As Americans are already coping with several various forms of rising prices across the board, the monthly expense of auto insurance is no exception. Many different factors can cause you to be classified as high-risk, which will unfortunately raise your monthly rates. Thankfully, we have coverage options to see you through tough times!
We put together a list of our best high-risk insurance companies for 2023. Each company has specific traits that appeal to different types of drivers, and allowing us to filter through them for you will assure that you find the perfect match!
Progressive always remains high on our list due to the discounts they offer for taking defensive driving courses, and their usage-based programs that result in lower rates. They also offer some of the best rates for drivers over 70 and are a time-tested and award-winning insurance company. AARP provides some of the most thorough defensive driving classes, and Progressive is an entity that is happy to provide incentives for completing them.
For drivers that have not had an accident in three years, Progressive has a track record of charging after 31% less than other types of coverage, freeing up more money for your other monthly expenses. Progressive’s Snapshot program keeps an eye on your driving habits through an installed device, and responsible driving will earn you discounts. If you have tickets, not the greatest credit, or DUIs on your record, Progressive will offer incentives for actions such as selecting a safer vehicle.
Travelers Insurance has an excellent focus and solid foundation that helps teen drivers, as they know full well the cost to insure someone under 25. Travelers proudly provide more student discounts than any other company out there and will offer sizable discounts for driving a car with outstanding safety ratings. Travelers offers great binding options for home or renter’s insurance with auto, and has very high-tech tools to help you track payments and keep multiple policy layers organized.
Directly on their website, Travelers proudly claims to insure those who are inexperienced and have a poor driving record. SR-22, gaps in insurance history, and driving sports cars are issues Travelers is known to handle well, with a sense of lenient demeanor and urgency. High-risk factors sometimes depend on how far back an insurance company looks in your record, and how much time accrued points stay on your license history. Even factors such as renting instead of owning a home affect your rates, and Travelers is known for a high level of understanding of the current economy.
Nationwide has long been the choice of many drivers in need of SR-22 and FR-44 forms. Even the most cautious of drivers can still end up with the occasional speeding ticket if they happen to be in a hurry, and Nationwide offers a range of discounts for those who have encountered this misfortune. If you have speeding tickets but do not have any accidents, Nationwide has taken it upon themselves to offer affordable rates in more instances than any other provider for those with tickets.
Nationwide is always worth a quick check to see if they meet your needs. Their Accident Forgiveness option can be purchased as an addition to your regular auto policy, and can constructively offset the price increase you see on your policy after an accident. Nailing down a “5 out of 5” for overall performance from Nerd Wallet, Nationwide was excellent regarding consumer experience, complaint data from the National Association of Insurance Commissioners, and financial strength ratings.