Of the 230 million automobile drivers in the U.S., it’s not uncommon for people to speed, run a red light, or break any number of traffic laws. But each and all of those driving errors—from the technical to the egregious—carry a cost.
In a recent post on personal finance website WalletHub’s “Ask the Experts,” Robert B. Hardaway, Jr. Lecturer of Personal Finance Dot Kelly offers some advice for those drivers who are convicted of committing a moving violation and have points added to their license. As the number of points is based on the seriousness of the law broken and varies according to the state, drivers need to be aware how negatively impacting their driving record affects their insurance payments.
Kelly discusses the importance of executing a plan to manage insurance costs, finding appropriate driving improvement courses, and being forthright with completing necessary paperwork with insurance companies. Detailing the critical role of taking action to solve the problem with “time, energy, and creativity,” she notes that having goals and the resolve to fulfill them are instrumental in correcting the problems caused by carrying points on a driver’s license.
“Motivated drivers who understand and manage the various factors can take steps to reduce the points on their licenses and make additional changes that will lower their insurance costs,” says Kelly.
