Taking your car for a spin? You could be refused coverage if you have had too many accidents. It pays to drive carefully as too many accidents could mean no coverage at many institutions. This is particularly true if the insurance company assesses you as a high-risk driver.
What determines you to be a high-risk driver?
There are a number of parameters at which these insurance companies make their assessments. Some of them include making too many traffic violations, having a serious or injury-causing accident, poor scores on your driving license credit system and lapses in paying for car coverage could all mean refused coverage.
Insurance companies are not obliged to extend an insurance policy to car owners simply because an application is made. They regularly assess the risk that the driver possesses before extending coverage.
If you seem to have excessive claims or even if you have a change in life-situation that could make you uninsurable, you will be denied. And if you are accepted, it is very likely that these insurance companies will pile on additional premiums for the higher risk they are absorbing, and you could be refused coverage.
Being denied insurance can also occur in a situation where you have made a fraudulent claim. The bottom line is that if you are making traffic accident or any other claims, is to be as honest as you know. If your claim is assessed to be false, you may have to face your insurance being rejected and pulled altogether along with your claim, meaning you are refused coverage completely.
Are you refused coverage?
So you’re in a pickle. Your car has been in a few road accidents, and insurance companies are shutting their doors to you. How do you keep your car insured, and therefore on the road? While you have been flagged as high-risk, and it might be harder to obtain auto insurance, there’s no reason to lose heart and think you will be refused coverage indefinitely.
Surprisingly there are a number of people who may fall somewhat slightly unfortunately into this bracket. And it’s no fault of yours. Accidents just happen, when you’re least expecting them to. It’s been raining accidents in your street.
What could have been a disconcerting affair of trying to get someone to insure your car, can turn out to be a pretty good deal instead if you know where to look. Think aside of getting insured by the big names in the business and paying an arm and a leg for your fleet, companies such as Insurance Market can offer insurance at a reasonable coverage specified according to your needs.
It’s time to reach your inner zen. Gain your coverage at a value-for-money level based on your personalised needs. On top of that, we help you with your admin. We do that by storing your new policy in your own online account, available to you anytime anywhere.
And even if you are not a high-risk driver, and are safely insured, do note that insurance premiums change constantly and insurers will compete for different profiles of drivers in order to balance their risk portfolio.
Therefore, your current insurer might not be able to give you the best premium. Insurance Market helps you to save money or get better terms on your motor insurance by comparing quotes instantly.
Insurance is a highly competitive business, and most people can choose amongst many companies. If you’ve been assessed as a high-risk driver and want to have a way of comparing your car insurance quotes according to value vs. cost, Insurance Market can help you.
Continue reading: The top six reasons why car insurance claims are rejected
So if you are one, or know a high-risk driver, take heart or share with them that all is not lost. It’s just important to know the right insurer who will take on what exactly you need. But do drive more carefully, that’s our last word.