketplace Is Changing with the Times

One of the primary reasons why insurance tends to be more expensive for electric cars is because the technology is so new. Insurance providers don’t have much data to use when calculating their rates, which forces them to be cautious and charge more. In the coming years, the cost of electric cars will likely reduce as the technology evolves, which should translate into lower auto insurance premiums.

Are Electric Cars Worth It?

With the higher upfront cost and hike in car insurance rates, it’s easy to assume that buying an electric vehicle is simply not worth the expense. But if you find an insurer who offers discounts to drivers with green vehicles, you may find that the long-term savings far outweigh the upfront cost of switching from gas to electric.