Getting pulled over and arrested for drunk driving can be an embarrassing and time-consuming experience. You could spend a night in jail, and the authorities might suspend your license. Your troubles do not stop there. A DUI record can have significant financial repercussions, especially regarding your insurance. Here’s how.
Increased premiums
Once a DUI is on your record, your insurance company will classify you as a high-risk driver and will likely increase your premiums. In some cases, they may even decide to cancel your policy altogether and force you to get another one from a high-risk insurance provider, where the rates are typically higher.
Certificate of financial responsibility
A DUI conviction in New Hampshire will require you to file an SR-22 form. This certificate of financial responsibility proves that you carry the minimum required auto insurance. The need to file this form can last for years, during which your premiums will remain high. Additionally, since not all insurance providers offer SR-22 coverage, you may need to find a new provider, which could further increase your insurance costs.
Long-term impact
A DUI conviction can remain on your record for three to five years. During this period, your insurance premiums will remain high. Even after this period has passed, some insurance providers may still consider your history of drunk driving and keep your premiums elevated.
Due to the long-term financial repercussions of a DUI conviction, it may be advisable to consider seeking legal counsel. Exploring your options for challenging your conviction may help you mitigate the economic impact of your drunk driving arrest.
