Cheap auto insurance for high-risk drivers

The cheapest car insurance for high-risk drivers

Car insurance companies typically charge higher premiums to drivers they consider high-risk — think speeding tickets, at-fault accidents, DUIs, lapses in coverage or just being a new, young driver. That’s because these factors statistically make a driver more likely to file a claim, which makes insurers nervous. As a result, rates tend to climb.

While the average cost of full coverage car insurance for a driver with a clean record is $2,671, high-risk drivers usually pay more — sometimes significantly more, depending on what kind of risk you present. 

Some violations will have a bigger impact than others, and how much your rate increases often depends on the severity and timing of the infraction. But here’s the good news: even if you’re classified as high-risk, there are still ways to find affordable options — and the Bankrate insurance team is here to show you how.

Cheap car insurance for drivers with an at-fault accident

After an at-fault accident, car insurance companies will typically add a surcharge to your policy (unless you have accident forgiveness). While the surcharge amount may depend on the severity of the accident and the amount paid out in a claim, it’s unlikely that you’ll pay close to the original premium you had as a driver with a clean driving record.

Cheap car insurance for drivers with a speeding ticket conviction

Receiving a speeding ticket can be a serious violation, especially if you were significantly over the speed limit. Drivers with speeding tickets pay an average of 22 percent more for full coverage car insurance compared to drivers with clean records. 

Cheap car insurance for drivers with a DUI conviction

A DUI conviction is one of the most severe driving infractions and may stay on your driving record for up to 10 years depending on the laws in your state. Drivers with a DUI conviction pat an average of 96 percent more for full coverage car insurance. Car insurance companies consider drivers with a DUI conviction to be some of the riskiest to insure, and the average rates below reflect this. 

Cheap car insurance for young drivers

Young drivers are more likely to be involved in accidents compared to older drivers, largely due to their lack of experience. As such, young drivers pay some of the most expensive car insurance premiums. However, note that age is not a rating factor in all states. In Massachusetts and Hawaii, for example, auto insurance companies are not allowed to consider your age. The following carriers offer the cheapest rates for 18-year-old drivers on their own policy. 

Cheap car insurance for drivers with a lapse in coverage

A lapse in car insurance coverage can occur if you fail to pay your premiums or if you are switching carriers and your original policy ends before your new one starts. Depending on how long the lapse lasts, your car insurance rates might not be impacted significantly, but a longer lapse typically means higher premiums.

If you’ve experienced a lapse in coverage and resulting rate hike, consider getting quotes from the following insurers:

How to save on car insurance as a high-risk driver

Having one speeding ticket or car accident on your driving record usually won't put you in a high-risk driving category. However, drivers with one accident are statistically more likely to have another one within three years. Having multiple accidents and speeding tickets or a single DUI can have you flagged as a high-risk driver. It may take about three to five years of good driving before you could be reassigned to the standard risk pool, but there are some things you can do to lower your insurance premium during that time.

• Shop around for coverage: Every insurer uses their own proprietary method for determining rates, so asking for quotes from a number of carriers is likely to earn you a range of possible rates, from which you can pick the most affordable for your coverage.
• Take a defensive driving course: Check with your agent to see what defensive driver course you may qualify for. Once completed, the course might provide you with a discount lasting for three years and can be retaken to maintain the savings. Please note that some states only allow defensive driving discounts for drivers over the age of 55.
• Keep your old car: Older vehicles have lower replacement costs, so they generally cost less to insure. Additionally, if your vehicle is old enough that the actual cash value is less than the cost of collision coverage, you may be able to remove this coverage type, significantly reducing your premium.
• Improve your credit: While not all states use credit history as a rating factor, most do and having poor credit can put you in a high-risk group. If you improve your credit score from poor to fair or good, contact your insurance company and ask if they can re-run your policy with your improved credit score. This is usually a one-time option but it could save you a significant amount of money. 

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