If you are seeking a high risk automobile insurance company, be sure to look around at different insurance agencies and companies. Rates can fluctuate wildly and proper coverage is important. Be certain to check out what your policy covers before spending your cash on a larger premium for a high risk policy. High risk auto insurance covers certain drivers that do not meet the criteria for a regular policy. Reasons for needing high risk insurance include a poor driving record, whether or not you have had continuous auto insurance coverage, your credit score, and your personal profile.
Reasons Why You May Be Considered A High Risk Driver
Most people realize that a poor driving record will increase your insurance premiums. What you may not realize though is that being involved in an accident that is not your fault can also raise your premiums. Speeding tickets will also hike up those rates, as they increase your chances of being involved in an accident.
If you have had extended or repeated periods of time with no insurance, you can expect to get bumped up to a high risk policy. Auto insurance companies will assume that you have either been driving without insurance which is against the law, or that you have been canceled by your last company. Both of these situations put you into a higher risk category because the company is worried about your ongoing ability to pay your premium.
How Your Credit Score Can Affect Your Premiums
As with many things, your credit report may affect the cost of your premiums. Statistics have shown that people who are slow to pay their bills tend to make more insurance claims that people with a higher credit score. Finally, certain personal characteristics can also put you into a high risk category. Males typically pay more than females for insurance, teens are higher risk than adults, and city dwellers are considered higher risk than drivers who live in the country.
How To Lower Your Premiums
There are many things that will help to lower the cost of your insurance and eventually get you off the roster of high risk drivers. Some of these things take a while, like repairing your credit rating by paying your bills on time and improving your driving record by not getting any tickets or getting into any accidents.
There are things you can do right away that will also cut the costs of your high risk rates. You can purchase straight liability coverage and eliminate the cost of comprehensive and collision coverage. This works out well if you are driving an older vehicle that you aren’t likely to fix anyway, after a major collision.
You could also to take the risk of carrying a lower amount of standard coverage to complement the liability coverage. You can shop online to compare costs of different companies and agencies.
While it has typically been very difficult for high risk drivers to be accepted by many insurance companies, all 50 states now have programs in place for high risk drivers that have been turned down or who simply cannot afford the premiums.
You may wind up being considered a high risk for auto insurance without any fault of your own. It’s been said that you are only as good as the other drivers on the road and in the world of car insurance, it seems to be true. But even if you’ve been tagged high risk and get hit with a high premium, the situation is only temporary as long as you maintain your insurance, don’t get any tickets, and avoid any accidents. Eventually, your rates will go down again.
Compare High Risk Auto Insurance Companies Online Now!
Be certain to compare insurance companies because rates for high risk car insurance vary widely. Shop and compare to find a deal that meets your needs. For more information about high risk auto insurance, and how to obtain it in your state, all you need to do is fill in your zip code in the box at the top of this page and click submit. You can also find the link box on our home page. Learn all you can about your high risk status and then find the best insurance to meet your needs.
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