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How Your Driving Record Impacts Your Insurance Rate
In most states, the motor vehicles department has a "point" system, which is used to track your driving record. Generally, each type
of infraction (moving violations, parking tickets, at-fault accidents, driving under the influence, etc.) is assigned a certain point value.
When you are found guilty of one of these infractions, the appropriate number of points is added to your driving record. The more
points you have, the worse your record.
In most states, the motor vehicles department has a "point" system, which is used to track your driving record. Generally, each type
of infraction (moving violations, parking tickets, at-fault accidents, driving under the influence, etc.) is assigned a certain point value.
When you are found guilty of one of these infractions, the appropriate number of points is added to your driving record. The more
points you have, the worse your record.
Typically, an auto insurance company has the right to review the driving record of anyone who
applies for an auto insurance policy from that company.
The purpose of this initial review is two-fold:
To determine whether you meet the insurer's standards of insurability (i.e., whether you will be
issued a policy at all)
To evaluate your risk potential (i.e., how much your insurance will cost).
However, each insurance company has its own method of evaluating applicants, so the points on
your driving record may or may not have a direct impact on the rates you pay for auto insurance.
may be quite low. There are, however, certain times when you can be relatively sure an insurance
may be quite low. There are, however, certain times when you can be relatively sure an insurance
company will be checking your record.
company will be checking your record.
These include:
When you initially apply for coverage
When you request a change to your policy (increased coverage amounts, etc.)
When you add a vehicle to your policy, or change the covered vehicle
When your policy comes up for renewal
If a review of your driving record uncovers negative information, there's a chance your insurance
rates will increase. Insurers typically use their own "point" system to determine the amount of the
increase (if any). Although these systems can vary, most insurers use a system based on the Safe
Driver Insurance Plan, which is issued by the Insurance Services Office (ISO).
The Safe Driver Insurance Plan lists different types of auto accidents and moving violations, and
assigns a "point" value (from 0 to 4) to each type based on the severity of the incident. Under the
Plan, as you accumulate points, you are assessed surcharges that generally result in higher
insurance rates. The number of points charged determines a premium increase.
Suggested Reading:
Three Life Events That Can Greatly Affect Your Auto Insurance Rate
Does Your Occupation Affect Your Auto Insurance Rate?
How Your Driving Record Impacts Your Insurance Rate
8 Things You Should Know About Auto Insurance
Car Insurance For Young Adults
applies for an auto insurance policy from that company.
The purpose of this initial review is two-fold:
To determine whether you meet the insurer's standards of insurability (i.e., whether you will be
issued a policy at all)
To evaluate your risk potential (i.e., how much your insurance will cost).
However, each insurance company has its own method of evaluating applicants, so the points on
your driving record may or may not have a direct impact on the rates you pay for auto insurance.
may be quite low. There are, however, certain times when you can be relatively sure an insurance
may be quite low. There are, however, certain times when you can be relatively sure an insurance
company will be checking your record.
company will be checking your record.
These include:
When you initially apply for coverage
When you request a change to your policy (increased coverage amounts, etc.)
When you add a vehicle to your policy, or change the covered vehicle
When your policy comes up for renewal
If a review of your driving record uncovers negative information, there's a chance your insurance
rates will increase. Insurers typically use their own "point" system to determine the amount of the
increase (if any). Although these systems can vary, most insurers use a system based on the Safe
Driver Insurance Plan, which is issued by the Insurance Services Office (ISO).
The Safe Driver Insurance Plan lists different types of auto accidents and moving violations, and
assigns a "point" value (from 0 to 4) to each type based on the severity of the incident. Under the
Plan, as you accumulate points, you are assessed surcharges that generally result in higher
insurance rates. The number of points charged determines a premium increase.
Suggested Reading:
Three Life Events That Can Greatly Affect Your Auto Insurance Rate
Does Your Occupation Affect Your Auto Insurance Rate?
How Your Driving Record Impacts Your Insurance Rate
8 Things You Should Know About Auto Insurance
Car Insurance For Young Adults
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