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What is high-risk insurance?

Automobile insurance is required for everyone who drives in Washington, but some people may find it difficult to get coverage, depending on many factors. You may have been told that you need high-risk insurance, which can be frustrating and expensive. You may also want to know what, exactly, high-risk insurance entails.

As NerdWallet explains, the need for high-risk automobile insurance does not necessarily mean you are a bad driver or an irresponsible person. High-risk insurance simply means that ordinary insurers consider you a financial risk. You may be considered high-risk for a certain period of time before you are able to obtain normal insurance again. You may even be required to get this insurance for reasons out of your control. For example, you might not have had a vehicle for a few years, so you did not have insurance – insurers may consider this a lapse in coverage. Or, you may have been involved in numerous accidents, regardless of fault.

Other reasons you may need high-risk auto insurance include having poor credit, being newly licensed, having too many tickets or at-fault accidents, getting a DUI conviction or owning an exotic vehicle. Drivers over a certain age may also need to obtain high-risk insurance.

As with many auto insurance companies, high-risk insurers are not without complaints against them. The most common complaints against these types of insurers include claims denials, settlements or offers that were too low and delays in processing claims. Therefore, it can help to research your options if you are required to get high-risk insurance. This information should not replace the advice of a lawyer.

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