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How Does Your Driving Record Affect Life Insurance?

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Securing life insurance is one of the most important purchases to make. No one enjoys talking about the unexpected, especially something as difficult as your own death. But it’s important to set up security for family members or dependents so that in case of an accident, you can still take care of your family.

 

Buying life insurance comes with questions maybe you weren’t prepared to delve into. What are your habits? What is your family health history? Or even: What is your driving record like? Insurance companies are interested in your health and want to make sure you have a lifestyle that fits the policies they have in place to serve you best. So it’s important to be prepared for these questions ahead of time.

 

Buying life insurance comes with questions maybe you weren’t prepared to delve into. What are your habits? What is your family health history? Or even: What is your driving record like? Insurance companies are interested in your health and want to make sure you have a lifestyle that fits the policies they have in place to serve you best. So it’s important to be prepared for these questions ahead of time.

Can your driving record affect your ability to buy life insurance?

 

Absolutely! Your driving record can affect your ability to purchase life insurance.

 

Surprised?

 

It may seem a bit unfair, but your driving record acts as an indicator for how many risks you take while on the road. Reckless driving occurrences and speeding tickets tell insurance underwriters that applicants could possibly represent a hazard on the highway, to themselves and others.

 

A record of many car accidents can also indicate that a driver takes more risks on the road than what is safe. Insurance companies asses this information before offering a life insurance policy because the buyer becomes a liability once they sign into a new life insurance policy.

 

Therefore, your driving record can affect your ability to purchase life insurance. Some companies will not take on a new client with a bad driving record.

 

One advantage, though, is that some life insurance companies don’t look at your entire driving history, especially if you’ve been driving for a long time.

 

One bad night when you were a teenager, but you're in your 30s now? You probably have nothing to worry about.

 

Ask your insurance agent how many years they look at, but typically they will review your driving history of the past five years.



Can your driving record affect your life insurance rate?

 

Ability to purchase life insurance isn’t the only thing affected by your driving record. Your driving record can also influence your life insurance rate. This is one reason it’s very important to keep as clean of a driving record as possible. Let’s say you are ready to work with your agent to find a rate that suits you. The worse your driving record, the more your rate might increase. Essentially, the more hazards you’ve shown through your driving record, the more of a risk you are to any company.

 

How to keep a clean driving record or improve your current one

 

Like your academic history, family history, and many other types of records over time, a driving record will always follow you. It also takes time to establish your record as one that proves you are a safe driver.

 

Though a few minor speeding tickets here and there won’t ruin your driving record, there are ways to keep a clean record or improve one that’s headed downhill.

  • Get a copy of your record– The first thing to do is find out exactly what is on your driving record. Then you can do more research about the items you find. You can obtain a copy at your local DMV.
  • Do some research – Find out how long each item on your record lasts. Some things such as speeding tickets may expire and come off your record. If that’s the case, just avoid getting more citations and over time, you’ll wipe your record clean.
  • Avoid speeding – It can be difficult, especially on those long treks with few cars, but speeding tickets can weigh down your driving record. And it only takes one ticket going a little too fast to get cited for reckless driving.
  • Don’t be an aggressive driver – Aggressive driving means risky driving. The more aggressive you get behind the wheel, the more danger you incite. Cutting people off, tailgating, changing lanes too quickly, and other forms of aggression can increase your risk of crashing.

 

Some surprising things can affect your eligibility for an affordable life insurance policy. The most important part of life insurance, though, is having the right amount of coverage. Don't buy more than you need, but don't let your family go without.

 

Set up an appointment with us right now to discuss your life insurance needs.

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