Managing High Risk Auto Insurance

Umbrella SafetyAuto insurance prices can elevate quickly once insurers consider a driver a high risk.  Some of the factors leading to being a high risk driver could be lack of driving experience, major violations such as driving under the influence or more than 1 traffic violation.  The penalties will vary based on the severity of the violation as well as the state the offense was created in.  As a driver becomes a high risk premiums can quickly go up 20% or even more.  What things can a high risk driver do to manage the increase in insurance cost?  A few key areas to focus on is work with a high risk insurer, consider a non owners policy and understanding how the timing will work for your violations.

How to Find a High Risk Insurer

It will become obvious that all insurers will not view a high risk driver the same way.   Each insurer will use a different score for each type of violation and the pricing you will see will vary considerably.  Since each state is regulated differently there also will likely be differences from one state to another state.  A good place to focus on is insurers who underwrite a high amount of high risk insurance.  Another common name for high risk insurance to watch for is non standard insurance.  A good place to start is working with an internet site that provides multiple quotes.  The more active high risk companies will show up in the companies providing lower insurance prices.  Going to a couple of different sites will help provide a good amount of exposure to companies willing to work with high risk drivers.  One company non standard drivers should get a quote from is Infinity insurance.  About 90% of the business from Infinity comes from non standard insurance and there is a good likelihood you will see competitive pricing.

Use a Non Owners Policy

One way to manage the increase in cost of high risk insurance is to look at using a non owner’s insurance policy.  For car owners who need to file an SR 22 a non owner’s insurance policy it will offer some benefits.  Obviously this policy will mean not using your car and may not be the best solution for everyone.  For those who can get by for a period of time without a car a non owners policy will help lower insurance cost.   A non owner policy maintains liability coverage to meet SR22 requirements until your license is restored.  In addition, the coverage will allow you to maintain continuous car coverage, which will help keep prices down for when an owner’s policy is started.  Extra cost savings will be obtained by using less gas and avoiding trips to the mechanic.

How Timing Impacts High Risk Insurance

All violations that lead to be considered a high risk will stay on your driving record for a period of time.  Minor infractions like a speeding ticket may stay on your record for 3 years while a major infraction such as driving under the influence could stay on your record for 10 years.  Each state may have differences to the timing so it is beneficial to check in to how long your violations will stay on your driving record.  This is extremely important as once these violations are removed you may no longer be considered a high risk.  Changing from a non standard risk to a standard risk will be a big help in dropping the cost of your insurance.  Along with managing the high risk insurance it is also wise to always look for discounts and tips to save money.  Visit our good car saving strategies to learn more.


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