What is the Best Auto Insurance Recommendation For High Risk Drivers?

If you’re a young or very old driver, had too many tickets or accidents, drive a car that is a favorite of thieves, live in an area with high crime rates, have bad credit (at some companies) or went without car insurance for period, the insurance companies only offer high risk car insurance to you. The insurance rates for this type of coverage frequently compete with the car payment for the most out of your pocket every month.

There are ways to reduce the cost for high risk drivers and get cheap car insurance.

1. Look for discounts. Young high risk drivers often reduce their rates with a good student discount and a driver’s education discount. Those with muscle cars or targets for thieves need to install a car alarm or antitheft device. Some companies offer senior discounts, other companies charge more for the elderly, find out which type of company you have. See if the company offers a multi-car discount.

2. Consider switching to a more low profile car that thieves don’t steal as frequently.

3. Build a garage. Cars parked on the street are higher risk for both collision and theft.

4. Work on your record. Check for any unpaid tickets; take driving classes if they reduce the points on your license. Ask your agent if there are additional ways to move into the lower cost car insurance.

5. Purchase both your auto insurance and homeowners through the same company and get a discount on your high risk car insurance.

6. Eliminate comp and collision. If you paid off your car, you have the option to remove those coverages. See whether the cost of the car, minus your deductible is close to the amount you pay on an annual basis. You might also consider dropping it if two years of payments equal the value of your car less the deductible.

7. Compare rates. Companies set their rates by the loss ratio they experienced in a particular area, with the profile of a driver and type of car. Not all companies have the same losses, so not all companies have the same rates.

It pays to shop around to find cheap insurance. Most of the time, it’s simpler to find quotes online from sites that carry the products of many companies. Filling out the quote form two or three times is a lot easier than calling every agent in your city.

Whatever you do, don’t settle for less liability coverage if you want cheap insurance. Many times, high risk drivers attempt to reduce the cost of their policy by only carrying the state minimums. These coverage frequently max out at $40,000 to $50000 bodily injury per accident, even if more three or four are injured. This is barely enough to pay for the medical bills of a serious injury to one person, let alone three or four. The biggest savings for high risk car insurance always comes from comparing insurance rates and not downgrading the policy.