What Factors Affect Insurance for Drivers With Multiple Accidents?

The risk profile of a driver plays a significant role in deciding the car’s auto insurance rates. Drivers with multiple accidents show that they are high-risk drivers. The insurance companies consider the insurance cost depending on the risks associated with them.

The high-risk drivers make a claim frequently, that’s why they are charged more. Also, several factors make a driver fall under this category.

Who Is a High-Risk Driver?

A high-risk driver is one having multiple accidents and often raises claims. This is a negative thing for the auto insurance company and the car owner. This is because the risk involved with them is high, and they repeatedly claim, which makes the premium cost high.

The insurance company has to bear more expenses on your claim than the amount of the insurance premium. Several factors make a high driver risk, so the insurance premium’s cost depends on such factors.

Characteristics of Drivers With Multiple Accidents

Drivers with multiple accidents, also known as high-risk drivers, have some basic features. You can get to know about a high-risk driver if he has the following characteristics which may include:

• Traffic violations which may consist of DWI or DUI
• Having multiple comprehensive claims
• Insufficient driving experience
• No history of auto insurance
• At-fault accidents in your car
• No fault accidents on your motor car

What Factors Make You a High-Risk Driver?

A driver becomes a high-risk driver due to several factors. The different parameters decide a driver’s risk profile, so the insurance cost is also determined accordingly.

Sara Routhier, Senior Director of Content at BuyAutoInsurance.com, lists some of the primary factors that make you a high-risk driver.

Claim History

Your claim history plays a significant role in making you a high-risk driver. The more frequently you make claims, and the higher the cost of the insurance policy. This is because you will lose the benefit of a claim bonus, so you have to pay a high price over your next insurance renewal.

Location

The location of your residence or where your car is being parked makes you a high-risk driver. If your vehicle is usually at a place where the chances of accidents and theft are high, you will be considered a high-risk driver.

Age

Some car insurance companies charge premium amounts depending on the driver’s age with multiple accidents. The companies charge high insurance costs for drivers aged 30 to 35 years. This is due to the reason that the young drivers don’t have as much driving experience as the older drivers have.

Marital Status

Research shows that a married person’s insurance premium is 5% less than a single. This is due to the reason that the married person is considered to be a safer and financially stable driver than an unmarried person.

Insurance cost for drivers with multiple accidents

If you are thinking of the cost of auto insurance for drivers with various accidents, it is more often high. The auto insurance for high-risk drivers is more because of the reason that they make more claims and the risk involved is high.

Also, if you are a high-risk driver and don’t have any insurance, that can lead you to lots of damages that may cost you thousands of dollars. Your license can also be seized if you don’t have car insurance. So never make the mistake of not buying car insurance to save the high expenses if you are a high-risk driver.

Measures for Becoming a Low-Risk Driver

If you are a driver with multiple accidents, want to change your category, and become a low-risk driver, you can follow some tips. These will help you to a great extent in changing your type.

• You should comply with the traffic rules, have valid documents while driving, retain the speed, etc.
• Staying vigilant while driving helps prevent a collision with any other vehicle or object. You will be able to control your car in alarming situations if you are correctly attentive.
• You should learn about speed supervision by starting with driving gradually and then coming to a steady speed.
• Make sure that you have enough distance from other vehicles so that you can take action in an alarming situation.
• You should opt for a voluntary deductible which helps in reducing the premium amount.
• Use a proper posture while driving, which helps you stay in a comfortable position. The incorrect posture can lead to body aches, affecting your focus on driving.
• Ensure maximum safety measures as possible, like wearing a seatbelt.
• You can take specific training courses for driving through which you will get great help in learning basic concepts.

FAQs

Can drivers’ gender impact auto insurance rates?

In some countries, the gender of drivers has not been given much importance. However, male drivers are considered high-risk compared to female drivers. It will be the last factor in deciding the insurance cost.

What is meant by high-risk auto insurance?

In simple words, high-risk insurance means the owner raises claims more often. The driver’s risk profile of multiple accidents results in high-risk auto insurance. Also, high-risk drivers have a high cost of auto insurance compared to people who are low-risk.

Who is considered to be a high-risk driver?

A person is considered to be a high-risk driver if he has one or more auto insurance. The high-risk driver also has multiple speeding tickets or traffic citations. He has an average credit history and a high-value car. All such things make a person a high-risk driver.

Final Words

If you are a driver with multiple accidents, you should know about different parameters which can help in making you a low-risk driver. The numerous factors contributing to your high-risk driver profile will affect the insurance premium.

When you are aware of all such factors, you can have knowledge about the overall insurance cost. So make sure to consider all the essential things if you are a high-risk driver who will help you in your overall driving experience. Thus you can have the benefit of improving your risk profile by understanding all such things.