The Financial Benefits Of Safer Driving
We shouldn’t need to tell you about the benefits of safer driving.
Hopefully, you already understand the risk to both your life and the lives of others when you behave recklessly on the roads. There are financial benefits to safer driving too, and while these are probably of no surprise to you, we are here to remind you of them anyway.
If you’ve had a financial setback, this article can help.
Benefit #1: Avoiding the economic impact of a car accident
The reason for a car accident may be through no fault of your own.
Our highways and byways are littered with reckless drivers, and you might be an unfortunate victim. On the other hand, if you are guilty of speeding, driving under the influence, or not paying attention to the road, you might be the influencing factor in an accident that could cause an injury or worse.
On a financial level, you will need to deal with repair costs for your car. You might have to fork out money on medical bills. And if you are guilty of a criminal offense, despite the assistance of esteemed legal firms such as https://www.leyba-defense.com/, you will still incur some legal costs.
Oh, and as we will examine below, you will also see a price hike in your insurance premium. Drive safely then, and reduce the personal and financial costs that might follow if you don’t!
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Benefit #2: Qualify for a lower insurance rate
As we discussed here at https://www.accountingaccidentally.com/, you need to be mindful of less expensive car insurance.
While you might think you have netted yourself a good deal, you might not have the coverage you need, and this could have financial repercussions for you later. However, there are ways to lower your insurance premium, and unsurprisingly, this includes driving safely.
If you have a clean driving record, one free of penalty points and other pointers to criminal negligence, you might qualify for lower rates and special discounts.
You can also qualify for lower insurance if you install a telemetric device in your car. Around the size of your cell phone, some insurance companies offer these boxes to drivers looking to showcase their safe driving and reduce their premiums. With evidence acquired, the driver should then be offered a discount, sometimes as much as 50%.
You can learn more about telemetric devices at https://www.thesimpledollar.com/. You might also qualify for lower insurance (and learn safer driving skills) if you take a defensive drivers course, so that’s also something to think about if you’re currently paying more than you think you should be on your insurance.
Benefit #3: Pay less for gas
Other than the cost of insurance, your other financial burden each month will be the price of fuel.
While you can shop around your local gas stations for cheaper deals, you can also reduce your gas mileage by driving safely. As discussed in this article at https://www.moneycrashers.com/, this includes keeping to the speed limit, braking gently, and driving smoothly.
The alternative is burning more gas by driving too fast, braking aggressively, and performing reckless maneuvers on the road. Of course, not only will you save money on fuel if you drive safely, but you are less likely to be hit with a costly driving fine should the police catch up with you.
Use these tips to become a safer driver and to reduce the cost of operating a vehicle.
Ken Boyd
Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies
(email) ken@stltest.net
(website and blog) https://www.accountingaccidentally.com/