Insurance For High-risk Drivers – Drivers in the high-risk category often seek car insurance due to factors such as speeding tickets, accident records, or DUI convictions. But it’s more than these obvious indicators that you can fall into the high-risk category. Age, credit history, and other factors can also make you more risky to insure, making your search for high-risk auto insurance companies even more important.
However, nonstandard insurance companies specialize in insuring high-risk drivers. They offer policies tailored to accommodate high-risk situations, offering coverage at competitive rates.
Insurance For High-risk Drivers
High-risk drivers can find themselves navigating the challenges of car insurance rates. The increased liability incurred by insurance companies translates into higher premiums. Here’s a snapshot of average monthly quotes from various insurance companies for high-risk coverage. You’ll see several quotes, starting at just $71.
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Disclaimer: Tabular data taken from real-time quotes from 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer’s unique driver profile.
High risk auto insurance companies do not have an industry standard definition of a high risk driver. They usually include a poor driving record, low credit score, or lack of experience. It can also be safer to insure if you have insurance violations or delinquencies due to non-payment, live in an area with a high rate of theft and vandalism, or own a custom or high-performance car.
If you need a high-risk policy, finding a high-risk auto insurance company is important. Here are some of the best car insurance companies that cover drivers with a spotty history.
National General became part of Allstate in 2021. It has an A + (Superior) rating from A.M. Best for financial stability, offers as many discounts as you want, and pays small claims within 48 hours.
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It is a nonstandard car insurance company that provides the SR-22 form – a requirement for some drivers with serious infractions. In addition, General National offers a telematics program that rewards safe driving with lower rates, making it a great option for high-risk drivers working to improve their records.
While GEICO is usually a standard insurance company, it also provides coverage for high-risk drivers, making it a versatile option. GEICO has superior financial stability and is among the top 5% of property and casualty companies that earn an A++ from A.M. the best JD Power also ranks above average for customer satisfaction in claims handling, according to a 2022 study.
Offers competitive rates and can file SR-22 or FR-44 certificates, if needed. You’ll also find a variety of discounts to help lower your premiums, including a 23% discount if your car has airbags and additional savings if you take a defensive driving course.
American Family is a great choice for high-risk auto insurance because it offers a variety of coverage options and discounts. You can customize your policy to suit your needs, giving you more control over what you pay.
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The company has an A (Excellent) rating from A.M. At best, it shows a solid financial position. In addition, JD Power ranked American Family as the top midsize insurance company in 2021 for customer satisfaction in the shopping experience. However, it has a smaller footprint. American Family car insurance is only available in 19 states.
Dairyland offers low down payments and flexible payment options for budget-conscious drivers. Offers SR-22 and non-owner coverage, catering to drivers who need proof of insurance or who don’t own a vehicle but still drive.
You can choose from a variety of customization options, such as basic liability, comprehensive and collision coverage, personal injury protection, auto insurance, and even SR-22 coverage. Dairyland has an A+ rating from A.M. At best, it shows long-term stability.
If you have a driving violation or your insurance is lapsed or expired, you can turn to General for non-standard car insurance. It has an A- rating from A.M. Best and available in 46 states plus Washington, D.C., making it a great choice for drivers in most locations.
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Most offer SR-22 insurance and can even file a certificate for you. It has limited discounts, but you’ll have a chance to save if you pay for a full policy, take a driving training course, or get good credit.
We use a multi-faceted approach to determine which high-risk auto insurance companies to feature on this list. We first rely on trusted industry evaluators, like A.M. Best and J.D. Power, for an external third-party rating, which gives us valuable insight into the financial strength, customer service, and claims handling of each company.
We then apply a proprietary rating system, the Quality Score (IQ), to evaluate companies on various parameters, such as policy prices, user ratings, and claims satisfaction. We also examine the discounts offered by each insurance company, considering their impact on affordability for high-risk policyholders. The goal is to conduct a comprehensive assessment that focuses on policy cost-effectiveness, overall customer experience, and insurance company stability.
Insurers consider various factors when determining car insurance quotes. These factors help them assess the risk of issuing an insurance policy and ultimately affect how much you pay.
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In general, younger drivers, especially teenagers and those younger than 25, face higher premiums due to their lack of driving experience. They’re also more likely to engage in risky behavior behind the wheel — 43% of U.S. high school students don’t wear seat belts regularly, and 39% have texted or emailed while driving, according to the CDC.
As you mature and gain more experience, you’ll see rates drop. Mature drivers with a track record of responsible driving often have the lowest premiums.
Car insurance companies carefully review your past driving behavior to assess your risk of insuring you. A history of accidents, traffic violations, and insurance claims indicates a higher likelihood of future occurrences, resulting in higher premiums.
Your car’s make, model, age, and safety features affect your rate. You will usually get a higher quote if your vehicle has higher horsepower or expensive repair costs. Choosing a car with safety features – such as antilock brakes, airbags, and advanced driver assistance systems – can get you discounts or lower premiums.
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Your location, right down to your zip code, factors into your car insurance bill. “If a ZIP code has been known to have a lot of claims paid, it may result in higher rates,” said Zachery McGivens, a licensed insurance agent with SelectQuote. Population density, traffic congestion, and frequency of accidents can also affect your premium. Crime rates, including vandalism and car theft, also have an impact.
“High-risk drivers may not realize that they have the same insurance score as their credit score,” McGivens said. The company is used as an indicator of responsibility and financial stability. Because a high credit score generally means lower risk, you can pay less if your credit is in the “good” or “excellent” range.
However, it is not valid everywhere. Some states — California, Hawaii, Maryland, Michigan, Massachusetts, Oregon, Utah, and Washington — prohibit or restrict companies from using consumers’ credit history when setting premiums or renewing policies.
Finding lower car insurance rates when you are in the high risk category is no walk in the park. Exploring some strategies and taking proactive steps can help keep costs down without sacrificing the coverage you need.
Who Is Considered A High Risk Driver?
One of the most effective ways to lower your car insurance bill as a high-risk driver is to improve your driving record. Start by obeying traffic rules, practicing safe driving habits, and avoiding accidents. Some companies offer good driving discounts, even for high-risk policies. Over time, your driving history will improve, and you will see cheaper coverage options.
Taking a defensive driving course can show your insurance company that you are working to improve your driving skills. Your insurance company may offer a discount for taking a defensive driving course, which can result in lower premiums.
Take a close look at your current insurance coverage to re-evaluate the details of your policy. You may find an opportunity to save money without compromising the protection you need. Consider your policy limits first. You don’t want to drop coverage entirely, but you can talk to your insurance company to find out what options are available for your specific situation.
Also, see what extras you can pay for. For example, if you have roadside assistance through your car warranty, car club membership, or credit card, you may want to drop it from your auto policy to reduce costs.
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Bundling is a tried and true way to lower your overall insurance costs. Buying home or renter’s insurance from the same company as your car insurance can unlock bundling discounts. Make sure you compare rates and coverage to make sure you’re getting the best deal.
The deductible is the amount of money you agree to pay for the cost of repairs when you file a claim. Typically, the higher your deductible, the lower your premium. However, it is important to find a balance and choose a deductible you can comfortably afford if you need to make a claim. Setting it too high can cause financial strain in the event of an accident.
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