Auto Insurance High Risk

The insurance world is all about risk, as companies have to measure risk and drivers have to pay prices according to that measured risk. One of the biggest challenges can be finding auto insurance for high risk drivers. High risk drivers are defined as people who have accumulated a number of traffic tickets, accidents, or a single DUI charge. With those items on your record, you will find that insurance companies aren’t nearly as kind, and your rates reflect this. Still, there is auto insurance for high risk drivers and if you look hard enough, you can find decent rates.

Avoiding SR-22 insurance
One of the most common types of auto insurance for high risk drivers is SR-22 coverage. This is what convicted drunk drivers are forced to pay for over a five year period, and insurance companies will try to slap this distinction on other high risk drivers, too. Once you accumulate more than three or four tickets and accidents, some companies might tell you that SR-22 is all they can provide. Don’t fall into this trap, though. Unless you have a DUI on your record, you don’t need to get SR-22 coverage. Better plans exist if you’ll shop hard for them.

Gauging the virtues of bare coverage
Some companies out there, like Safe Auto, offer customers the ability to pay for just a bit of insurance. Essentially, you are getting legal coverage, but not paying for anything else. This will generally include liability insurance in the case of an accident, but the protections for your own property will be severely limited. Driving with this kind of insurance is a risky move, as it means you will be in a world of financial trouble if you get into a wreck. Still, it can make sense for those drivers who are forced to pay $3,000 or $4,000 per year for high insurance. This is a sure, low cost auto insurance for high risk drivers.

Consulting specialty companies
As you have probably discovered, not all insurance companies are the same. Some of them work with classic cars, some seek to insure young drivers. Others specialize in offering auto insurance for high risk drivers. Auto insurance companies like State Farm have programs that allow high risk drivers to improve their record and bring down their rates. This is something that you need to be looking for, as it can save you money over the long haul. These programs seek to reward drivers for getting better and becoming more responsible on the road. They don’t lock you into rates over a two or three year period, which can be very helpful.

Auto insurance for high risk drivers is going to be more expensive. This is something to plan for, but that does not mean you need to resign yourself to overly high prices. With programs like the one State Farm offers, you can work your way back into reasonable rates. Additionally, you have some bare bones coverage options if you’re set on saving money right now.