|
Most drivers aren’t bad, but in the
eyes of insurance companies their record may classify
them as high risk. Auto insurance for high-risk drivers
can be difficult and expensive. Understanding how
insurance companies set rates can improve yours.
Traffic Tickets... At-Fault Accidents…. NSF
Problems...Coverage Gaps /Spotty History
All of the above will land you in High Risk Insurance
Why?
For every speeding ticket you get, your chances of being
involved in a car accident rise by 100%, multi-vehicle
accidents (even if not-at-fault) can suggest a reckless
pattern.
Who are you & where do you live?
All companies rate by area, male/female, age, and years
licensed based on the statistics of claims they pay
out.
Continuous Coverage
If cancelled for non-payment then a space of time with
no insurance, insurance companies may assume you have
driven without insurance, e.g. dropping you to a low
1-year rating.
Clearing Your Record – Have Patience
Payment problems & Traffic Tickets cause high rates &
stay on your record for 3 years.
License Suspensions affect your rates for 6 years.
Accidents & All Claims are rated for 6 years with most
companies (some give their best rates at 10 years clear
of at-fault accidents)
Cutting the Cost:
Getting out of the high-risk category takes time &
changes in behaviour. Tickets & payment problems will
fade with time, accidents with more time.
What do you drive?
In the meantime, consider an older car until your
record improves (drop the Collision & Comprehensive
coverage’s if no financing on the car). Alternatively
try taking fire & theft instead of comprehensive
(see our auto section for a description of the
difference), or look at increasing your deductibles.
At Utter/Morris, besides expensive Facility rates for
the very worst drivers, we have some semi-high risk
companies, which may suit your record. Once getting
clear of your past, we will follow-up until you reach a
level of preferred good driver rates.
Now the market will open up for you. The choices of
companies will widen to include regular market companies
and your options improve. For example by following our
advice, you may qualify for Conviction-free or Good
Driver Discounts, Forgiveness of 1 at-fault accident or
a minor conviction and discounts available with property
coverage’s.
GET A QUOTE
|
