March 13, 2013
Don’t Drink and Drive: How a DUI Can Cost You
Every day, 27 people die from accident related to drunk driving. That’s according to Mothers Against Drunk Driving (MADD), an organization who’s made it its business to rid the world of drunk drivers. The toll a drunk driving accident can have is undeniably life-altering; in a worse-case scenario, someone loses a life. More often, the driver gets charged with a crime and accompanying fines, which can send finances into complete tailspin if you’re not prepared.
If avoiding killing someone or going to jail isn’t enough motivation — and it is — here are some financial considerations that will hopefully deter boozy Bobs and Betty’s from getting behind the wheel.
Insurance Hikes: Insurance premiums jump by 25 percent after a DWI/DUI incident, that’s if you can keep your insurance. Some companies will yank coverage all together after just one drunk driving incident.
Suspended License: If you have a DWI/DUI it can affect license eligibility, which has major impact on getting to and from work. Getting caught driving with a suspended license or without a license can result in major fines as well, and increases insurance premiums by 10 percent on average.
Exorbitant Fees: The real hole in the wallet comes from all of the fees associated with a DUI. Lawyers fees, bail and towing can add up to $10,000 on average for most first time offenses.
Best bet is to get a friend or call a cab. It’s not worth risking life — or a semblance of financial stability.