1. High-Risk Car Insurance Primer
High-risk drivers usually have to put up with more difficulties and frequent higher prices in car insurance. High-risk status may be given out due to accident history, traffic violations, or even poor credit score. Nevertheless, your high-risk status just doesn't mean you fail to find reliable and affordable car insurance.
2. Who Counts as a High-Risk Driver?
Multiple Traffic Violations: Speeding tickets, reckless driving, or repeated traffic infractions. Young or New Drivers: Inexperience can make young drivers, especially those under 25 years old, fall under the category of high-risk. Lapsed Insurance Coverage:
3. Best Insurance Providers for High-Risk Drivers a. Progressive Progressive is known to provide the largest flexibility for high-risk drivers and generally has competitive prices. b. GEICO
Among the most affordable is GEICO, even for high-risk drivers.
c. The General The General insures many high-risk drivers and is known for their flexible policies, which satisfy state minimums at an affordable rate. d. State Farm
Although State Farm does have a tendency to target low-risk drivers, it does have competitive pricing and enough discounts that allow high-risk drivers to see considerable savings.
e. Nationwide
Pros: Has the SmartRide program that allows drivers to earn discounts based on their safe driving behavior.
4. Types of Coverage Available to High-Risk Drivers
Liability Insurance: covers bodily injury and property damage that, by law, drivers are found liable for. Nearly all states in the US require minimum liability insurance.
Collision Coverage: Covers the damage of one's own vehicle in an accident, regardless of fault.
5. Lowering Insurance Costs for a High-Risk Driver
a. Joining Safe Driving Programs
b. Attending Defensive Driving Courses
c. Increasing the Deductible
6. State Programs for High-Risk Drivers
California's Low Cost Auto Insurance Program - CLCA: Provides low-income high-risk drivers with affordable options for liability insurance.
Maryland Auto Insurance: This is a state-funded option intended to sell coverage to drivers that have been rejected by other insurers.
Assigned Risk Pools: Many states have so-called assigned risk pools where the riskier drivers can get insurance.
8. Importance of Shopping Around for High-Risk Car Insurance
Since high-risk driver insurance rates vary significantly with each provider, shopping around is must-do. Many insurers offer high-risk policies and may have quite competitive rates in comparison with common companies.
9. When Can You Expect to Move Out of High-Risk Status?
High-risk status is not permanent. With time, every high-risk driver earns the right to improve his/her record and lower the premiums to a reasonable amount. Here's how:
What is the cheapest insurance for high-risk drivers? Progressive, GEICO, and The General tend to be the most affordable option for high-risk drivers, but costs vary depending on several personal circumstances.
How long do I remain a considered risk? Most high-risk factors affect your rate for three to five years, although cleaning your record will mean lower rates over time.
