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Showing posts from September, 2011

Impact Of Traffic Tickets on Insurance

Many drivers think that the most expensive part of a traffic ticket is the financial result only, and while this can be painfully expensive in some legal jurisdictions, it is nevertheless not the most concerning part. The most expensive part becomes known after the ticket, and becomes a concern for three to five years: signifficant increase on your insurance premiums! Insurance is "risk management;" it manages your risk of catastrophic damage to your vehicle, your person, or other persons or vehicles involved in any kind of accident. Insurance companies are in the "risk management" business: for the cost of your premiums, they'll cover you in the event you damage something or someone. But chances of you claiming compensation determines how much they charge you. To figure out your premium, they look primarily at your driving record. Therefore it is in your financial interests to maintain your driving record spotless. But many motorists get stopped by police at