Are you a Oregon high risk auto insurance driver and not sure where to turn to find affordable insurance? You are not alone we have helped many people in your situation. Please read on to find out what high risk auto insurance in Oregon entails and how to navigate this market.
Who is Considered High Risk Auto Insurance?
Driver’s that have more than one violation and a accident are considered a higher risk than a driver with no violations. A young driver with no driving experience would also be a high risk until they complete three years driving without tickets or accidents. A bad credit score can also make you a higher risk driver as well. If you fall into one of these scenarios you will not qualify for a preferred insurance rate. You will be considered a standard or non standard risk depending on how bad your record is. Some examples of high risk drivers are.
- Drivers with DUI or reckless driving charges.
- More than two minor violations in 3 years.
- Multiple accidents or 1 accident with bodily injury past 3 to 5 years.
- Young drivers with under 3 years licensed driving experience.
- Drivers with a suspended license.
What Is Oregon Non Standard Insurance?
Non Standard auto insurance companies cater to high-risk drivers. Their policies can have the following features that minimizes companies risk.
- Named Driver Only Policy: Only insure people listed on the declaration page no other drivers insured.
- Double or even triple deductibles first 30 days after inception or after reinstatement.
- Driving record checked on every renewal.
- Credit checked at renewal.
- Higher base mileage minimum.
- Lower liability limits offered
- Non Owner SR22 insurance policies offered
Length Of Time Non Standard Insurance Is Needed.
Car insurance companies will forgive your accidents and poor driving record if you maintain a clean driving record for three years. But this can vary by insurer. Some look back as far as five years when assessing if your still risky a driver. If the offense has fallen off your driving record, your insurer should no longer be able to use it to increase your rates.
How To Shop Oregon High Risk Auto Insurance.
As a high-risk driver, you may be able to buy a standard policy from a traditional insurance company such as State Farm or AAA with higher premiums than their preferred policies, or you may buy what’s known as a nonstandard policy. These types of policies are offered by smaller niche type companies who specialize in high risk auto insurance. Be sure to find out about restrictions like Named Driver or double deductibles that can lower premiums but will increase your share of risk. Nonstandard insurance includes both small, niche companies, and some major carriers which have divisions selling non-standard coverage. A good option when shopping is a high risk auto insurance broker who has access to multiple companies and can compare rates on your behalf.
No Insurance Company Is Willing To Insure Me.
If you are in the unenviable position that your driving record is so bad that you cannot obtain auto insurance in the voluntary insurance market you can apply to AIPSO for coverage. The AIPSO is not an insurance company they are a assigned risk pool for the state of Oregon. All insurance companies that sell auto insurance in Oregon have to participate in the pool. The way it works is if State Farm Insurance insures 25% of the Oregon auto market then they would be required to take 25% of the assigned risk pool in Oregon. You will not have a choice as to what company is assigned to provide coverage for you.
What Coverage’s Can I Purchase Through Assigned Risk Pool
You will be required to buy at least the state minimum of coverage which is
- $25,000 per person Bodily Injury and $50,000 per accident Bodily Injury with $25,000 in Property Damage, Uninsured Motorist Coverage of $25,000 per person and $50,000 per accident along with Personal Injury Protection of $15,000.
- The maximum coverage available through Oregon assigned risk is
- $100,000 per person Bodily Injury and $300,000 per accident Bodily Injury with $50,000 in Property Damage.
- Uninsured Motorist Coverage $100,000 per person Bodily Injury and $300,000 per accident Bodily Injury.
- Personal Injury Protection stays at $15,000.
Are There Payment Options?
After you are assigned an insurer through the OR AIP, you will have your choice of payment options. You can choose to pay the full annual premium up front. A second option is you pay 40% of the annual premium as a deposit, and the remaining 60% within 30 days. Option three is to pay 40% of the annual premium as a deposit and the rest in 5 monthly installments. If you choose the installment plan, you will also pay a $4 installment charge per month. Please note if you select the payment option be sure to make the payments on time as late payments can be cause for cancellation.
The Western Association of Automobile Insurance Plans or WAAIP is a processing center where people who have trouble buying automobile insurance are put in touch with an insurance company which will insure them. You can contact them at 1-800-227-4659.