Driving is a dangerous activity and accidents are unfortunately bound to happen. Traffic tickets and accidents come with the territory as soon as you get behind the wheel. But if you’re considered by insurance companies as a “high-risk driver,” you may have trouble finding auto insurance at an affordable price. Events like DUIs not only place restrictions on your license, but also your auto insurance policy.
Let’s take a closer look at auto insurance for high risk drivers.
What Does “High-Risk” Mean?
The term “high-risk driver” typically refers to a driver that has a bad driving record due to multiple speeding tickets or other traffic violations — such as DUIs and DWIs. Insurance companies see you as a risk in these instances, as you appear more likely to need financial assistance from them. Your insurance rates subsequently go up because the insurance company is trying to cover the risk cost of insuring you.
If I Get a Ticket Will My Insurance Rates Go Up?
Contrary to popular belief, your insurance won’t necessarily go up simply because an accident. A ticket, however, is likely to raise your insurance — as it goes on your record. Potential rate increases also depend on such influences as your insurance company and your driving record. If you have a mostly clean driving record, your insurance company may forgive you for an accident. If you already have a bad record, however, your insurance rates are more likely to go up. Speak with your Automatic Insurance agent to see what rates you might have the pay in case of an accident.
When Will I Stop Being a High-Risk Driver?
It may take 3 to 5 years of good driving for your insurance company to forgive your bad driving record. But the total amount varies per agency and per person. For example, if you have a high-risk job or an expensive sports car, you’ll remain high-risk for as long as you have that job or car.
How Much is High-Risk Auto Insurance?
Auto insurance rates vary for high-risk drivers. Rates are determined based on your individual driving record and the risk the insurance company believes you pose. Insurance for high-risk drivers can cost up to 100 percent more than auto insurance for “good drivers.” DUIs typically make your car insurance rates skyrocket with a 50 percent or more increase from your usual rate.
Finding auto insurance when you’re considered a high-risk driver is difficult, but not impossible. Contact your A-Best Insurance agent today and find out what you can do to save money and get back on the road.