With car insurance being mandatory in Canada, high-risk drivers often find it hard to get back on the road due to expensive insurance policies and hefty fines if caught driving without one.
In this article, we’ll help you get a high-risk auto insurance quote online in Ontario. We’ll also help you understand what high-risk drivers are and know the average costs of getting high-risk auto insurance.
What Qualifies You as a High-Risk Driver?
High-risk drivers are defined by the Financial Services Commission of Ontario as drivers who had a number of convictions, at-fault accidents, canceled policies, or has other risk-related characteristics. Drivers can also be considered high-risk if they have one or more the following:
- Poor driving record (suspended license, careless driving)
- Poor credit score (history of late payments or delinquencies)
- Having more than two traffic tickets
- Drivers aged 16 to 24
- Driving a modified car with enhanced performance
If an insurance carrier categorizes a driver as high-risk, they may cancel that driver’s policy during renewal. This limits the driver’s options for insurance carriers because very few companies would offer regular coverage for high-risk drivers.
How Long Will I be a High-Risk Driver?
General infractions can affect insurance for up to 3 years while severe transgressions can take up to 6 years. Lapses in the payment of insurance can also affect how long a driver is classified as high-risk.
Maintaining a clean driving record moving forward and making sure that your insurance policy is in effect at all times will help in the eventual removal of your high-risk classification.
Getting A Quote for High-Risk Auto Insurance
High-risk drivers can purchase or request a quote from licensed insurance brokers, an agent, or a direct writer that have policies covering high-risk drivers specifically.
Licensed insurance brokers are a great way to obtain and compare quotes due to their access to various insurance companies. While brokers do charge a commission, the savings you’ll get from an insurance policy with a good deal will outweigh the cost.
Another benefit of having an insurance broker is the layer of protection they provide by representing your interests when dealing with insurance providers. They help speed things along and keep insurance companies accountable during the claims process.
Most Insurance Brokers in Ontario like Youngs Insurance Brokers Burlington offers quotes online. One simply has to fill out a form. You can visit this website from the Insurance Brokers Association of Ontario to locate a broker near you.
To be provided a quote or be able to purchase insurance, brokers and agents will require some basic information from you. The information they ask for can include:
- your car (make, model, etc.)
- your personal information
- previous accidents, violations, and insurance claims you’ve filed
- the personal information of other people who may be driving your car
You can use this table from the Financial Services Commission of Ontario to help you with what information you’ll need to present.
You must be accurate and honest with the information you provide. Insurance companies have the right to cancel your policy if the information you provided is not correct or complete. It could also render your policy null and void in the event of a claim.
Average Costs of High-Risk Auto Insurance
High-risk auto insurance policies can cost as much as $1000 to over $10,000 depending on the number of violations committed in the past 3 years. For example:
- Having 2 or fewer violations in the past 3 years has an annual premium of $2,107
- Having than 3 violations in the past 3 years have an annual premium of $3,010
- A recorded Criminal Code offense (ex. careless driving, DUI) has an annual premium of $10,000
The average cost of car insurance in Ontario is $1,505.
If you are classified as a high-risk driver, it is important to note that these prices vary depending on which insurance company you choose to sign up with. This makes shopping and comparing prices very important, again underscoring the benefit of having a broker who is familiar with the providers doing the searching for you.
Being classified as a high-risk driver and paying for high-risk auto insurance isn’t a permanent thing. The right amount of effort in maintaining a clean driving record and the proper payment of insurance policies can eventually remove the high-risk status.
If you do find yourself in need of getting high-risk auto insurance, getting the right quotes from the right people can help get you the best deals.
Creating the Best Policies for You
You can trust Youngs Insurance Brokers Burlington to provide you with the best insurance policies you need. We have reliable and experienced agents that read to handle any personal, auto, and other types of insurance. Get in touch with us today for a free quote.