How Much Is Auto Insurance for High Risk Drivers?

Lady in car ticketed by officer
Auto insurance for higher risk drivers is typically more expensive than the average policy. When coverage providers sell an insurance policy, they run the chance of having to pay out a claim. As a result, individuals who demonstrate a greater chance of being involved in an accident are commonly charged more for auto protection.

After rating vehicle owners, companies will generally place drivers into one of three groups: the preferred market for the motorist with the exceptional driving record; the standard market for the average vehicle owner; and the nonstandard market for individuals who pose the greatest risk. A motorist with an especially long history of claims, however, may be refused coverage entirely.

If vehicle owners are unable to find an insurer willing to provide auto protection, they may be able to rely on governmental services. In many states, motorists can seek the assistance of special programs designed to find adequate coverage for higher risk drivers who have been unsuccessful through traditional means. In these programs, motorists are usually assigned insurers and are not given the opportunity to explore their options. Consequently, these plans almost always cost more than the average policy.

There are some people who are automatically placed in the nonstandard market without even having the opportunity to file a claim. Young and inexperienced motorists, for example, are considered to be a greater danger because of their general lack of experience behind the wheel, in addition to poor accident statistics. The Centers for Disease Control and Prevention estimates that people between the ages of 15 and 24 account for roughly 30 percent of all accident costs among males and 28 percent of accident costs among females despite representing only 14 percent of the US population.

When wondering how much is car insurance going to cost for riskier vehicle owners, it’s important for motorists to remember that insurers interpret dangers differently. While one company may consider someone to be an economical hazard, another may be able to provide adequately priced auto protection. To find a willing insurer, drivers should shop around for the lowest rates. To do this efficiently, individuals can compare their options online, where dozens of estimates can be viewed at once from the same website.
Risk assessment chart
Almost every vehicle owner in the nonstandard market has the opportunity to find cheaper automobile insurance. Unless under special circumstances, accident claims and moving violations only remain on a person’s driving record for three years. Practicing safe habits behind the wheel during this time and avoiding future incidents can help motorists eventually leave the higher risk group to find more affordable auto protection.