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Auto insurance costs more per month for drivers with certain high-risk characteristics, including a history of accidents or traffic tickets, inexperience behind the wheel, past lapses in insurance coverage, and even poor credit. However, if you are patient and responsible, you can take steps to get out of the high-risk insurance pool and lower your premium rates considerably. Below are a few steps to take to lower your premiums.

How High-Risk Insurance Policyholders Can Lower Their Rates

1. Maintain Coverage

Whether you let your auto insurance policy lapse on purpose or by accident, when you eventually seek coverage again, you'll find the cost has risen because insurers consider you a risk. However, if you maintain coverage for at least six months—some insurers require a year—you'll eventually see a premium drop.

2. Improve Your Credit Rating

high-risk insuranceA history of late payments, charge-offs, or even bankruptcy will cause your rates to skyrocket. Most insurers utilize a credit-based insurance score to determine premiums, and credit irresponsibility is a red flag. However, if you maintain timely payments and bring all loans out of default, these blemishes will eventually fall off your credit report.

3. Complete a Safe Driver Course

Ohio offers remedial defensive driving courses that—if you qualify—let you shave penalty points off your license. The fewer points you have, the less you'll pay for high-risk insurance.

4. Join an Existing Policy

Insurers consider new drivers, whatever their age, to be an insurance risk because of their inexperience. However, if someone will add you to their existing policy, you will see a lower monthly premium than if you tried to purchase a separate policy.

 

For expert help designing a high-risk insurance policy, contact 1st Choice Insurance in Fairfield, OH.  They are family-owned and -operated, and their agents have helped motorists throughout Butler County find affordable insurance for 30+ years—even those who have a record of collisions and moving violations. They offer auto, motorcycle, and SR-22 bonds. Visit their website to view directions and office hours, and call (513) 860-0666 to request an auto insurance quote.

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