Drinking and driving is a serious offense, and possibly has the most profound effect on your driving record, and in turn, your auto insurance rates. Not only will you have your license suspended, have to pay insanely large fines, and legal fees, but a DUI/DWI will have much longer lasting effects on your life.
Auto insurance companies handle these situations in one of two ways; you’re rates will sore, or you’re policy will be canceled all together. A DUI/DWI instantly puts you in the high risk driver category. Why they do this should be obvious. Not only do you put yourself and your car in grave danger, but you’re also putting everyone else on the road in danger. Alcohol related accidents, on average, cause more damage than any other accident. This simple fact, is the reason your premiums will shoot up. After one DUI, your potential cost to the company is far higher, and this is reflected in your new rates.
There are many ways to prevent your auto insurance company from finding out about a DUI offense. Essentially, if you are able to prevent the DUI from showing on your driving record through plea bargains, or fulfilling conditions set by the judge. The faster you are able to get these charges off your record, the better chance you have of not getting terminated by your insurance company. Though as much as it may hurt to do so, we don’t recommend you withhold information from your auto insurance company.
If you do get canned by your auto insurance company, chances are that other companies in the same tier or higher tiers, won’t want to insure you either. This may mean you have to go to a less well known company. And its unlikely that these insurance companies will overlook your DUI/DWI. You’re likely to pay just as much in your premiums, if not more, with these lower tier insurance companies.
The best way to keep your rates low, is to not drink and drive to begin with. DUI/DWIs have an immense impact on your life. Many people don’t quite understand the impact of a DUI until it happens to them. Be responsible and don’t put your life, or the lives of others at risk.
In a typical Chapter 7 case, everything you own up to filing can be sold to satisfy your creditors. However, there are state and federal exemptions. You say you live in Ohio and you’re allowed to keep $20,000.00 of personal injury funds. If Ohio opted out of the federal exemption scheme, then you would report the settlement in your statement of financial affairs and your Schedule B, and in Schedule C claim it as 100 percent exempt.