Not all auto insurance is equal. If a driver is at a greater risk of accidents or tickets, they must carry high-risk insurance, which comes with a higher premium than typical insurance products. Below is more information about carrying high-risk insurance.

Who Needs a High-Risk Insurance Policy?

The most common reason why someone might need to carry a high-risk policy is if they have a DUI or DWI conviction. This requires a specific form of insurance, known as an SR-22 policy. This insurance is a bond that an insurance company issues to the driver and will send to the state, which ensures that the driver has the minimum liability coverage. Drivers with a DUI conviction must carry this form of insurance for five years after their sentence. 

However, many other drivers are also high risk, and as a result, face higher premiums. Drivers with several moving violations, individuals with poor credit scores, and first-time drivers all typically have higher premiums. Drivers over the age of 65 or those who let their insurance coverage lapse for any reason will also deal with more expensive policies.

How Can You Lower the Premium?

While you must have an SR-22 bond for five years, other habits can help you gradually lower your insurance premiums. As you go longer without an accident or traffic violation, your rate will decrease to reflect your safe driving. You can also reduce the price by improving your credit score.

Teen drivers are also a high-risk group, but they can get discounts for excellent grades in school. Reach out to your provider about potential discounts and send in any documentation they require to lower your rate.

If you need a high-risk insurance policy, contact 1st Choice Insurance in Fairfield, OH. Serving the Greater Cincinnati area for over 30 years, their team specializes in helping drivers save on SR-22 bonds and ensuring you get appropriate coverage. To learn more about their services, visit them online. Call (513) 860-0666 to request a free quote.