How to Get High Risk Auto Insurance in Ontario
Finding affordable car insurance premiums when classified as a high risk driver can be challenging. But there are ways you can cut down costs – like using a high risk broker.
Work to improve your driving record to help move yourself back down into lower risk categories.
What Makes You a High Risk Driver?
Insurance companies classify drivers who pose high risks for any number of reasons. This could include accidents and multiple traffic violations on their record or simply due to being inexperienced drivers or being young drivers.
Driving convictions such as DUI or impaired driving are considered high-risk by most insurance providers. Even minor convictions such as distracted driving or speeding can put drivers into this risk category.
Assumptions that make someone a high risk driver include lying to your auto insurance provider or missing premium payments and thus having their policy cancelled. Furthermore, living in dangerous areas or owning expensive cars which are more prone to theft could put one in this position as well.
While finding affordable car insurance as a high-risk driver may seem challenging, it is possible to secure policies at competitive rates. Comparing policies and bundling discounts may help lower your rate; additionally there may be ways you can improve your driving record which could result in lower premiums in the future.
How Long Are You a High Risk Driver?
Many drivers fall into the high risk category for non-driving-related reasons, such as missing premium payments which lead to policy cancellation or providing false information on their car insurance application. When this occurs, these drivers are immediately placed into this high-risk group until their record has been cleared up.
Once a driver enters the high risk market, finding affordable car insurance in Ontario may become more challenging. There are ways to cut costs such as taking a defensive driving course and maintaining high credit scores; as well as knowing when tickets and accidents will fall off of their records. When shopping around for insurance rates it is essential that drivers know when tickets and accidents will drop off their record and how to shop around for better deals.
One effective strategy to help lower the cost of high risk car insurance is bundling your auto and home policies together, which could yield savings of up to 10%. Another method for saving money would be raising your deductible amount which reduces what you owe in case of an insurance claim.
How Long Does High Risk Insurance Last?
Auto insurance is a pool of money designed to pay out claims resulting from accidents. As more drivers pay out claims, their premiums increase proportionately.
Most individuals will only be considered high risk for a short while. If they can remain accident- and traffic violation-free for at least three to six years, their rates should go down accordingly.
If a driver’s risk profile exceeds that of most insurance providers, Facility Association provides coverage. They operate like a pool to ensure high-risk individuals receive coverage without incurring higher premiums from elsewhere.
When searching for high-risk car insurance, it’s essential to compare quotes from various providers in order to find the appropriate policy. Furthermore, consider looking at their reputation and scope of coverage, cost-saving measures like bundling policies together or usage based insurance (UBI), bundling options or cost savings as means for cost savings – with careful research and knowledge, Ontario residents can easily find affordable and reliable high risk auto coverage.
How Far Back Do Car Insurance Companies Look?
An auto insurance provider will conduct a driving record check during the application process, with your consent. They typically look back three years for accidents and moving violations.
Accidents or multiple violations on your record could qualify you as high-risk driver; however, this status isn’t permanent and if you improve your driving habits and clear up past violations you could qualify for regular auto insurance again.
In the meantime, high-risk coverage can keep you and other drivers safe on the road. When selecting an insurer it’s essential to do your research thoroughly in terms of its reputation, customer service quality and cost saving features – this way you will receive the best deal.
Defensive driving courses and bundling your auto and home policies together may help lower rates, while selecting full pay or higher deductible policies are also ways to save. At KBD Insurance Services Ltd in Canada we have over four decades of experience offering home, auto and business policies at reasonable rates for high risk drivers in Ontario.
How Does High-Risk Insurance Work?
High risk drivers can find themselves paying much higher car insurance premiums due to various circumstances. Common examples include being convicted of DUI or receiving multiple tickets; at-fault accidents may also increase premiums. Each situation varies; it all depends on how severe violations were and other contributing factors involved.
Drivers do have options available to them for lowering high-risk insurance premiums over time, however. They could attend a defensive driving course or improve their credit score to qualify for standard car insurance policies; additionally, trying to avoid accidents or traffic violations could lower premiums when it’s time to renew them.
Paying extra for car insurance might seem like an unfortunate expense, but having some coverage is better than none at all. Make sure to shop around and compare quotes from both standard and non-standard insurers so you get the best deal for your coverage.
Reach out to us at 1(905) 335-6925 for a free estimate.
