Insure Your Future

When To Compare High-Risk Auto Insurance Quotes

31 March 2020 by Sue Palmer

One of the best ways to save on any insurance policy is to compare rates offered by different insurers so that you can choose the most affordable option. While you're welcome to compare high-risk auto insurance rates at any point in time, there are a few key times when you're most likely to find savings. Here's when you should compare high-risk auto insurance quotes.

When You're First Classified as High Risk

When your insurance company first classifies you as a high-risk driver, you should immediately request quotes for high-risk auto insurance policies from multiple insurance companies. 

While all insurance companies will likely classify you as high risk, they won't all assess your risk in the same way. Some will invariably view you as a higher risk than others, and quoted premiums will vary as a result. The only way to know whether your current insurer will offer the lowest available high-risk premiums is to check their rates against other companies'.

When You Complete a Defensive Driver Program

If you haven't already completed a defensive driver program, one of the best ways to reduce your auto insurance premiums is to complete such a program. An approved program can help any driver reduce their auto insurance premiums, but the discount attained is especially significant if you pay higher premiums because you're classified in a high-risk category. 

As is the case with general risk classification, however, not all insurance companies will weigh the completion of a defensive driver program equally. Some companies will give a larger discount than others for it, and any discount is affected by the premiums that a company initially assesses before the discount applies. Those premiums, of course, also vary.

Thus, you should shop around by comparing high-risk auto insurance quotes after you complete a defensive driver program. Looking at several quotes is the only way to know which insurance company's combination of premium and discount will result in the lowest effective rates for you.

When Your Policy Is Up for Renewal

It's generally a good idea to review your auto insurance coverage and compare policies whenever your current policy is up for renewal. This happens every six months or every year with most policies, so you should go through the process of requesting quotes once or twice a year in general.

As you compare policies, you might find a different insurance company will charge you a lower rate if you haven't had any recent accidents or tickets. Contact an insurance agency like Crowel Agency, Inc. to learn more.

Share  

Search