Understanding the Economic Costs of an OVI and Its Impact on Insurance Rates Summary:
Getting an OVI can cost you time and stress, but it can also have serious financial costs, including increased insurance rates. Read more to learn about the possible economic costs of an OVI. Getting an OVI can cost you time and stress, but it can also have serious financial costs, including increased insurance rates. An OVI (operating a vehicle while impaired) can cost between $5,000 and $25,000 depending on a few factors. Here are possible economic costs of an OVI:
Bond
If you are arrested for an OVI, you will need to pay to get out of jail. In Ohio, there is often a set amount of bail for a first-time OVI offender. Otherwise the bond amount may be based on factors such as the amount of previous OVIs or the severity of the offense.
There are several types of bail bonds decided by the court:
A recognizance bond requires you to sign papers promising you will show up in court at a later date. This bond does not require you to post any collateral, but if you fail to appear in court there may be up to 6 months of jail time and up to $1,000 in fines.
Or, you can pay 10% of the full bond amount to be released from jail. Once you appear in court, the money will be returned.
However if the court does not grant you a percentage bond, you may need to pay the full amount to be released.
Legal Fees
There are possible legal costs associated with an OVI including attorney’s fees and court costs. The court may charge fees to handle your case, ranging from a couple hundred dollars to a few thousand dollars, depending on whether or not you are a first-time offender, whether your case goes to trial, and other factors.
Attorney fees can depend on whether you take a plea or go to court, whether you are a first time or repeat offender, and other factors depending on your situation.
If you go to court without a lawyer, you will likely have to pay your fine and accept whatever penalties the judge decides.
If you hire a lawyer for your OVI case, they can work to reduce your fines and penalties. The experienced OVI attorneys at The Law Offices of Steven R. Adams can help you navigate the legal process and save your time, money, and reputation.
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Fines
In Ohio, OVI fines can range from $375 to $1,075 depending on previously mentioned factors (whether you are a first time or repeat offender, severity of the offense, etc.). Hiring an OVI attorney can often help you reduce your charges and fines.
Insurance
Drivers with one or more OVIs will be required to pay increased premiums, and some insurers may refuse to cover drivers with OVI convictions. Insurance premiums often increase by an average of around 90%, with an average increase over $1,000 annually after an OVI.
Drivers with OVIs will likely also lose any bundled insurance or safe driver discounts, and it may be harder to find new insurance if you wish to switch or if you are dropped by your carrier.
Number of OVIs, any injuries/damages, presence of others in the vehicle, and other factors can affect the exact cost and consequences of your insurance.
An attorney can help reduce your charges, which can help when dealing with insurance after an OVI. It is also important to shop around to find the best insurance rates with an OVI conviction(s).
If you have an OVI conviction you are required to have an SR-22 in addition to your insurance. An SR-22 is a certificate for those who are considered “high-risk drivers.” The Ohio Bureau of Motor Vehicles (BMV) charges a processing fee around $25. However there are more associated costs of an SR-22 such as insurance premium increases and a driver’s license reinstatement fee.
BMV Costs
If you receive an OVI, your driver's license could be suspended and you may have to pay a reinstatement fee. The Ohio BMV charges a $475 reinstatement fee to reinstate a driver's license after an OVI conviction or BAC test refusal. If you qualify for a payment plan, you may be able to pay off the fee monthly.
The court may require you to take driving courses/traffic school as a consequence of an OVI, which could cost a couple hundred dollars.
If you are a first time offender, the court may allow you to complete the Ohio’s Driver Intervention Program (DIP) as an alternative to the mandatory three-day jail term. DIPs are a two- or three-day process of education and screening, and may also include a referral for a complete alcohol/drug assessment. Some people receiving public assistance may be eligible for assistance to help pay the fee for a DIP. Otherwise, the course costs $400.
Alcohol Treatment
The court may require you to receive treatment for substance abuse. The cost will likely be covered by the state or by your health insurance.
Towing & Impounding Fees
After an OVI, you will need to pay a towing fee which is typically several hundred dollars, depending on how far your car is towed. You will also need to pay another fee of several hundred dollars to store your car.
Ignition Interlock Device
After you receive an OVI, the court may require you to install an ignition interlock device in your car, which costs around $100 plus monthly monitoring fees.
The economic costs of an OVI can really start to add up, not including lost time/income. We understand that receiving an OVI may come with emotional and financial stress, and our experienced OVI attorneys are here to help you achieve the best outcome.
