What You Ought to Know about Insurance as a High-risk Driver
One of the questions that all high-risk should ask themselves is, can an insurance company drop you? The answer to this question is that it is possible of which it does not happen often. Your policy is canceled by the insurance provider when the risk causes the suspension of your driver’s license although the company must wait until the policy is due for renewal. Read on for more information concerning high-risk drivers.
Cancellation of the policy is one basic thing for any high-risk driver. Normally, you can have a termination of your insurance policy within the first two months. There are numerous reasons for this cancellation one being a misinterpretation. Presenting information in a wrong way when applying could also lead to cancellation. Secondly, it could be as a result of non-compliance. Non-payment of premiums also could lead to cancellation of an insurance policy. It can also be as a result of being at fault in all claims.
The other helpful information for a high-risk driver is non-renewal. Non-renewal being where an insurance provider drops you when the policy period is over. Reasons for non-renewal are very many but there are those that are unacceptable. Among those that are unacceptable are age, race, marital status, color occupation as well as physical handicap. A driver with a bad driving record and may be driving under influence are some of the reasons for non-renewal. Non-compliance and late payments also leads to non-renewal. Other reasons are fraudulent claims as well as too many accidents of which you are at fault.
Apart from the above-discussed information, you should also know who a high-risk driver is. There are numerous explanations where it could be one who is at high-risk as you compare to another. Another explanation is one who is not in a position to receive insurance coverage. You can as well understand high-risk driver as the one who requires a form from the government for them to apply for a car insurance policy. High-risk drivers do not get the best rates mostly because of many reasons. One is having a poor credit score. Traffic violation record is another reason. It could also be because you are a teen driver. Another reason is having no home which is believed to be an indication of being stable.
Accidents that cause a company to drop you are not specified since the company’s policy will determine this. Being covered does not mean that you should be reckless for your policy may not be renewed. The above are some things to know as a high-risk driver.