High risk auto insurance - St. Louis, MO

The realization that one needs high risk auto insurance is never a pleasant one. Many drivers go for years without any significant problems, but then a serious accident or a DUI can cause one to quickly drop into the high risk category. For those who are parents of young drivers, a few mistakes by teenagers can easily cause an entire family’s policy to fall into this category. There are many factors to consider, however, when one is forced to buy high risk auto insurance.

Limits of Coverage

Many leased autos come with certain policy limits that have to be met. If a lease contract requires $300,000 of liability coverage, high risk auto policy buyers must make sure that their new policy limits match the lease requirements. A policy with large liability limits may be very expensive.

Payments

Standard policies usually have a grace period if a payment is accidentally lost or forgotten. This luxury may not exist with a high risk policy. A late payment may be cause for instant cancellation. A returned check may not cause much trouble if one has a standard policy, but again, it may cause rapid cancellation in the high risk arena.

Drivers

High risk insurance policies may severely limit who is covered if they drive the insured’s auto. While standard policies usually cover anyone who has permission to drive, high risk insurance may only cover the main driver of the insured vehicle. If someone else drives a vehicle covered by a high risk policy they may be held personally responsible if they are involved in an accident.

SR22s

An SR22 is an insurance policy that is issued along with a certificate that goes directly to the secretary of state. It allows the state to be informed at all times if the policy has been cancelled. SR22s are usually required if one has had a DUI, or has been caught driving without insurance. Again, be careful concerning SR22 limits, as they may be much smaller than traditional policies.

Where to Get It

While standard coverage is universally available everywhere, high risk policies may be harder to find. Start shopping online and be sure to compare different policies offered as prices may vary greatly.

While any driver would rather be eligible for standard insurance, high risk insurance may be necessary during one’s driving career. If a driver does exhibit a clean driving record in the future, it is highly probable that they will again be able to obtain regular insurance with good limits at a reasonable price. Due diligence is extremely important when considering any auto insurance policy.