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If you’re having trouble securing auto insurance through a standard carrier, you might need a high-risk insurance policy. These policies offer the coverage you need to protect yourself and stay compliant. If you’re not sure if this is right for you, below are a few commonly asked questions about high-risk auto insurance.

What You Need to Know About High-Risk Insurance

What is high-risk auto insurance?

It is a type of auto insurance for drivers who have less than perfect driving records, low insurance scores, or a combination of the two. Having a bad driving record makes you a higher financial risk to an insurance company. Low insurance scores also correlate with a higher loss for insurance companies.

Since insurance coverage depends on your financial risk, many standard companies will not insure high-risk drivers.

Are you required to have high-risk auto insurance?

high-risk insuranceThere are certain instances in which you must obtain high-risk insurance, such as an SR-22 bond. An SR-22 bond is filed with the Ohio BMV to prove that you are carrying insurance. If authorities catch you driving without insurance, have had a DUI, or other traffic violations, you may need to obtain an SR-22 bond.

Even if you aren’t required to have an SR-22, depending on your driving record, high-risk insurance may be all you qualify for.

Do all companies offer these policies?

Not all insurance companies offer this insurance. If you cannot obtain coverage through a standard carrier, contact an insurance agency that specializes in high-risk drivers.

Will you always need high-risk insurance?

No, if you’re currently considered high-risk, you can take the following actions to improve your chances of qualifying for standard insurance:

  • Avoid accidents.
  • Follow traffic laws to avoid tickets.
  • Improve your insurance score.

If you follow these practices, your chance of securing standard insurance will increase over time.

 

If you need high-risk insurance, contact 1st Choice Insurance in Fairfield, OH. They have years of experience with high-risk policies and offer low-cost SR-22 bonds. This family-owned and -operated business has been serving Hamilton, Butler, and Warren counties for over 30 years. Visit the website to learn more about their services. Call (513) 860-0666 to request a free quote.

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