9 Lessons Learned:
Insurance companies will always provide their services to you depending on how risky you are. Insurance companies always treat those who prove to be risky to insure as special cases. If you are a high risk then you can expect rejection from many insurance companies as they will not be ready to offer their services to you.
If you are lucky enough to find an insurance company that is willing and ready to ensure your high risks then it will come at a cost of high premiums. This will be because insuring you is very risky to the insurance company as you will reduce the profits they make. How then can you know if you are among those that qualify as a high-risk which requires you to pay more for your insurance premiums.
When you are a young inexperienced driver; then you prove to be a high-risk who will have to pay high premiums to the insurance company. The policies used by insurance companies assume that young and inexperienced drivers are likely to cause an accident and so are a high risk to them. This will then categorize you into these high risk insurance options. You will then be required to pay more like a young and inexperienced driver.
You will be categorized into these high risk insurance options if you have a poor credit score. You can be sure that if you have a poor credit score, you will be classified as a high-risk by any insurance company. This then means that you will only find it hard to be insured by insurance companies.
Another factor that makes you be categorized in these high risk insurance options is if you had a DUI conviction. If you were convicted due to a DUI conviction then expect to pay more insurance premiums. Insurance companies will always do thorough research to establish if you have a DUI conviction which will automatically you place you in these high risk insurance options.
Failing to pay your coverage in good time will also classify you as a high risk to insurance companies. Once you fail to pay your coverage in good time then you can be sure that insurance companies will consider you a high risk. Those who make late payments are booked by insurance companies and regarded as being of high-risk.
Having an exotic vehicle automatically qualifies you as of being a high-risk. Insurance companies consider exotic cars as being expensive to repair. If you happen to have an exotic vehicle, then you will be categorized in these high risk insurance options by your insurance company.