Anyone operating a motor vehicle is required by law to have adequate insurance coverage. For drivers with less than stellar driving records, however, this necessity can be extremely expensive. This is because insurance companies charge more to those who prove to be more of a risk to provide coverage for. If you’ve received a lot of tickets for traffic violations, been in several accidents, or have been charged with a DUI, unfortunately, the odds are stacked against you.
High-Risk Drivers
Though car insurance coverage is financial protection for drivers in the event of an accident, insurance companies lose money every time they have to issue payment for a claim. For this reason, they go through a lot of checks and balances to determine how much you’ll be required to pay for a policy. One of the factors used to determine your eligibility and cost for an insurance policy is your driving record. When motor vehicle reports are pulled under your driver’s license, if insurance companies see a lot of violations, you’re considered a high-risk driver.
Finding Affordable Coverage
If you’ve been in an accident over the past 3 years, gotten tickets for speeding, or got in trouble with the law for driving under the influence, getting insurance coverage is not only difficult but expensive. You may be wondering where to get cheap SR22 insurance or affordable rates despite your poor driving record. Though it can take some time, there are policies available that provide the protection you need without breaking the bank. Here are some quick tips to finding such policies listed below:
- Shop Around – Though it may seem like you’ll never find affordable insurance for high-risk drivers, it’s out there. With that in mind, don’t accept the first offer you receive. Instead, use car insurance comparison sites to locate the most affordable rates. Compare at least 3 companies before making a final decision.
- Bundle – Most insurance companies provide coverage for more than just your car. They also provide property insurance, life insurance, as well as coverage for other vehicles like boats and motorcycles. The more things you insure under one company, the more money you can save. Ask about package deals to bundle your insurance coverage and save big.
- Check with Your Local Government – For drivers that cannot obtain insurance through traditional methods, the local government has an option you can take advantage of. Assigned risk insurance is essentially insurance coverage provided by a company that has been mandated to do so under state law. Contact your local motor vehicle department to find out how to get one of these assigned plans.
- Pay for 6 months to a year – Most insurance companies will provide discounts to their customers who are willing to pay for their policies in advance. You could save several hundred bucks by simply paying for a 6-12 month policy in advance.
- Get Liability Insurance – While having collision and comprehensive car insurance coverage provides you with the most financial protection, it may not be easy to obtain or affordable due to your driving history. As such, you may want to consider getting a basic liability insurance policy. Insurance companies won’t be on the hook to cover as many of the costs associated with getting in an accident. Be that as it may, if you obtain this type of insurance, you’ll want to be extremely careful on the road to avoid getting hit with a ton of out of pocket expenses.
- Wait it Out – Though not driving for a while or having to pay high premiums for high-risk insurance might be a bit inconvenient, it may be the only way for you to obtain affordable insurance in the long run. Waiting a few months to a year before applying without getting any more tickets or hits on your driving record will increase your chances of being approved for an affordable policy.
Whether you know it or not, having a bad driving record isn’t uncommon. Obeying all the rules of the road every time you get behind the wheel isn’t always easy or possible. If you’ve had a few years filled with accidents, tickets, or other driving violations, finding affordable insurance coverage may take a bit more digging. Be that as it may, going without insurance puts you at risk leaving you on the hook for thousands of dollars and legal troubles should you get in an accident. So, do your due diligence and utilize the above-advised tips to find high-risk insurance coverage that fits your budget.
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