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High Risk Drivers and Costly Insurance Rates

by A. Montalbano on 08/26/15

Being labeled as a high-risk segment of the population for insurance purposes is determined by various classifications.  According to the Insurance Information Institute the highest risk is due to poor driving habits.  AGIS countdown on the  top 10 high-risk segments of the population and what to do on lowering insurance rates.

10.  Under-insured Driver:  This driver is a major risk for all other drivers on the road.  He doesn't carry enough liability to cover damage he does to a vehicle.  Say he drives an SUV and carries 30/60/25 on his liability.  You drive a 2015 Mercedes Benz and he slams into your car causing it to total.  His insurance damage is limited to $25,000.  Not enough to cover your new Mercedes.  Type of vehicle needs to be on the minds of the consulting agent.  50/100/50 plus is more suitable for an SUV liability. 

9.  Over 65:  This driver can see the suitable rates starting to diminish with standard carriers.  Why?  Visual perception decreases as we get older, however carriers at AGIS believe this age group is living long and the stats are looking healthier.  We care about baby-boomers and the vibrancy they share to remain dependent.
8. Under 25:  This type driver cannot avoid the inexperienced issue.  However, a responsible teen can build a driving history without the tarnish of a claim or tickets to follow them into the "get out of high rates" zone at age 25.  AGIS writes policies for under-25 drivers as long as the driver OWNS the vehicle, we can help with suitable rates.

7.  Over 25 and no Driving History:  Most often, the foreign driver is included in this category.  However, Americans who work overseas can also be found with no driving history record upon return to the states.  A smart move for Americans would be to be included on a relatives policy as they visit.  For the foreign driver, AGIS carriers can help you develop a start.

6.  Bad Credit Score:  Yes, a poor lifestyle habit has just taken a toll on your insurance rates.  You are now officially classified in the high-risk pool.  The insurance industry relates continuous bad credit score with future claims.  Life altering events happen which can affect your credit score, such as divorce. However, remaining with a bad credit score throughout your lifetime will keep your insurance rates in the worst shape possible with standard carriers.  Give AGIS a call for the non-standard option.

5.  Distracted Drivers:  This category includes drivers with life-altering events, texters, and anyone whose mind is distracted from the road, most of the time, it involves a cell phone.  An accident is waiting to happen because your eyes and mind steer away from the pilot seat.  If available, do purchase accident and minor violation forgiveness under your insurance plan.  Don't be misguided in believing your are a super-multitasker.  Multitasking is about chaos not made for the road.

4.   Bad Driving Habits:  Continuous claims, tickets, accidents spells a chaotic lifestyle.  Changes in lifestyle improve driving habits, credit score as well as other aspects in your life.  Need I say more?

3.   Lapses in Coverage:  This means requiring your insurance company to surcharge your rates because of late pay, or cancelled policy.  This driver is worse than the driver with no insurance because he places other purchases above insurance liability.  Most standard carriers include the surcharge but after the first lapse won't re-instate.  Reducing unnecessary coverage, increasing deductibles and bankdraft payment plan can help this type driver.  Call AGIS.

2.  No Insurance:  Get caught in the state of Texas for no insurance and get your vehicle towed and compounded.  DPS and law enforcement agencies have teamed up with TexasSure.com to spot a violator.  How?  Running a license plate can immediately notify patrolling officers which vehicle has coverage and which one does not. 

1.  DUI/DWI:  Risking other lives is not a choice.  The state of Texas will not tolerate this type driver.  Rates as #1 under our segment for 11 Dumb Ways to Increase Your Auto Insurance Rates.  This type driver carries the Scarlet Letter for the rest of his life.  Driving while intoxicated or under the influence is not only endangering others, its a costly decision. 

Change your lifestyle, change your driving habits. 

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