The cost of auto insurance can fluctuate for many reasons, but primarily premiums are based on risk. Automobile accidents, insurance claims and moving violations are recorded on a motorist’s driving record, which is used by insurers to calculate coverage costs. Vehicle owners who maintain clean driving records and demonstrate a small chance of filing a claim in the near future typically encounter lower rates. High-risk drivers, however, are usually charged more for vehicle coverage.

When a motorist is statistically more likely to file a claim in the future, insurers raise premiums to compensate for the possibility of economic loss. There are many different reasons why a motorist would need to purchase high risk car insurance instead of low cost coverage, but while in the non-standard market, drivers can often take advantage of several adequately priced options. Although many insurers specifically target motorists in the preferred or standard markets, higher-risk insurers or state run programs may offer affordable alternatives.

Insurance companies often rely on unique methods for rating motorists. As a result, prices can fluctuate significantly between insurers. For higher-risk drivers, this can translate into lower rates or more reasonably priced options. To efficiently shop around, motorists should compare quotes online. The Internet can produce dozens of estimates from one website, giving vehicle owners the ability to quickly search for the lowest prices available.

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