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Can High-Risk Drivers Save On Car Insurance?

April 16, 2013

high risk car insuranceHigh-risk car insurance costs more than a standard policy for a reason. Drivers who are required to seek such a policy have marks on their driving record such as multiple tickets, accidents, or major violations such as impaired driving charges. That means the insurance company sees them as a bigger liability risk than a driver with a clean record. While paying more is inevitable, that doesn’t meant there is nothing a high-risk driver can do to reduce their rates. Even drivers working to clean up their records can find a better deal.

What is High Risk Insurance?

High-risk car insurance is a policy designed to help drivers with troubled driving records re-earn their status as good drivers. You can’t do that if you aren’t on the road and you can’t be on the road without insurance.

High-risk insurance is designed for those drivers who no longer qualify for policies with regular insurance companies and may have been non-renewed or cancelled. The policies provide all of the legally required coverage to get you back on the road.

Shopping Around for High Risk Insurance

In recent years the high-risk insurance market has become more competitive, and there are more companies out there specializing in this type of policy than ever before. That is good news for those who require high-risk insurance because it means you can shop around for rates.

Shopping around for a high-risk policy is much the same as shopping for any other insurance policy; you simply need to request insurance quotes from multiple companies and compare the rates. Like with standard policies, make sure that you are getting quotes that are comparable – meaning they offer the same type of coverage. A rate can often seem lower because it is skimping on coverage, and that’s the last thing you want to do, especially as a high-risk driver.

Online quoting for high-risk insurance makes the process easier than ever before. You aren’t obligated to buy a policy just because you got a quote so get as many quotes as you can to make sure you’re getting the best available rate.

Discounts for High-Risk Drivers

Discounts aren’t solely the realm of standard insurance policies. Drivers seeking high-risk insurance can also get some money-saving discounts. It’s important to ask what kind of discounts are available to you and make sure you get everything applied appropriately. The discounts available to you may differ by company, but you may be able to get things like multi-policy discounts, safety feature discounts, security system discounts, and even good student discounts.

Not all of the discounts available on a standard policy may apply to high-risk insurance, so it’s important to ask when seeking car insurance quotes what discounts are offered by the company. Knowing ahead of time can help you choose the policy that is right for you and gives you the best rates.

Raising Deductibles

Because high-risk insurance is already more expensive, it’s important to do everything you can to bring those rates down. One of the simplest things you can do is to raise your deductible. A higher deductible means you will pay more out of pocket on a claim where you are at fault or there is a non-accident incident such as vandalism or theft.

Higher deductibles will only cost you if you actually have a claim in which you need to pay the deductible, so as long as you drive safely they will simply save you money every month. It’s a simple equation that makes a lot of sense for those who are facing high rates.

Keep Your Record Clean

The best way to bring those rates down is to keep a clean driving record. As those tickets and accidents that caused you to need high-risk insurance in the first place fall off and you continue to demonstrate that you are a safe driver, your rates will start to drop.

Good drivers get the best rates, and although high risk drivers may have so pay the higher rates for a while, each year with a clean record will bring lower rates and move you towards being able to qualify for standard policies again. Driving safely, obeying all of the rules of the road and avoiding claims will all bring you lower rates, even if you are still considered high-risk.

  • Wally

    What companies touch high risk drivers ? I am new to motorcycles and e ven though I am 50 I can’t get a quote from anyone

  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hello

    Have you checked with the insurance company who has your car and your house? Sometimes, that company will insure a motorcycle.
    If not, check with Jevco Insurance Company, Echelon General Insurance Company and TD Insurance.

    Good Luck!

  • Barb

    How long does it take to qualify for standard rates if you’re considered high-risk?

  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hello Barb,

    Qualifying for standard rates would mean that you would have to be ticket/minor conviction free for 3 years and accident/major conviction free for 6 years.

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  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hello

    You are best to check with High Risk Markets such as Easyway Insurance or Facility Association.

  • Chris

    Hi, Is there anything that can be done for a high risk driver with 3 at fault accidents in the past 6 yrs to lower insurance rates a little?

  • InsuranceHotline

    You should shop around. Not all companies have the same rules and rates.