When it comes to car insurance, high-risk drivers may find themselves paying more for coverage than their low-risk counterparts. If you're a high-risk driver, it's vital to be proactive about finding the right insurer and policy that fits your needs—and doesn't break the bank. Let's discuss some tips for getting the best rates on car insurance, even if you’re a high-risk driver. But first, let's talk about high-risk auto insurance.
What Is High-risk Auto Insurance?
High-risk car insurance is for drivers who don't qualify for standard coverage. These policies generally feature higher rates. They are also often more expensive than traditional car insurance. For example, the average premium for a high-risk driver is a little over $3,000 per year—that's at least $1,300 more than an experienced driver would pay. High-risk drivers also face potential surcharges and restrictions on their coverage policy.
How to Determine if You're a High-risk Driver
There are a few ways you can determine if you're a high-risk driver. For instance, young drivers and first-time car owners may be deemed so from being more accident-prone. Those who have had their license suspended or revoked are typically classified as high-risk drivers. You're a high-risk driver if:
- You have several traffic tickets
- You have a criminal conviction
- You've been in an at-fault collision
- You have performance-boosting accessories on your vehicle
- You drive your car for delivery purposes
If you fall into any of these categories, speak with your insurer to determine what sort of coverage options are available to you. You can also go online and research the best insurance companies for high-risk drivers. Progressive is a popular option for high-risk drivers—learn more by checking out these Progressive insurance reviews.
How to Reduce Your High-risk Insurance Cost
If you are a high-risk driver, here are ways you can reduce your car insurance cost:
1) Improve Your Credit Score
Your credit score plays a pivotal role in determining your rate. It's essential to check it and correct any erroneous information on your report. Having good credit will help you qualify for lower premiums from some insurers.
2) Take a Driver's Ed Course
Driver's education courses can reduce your insurance rate. Taking these shows providers that you're taking active steps to improve as a driver. Taking one will qualify you for specific discounts offered by various insurers.
3) Take a Defensive Driving Course
Taking a defensive driving course goes hand in hand with taking a driver's ed course. It also has other benefits. For example, some states will reduce your rate if you've had a traffic ticket and/or accidents on your record. If you live in such a state, taking a defensive driving course is sure to lower your rate as it will show the insurer that you're trying to be a better driver.
4) Get Extra Training
Depending on the circumstances, insurers may offer special training courses to help you become a better driver. For example, if you've had your license suspended because of an accident or traffic ticket, taking an online driver rehab course could lower your rate. Various insurers offer these courses and may come with other perks, such as paying lower deductible rates for repairs or helping you avoid surcharges on specific types of vehicles.
5) Purchase Auto Protection Products
Insurers may offer various perks, such as collision coverage for vehicles with performance-boosting accessories or uninsured/underinsured motorist protection for drivers without enough coverage. If your insurer does not currently cover these risks, you can ask them to do so. Mind that these products usually come with a surcharge.
6) Don't Drink and Drive
The best way to avoid high-risk insurance rates is to prevent accidents, and a good way to do this is by not drinking and driving. For example, if you've had a DUI conviction on your record or have been caught driving under the influence with an invalid license, many insurers will classify you as a high-risk driver. If you live in a state where DUI means automatic license suspension, you may want to install an ignition interlock device on your vehicle. This will ensure you're sober before starting your car.
7) Don't Speed
The faster you drive, the greater the chance of getting into an accident. Not only do speeders have a higher risk of crashing, but they also cause more damage during accidents. If you've had traffic tickets on your record or have been caught speeding in the past, insurers may consider you a high-risk driver.
The Bottomline: Be Proactive
If you're a high-risk driver, it's vital to act as soon as you can. Sure, your insurer may have high rates in place, but being proactive in taking steps to improve your driving will give you the best chance of getting low-cost car insurance.
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© by Bailey Miller 2022