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Assigned Risk Insurance

Your state requires you to have auto insurance before you can drive your car. Sometimes it is not easy to find a company that will insure you because you are assigned to a high-risk category. The majority of people in an assigned risk category have good driving records, but they are forced into the assigned risk auto insurance plans because they come from a risky group (like young drivers), or because they live in a area where there are a lot of claims. Some high-risk groups are categorized according to the vehicle's chances of being stolen, vandalized or damaged.

Assigned Risk Insurance Explained

If you do have a poor driving record, you might have a problem finding an insurance company that will accept you. Most states have some type of assigned risk auto insurance plan available so that you can get coverage. An assigned risk auto insurance company is an insurer of last resort when no other company will insure you.

How to Obtain Assigned Risk Coverage

To get assigned risk car insurance, go to an agent and apply for coverage. If three companies have turned you down, the agent will complete a form to send to the state telling them that you are a high risk and need assigned risk car insurance.

If you are in an assigned risk category, contact your state insurance department and ask them if they can help you out with the insurance company. You can also try another insurance company to see if they will insure you. You should not assume that because you have been turned down by one carrier that a high-risk auto insurance company is the only choice. Rules for new policyholders can vary widely and change daily as rates and other factors change. If another insurance company will not insure you, try a company that specializes in high-risk drivers. If all else fails, you can be insured by the state assigned risk auto insurance plan.

What to Expect with Assigned Risk Auto Insurance

Generally, if you fall into the assigned risk category, you will be limited to buying the minimum amount of coverage required by state law. The cost of insurance under an assigned risk plan is usually going to be higher, but the plan must accept you. Having insurance coverage at least gives you an opportunity to drive legally and think about what action you can take in the future.

During your time in the assigned risk car insurance "pool", keep doing research and plan so you can find a better policy when your driving records improves. If you keep a clean driving record for a period of three years and send in your premium payments on time, you should be able to get out of the assigned risk auto insurance category and get a better deal.


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