Auto insurance can be expensive, but it doesn’t have to be. Even those labeled as “high risk” or “risky” can still find affordable auto coverage (although good deals might be harder to come by). As always, shopping around for the best deal is your best bet for finding affordable auto insurance for high risk drivers.
What Is A High Risk Driver?
The short explanation of a high risk driver is one who poses a high financial risk to the auto insurance company. In other words, someone that is likely to cost them money. There are typically two different classifications of high risk drivers.
The most common type of high risk drivers are younger, inexperienced drivers. Often times, teenage drivers fit this bill. Statistically speaking, these drivers are more likely to be involved in an accident, and the auto insurance companies know this better than anyone. Assuming you have a relatively clean driving record, you’re likely to see a rate decrease around your 25th birthday, when most auto insurance providers stop considering you to be high risk.
The second group of high risk drivers consists of DUI offenders, those with multiple speeding tickets, and accident prone drivers. If either of these groups sounds like you, the auto insurance companies may consider you a high risk driver.
Why Do High Risk Drivers Have To Pay More For Auto Insurance?
The name say it all. These drivers are very risky, and often times expensive to insure. This is because the chance of the insurance provider having to pay for repairs, medical bills, and property damage is much higher. In order to cover themselves financially, they must charge higher rates to those more likely to wind up in an accident.
What Do Insurance Companies Deem To Be Risky?
To get a better idea of who is a high risk driver and who isn’t, picture these two cases:
- Male aged 17
- Drives his dads old Ford Mustang
- Drives his car to school and to work. He also likes to “race” with his friends on the highway.
- Already has two speeding tickets (he has been driving for less than a year)
- Arrested for driving under the influence. Depending on the outcome of his trial, he might get his license revoked.
- Female aged 45
- She is an elementary school teacher
- Her children are away at college, so the only people on her policy at home are her and her husband.
- Never had a traffic violation or an accident
Now ask yourself – if you were an insurance company, who would you rather insure?
Save Money On High Risk Auto Insurance
Proving to the auto insurance companies that you are in fact a safe and responsible driver can go a long way when it comes to saving on high risk auto coverage. Luckily there are many ways to do this. The most popular and effective way to do so is to take a defensive or safe driving course, which you can find more information on from your local DMV office.
A car with a good safety reputation, and all the latest safety devices will also greatly reduce the risk you pose to your insurance provider. Such safety devices include automatic seat belts, anti-lock breaks , and airbags. Fast or “tricked out” cars are a definite no-no for high risk drivers, and driving such a car can greatly increase your premiums.
How Do I Know If I’m Considered A Risky Investment?
Most people don’t find out they are high risk driver until they’ve been declined by a number of auto insurance companies. But there are some easy ways to determine if your are a high risk driver before even getting a quote.
DUI/DWI – If you have one of these on your driving record within the last 10 years or so, chances are you will be considered a high risk driver. Taking driver improvement classes and alcohol or addiction classes may improve you chances of finding an auto insurance policy.
Young drivers with bad records – If you’ve been driving for a very short time, and already have a number of tickets and accidents on your record you may be considered a high risk driver. Again, taking driver improvement classes will help you out.
Fast/Expensive Cars – Even if you have a clean driving record, an expensive, high performance car may lump you into the high risk driver category. A good way to counteract this is to make sure your car is loaded with safety features.
Finding High Risk Car Insurance
As stated above, just because you are considered a high risk driver, doesn’t mean you won’t be able to find someone to insure you. Most large auto insurance companies will be happy to insure you for a higher rate.
There are also auto insurance companies that specialize in high risk drivers. If applying for quotes online, they will usually be able to determine your risk level on the spot after you’ve entered your driving history. As a result, you will probably get high risk auto insurance quotes for high risk auto insurers.
If you stand any chance of finding and affordable rate on car insurance, you must get quotes from as many companies as possible. This step is made easy by simply entering your zip code above. You’ll then be presented with the best offers auto insurance has to offer. And yes, even high risk drivers can incredible deals from the leading companies, and even providers that specialize in the field.