There are two important aspects of Driving Record Protection. The first and foremost, is the premium savings from not having your driving record reduced as a result of your first at fault loss.
Having your driving record reduced to a 5* or 7* depending upon the company, would result in an annual premium increase of $500.00 or more. The driving record would not be reinstated until you have been 9/10 years driving without an accident. Again, dependent upon the company you are insured with.
The second area it addresses, is Filed Rules. The government requires each insurance company to file rules as to who it will and will not insure.
We will dwell on the rules common to most companies concerning accidents for drivers who would qualify for Driving Record Protection.
Two at fault accidents within a six-year period, would result in a non-renewal.
One at fault accident within the last six years, along with two minor convictions within a three-year period, would result in a non-renewal.
One at fault accident within the last six years, along with one minor conviction within the last three years, and one cancellation for non-payment would result in a non-renewal.
In these cases, coverage would need to be obtained with a non-standard, high risk company at significantly higher rates.
The Driving Record Protection endorsement, would remove the at fault accident from consideration for filed rules.
As an example, it is very common for a minor conviction of Following Too Close, or Improper Turn, to be obtained in connection with an accident. Another minor conviction such as Speeding, Failure To Wear Seatbelt, or Failure To Provide Evidence of Insurance within the next three years would result in a non-renewal.
The annual premium for this endorsement ranges from $50 – $100, with some companies including it in their preferred rating.