Auto Insurance for High Risk Drivers
When insuring an asset or property, insurance companies will calculate the risks involved. In fact, insurance companies often view their clients and policies as investments. In order to protect against some risks that people impose on insurance policies, insurance companies will charge a high premium. This fact is widely known for auto insurance, and high risk drivers will be forced to pay higher premiums on their insurance policy. However, many people get confused with what constitutes a high risk driver. Everyone knows that someone who receives a DUI will be considered a high risk driver.
However, simply receiving a moving violation ticket or a speeding ticket will also raise the rate on auto insurance. In fact, some drivers experience such high premiums that they are unable to afford auto insurance. What most of these people don’t realize is the fact that there are some auto insurance companies that provide auto insurance for high risk drivers. In order to find affordable auto insurance for high risk drivers, high risk drivers need to go online and compare rates and quotes between insurance companies. High risk drivers should also be aware of their driving record, and they should also be familiarized with what causes a driver to be considered a high risk.
Not only do DUIs and speeding tickets raise the premium on auto insurance. In fact, a number of factors are calculated by the insurance company when they weigh the risks of the driver. For example, drivers who are under the age of 25 are considered a high risk than drivers over the age of 25. The age of the driver will play a huge factor in the cost of auto insurance, even if the driver has never been involved in an accident or received a ticket.
When seeking affordable auto insurance for high risk drivers, drivers should know what type of points is on their license as well as what tickets are currently on their record. A typical speeding ticket will stay on a driver’s record for at least 3 years in the state of California, which will affect the driver’s insurance premium. In some cases, the driver may be refused coverage by major auto insurance companies because they are considered too much of a risk. However, there are subprime auto insurance companies that are willing to take the risks involved with insuring high risk drivers.
In some cases, individuals with a significant amount of dings on their driving record may be eligible for special auto insurance programs that are offered by the state. Each state will have special programs for individuals who are trying to rebuild their driving record. In most cases, drivers who are denied auto insurance from multiple auto insurance companies will be approved for special auto insurance. Each state will have different programs available to high risk drivers, but drivers are more than likely to find affordable auto insurance if they do the research by going online. Most auto insurance companies have the same set of regulations that dictate what constitutes a risky driver.
For example, 3 or more driving convictions on a driver’s record that are found guilty will be considered a high risk driver. Those who are convicted of driving under the influence only once will also be considered a high risk driver. Reckless driving like a hit and run will definitely be a high risk driver. High risk drivers do have a few choices when it comes to finding affordable auto insurance when they go online. However, it is always advised that drivers do everything they can to maintain a clean driving record. Insurance companies are forced into protecting themselves from high risk drivers by charging high premiums.