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Understanding How High-Risk Drivers Impact Insurance

Posted Sep 12th, 2018 in Media, General, Insurance Tips, Auto Insurance, Did You Know?, In the News

If you’re a high-risk driver, chances are you are paying more for your insurance because of your driving experience and history. 


Understanding How High-Risk Drivers Impact Insurance, Youngs Insurance, Ontario

Insurance companies rate drivers on the likelihood that they will be involved in an at-fault accident.  The higher the likelihood of this happening, the bigger the risk the driver poses to the insurer.  In order to determine risk, drivers are rated on various factors.

What Makes You as a High-Risk Driver?

  • having an at-fault claim on your policy
  • having serious infractions on your record like impaired driving or distracted driving
  • driving a car with a lower safety rating
  • driving a vehicle with a higher theft rate

Insurance for High-Risk Drivers

There are consequences for high-risk drivers that include paying a higher premium for auto insurance or being denied coverage at the time of your renewal.  Insurance companies predict that high-risk drivers are likely to experience a significant loss which means a costly claim that they have to pay. 

What You Can Do

The most important thing you can do so you’re not considered a high-risk driver is to become a safer driver and you can start by slowing down and observing the speed limit. Also, don’t be a distracted driver - being extra cautious on the road means you’re paying attention and that alone makes you a safer driver.  You may even want to check out smartphone apps such as DriveWell that can provide you with data based on your driving.

We hope you found this information helpful and we hope that you will become a safer driver – not only so that you and those around you stay safe but also so that you don’t have to pay higher insurance premiums. 

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