Who Is Considered High Risk for Auto Insurance?
If you need to purchase an auto insurance policy, you may be concerned that you will be classified as a high-risk driver. Those who are classified as high risk may have difficulty finding coverage, or may pay higher premiums than standard drivers.
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Meaning of High Risk
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When an insurance company evaluates an applicant, it assesses the likelihood that the applicant will file a claim. Those considered more likely to file claims are deemed high-risk drivers.
Young Drivers
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Drivers younger the age of 25 are typically considered high risk. Those between the ages of 21 and 25 typically have less difficulty finding coverage than those younger than 21.
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Elderly Drivers
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Statistically, drivers older than age of 70 are as likely to have accidents and file claims as young drivers.
Multiple Violations And Accidents
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If you have several moving violations or accidents on your record, an insurance company will consider you a high-risk driver.
Major Violations
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Violations such as driving while intoxicated and reckless operation put drivers in the high-risk category. Even a single major violation can make it difficult to obtain coverage at reasonable rates.
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