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If you are a driver who has quite a few tickets and possibly an accident or two racked up on your record, you may be known as a high-risk driver. Being a high-risk driver means that you are going to have some trouble getting auto insurance that is affordable, or it could even be a barrier for an insurance company to be willing to insure you.
A high-risk driver is defined as a driver who presents a high probability of having an at-fault accident in comparison to other drivers on the road. The designation can usually be determined by a variety of factors:
What does it mean to be designated as a high-risk driver?
Being considered a high-risk driver by car insurers can cause a driver a lot of trouble.
Even if a driver is insured with his or her company while coming to be considered a high-risk driver then your insurance company could refuse to renew your policy, even if you have been with them for a long time.
If you are out an insurance company it could be tough to find another insurance company that willing to insure you as a high-risk driver. Usually, those who are seen as high-risk drivers pay a much higher premium than those who don't have that designation.
On average, a person with a high-risk designation could pay up to 25% more on car insurance than her counterpart who is considered a low-risk driver. Keep in mind that car insurance premiums vary across provinces and the amount of increase paid for high-risk drivers probably varies.
Links
Insurance for High-Risk Drivers: Who Needs it and Why?
Sources
https://insureye.com/high-risk-auto-insurance-canada-everything-need-know/
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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