3 Financial Consequences of Poor Driving

You like the freedom of being on the road, right? You like being able to go where you want when you want. You either own or lease a car. And you like to think that you’re responsible for all of the financial considerations that come with using your vehicle. However, many people get caught in a financial trap quite quickly, especially because they don’t understand some of the economic consequences of poor driving.

3 Financial Consequences of Poor Driving

Poor driving doesn’t just make you and the people around you unsafe; it can also hit your pocketbook. If you hit another car, it can be a very expensive fender bender. If you do something and get caught on the wrong end of a lawsuit, you can have to pay for court dates. And anytime you get in an incident on the road, your insurance rates are going to go up, which will potentially affect your finances for the rest of your life! If you make sure that you are a good driver on the road, you will not have to pay the financial penalties for being a lousy driver.

Expensive Fender Benders

When you get in a car accident, it’s going to cost you money. Because of this, you might wonder why people insist on speeding, tailgating, or distracted driving. There really is no logical psychological explanation for this. There are many poor drivers on the road, and they go too fast, get too close to the cars in front of them, and do things like text and drive or put makeup on while they are operating their vehicles. All of these activities are bound to end up in a financial disaster eventually, let alone the injuries that might occur from these bad habits.

Court Dates

If you end up having to go to court for a traffic infraction, that costs you money. It might cost you money because of lost wages. It might cost you money because you have to pay for a lawyer. It might cost you money because you have to pay for the damage that you caused some other vehicle or some other person’s piece of property. All of those things are very negative. If you want to stay out of court, simply follow the rules of the road and drive defensively every time you’re in a car.

Insurance Rates

Lastly, if you ever have any incidents on the road with your vehicle, your car insurance rates are going to go up. In many cases, it doesn’t even matter if you’re specifically at fault. If something happens on the road in your car or someone else’s car or property gets damaged, you have to tell your insurance company, and your insurance company is going to raise your rates, potentially forever. It’s not worth the risk!

Posted in: Finance