It pays to be a safe driver. Or perhaps it’s more accurate to say that it’s costly to be a high risk driver.
People cited for things like DUI and reckless driving can find their finances drained by heavy fines, but that’s only where the costs begin. Since your insurance company will regard you as a higher risk, your car insurance premiums can rise over two times higher than the premiums a safe driver would pay, and it takes 3-5 years to clean your record.
The insurance premium penalty for high risk drivers varies widely from state to state, and it varies by type of violation. In some states, a checkered driving history means a big increase in insurance premiums, in other states the jump in premiums is relatively small. Which states and violations are most costly for high risk drivers?
When it comes to Maryland, big things really do come in small packages. In 2011, the Free State charged the tenth most expensive car insurance premiums in the country. That’s despite having little road to cover (17,000 lane miles), one of the lowest rates (315) of traffic-related fatalities (315) and minimum liability insurance limits just slightly higher than the national average. Maryland drivers must carry at least $30,000 of coverage per person and $60,000 per accident for bodily injury and $15,000 for property damage.
So what’s boosting the cost?
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