Key considerations for high-risk drivers

Insurers take a number of factors into account when setting rates. If you have a lapsed policy and a bad insurance credit score, you'll probably pay much more than someone with a lapsed policy and a healthy credit history, Suarez says. "It's a combination of elements that would make the difference."
The rate you pay also depends on the insurance company you choose. A company that provides coverage to just a few high-risk drivers will generally charge you more than a company that specializes in providing insurance to high-risk drivers, Gusner says. Typically, car insurance companies that cater to high-risk drivers offer more bare-bones coverage, for instance, only covering named drivers on a policy, which helps keep their premiums in check.
Don't count on your insurance company to let you know that you've moved to a high-risk category—or that you've moved back out again. "A lot of high-risk drivers probably don't even know they have a non-standard policy," Gusner says. So be sure to check on your status with your car insurance company.
Although you're no doubt eager to move to a standard insurance policy, there's no way to hurry the process along with your current insurance company. "Each insurer will have its own surcharge schedule and driver tier and length of time you need to show improvement to move to a better tier," Gusner says.
If you're faced with higher premiums, there are still a few things you might be able to do to take a bit of the sting off—take a driver's improvement course or pay your policy in full. Those discounts can "help balance out the surcharges associated with the DUI, bad credit, lapse in insurance or bad driving record that is making you a high-risk driver," Gusner says.

Additional information:

Special Reports /

Bumpy past? How to climb out of the high-risk driver group

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