If you’ve been in multiple car accidents and were at fault for them, you may be aware of how much your insurance bill can go up after an incident like that. Even worse, if you have a DUI, your bill will spike dramatically. In fact, it may be difficult for any car insurance company to insure you at a reasonable price if you are considered a high-risk driver, meaning you are more likely to be involved in a car accident or other risky situation.
However, it’s not impossible to find an insurance policy at a good price even if you are considered a high-risk driver. First, you need to remember that you don’t have to stay with the same car insurance company after the prices rise due to a car accident. Every insurance provider will respond to an accident differently, and either raise prices more or less, or give you an alternative. It’s best to shop around to find out what policies are right for you, in addition to which ones you can afford. It doesn’t hurt to compare policies and prices and find a company that will protect you while keeping its rate to a reasonable level.
You are considered a high-risk driver if you:
● Recently acquired a license -- new drivers are always considered risky because they have no history at all. Thus car insurance companies have no clue if they are safe drivers, and have to provide as much protection as possible to both the insured and those on the road
● Are a Young/Teen driver -- because most young and teenage drivers are new drivers, car insurance companies consider them to be higher risk than more experienced drivers
● Are an elderly driver
● Have no previous car insurance
● Have poor credit history
● Live in an area that has a higher rate of accidents, DUIs, or other high-risk situations
● Have multiple car accidents
● Have multiple traffic violations, such as speeding tickets
It is always good to talk to an insurance agent who can find out more about your options and get you the best rates even if you are considered a high-risk driver. Always get the best coverage you can afford in case of an accident that you may not have the finances to cover if your policy doesn’t cover you. It is always better to be on the safe side, and protect yourself as much as possible.