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ArtEvent ET/Getty Images June 17, 2022 June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. With car insurance as a mandatory expense for many drivers, being considered a high-risk driver could cost a considerable chunk of your budget. But just because high-risk drivers face more challenges finding cheap car insurance doesn’t mean it’s impossible. Instead, it may be even more important to shop around to see what savings are available. Bankrate’s insurance experts took a methodical approach to finding cheap auto insurance for high-risk drivers, starting with key metrics like average annual premiums, policy availability, discounts and more. Compare rates and save on auto insurance today! Get quotes Close X RatesRates keep going up in 2022. Compare rates and save on auto insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More RATE INCREASE ALERT Rates increased up to 12% this year
Shop for a better rate before you renew your current policy. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More Lightbulb Key takeaways Some of the cheapest car insurance companies for high-risk drivers include Selective, USAA and Erie. The type of incident on your driving record and other individual factors affect how your insurance rates are calculated. How Bankrate found cheap auto insurance for high-risk drivers
Finding cheap car insurance for starts with understanding what constitutes a high-risk driver. Some factors are driving related, such as receiving a speeding ticket, being involved in an at-fault accident and being charged with a DUI. Other factors can include a lack of experience, like being a young driver in most states, a prior lapse in coverage or, in some states, a poor credit score. From there, Bankrate’s team of insurance experts analyzed average premium data from Quadrant Information Services to see how insurance carriers adjusted rates for each different scenario. These average rates were based on drivers with one driving infraction on their motor vehicle record. We also reviewed insurers for their policy options, financial strength and customer service, among others, to find which might be the best car insurance companies for high-risk drivers.
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually. These are sample rates and should only be used for comparative purposes. Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction and lapse in coverage. Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations. Cheapest car insurance for high-risk drivers
High-risk drivers face a more difficult time finding cheap car insurance because car insurance companies presume that they are more likely to exhibit unsafe driving behaviors and file more claims compared to low-risk drivers, therefore leading to higher premiums or even denied coverage. While the pays a car insurance premium of $1,771 per year for full coverage and $545 per year for minimum coverage, high-risk drivers, on average, pay more than that. But Bankrate’s extensive research reveals that there are affordable options available. Our investigation found that Selective, USAA and Erie offered the cheapest car insurance for high-risk drivers. Below are each company’s average rates for good drivers, which can be a useful baseline comparison for each of the different high-risk driving scenarios further below: Car insurance company National average annual full coverage premium Selective $1,159 USAA $1,209 Erie $1,321 Cheap car insurance for drivers with an at-fault accident
, car insurance companies will typically add a surcharge to your policy. While the final amount may depend on the severity of the accident and the amount paid out in a claim, it’s unlikely that you’ll pay close to the original premium you had as a driver with a clean driving record. Our research showed that Selective, Erie and Auto-Owners offered some of the cheapest car insurance premiums for drivers with one at-fault accident on their record. Compared to Selective’s average premium for a good driver, its average premium for a driver with one at-fault accident was only $90 more per year. Car insurance company Average annual full coverage rate Selective $1,249 Erie $1,562 Auto-Owners $1,689 USAA $1,742 State Farm $1,769 Cheap car insurance for drivers with a speeding ticket conviction
can be a serious violation, especially if you were significantly over the speed limit. A speeding ticket conviction can also have an impact on your car insurance premium. Based on our study, Selective’s average premium did not change for drivers with a single speeding ticket, and Erie and USAA’s policies were about $100 to $250 more. Car insurance company Average annual full coverage rate Selective $1,159 Erie $1,435 USAA $1,464 Auto-Owners $1,507 Geico $1,586 Cheap car insurance for drivers with a DUI conviction
A can be one of the most severe driving infractions and stay on your record for up to 10 years, although it may be even longer or permanent in some states. As car insurance companies consider drivers with a DUI conviction to be some of the riskiest to insure, it reflects clearly in the rates. Drivers with a DUI insured with Selective pay around $650 more per year compared to a driver with a clean record. At the next two cheapest companies, Progressive and Mercury, drivers with a DUI conviction have average rates of over $2,000 per year for full coverage car insurance. Car insurance company Average annual full coverage rate Selective $1,809 Progressive $2,049 Mercury $2,133 Erie $2,285 State Farm $2,293 Cheap car insurance for young drivers
Young drivers are more likely to be involved in accidents compared to older drivers because of their lack of experience. As such, young drivers pay some of the most expensive car insurance premiums, but we found that Erie, USAA and Auto-Owners have some of the cheapest car insurance for 18-year-olds on their own policy. However, age is not a factor in all states — in Massachusetts and Hawaii, drivers won’t see an impact on their car insurance based on their age. Car insurance company Average annual full coverage rate Erie $2,904 USAA $3,353 Auto-Owners $3,386 State Farm $3,812 Geico $3,877 *Rates based on 18-year-old drivers who rent and have their own policy. Cheap car insurance for drivers with a lapse in coverage
A can occur if you pay your premiums or if you are switching carriers and your original policy ends before your new one starts. Depending on how long the lapse lasts, your car insurance rates might not be impacted significantly, as seen with the marginal increase in Selective’s average full coverage rate compared to its rate for good drivers. However, more apparent additional costs can be incurred, as shown in USAA’s, Auto-Owners’ and Erie’s increased rates for drivers with a lapse in coverage. Car insurance company Average annual full coverage rate Selective $1,160 USAA $1,290 Auto-Owners $1,306 Erie $1,327 Geico $1,371 What makes a driver high-risk
Insurance companies look at a driver’s past driving, claims and insurance history to predict the possibility that they will file more claims in the future. Some specific factors include: : Drivers with poor credit are statistically more likely to also file more claims. For this reason, insurance companies often factor this in while calculating insurance rates, although it is not permitted in certain states. : Causing an accident and fleeing the scene is considered a very serious offense and could even come with criminal charges. Drivers with a hit-and-run on their driving record are very likely to be considered a high-risk driver by car insurance companies. Excessive speeding: Driving at excessively high speeds means that there is less time to adjust for potentially dangerous situations and course correct. Driving at speeds 15 mph over the speed limit or more, or continuing to speed even after receiving speeding tickets can signal to an insurance company that a driver is especially high-risk and reckless. How to prevent a high-risk driver status
Taking precautions while driving can help you maintain a clean driving record. Some safe driving habits include: Leaving early. If possible, try to allow as much time as needed for you to reach your destination. Check real-time traffic before you leave to see if there are any accidents or slowdowns on your route so you can adequately prepare. Maintaining safe speeds. Driving at an appropriate speed is one of the easiest ways to stay safe while driving. Avoiding speeding can give you more time to anticipate hazards around you and react to drivers. Other safe driving habits include increasing your following distance and using your turn signals and mirrors to change lanes safely. Considering accident forgiveness. Despite our best efforts, accidents can happen. If your car insurance company has the option, consider purchasing accident forgiveness. With this add-on, the surcharge on your first at-fault accident is waived. You might still lose a good driver discount, but losing the discount without an additional surcharge could still save you from paying considerably more in premiums. Frequently asked questions
How much is car insurance for high-risk drivers
The cost of car insurance for high-risk drivers will depend on their situation. Whether you have a driving infraction, a lapse in coverage, limited experience or a combination of these factors will impact your rates. The best way to determine your cost of coverage is to shop around with multiple carriers, as each will have their own algorithm for calculating rates.
What is the best car insurance for high-risk drivers
It’s difficult to pinpoint one car insurance company as the best for all high-risk drivers, as every driver will have different priorities. You may still want great customer service, for example, or to keep important add-on coverage types. Consider what aspects are most important to you when evaluating car insurance companies to help you narrow down the list.
How long does an incident stay on my driving record
This will depend on the type of incident you had and the regulations in your state. Receiving a surcharge from your insurance company for high-risk behavior may last for three or more years, also depending on state guidelines. While it is important to shop around for coverage to see where you can save, remember that you are still likely to face higher rates than the average good driver even if you were to . SHARE: June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Related Articles