How to Get Affordable Car Insurance for High-Risk Drivers?

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high risk car insurance

Reports show that young drives pay more than double the national average in car insurance. 

The reason for this is that young drivers are considered high-risk by insurance carriers. Besides a tender age, there are a number of other factors that can cause you to pay high-risk car insurance. These include traffic infractions, the car you drive, and even your credit score. 

However, if you are having to fork out for high-risk auto insurance, we have some good news for you. There are ways to access affordable car insurance for high-risk drivers. And, we are about to share these with you. 

Read on to discover how to find cheap car insurance for high-risk drivers, as well as how to bring your premiums down over time with some smart hacks. 

Care for Your Credit Score

According to the FICO, approximately 95% of insurance carriers factor in consumers’ credit history to determine premiums. 

If your credit score is good, this will usually garner you a better rate with your insurance provider. If your score is low, this shows that you are more of a “high-risk customer,” and you will be likely to pay high-risk auto insurance rates. 

If you are looking to find affordable car insurance for high-risk drivers, then one of the first things you should do is see whether there is anything you can do to improve your credit score within a short space of time. 

For example, you could choose to increase your credit limit while reducing your debt. You should also draw your report from the three main reporting bureaus (Equifax, Experian, and TransUnion), compare them, and get any errors or discrepancies corrected. 

Complete a Defensive Driving Course

If you are young or have only recently started driving, this will put you in the high-risk driver insurance camp. 

One way to combat this is to take a defensive driving course. This may lower your premiums with some insurance providers. 

Are you a teen? Or a parent paying for a teen’s high-risk auto insurance? If so, go and check out this post on tips for saving money on car insurance for teens. 

Be Careful of Collision Claims

The whole point of taking out insurance is so that you can claim in the event of a collision. However, taking out a collision claim is not always in your best interest as far as your premiums are concerned.

A collision claim will almost always raise your premium, as it indicates to insurers that you may need high-risk driver insurance. 

Therefore, think carefully before lodging a collision claim. 

The first thing to do is to get an estimate from a local repair company for what it will cost to cover the damages out-of-pocket. 

The next step is to estimate whether paying for the damage yourself will be cheaper than any rate increases you are likely to experience plus your deductible.

According to reports, some providers increase your rate by up to 16.66% after a not-at-fault accident. At-fault accidents are estimated to incur an average rate increase of 31%. 

Take note that not all insurance carriers will hike your rates after a claim for a not-at-fault accident. 

Invest in a Safe Car

Happen to be buying a car that you need to take out coverage for, and want to increase your chance of securing cheap high-risk car insurance? 

If so, make the safety rating of your new car a priority. Insurance carriers tend to place more weight on your driving record than on vehicle safety ratings. However, if you are trying to find affordable car insurance for high-risk drivers, it won’t hurt to invest in a vehicle with a high safety rating.

Don’t Let Your Coverage Lapse

Another factor that can push you premiums into high-risk car insurance territory is lapses in coverage. 

If you let your vehicle coverage lapse, many insurance carriers take this as a sign that you are a risky client. Given that failing to maintain coverage for your vehicle is illegal in almost all states, lapses in coverage indicate that you may be an irresponsible vehicle owner. 

Sources state that, on average, insurance premiums rise by 5.7% after a policy lapse. If you own more than one vehicle, premiums can rise by 12% or more. While it might seem like you are saving money by skipping a month or two of premiums, this is not the case. 

Therefore, to maximize your chances of securing affordable car insurance for high-risk drivers, be sure to pay your premiums on time. 

Shop Around

Once you have done everything in your power to reduce your risk to insurance companies, the next step is to compare your options. 

Affordable car insurance for high-risk drivers is out there, providing that you are prepared to shop around. Insurance solutions can vary widely from one provider and package to another, so it pays to take the time to hunt down the best rates. 

Besides looking for a stand-alone package for cheap car insurance for high-risk drivers, you should also take a look at bundled insurance. Bundled insurance means taking out policies for both your home and your vehicle from the same provider. 

If you are interested in a bundled policy deal, a great place to start is through our instant auto and home quotes. Simply fill in your details, and you will receive immediate offers from our network of vetted providers. 

Ask for Discounts

Lastly, when on the hunt for cheap high-risk car insurance—don’t forget to ask for discounts. Many people do not know that one can ask an insurance carrier for a discount. However, most insurance providers offer a wide range of discounts.

These are usually based on things like equipment installed in your vehicle, your customer loyalty, and your driving record. Of course, if you already need to pay for high-risk driver insurance, then your driving history is not likely to garner you any discounts.

However, it won’t do any harm to request that all possible discounts be applied to you to ensure that none for which you might be eligible fall through the cracks.

Are You on the Hunt for Affordable Car Insurance for High-Risk Drivers?

If you are seeking affordable car insurance for high-risk drivers, you have come to the right place. 

Comparison shopping for insurance can take a lot of time, which is why we have created an instant quotation process. Simply fill out your details, and we will provide you with the most competitive quotations from our network of approved insurance carriers. 

Get your online quotes today, and take the work out of insurance shopping. If you have any questions, phone us, or enter your phone number and query in the chatbox, and we will send you a message.

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