What is an MVR Report
An MVR, or Motor Vehicle Report, is a report that contains information about any traffic or driving violations that exist within the past three to five years. Insurance agents can access this information while quoting, and they will use the information provided to finalize pricing and verify that the client will be eligible to get coverage.
How Will This Affect My Insurance?
A motor vehicle report can impact an insurance policy in multiple ways.
- Premium - The first way that MVR data can impact an auto policy is by way of the premium. Naturally, any activity found on an MVR will typically raise the price of the insurance policy due to the fact that prior violations typically point to a riskier driver.
- Discounts - Most insurance companies have discounts that they offer to drivers with no traffic violations over a certain amount of time. This time period usually consists of the prior 3-5 years depending on the carrier.
- Eligibility - Most insurance companies have the option to deny coverage to a potential client due to information found on their MVR report. This can be based on the total number of violations, frequency of violations, or severity of the violations.
How Often are MVRs pulled?
An MVR will typically be pulled at the time the agent originally runs quotes for the policy. This is the best-case scenario because it gives the consumer complete transparency and the ability to purchase the policy based on a finalized rate. Keep in mind that some insurance companies do not run an MVR until after the policy is issued. This can create sticky situations if the MVR comes back with violations because the rate will likely increase to an undisclosed amount. For this reason, it is important to ask if the MVR has been run anytime you are presented with quotes for your auto insurance. After the initial MVR is run during quoting, most insurance companies will run an MVR each time the policy renews. This is why you will not usually see an increase in premium immediately when you get a ticket, but there will usually be a drastic increase at the next renewal.
How can I keep my records clean?
Keeping your record free of violations can save you thousands of dollars in the long term. Remember, tickets and traffic violations can affect your premium for the next 3 - 5 years, so you’ll want to do anything you can to keep these items from appearing on your record. The easiest way to do so is to avoid traffic violations. Be aware and compliant with speed limits, traffic signs, and the rules of the road in your state. If you do happen to get a ticket, be diligent about taking care of it in a timely manner. Check the rules in your state to see if there are any options to have it dismissed from your record. These options may include things like participation in a defensive driving or driver safety course. You’ll also want to keep in mind that most states have a very strict limit on the number of tickets that can be dismissed, so your best bet is to abide by the rules of the road and avoid traffic tickets altogether.
In conclusion, a violation-free driving record is crucial for maintaining affordable auto insurance premiums. Your Motor Vehicle Report is one of the major factors that determine the rates you pay. Your driving history and violation record provide insight into your level of risk as a driver and the probability of filing insurance claims. Therefore, it is essential to take the necessary steps to stay safe on the road and avoid traffic violations. By keeping a clean violation record, you can unlock added discounts, save money on insurance premiums, and increase safety on the roadways.
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