When looking for car insurance cover, you may find that your quote may be different from what friends, family, and neighbors could be getting for similar vehicles. Theirs might be significantly cheaper than what you’re being told you have to pay – so why is that the case?

It may be that insurance companies consider you as a high risk driver because of a number of factors, which you may not realize are affecting your vehicle insurance costs. These are some of the more common driver types who may find they pay more; it may be that you recognize yourself in these groups.

You’re a new driver

People with less experience are more likely to be involved in an accident, so insurance companies will try to protect themselves. You’ll need to pay for higher rates as a new driver, no matter how old you are at this point.

You’re in a certain age group

Insurance companies may class you as being high risk because of your age, as drivers in particular age groups have higher accident rates than others. This is the case for those under the age of 25 and over the age of 70. Young drivers have higher accident rates overall, yet the rate of serious and fatal accidents is increased for older ones.

You’ve had an at-fault accident

Your insurance cost will go up if you’ve caused an accident. One at-fault accident may not put you into the high risk category but, if you cause another within the next three years, you could be seen as a high risk driver. The effect on your insurance status may depend on the amount of property damaged and physical injuries caused by the accident.

You’ve got a DUI or DWI conviction

Being convicted of DUI (which is driving under the influence) or DWI (driving while intoxicated) will mean you’re considered a high risk driver for three years. This will increase your insurance cost.

High risk drivers can still get car insurance through brands such as Home Canada Financial. It means you may get coverage for your vehicle despite your insurance status or group.

You’ve had a ticket

Getting a ticket can be a concern, especially if you’ve got one for a serious violation. You could be seen as a potentially dangerous driver if you’ve had a ticket for reckless driving or speeding, for example. You can be a concern for insurance companies because they’re more likely to have to pay out on policies – and they’ll be exposed to financial risk.

You have a certain type of vehicle

If you have a sports car, for instance, then you might have difficulty in getting insurance because you’re seen as a high risk driver. Your vehicle is more likely to be stolen, and insurers may feel your choice of car could mean the likelihood of getting into an accident, and speeding increases.

If you recognize yourself in any of these groups, then you may be considered a high risk driver by insurance companies. Yet there are options for vehicle cover and may improve over time.

By Erica Buteau

Change Agent. Daydream Believer. Maker. Creative. Likes love, peace and Jeeping. Dislikes winter, paper cuts and war. She/Her/Hers.

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