What is High Risk Auto Insurance?
High risk auto insurance, also known as non-standard auto insurance, is a type of personal auto insurance policy that is specially designed for drivers who have a high risk of being involved in an accident or who have a record of violations or recent claims. This type of insurance typically costs more than standard auto insurance, but it can provide coverage for drivers who may have difficulty obtaining standard auto insurance coverage. Some of the most common reasons for being labeled as a high-risk driver include having multiple violations or accidents on your driving record, having a DUI or DWI conviction, or having a lapse in coverage.
Who Needs High Risk Auto Insurance?
If you have been deemed a high-risk driver, it is important to understand how you can protect yourself and your vehicle with high-risk auto insurance. High-risk drivers may include individuals who have multiple traffic violations, those who have had a DUI or DWI conviction, or those who have had a lapse in coverage. High-risk drivers may also include individuals who have been deemed a high risk by their state’s Department of Motor Vehicles, such as those who have multiple speeding tickets or who have had their license suspended or revoked.
What Does High Risk Auto Insurance Cover?
High risk auto insurance typically provides the same coverage as a standard auto insurance policy. This includes liability coverage, which pays for damages or injuries you cause to another party in an accident. It also includes comprehensive coverage, which pays for damages to your car caused by fire, theft, or vandalism. High risk auto insurance may also provide collision coverage, which pays for repairs to your car if it is damaged in an accident.
Cost of High Risk Auto Insurance
High risk auto insurance is typically more expensive than a standard policy due to the increased risk associated with insuring a high risk driver. High risk auto insurance policies can be more expensive due to the fact that insurers must calculate the risk of insuring a high risk driver and factor in the potential for higher payouts due to an accident. In addition, high risk policies may require more frequent reviews, which can add to the cost of the policy.
How to Save Money on High Risk Auto Insurance
Although high risk auto insurance can be expensive, there are a few steps that you can take to save money on your policy. First, shop around to compare rates from different insurers. Different insurers may offer different rates depending on the risk associated with insuring a high risk driver. You can also look for discounts, such as a multi-policy discount if you have other insurance policies with the same insurer. Finally, if you have a clean driving record, you may be able to qualify for a good driver discount.
What to Look for in a High Risk Auto Insurance Policy
When shopping for a high risk auto insurance policy, it is important to compare coverage, deductibles, and discounts offered by different insurers. You should also consider the financial stability of the insurer and make sure that the insurer is licensed to do business in your state. Finally, check to see if the insurer offers any additional coverage that may be beneficial to you, such as rental car coverage or roadside assistance.
How to Find the Right High Risk Auto Insurance Policy
When looking for a high risk auto insurance policy, it is important to shop around and compare rates from different insurers. You should also consider the financial stability of the insurer, the discounts offered, and the additional coverage that may be beneficial to you. Finally, make sure that the insurer is licensed to do business in your state. By taking the time to compare different policies, you can find the right high risk auto insurance policy for your needs.
High risk auto insurance can be expensive, but it is important to have if you are a high-risk driver. Shop around to compare rates, coverage, and discounts offered by different insurers, and make sure that the insurer is licensed to do business in your state. Taking the time to find the right high risk auto insurance policy can help you save money and provide the coverage you need.