Finances & Money

Managing Costs by Driving Safely

Whether you’ve had a ticket, accident, or any other kind of incident behind the wheel, you know that driving dangerously in your vehicles will cause your insurance rates to go up. That’s especially true if you have more than one offense. In addition, if you drive carelessly, you’re more likely to have an accident and that can cost you a fortune in repairs and other expenses. Follow these tips for driving safely and learn how to manage the money you spend on your vehicles more effectively.

Never Drink and Drive

This one seems like an obvious answer, but some people still think it’s okay to get behind the wheel after drinking or taking substances. It’s never okay, not only for the potential risk of injury or death but for the charges related to any legal trouble you encounter getting pulled over or in an accident. Considering all the traffic fatalities in Alaska in 2018, for instance, 36% resulted from alcohol or substance-impaired vehicle operators. That’s nearly one-third of accidents that could have been avoided by not getting behind the wheel.

Along with the blemished record, these drivers will have hanging over their heads for the rest of their lives, they also face large fines and other charges if they are convicted of the crime. In most states, it costs over $10,000 or more when it’s all said and done. That’s what’s paid to the court, lawyer fees, insurance rates, and any other monetary damages that come along. That’s one big bill to pay. So, when considering what you can do to manage your spending related to vehicles, it’s plain to see that drinking and driving should be avoided no matter what.

Obey All Traffic Laws

Traffic laws were put in place for a reason. When drivers don’t follow traffic laws, accidents happen. What happens when there’s an accident? Damages are caused to the vehicles. Vehicle repairs are not cheap. In fact, on average, you can expect to pay around $356 for repairs annually without getting into or causing any accidents. When there’s body damage or damage to any of the vehicle components, you’ll be looking at a bill.

Unless you are knowledgeable in and capable of fixing cars yourself, you can expect to pay not only for the parts required but a hefty price for labor as well. Instead of worrying about something like this draining your bank account, just follow the traffic laws, including staying within the speed limit, using turn signals, and stopping at all stop signs. Some insurance providers even reward drivers who drive more safely on the road which will help you save even more. When you get behind the wheel, make the right decisions and the benefits will show.

Keep Your Record Clean

If you’ve had your car insurance for a while, you’ve likely noticed an increase in your rates over time. Chances are it’s because of a ticket from long ago, an accident reported, or another traffic violation. In addition, rates tend to creep up the longer you stick with the same company for too long. So, you could potentially offset the cost of having a traffic violation by checking for a different insurance rate through a new provider every couple of years. Eventually, as long as you continue to follow the laws, that ticket will fall off, and your rates will decrease even more.

Most importantly, don’t drink and drive. According to Esurance and the Insurance Institute for Highway Safety, holiday crashes, with the fourth of July being the worst, are the primary time fatal car crashes occur, with 40% of deaths caused by drunk driving between 2007 and 2011 happening over the Fourth of July weekends. Stay safe and reduce or avoid costs by abstaining from alcohol and substances before driving, obeying all traffic laws, and keeping your record clean.