Oh boy. It happened again: You hit the snooze button one too many times.
After a frenzied dash around your home – one sock on, a toothbrush hanging out of your mouth, and one kid asking why there’s a can of tuna in his lunchbox – you kiss the family goodbye and finally half-dive behind the wheel of your car.
It may seem like the only way to get to work on time is to go just a little over the speed limit. But just a little. Say, maybe 10 miles per hour over. But speeding doesn’t actually get you where you want to go that much faster.
Take this scenario for example: Say there are 100 miles between you and your destination.
- At the 65 mph speed limit, it would take 92 minutes.
- At 75 mph (speeding), it would take 80 minutes.
That’s only 12 minutes saved! And factoring in how quickly traffic can negate all time gained or how going faster burns more of your fuel, speeding isn’t really helping. In fact, it’s costing you. And if any of the consequences of speeding earn you a citation, those will definitely cost you when applying for life insurance.
During the life insurance underwriting process, the underwriter will take everything on your Motor Vehicle Report (MVR) into account.
- Accident reports
- Traffic citations
- DUI convictions
- Vehicular crimes
- Driving record points
Just like looking at your health history, occupation, and risky hobbies, an underwriter looks at your driving record to determine how risky you will be to insure. Even some violations that you’d consider to be minor can have drastic consequences for your life insurance application. Any indication of reckless and risky behavior is a red flag to an underwriter. The more negative activity on your driving record, the worse your insurance classification will be. And the higher your life insurance rate will likely be.
Another important thing to keep in mind: time plays an important role for your driving history. Depending on which state you live in, an MVR can feature violations from 5-7 years ago. Some violations will seat you in a lower classification for anywhere from 3-5 years after the fact. So if you’ve changed your ways (and made a personal pledge to never hit that snooze button and speed into the office parking lot again), some insurance companies may take that into account. But finding which one will give the most grace as time passes is key to a potentially lower life insurance rate.
No matter what your driving record looks like, working with me gives you an advantage: you have access to numerous providers and life insurance policies, upping your chances for approval and a more affordable rate. It’s not a guarantee for success, but working together is one way to slow down and work on your options for a life insurance policy that will protect you and your loved ones.