What is High Risk Insurance?
High risk auto insurance is also known as high-risk insurance of the driver. People get surprised when they’re classified as high risk by insurance companies & where their insurance premiums increase.
Insurance companies think about several aspects while labeling a person as a driver with a "high risk". The assessment of this risk is either based on data that are drawn from the experience of loss & is grouped on this basis. Any person entering one of the following would be considered high risk drivers.
The first category is assessed as higher-risk drivers are older drivers. These types of people are judged in this category mostly because they have the agility & time to respond to a crisis is slowing.
The other basis on which is classified high risk auto insurance is a bad driving record or driving history impacts of drivers. The following categories:
a) Drivers who have traffic tickets & drunk driving records.
b) Drivers who have made several requests for auto insurance. Normally, more than 3 applications over the last 3 years are considered a higher risk by most private purchasers.
c) If your license was suspended & then you will need an SR22 insurance policy.
d) Persons who have had an adverse credit history.
The other risk is considered high risk drivers or high-risk auto insurance is that people who are involved in car racing & speed test. They are not risk the industry standard.
They also have new sub-category of risk, & normally the most dangerous DUI auto insurance. DUI convictions are usually charged more than 200-300 times the normal rate.
Insurance companies should normally accept this risk on a risk based on risk & underwriting philosophy of each company is different. That's why you're much better off trying to go around getting a quote for affordable high risk auto insurance. You have nothing to lose but it certainly can be a saving of $ 300 - $ 500 on your auto insurance premium, which would be used to improve your driving record clean & steering you toward the needle underwriters auto insurance personal risk as acceptable standard.
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
http://www.onlineautoinsurance.com is a leading auto insurance in Maine source. Click for more information on cheap auto insurance and other informative topics.