Auto Insurance is all about mitigating risk and if you’ve become a high-risk driver then you aren’t going to be a dream candidate for any auto insurance company. High-risk drivers are those that have made some bad decisions or have had more than their fair share of bad luck. You can also be considered risky to insurance for things that aren’t necessarily bad such as owning an expensive or exotic car or living in a high-claim area. To receive the best auto insurance quote possible here are the main factors that get a driver labeled as “high-risk” and make your auto insurance cost go up:
Having at-fault claims
Lack of driving experience
Living in a high-claim area (such as an area with a lot of car theft)
Owning a rare or expensive luxury car
Each of these factors can make your rates go up dramatically and some insurance companies will simply refuse to sell you insurance or will drop you from their plans. There are a few large standard companies that offer high-risk insurance such as Geico and Progressive, and then you have specialty auto insurance plans that offer high premium plans like The General and Safe Auto.
How Much Does High-Risk Insurance Cost?
Your high-risk plan might be anywhere from $1,154 to close to $3,000 depending on the type of coverage you get. Limited liability will get you road-legal but might not be enough insurance to protect you financially in the event of an accident. If you have a car you are still making payments on then you might be forced to take out full coverage. To lower your premiums you can select a plan with less coverage (at your own risk) or one with higher deductibles.
If you can’t find a high-risk company in Dallas willing to insure you, you can turn to Texas Assigned Risk Auto Insurance from the state.
Get More Affordable Rates By Avoiding Risk
Evaluate The Situation Before Filing Collision Claims - see if paying out of pock for your repairs would be cheaper than having your premiums raised or losing your insurance. If the damages are small, this could help you avoid becoming high-risk.
Improve Your Credit - Many people don’t realize that poor credit can affect your ability to get affordable auto insurance. Insurance companies have found that people with poor credit get into more accidents and file more claims. If you can work to improve your credit score from poor to excellent you can save more than $1,500 a year on average.
Wait For Violations To Expire - If you can’t afford high-risk insurance you can limit or eliminate the need to drive while you wait for the violations to be removed from your record.
Practice Safe Driving - take a defensive driving course, watch your speed, and never drink and drive.
Finally, to get the most affordable auto insurance quotes on high-risk auto insurance in Dallas, shop around and compare prices. Contact your insurance broker to help you do a side by side comparison of several car insurance companies to find the best deal.