Things to Know as a High-risk Driver
One of the questions that all high-risk should ask themselves is, can an insurance company drop you? It is possible for an insurance company to drop a high-risk driver although it does not occur often. Insurance policy is canceled if the risk leads to suspension of license where the company waits until the policy is due for renewal. The article herein provides some of the basic things a high-risk driver should read more now.
First to know is the cancellation of an insurance policy. 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. The other reason could be as a result of the wrongful presentation of information during application. The other reason for cancellation of your insurance policy is non-compliance. Non-payment of premiums also could lead to cancellation of an insurance policy. An insurance policy can also be canceled when in all claims you are at fault.
Non-renewal is another thing very important to know about non-renewal. Here, an insurance policy drops a driver after the policy period has ended. Reasons for non-renewal are also quite numerous although there are those that are not acceptable. Reasons that are not acceptable are like age, race, marital status, color occupation, and even physical handicap. Reasons that cause non-renewal are like having a bad driving record and also driving under influence. Reasons like late payments and non-compliance also cause non-renewal. Non-renewal could also be due to fraudulent claims or maybe being involved in numerous accidents where you are at fault.
As you know all the above, you need to understand who is a high-risk driver is. The first understand of a high-risk driver is one who is at high-risk compared to another driver. You can as well explain a high-risk as one who cannot get 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. You do not get the best rates also if you are a teen driver. Another reason is having no home which is believed to be an indication of being stable.
The number of accidents that lead to being dropped is not specific as it depends on the company’s policy. You cannot have your policy renewed if you are not careful. Considering the discussed information, you get to know more as a high-risk driver.