Insurance Experts Explain Who Is Considered A High-Risk Driver

LOS ANGELES, Nov. 19, 2020 /PRNewswire-PRWeb/ -- Insurance companies classify drivers into 3 main risk categories: Preferred, Standard and High-risk. Policyholders placed in the third category pay really expensive premiums, to compensate for the higher risk of making a claim or missing payments.

    --  Drivers with a high number of traffic violations are considered
        high-risk. People with multiple traffic violations in the recent 3-5
        years are likely to be placed in this risk category. At-fault accidents
        and DUI/DWI convictions will automatically make a person be labeled this
        way. Investing in Accident Forgiveness programs will help drivers avoid
        rate increases after the first at-fault accident.
    --  Even a lapse in coverage of just a few days will negatively impact
        future premiums. Insurance companies prefer clients that had continuous
        coverage over the course of years. Companies ask about recent coverage
        lapses before issuing coverage.
    --  People with a low credit score are also considered riskier to insure.
        Most insurance companies take into consideration a client's credit score
        when determining rates. Drivers with poor FICO scores should look for
        ways of improving their creditworthiness.
    --  Teens are automatically considered high-risk drivers. Persons between 16
        and 25 years old are considered high-risk, due to their lack of
        experience behind the wheel. However, teens can get a series of
        discounts, like a good student discount or for leaving the car at home
        during the academic year.
    --  Seniors over 65 years old are also labeled "high-risk". According to the
        CDC, there are higher chances of being involved in accidents after the
        age of 65. Diminished sight and hearing, plus medication will impair a
        person's driving capabilities.

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