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How an Oklahoma DUI affects auto insurance rates

On Behalf of | Sep 25, 2023 | Firm News |

An Oklahoma conviction for driving under the influence has far-reaching consequences, affecting many important aspects of your life. A spike in auto insurance rates is among them and almost always follows such a conviction.

How much of an increase you will see depends on certain variables, such as the details of your DUI arrest and the status of your driving history leading up to it. However, insurance companies view individuals with DUIs as high-risk drivers, and, as a result, they increase premiums to mitigate potential future claims.

The SR-22 requirement

In Oklahoma, a DUI conviction may trigger an SR-22 requirement. An SR-22 is a certificate of financial responsibility that proves you have the minimum required insurance coverage. To obtain an SR-22, you must contact your insurer, who will then file the certificate with the Oklahoma Department of Public Safety. This additional requirement can further elevate your insurance costs.

The long-term effects

The impact of a DUI conviction on your auto insurance rates is not short-lived. Typically, DUI convictions remain on your driving record for several years. During this time, you can expect higher premiums as insurance providers continue to classify you as a high-risk driver. The length of time these convictions affect your rates can vary depending on the insurer.

The financial strain

The financial implications of increased auto insurance rates after a DUI conviction can be burdensome. With higher premiums, you may find it challenging to maintain your current level of coverage. In some cases, individuals may need to downgrade their insurance to a more affordable option, potentially leaving them with less protection in case of an accident. Typically, an Oklahoma driver with a pretty standard driving record will see his or her insurance premiums increase by about 44% or $643 per year.

Because different insurers rely on different methods when deciding what to charge you, it may serve you well to get quotes from several of them before deciding which one to have cover you.