If you’ve been deemed a "high-risk driver,” chances are good that you experienced a rate hike with your insurer, or maybe you were dropped completely. It can be a frustrating place to be, but there is good news. Insurance for high-risk drivers does not have to cost you an arm and a leg, and it doesn’t necessarily require that you jump through hoops to get a policy. There is hope, and we can help.
At Freedom National, we serve high-risk drivers inGeorgia,Arizona, andUtah, and we offer the protection that you need for peace of mind.
Exploring Insurance for High-Risk Drivers: Characteristics of At Risk Drivers
When it comes right down to it, insurance rates are all about statistics. The basic rule of insurance is that higher-risk drivers pay higher premiums for their coverage because they're statistically more likely to have a claim. But what are the characteristics of a high-risk driver? Some of those risk factors are readily apparent, but some of them might surprise you.
The Driver
Most of the factors that dictate risk level when it comes to car insurance are directly related to the driver. Some of the most common higher-risk categories include:
- Young drivers under the age of 25
- Drivers with a history of speeding tickets
- Drivers with one or more auto accidents
- Drivers with aDUI
- Drivers with low credit scores
As you can see, there are plenty of driver-specific risk factors that make insurance for high-risk drivers necessary. However, they are not all to do with the driver. There are other factors at play here.
At Freedom National, we believe that everyone deserves a second chance. We’re all human, and we all make mistakes. That’s one reason we offer insurance for high-risk drivers that won’t break the bank.Get a quoteinstantly with our online form.
The Car
The car being driven has a role in risk level and the cost of your insurance policy. Generally speaking, the sportier a car is, the higher its risk level. However, that doesn’t mean that only those driving a Porsche or Ferrari will have to deal with higher rates.
It’s not just cars with spoilers or big engines that raise red flags with insurers. There are plenty of other reasons a car might make your premiums jump. For instance, if a car receives poor safety ratings from crash testing, you can bet that it will cost more to insure. If a car has been deemed dangerous – such as having an increased risk of rollovers – it will also increase your premiums. Yet other factors play a role here, too. For instance, a car that is frequently targeted by thieves will cost more to insure, as will one that has a reputation for being easily damaged.
Combine a riskier car with a riskier driver and you have a recipe for high insurance costs. Of course, there are still other factors that can and do play a role in what you pay for insurance protection.
The Area
The area in which you live will play a significant role in your insurance premiums. If crime is high in your zip code, or in a nearby zip code, your insurer will charge more than if you lived in an area with less crime. Crime isn't the only factor that insurance companies consider, though. In areas that are more prone to accidents because traffic is heavier, your rate is likely to be higher. Even if neither of those factors applies, there could be other reasons why insurance premiums are high in your area.
Combine a higher risk area with a car that’s more attractive to thieves or more likely to be driven irresponsibly, plus a driver with high-risk factors and you could see a significant spike in insurance costs.
The Commute
Finally, the amount that you drive your car may have an effect on your premiums. The more you’re on the road, the greater the risk that you will be involved in an accident. Drivers who have very short commutes will typically pay less for their insurance than those who spend a great deal of time on the road. Combine a long commute with speeding tickets, or with a DUI, and car insurance can quickly become unaffordable.
As you can see from the information above, high-risk status does not necessarily only stem from having too many speeding tickets, or being a young driver. There are plenty of reasons that an insurance company might deem you riskier than other drivers.
At Freedom National, our goal is to provide affordable, high-quality car insurance to everyone, even those other insurers deem high risk.Get a quote nowto find out how much we can save you.
How Long Will You Need Insurance for High-Risk Drivers?
There is one bit of good news about insurance for high-risk drivers. That is, you won’t necessarily be high-risk forever. Over time, your risk level will drop, particularly if you are able to limit risky behavior and show that you are a safe driver. Generally, this means staying with a single insurer for a period three or more years and not getting tickets or being involved in auto accidents. As you demonstrate that you are not a risk, your insurer should begin to lower your rates.
Unfortunately, there is no "golden rule” that applies to all drivers and will tell you specifically how long you will be seen as an increased risk, as some risk factors stay relevant longer than others.
How to Reduce the Cost of Insurance for High-Risk Drivers
While you might need to purchase insurance for high-risk drivers right now, that doesn’t have to mean paying an exorbitant amount. There are ways that you can reduce your insurance costs right now, as well as while your risk level drops. At Freedom National, we want to ensure that no one pays too much for the insurance they purchase. The following suggestions can help cut your premiums.
Check All Available Discounts: Just because you're a high-risk driver doesn't mean that you don't still qualify for discounts. Many insurance companies offer discounts for things that are unrelated to your driving history, such as paying your policy in full or having prior coverage. Contact your insurance company to make sure that you're getting every discount that you're eligible for.
Get a New Car: Yes, we know that trading in your car and buying a new one may not be the right option for everyone, but it could be something to consider, particularly if you are one of those drivers combining personal risk levels with a higher-risk car. Whether your car is unsafe, is highly targeted by thieves, or is a sports car, you can reduce your insurance costs by getting into a lower-risk car.
Be Patient: Generally speaking, it takes roughly three years for a speeding ticket and other moving violations to "fall off” your record. That doesn’t mean they are removed from your driving record, but insurance companies typically won't rate them anymore. Be patient. Show that you’re a safe driver by following the traffic laws and your costs will eventually come down.
Go Accident Free: Drivers with an accident or two under their belts are definitely deemed higher risk than those with few or no accidents to their name. Go for three years without an auto accident and you may be eligible for a discounted rate.
Why Freedom National?
At Freedom National, our goal is to provide high-quality and cheap car insurance to everyone. We offer insurance for high-risk drivers with speeding tickets and other moving violations, accidents, and even DUI infractions. We invite you to use our convenient online form toget a quote instantly. You will be surprised at just how much you can save on insurance for high-risk drivers with us.
