High-risk drivers are often at a disadvantage when it comes to buying cheap car insurance because most insurance companies charge higher premiums on car insurance for high-risk drivers.
So what are high risk drivers?
Simply put, these drivers are often inexperienced or accident prone and therefore pose a higher than normal risk to the operations of auto insurance companies. These insurance companies are in business because they can benefit from the premiums paid to them on a monthly basis and if you are more likely to file claims than the statistical norm then they will see you as a risk to their profitability ratio. In that case, they will charge you more in order to better cover your losses.
The relatively inexperienced driver, generally those who come from the 16-25 age group, are classified as high risk because statistics have shown that they are usually the ones caught up in an accident. By age 25, if you have maintained a safe driving record, you should see your premiums drop significantly or move out of the high risk category. Those over 55 are also in the same risk range for the same reason.
Another segment of the driving public that falls into the high-risk insurance category are those whose history is peppered with fines, DUI or DWI convictions, and those who have listed in multiple accidents. in the last five years. Once again, experience has shown auto insurance companies that this population has cost them dearly in terms of paying for auto repairs, hospital bills, and property damage.
Also included in the high risk category are those whose vehicles have been heavily modified and turbocharged or those who drive sports cars with powerful engines. Although admittedly a stereotype, the statistics again tell auto insurance companies that these cars, when driven, typically receive the most tickets for speeding or violating other traffic rules.
Lastly, those with low credit scores are also viewed as high risk drivers. History has shown that they are more likely to file claims on their auto insurance.
How to get cheap auto insurance for high-risk drivers?
Although it may seem impossible to get affordable rates, there are many ways for a high-risk driver to access cheap car insurance, primarily by showing these insurance companies that you can be a safe and responsible driver despite your inexperience or the amount of accidents you have I have accumulated in the past (it is still possible, you know).
· Improve your driving record. Check your driving record with your local Department of Motor Vehicles (DMV) for your baseline. From there, enroll in a safe driving course. Also, pay any pending traffic violations. If you are a new driver and you are a teenager, make sure you pay attention while driving; Don’t drive when you’re drunk and for God’s sake don’t text while driving. If you’re lucky, you can make it to age 25 without a ticket or accident, at which point you should graduate from the high-risk stereotype.
Install security devices in your car. Especially if you drive a much-improved car, installing automatic seat belts, air bags, and anti-lock brakes would help you negotiate a discount on your high-risk driver premium.
· Change your car. Instead of driving a fast car or a highly modified one, you can always switch to a calmer vehicle that won’t tempt you to max out your car’s speed limit every time you sit behind the driver’s seat.
· Quotes store. Call ten companies and request a quote from each so you can have a basis for comparison. Be patient; It will take time, but surely there will be a couple of companies that will respond to your inquiry.
Where to find auto insurance quotes for high-risk drivers?
The best way to get better and more affordable rates is to buy cheap car insurance online. People usually end up with higher rates because they don’t know exactly where to look. Online, you can compare different rates from different carriers.
Online sites usually require you to enter your zip code, full name, and email address. You can fill in your requirements and the companies will contact you with their quotes. You should not only compare your quote with the company that has the lowest premiums, but also with the ones with the highest levels of coverage, as the latter can go a long way when you’re listed in an accident.
Although finding affordable auto insurance for high-risk drivers can be challenging, cheaper rates are still possible if you have the time, patience, and determination to get them.