If you find yourself unable to obtain auto insurance, then do no worry. There are many high risk car insurance options but do not delay in finding adequate coverage. What will you do if you are involved in an accident, or pulled over for a traffic violation with no insurance? It is illegal to drive without the minimum insurance coverage in this country, but some people find it difficult to get the coverage they need.
There are many reasons why an insurance company could refuse to offer you coverage:
– You live in a high crime area where vehicles are commonly vandalized and stolen.
– You have a special, high-performance vehicle.
– You have a poor driving record.
– You are not an experienced driver or you have no prior record of insurance coverage.
Risk Pool Auto Coverage
Luckily, you do have options if you can’t find a company to provide you with the minimum coverage required by law. Your first option is to join what is known as a state assigned risk pool. This system is made of insurance companies that participate voluntarily and must agree to accept the drivers they are assigned keeping any profit and absorbing any loss that comes with serving a particular driver. You will pay much higher premiums than you would if you had a policy with a traditional insurance company, but it’s a much better option to not having adequate coverage.
High Risk Car Insurance Policies
Another option drivers having difficulty finding insurance coverage may have is to contact a private insurance company that specializes in providing coverage to drivers considered high-risk. You could save money by searching for a private insurance company that offers non-standard policies instead of choosing risk pool coverage. Many of these companies will provide insurance policies for people with multiple accidents, traffic violations, or high-performance cars.
You can also obtain more comprehensive coverage by going through a traditional insurance company than you can through an assigned risk pool. A high-risk driver is the perfect candidate for an umbrella policy as additional coverage against any lawsuits that may result from a car accident. Most insurance companies advise that you have at least $250,000 on your basic auto policy before they allow you to purchase additional coverage such as an umbrella liability policy.
Insuring Your Teen Driver
Young drivers between the ages of 15 to 21 are considered high risk. If you have a teen in your home that is ready to start driving, make sure to contact your insurance agent or company immediately to have them added to your policy. In many states, teen drivers receive discounts for attending driver’s education or other safety driving classes. They may even be eligible to receive a discount for keeping a “B” or higher grades consistently.
Correct Your High Risk Driving Habits
It takes time to rebuild your driving reputation once you have been labeled high-risk. Here are a few tips that may help:
– Avoid driving when you don’t need to. Remember, the more you are on the road the more likely it becomes that you could be involved in an accident. Limit most of your driving to doing so only when necessary.
– Pay attention to the road. Avoid distractions while driving like talking on your cell phone, eating and drinking. Fender benders caused by distractions like these will wind up increasing your premiums significantly.
– Avoid drinking and driving at all times. A DUI can end your driving privileges and land you in a lot of legal hot water.
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