How to Save on High-risk Auto Insurance in Colorado

If you have a spotty driving record or a history of insurance lapses, you may have to purchase a high-risk auto insurance policy. These policies typically come with higher premiums, but there are still several strategies that may help you reduce costs without sacrificing necessary coverage. Here’s how drivers in Colorado can save on high-risk auto insurance while still getting the coverage they need.

What Is High-risk Auto Insurance?

High-risk auto insurance is designed for drivers who are considered more likely to file a claim or who have difficulty obtaining coverage through standard insurance providers. It may also be extended to drivers who are most likely to file a claim.

Every insurer has its own criteria for classifying a high-risk driver. You may be classified as high-risk if you have:

• One or more DUI convictions

• Multiple traffic violations or speeding tickets

• An SR-22 filing requirement (typically due to license suspension or DUI)

• A vehicle with a salvaged or rebuilt title

How to Save On High-risk Auto Insurance

While being tagged as a high-risk driver is daunting, here are some ways your premiums may still be lowered:

• Shop around and compare rates. Insurers calculate risk differently which means prices may vary. Some insurers also specialize in non-standard policies and may offer better rates. Ask your family members, get a quote from an agent or use online comparison tools before purchasing a policy.

• Raise your deductible. Having a higher deductible may significantly lower your premium.

• Look for discounts. Ask the insurer if they offer discounts when you pay in full or if you bundle an auto and homeowners policy together.

• Improve your driving record. Observing proper driving behavior and following road laws may help you get reduced rates or secure a standard policy in the future.

• Reduce coverage on older vehicles. Older vehicles typically do not require high premiums. You may also drop certain riders like comprehensive or collision coverage.

• Maintain continuous coverage. Canceling your policy or having a lapse in payment may lead to higher premiums. Pay your fees annually or opt for flexible payment schedules to maintain coverage.

Where to Get High-risk Auto Insurance

A high-risk auto insurance policy may be costly, but that doesn’t mean you won’t find an insurer that will fit your financial needs. Contact Infinite Insurance & Services, LLC today for a personalized quote or to learn more about our auto insurance offerings.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.