Money Expert > Car Insurance > Car insurance for high risk drivers
Car insurance for high risk drivers
Last updated: 09/05/2022 | Estimated Reading Time: 6 minutes
Money Expert > Car Insurance > Car insurance for high risk drivers
Last updated: 09/05/2022 | Estimated Reading Time: 6 minutes
Car insurance can be expensive, and you may automatically fall in a high risk category and by default be faced with costly premiums.
We break down what drivers and vehicles are considered high risk, and give you some top tips to still find the best deal on the market.
High risk car insurance is a specific, pricier premium given by insurers that reflects the level of risk you represent to them. This is based on statistics and a number of factors such as your age, driving record and occupation, which we’ll go into more detail on below.
High risk drivers are those who insurers deem are more likely to make a claim – whether you have done so in the past or not. You may be considered high risk if any of the following apply to you:
Convictions will often automatically place you in the high risk bracket, depending on the severity. Why? To an insurer, it’s the proof in the pudding: you’ve been higher risk before, and therefore are more likely to again.
Some of the most common convictions are speeding offences, which range from minor to major in terms of the points obtained on your licence. For your first offence, you can take a speeding course which can negate the points, meaning this won’t affect your premium; more significant offences will stay on your licence, and you’ll need to declare them when looking for a quote. Using a mobile phone while driving is another conviction, as is not stopping after an accident.
You’ll also be deemed high risk if you’re found to be driving without insurance or under the influence of alcohol or drugs – these are the more serious offences that can lead to your licence being revoked. In this event, you may even find you need to get specialised convicted drivers insurance.
If you have any of the convictions listed above, you’ll likely face significantly higher car insurance premiums.
It can be. You may have a perfect driving record consisting of no convictions or claims along with years of experience. But while that’s a great springboard to cheap car insurance, your choice of vehicle will impact the price you ultimately pay.
For argument’s sake (and forgive our extremes here!) compare a run-of-the-mill, reliable hatchback with a brand new, imported sports car. If damaged due to accident or fire, or stolen by sticky-fingered thieves, which one is going to be more likely to repair, or more of a target for car theft? Essentially, you need to weigh up the cost of your vehicle by considering how much it would cost your insurer to pay out should you claim.
To opt for a lower risk car, avoid the following:
There are a number of ways you can actively become a lower risk driver.
Along with our tips above, heed the following to reduce your quote: