Cheap High Risk Auto Insurance: Is It Worth It?

High risk drivers will have to pay a high risk auto insurance premium but is cheap high risk auto insurance really worth it?

The Pros and the Cons

The benefit of cheap high risk auto insurance is that you can save yourself a lot of money by not having to pay large monthly premiums but instead a smaller more suitable amount. This can be good because it helps to secure you financially.

However, the premium for high risk auto insurance can become so high that collision insurance just isn’t worth it, as the insurance you will be paying is worth more than the car.

Solutions to these high premiums include the following:

Make the Call

Sometimes, it can be effective to simply call your insurance agent to downgrade you from a high risk driver. In this manner, the need for cheap high risk auto insurance could become a thing of the past.

The Variable Deductible

Raising your deductible in order to lower your premium can also be effective. This works because by raising your deductible form perhaps $500 to $1000 dollars you may be able to lower your monthly premium anywhere from 10% to 30%.

3 Strikes

If you effectively get denied 3 times by various insurance company you are still required by law to carry insurance and can appeal to your state or provincial government to carry high risk auto insurance coverage with an appointed insurance broker for a rate that you will be able to sustain.

The best thing to do if you are in the category of high risk is to stop looking for a cheap high risk auto insurance for high risk drivers, and focus on lowering your risk status.




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