Don’t spend time with a lot of lower risk carriers such as State Farm, Farmers, and Allstate. They typically do not want high risk business. your best bet is with the smaller regional carrier, or broker who can shop several insurance companies. Get rates at the top in the beige zip code box.
Another tip,you don’t have to change insurance carriers right away after you get multiple tickets. It’s their responsibility to check your driving records, usually at renewal. It might be in your policy, but you don’t have to report tickets to your car insurance company. Tickets are quite different than insurance claims, which should be reported to protect you.
My personal story
In my younger days, I was carefree and in a hurry to go everywhere. back in Maryland, I cultivated quite a driving record. And at fault accident, and multiple speeding tickets. I drove quite a bit, and a car or truck and the the world’s fastest production motorcycle at the time, the Yamaha Vmax. Too many horses for me at the time.
I actually met with an official at the Maryland DMV, or we discussed me losing my license. Is it my fault I was a traffic cop magnet? Actually yes, on a bike that was louder than a Harley, and quicker off the line than most sport bikes.
Because of multicar discounts, my car insurance was not that high, and my vehicles were older models. now I’m wised up, cleaned up my record, shopped around and actually pay less now, with the same number of vehicles: a car truck and van. And with most states erasing a ticket after 3 to 5 years, that’s a relatively short window in the grand scheme of things.
The exception is DUI. They easiest on your driving record for 10 years. It really does not pay to drink and drive.
About high risk drivers
Like I was, you may be labeled a non-standard driver and be charged higher auto insurance rates, but really are not much riskier than others. You may have this label with only one speeding ticket (going way over the limit) or if you have moved and your insurance carrier has had higher losses in your new location.
According to A.M. Best & Co., non-standard auto represents $20 billion or over 15% of the nation’s $100 billion personal auto insurance market.
Last year, non-standard auto premiums rose an average of 10 percent, twice the rate of the standard market.
You may be considered high(er) risk if you (have):
- Any juveniles on your policy
- Another driver with violations, suspensions or accidents on your policy
- Live in an area the insurer had increased losses, accidents and/or repair costs
- Add another vehicle to the policy
- Bad or no credit history
- Are single or divorced
- Use your vehicle commercially
- Any DUIs or DWIs in the last 5-10 years
- Have your license been suspended or revoked in the last 5 years
- Have moving violations in the last 3-4 years
- At fault accidents in the last 4 years
- Points or fines in the last 4 years
- A HS diploma or GED
- Are in a high risk occupation
If you are considered a substandard risk driver
Find out why. This could include contacting:
- Your car insurance agent
- Your car insurance carrier
- Various credit reporting agencies(if your state allows credit scoring)
- The DMV for a copy of your driving record
Once you’ve isolated the problem you can begin to fix your credit, correct any error on your driving record, or problems you have with the insurance carrier. Don’t keep paying any erroneous surcharges, I have heard of insurers not wanting to refund the difference or even correct obvious errors. It’s better to fix any issues right away since you are paying anyway. Contact me if you are being classified as a high risk driver, maybe we can give you some marginal (non legal) insurance advice.