If you’ve been involved in an at-fault car accident in the past, have a DUI, or have bad credit, you’re likely to have trouble getting coverage from a standard insurer. Most insurance companies tend to avoid such kinds of drivers as they are highly likely to file claims.
Luckily, there are insurance companies out there willing to take a chance on you. Read on to gain insights on some of the best car insurers for high-risk drivers. But first, let’s have a look at what it means to be a high-risk driver.
Who Is a High-Risk Driver?
Most people associate high-risk drivers with having a bad driving record. While this might be true, it’s not always the case. That said, a high-risk driver can include anyone who:
- Is newly licensed
- Has poor credit
- Owns a high-powered or exotic vehicle
- Has at-fault accidents, DUI, or ticket convictions
Best Car Insurers for High-Risk Drivers
Progressive ranks as the third-largest car insurer in the U.S. The company has been providing car insurance since 1937 and boasts a financial strength of A+ from AM Best.
Progressive has a great online tool that lets you compare rates from other insurers. It also lets you name your best price, then provides helpful suggestions on the best type of coverage to expect from your cited price. That said, progressive’s pricing can vary since it uses different pricing methods for agents, online sales, and brokers.
The company is a pioneer in telematics. It offers Snapshot, a safe driver program that can lower your insurance costs considerably based on data obtained through a tracking device that monitors your driving habits. This program could potentially save you up to $146 in insurance costs every year.
The lower insurance costs, coupled with a wide range of high-risk driver coverage scenarios, makes Progressive one of the best insurance companies out there for high-risk drivers. It’s an excellent pick, especially if you’re looking for an affordable insurer. You can have a look at Progressive insurance reviews to find out what other people say about the insurance company.
Geico has some of the most competitive rates for high-risk drivers in the industry. It also boasts a financial strength rating of A++ from AM Best and ranks highly in accident claims and customer satisfaction.
Geico shows consistently reasonable rates compared to other insurers in terms of pricing, even for high-risk drivers. It also provides SR-22 filings to certify that you meet minimum auto liability insurance requirements in your state.
Geico has a partnership with AMIG (American Modern Insurance Group) to provide coverage for drivers with classic cars and replicas. Overall, Geico seems to cover all high-risk driver scenarios.
Bristol West specializes in high-risk car insurance. So if you have a DUI or no credit, Bristol West has got you covered. The company prides itself in providing car insurance coverage for drivers who have trouble finding coverage elsewhere.
Bristol West is a subsidiary of Farmers Insurance, the seventh-largest car insurance company in the United States, and has a financial strength rating of A from AM Best. Also, having started in 1973, Bristol West is one of the oldest players in the game, so its experience is out of the question.
Compared to the average insurer, Bristol West has a considerably higher level of complaints, but that’s no surprise since it’s very common among companies who specialize in high-risk driver insurance. That said, Bristol West posted better results in terms of complaints compared to other specialized insurers.
The wide range of high-risk situations the company can insure, coupled with a user-friendly website and excellent customer support, makes it rank high among the insurance companies for high-risk drivers.
The Bottom Line
As a high-risk driver, getting an insurer that is willing to work with you can be pretty daunting. There are many factors that insurers look at to determine if you’re a high-risk client or not. These include getting a DIU, having bad credit, and getting involved in an at-fault accident. You can also be classified as a risky driver if you are newly licensed or own a high-end exotic vehicle.
While you’ll pay high rates at first, you can pay less over time by proving that you’re a safe and responsible driver. That will set you on the right track to getting the best insurance company.