It’s not until the state pulls your driving license that you realize the severity of breaking traffic laws. Having ten unpaid parking tickets or more than three moving violations will have your license suspended. One of the critical steps to lifting a suspended license entails providing proof of insurance.
Filling an sr22 in Chicago will set you back between $15 and $25. That might seem cheap, but that cost doesn’t paint the full picture.
You’re a marked driver
More than 30,000 people die in fatal road crashes each year, and the federal government is keen on lowering these figures. Most of these accidents occur because the drivers were intoxicated, speeding, or distracted.
That means most car crashes are avoidable if the drivers are a bit more careful while on the roads. As a deterrent measure, all states impose steep fines on motorists who violate traffic laws and endanger lives. Suspending the licenses of repeat traffic offenders has proven to be an effective measure.
The state will make you jump through a series of hoops that will leave a lasting impact on your life. Once you’re convicted of driving offense that leads to the suspension of your license; you join the class of high-risk drivers.
That mark stays on your record for up to five years depending on the severity of the offense. Unfortunately for you, the tag comes at a tremendous financial cost.
You have soaring insurance premiums
A suspended license increases the cost of your insurance coverage by at least 28 percent but can go as high as 86 percent. That might seem like overkill, but there’s a logical reason behind it. As a high-risk driver, you’re more likely to get into a road accident than the regular drivers.
That means you’re likely to make more insurance claims than the drivers who are more cautious on the road. Insurance companies will adjust the cost of such drivers upwards to cushion the added risk they pose. Some insurers choose not to insure such drivers, forcing you to look for new service providers.
Given that the high-risk driver tag sticks with you for 3-5 years, traffic infractions tend to be quite expensive. As such, it might be tempting to skip on payments to save on costs. However, the state requires you to file an sr22 certificate as proof that you have valid coverage.
It lowers quality of life
The bludgeoning car running costs are likely to leave you in a precarious financial situation. You might be forced to prioritize the insurance payments over other bills to preserve your driving privileges. On a limited income, that might entail taking radical measures to come up with the cash.
In other cases, it might lead you to incur additional debts to accommodate the additional costs. Taking on additional debt could have long-term implications on your finances such as lowering your credit score. A low score could ruin your chances of qualifying for a mortgage when looking to buy a home.
Getting your driving privileges pulled by the state leaves you in a vulnerable financial state. You will be saddled with high insurance costs that can leave you in a financial black hole. Unfortunately, there’s no escaping these costs as the state needs proof of insurance to reinstate your license.