|While most people are aware that they are high-risk drivers, very few understand what makes them earn this title. Insurance providers often grade drivers centered on the likelihood of being involved in an auto accident for which the firm will be expected to make payments. The greater the probability, the greater threat that driver poses to an insurance company.
Different factors are used to grade drivers as high-risk and this can vary from one state to the other. Nonetheless, there are a couple of ways through which high-risk drivers can circumvent high-cost auto insurance coverage. Discussed below are tips on how to minimize your risks as well as the cost of insuring your car.
1. Shop Around
The easiest way for high-risk drivers to save on high risk auto insurance is shopping around. As an independent agent, Cliff Cottam Insurance Services can obtain many auto insurance coverage quotes on your behalf. Since there are a myriad of alternatives accessible in the high-risk driver insurance marketplace today, you have the luxury of comparing different rates and opting for the most affordable option.
Whereas high-risk auto insurance coverage is designed to cater to drivers who fail to qualify for normal car insurance rates, companies specializing in high-cost insurance still compete with one another for business.
2. Take Control Of Your Rates
Being in control of your rates can also help lower the cost of high risk car insurance. Tickets as well as accidents affect your insurance rates. Your coverage should be re-evaluated periodically to determine if the deductibles and amount of coverage should be changed. Our agent can obtain a few quotes and compare different rates at the right time to find the best plan for your personal situation.
3. Standard Insurance Companies
In due course, rates charged by ordinary insurance providers will compare to those charged by high risk auto insurance companies. Therefore, it is important to once in a while compare the rates charged by standard insurance companies with high-cost insurance providers. Since standard insurance companies insure a lot of clients, they have the ability to spread the risk allowing you to save on premiums.
4. Buy A Cheap Car
If you have been classified as a high driver, you need to consider buying a cheap car. The more expensive a car is, the more you will pay in insurance premiums.
5. Cover Less Miles In A Year
Try to keep your mileage to the minimum. Drivers who cover less than 10,000 miles in a year are more likely to qualify for reduced insurance rates. The more time you spend on the road, the more likely you are to be involved in an accident.
6. Park Your Car In A Safe Area
Burglary and accidental damages are just some of the factors that can increase your insurance premiums. Cars parked inside a garage or on a driveway are less likely to be broken into or damaged which results in a 4% to 6% decline in insurance costs.
7. Exercise Caution While Driving
Careless driving will result in additional points on your license. As a result, you will be expected to pay more in insurance premiums. Whereas points attributed to speeding tends to remain on a driver’s license for at least 4 years, insurance companies will confirm if there have been convictions in the past 5 years prior to deleting them from your record.
8. Install Security Systems In Your Car
Installing security systems, for example, car alarms and anti-lock brakes in your car can also help in lowering your risks and costs.
9. Avoid Making Changes to Your Car
Do not make changes to your car before informing your insurance provider. Modifications refer to anything that will alter the original specifications, for example, fitting allow rims.
The objective of high risk car insurance coverage is to assist you in regaining your standing as a low-risk driver thereby allowing you to be eligible for standard insurance coverage. Call a Cliff Cottam Insurance Agent today for more information or simply complete our Contact Us form and we will get right back to you! (800) 807-6871