Are you a high risk car insurance driver and not sure where to turn to find affordable insurance? Know 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.
Are You Considered A High Risk Car Insurance Driver?
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 Are Some Features Of Non Standard Insurance?
Non Standard auto insurance companies cater to high-risk drivers. Their policies can have the following features that minimizes companies risk while keeping premiums low.
- 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
- Only lower liability limits offered
- Non Owner SR22 Insurance Policies available
How Long Is Non Standard Insurance Needed?
Auto insurance companies count your accidents, tickets and suspensions for three years. But this can vary by insurer. Some look back as far as five years when assessing if your still a high risk car insurance 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 For 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 car 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 using a high risk car insurance broker who has access to multiple high risk companies.
What If No Car Insurance Company Wants 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 the Assigned Risk Pool in your state for coverage. The AIPSO is not an insurance company they are a assigned risk pool for all states . All insurance companies that sell auto insurance 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.
Before you purchase any policy, be sure to comparison shop. It’s a good idea to also look into the financial strength and complaint ratios of the insurance companies. Companies with good financial strength are able to pay out claims on time. You’ll want to receive the coverage you’ve paid for in the event that you need to use it. Companies with a low complaint ratio can be found in the high-risk insurance market, and it’s worth trying to find a company that provides a good mix of value and cost.
