Most drivers may run the risk of falling into the ‘high risk driver’ status at some point in their lives. As this designation refers to a variety of life and personal situations, understanding how you might be labelled a perilous applicant will be important. It will help in understanding how to avoid it, how to get the cheapest high risk automobile insurance and where to find an affordable insurer.
What Is High Risk Car Insurance?
This designation is not one that refers to a habitual offender by state department of motor vehicles, but is a specific designation by insurers after you have been assessed for an insurance quote. A dangerous driver label can be assigned for various reasons (see below). And these reasons can change from one company to another.
Depending on the amount of risk that each insurance company can accept in their portfolio, this label may be assigned to you by one insurer, but not by others. This is why getting multiple competing automobile insurance quotes is so important. Policies for more perilous motorists tend to be more expensive than regular ones. Here is a list of high risk auto insurance companies that may be able to offer you lower rates than other insurers. Quite a few insurers offer non standard coverage. But most of them would be too expensive as this is their way of saying they are not so keen on writing policies for people who are likely to make a claim shortly.
Who Is a High Risk Driver?
Each car insurance carrier has own assessment of policy applicants that looks at various factors and background information. Basically, characteristics and definition of a high-risk driver can change according to each company. Nonetheless, we can list several key characteristics below;
- DUI/DWI: You cannot expect sympathy after driving while drunk and risking lives, including yours. In the same way, you cannot expect to find economical car insurance. No matter which company you approach they will make you pay for it.
- SR-22: This is a classification of a driver who needs to fill SR-22 form in order to get his driving license back. This form helps DMV to monitor them. A motorists gets this classification after being caught driving without insurance or cause an accident while the vehicle insurance coverage is insufficient or non-existent. Or it may be that they are caught driving under the influence.
- Age: Usually teenage drivers are considered dangerous. However, some insurers may include anyone under the age of 25 or over the age of 70 in this category.
- Bad Claims History: Having already claimed at least once is seen as signs of things to come. Usually most claims on your policy will increase your premiums. However, large accident related claims where the policyholder was at fault will make a driver unsafe to insure.
- Traffic Moving Violations: Companies can see those and won’t be happy to see several speeding tickets or other violations there.
- First-time Drivers: Lack of experience will be seen as risky regardless of age.
- Lapse in Coverage: Policyholders who let their policy lapsed are considered with caution and they can be priced just like someone who is buying the first policy.
- Poor Credit History: Not many motorists are aware of this but most insurers check credit history. Poor credit history is seen as a good indicator of insurance claims.
- Non Standard Details: Something in your details may be out of ordinary that makes it harder for you to get quotes from large numbers of carriers. It may be because you have a foreign driver license or an unusually modified vehicle.
Can Drivers Still Find Cheap High Risk Insurance?
Finding affordable insurance for high risk drivers is possible. However, you must conduct a two-pronged approach to ensure you get the best possible price for your policy that you can. The first strategy that you need to employ is to look at how you can avoid or get rid of your dangerous label. Many insurers look at a whole variety of factors including school grades, profession, credit score, age and more. In order to get rid of this label, you can even take DMV courses for defensive driving in some cases to prove that you are bettering your driving experience. Turning 26, getting married, buying a top safety-rated vehicle, raising your credit score and getting good grades can all help in getting rid of the designation or by getting discounts that lower the overall premium even with a hazardous designation.
Secondly, in order to get the most competitive high risk car insurance, you need to find the insurers that want your business. There are literally hundreds of companies, but not all of them are looking for your business. Certain insurers specialize in different areas, including high risk driver insurance. Some national providers have such a huge base of policies that they can accept riskier applicant opening the door to lower premiums. The key is ensuring that you keep getting quotes until you find an insurer that does not label you as bad as others, or by finding an affordable policy. If the situation is quite bad you may have to look at non-standard insurers.
What If You Can’t Find Car Insurance Coverage
Unfortunately, there are times, when all car insurers in your area label you risky with high premiums, or simply deny providing quotes. Since almost every state requires that drivers have insurance, in the case that all companies deny you a policy, the state must provide an alternative car insurance plan. These plans are usually state-run insurance coverage plans that cover the uninsurable who are not eligible through regular auto insurers. These plans are still available through regular agents, online and other sources. These plans should be used as a last resort as they are typically even more expensive than non standard insurance policies available in the market.
Get started finding affordable high risk vehicle insurance right here with our great quoting tool. Find quotes in your area from the best vehicle insurers. Remember the key to finding affordable premiums for motorists with blemished driving records is to be persistent and keep looking and getting quotes until you find the one insurer that will not penalize you as much as others. Also, keep in mind that this may be a temporary situation after a recent accident or traffic violation conviction. If you keep your nose clean you may be able to get better rates from traditional insurers as early as next renewal and switch.