Finding Cheap Car Insurance for Drivers Who Have a Bad Record

June 25, 2013

Cheap car insurance for drivers, or rather low cost car insurance for drivers with bad driving records may be found. Finding this type of coverage however, does take some work on your part. There are not a lot of insurance companies that are willing or capable of providing for the risks associated with bad drivers. This presents a bit of a catch-22 for a driver with a bad record since many jurisdictions require motorists to have insurance in order to operate a car.

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You should be leery of sites online or ads you read in a newspaper that promise "cheap" car insurance regardless of your driving record. Auto insurance is based on your driving record among other risk factors evaluated to price the risk for the insurance company. Your rates will obviously go up if you have had a lot of car accidents, speeding tickets or even engage in certain risk behaviors such as drunk driving.

Determine How Much and What Type of Coverage you Need

The first thing to do when looking for low cost insurance for your bad driving record is to think about the amount and type of insurance you need. You may be able to get by with a small policy for $25,000 or $50,000 of risk that does not have all of the bells and whistles your old coverage had when your driving record was still good. This includes settling for a limited liability or collision only coverage as opposed to a policy that has comprehensive coverage; including medical coverage for you or a passenger if you were to end up in a serious auto accident.

As much of the frills you can cut out of the policy will help lower costs, and find a reputable insurance company that not only sells "cheap" insurance, but good insurance coverage.

Take a Higher Deductible

Instead of taking on a lower deductible which will translate in higher premiums for you because of a bad driving record, take on a policy that has a higher deductible. This higher deductible should be relative to what you can afford should you wind up in an accident and not be based solely on the lowest possible rate. You should have an emergency savings or other source to fall back on in the amount of the high deductible you accept for this low cost insurance coverage.

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Purchase SR-22 Coverage

If permitted and if the extent of your driving record requires this, purchase a SR-22 policy. This coverage is state mandated, typically required of drivers with multiple traffic violations or those running the risk of losing their license. This coverage only meets the needs of the person who you may end up in an accident with, and not necessarily meet any of your insurance needs. Though, based on a bad driving record, it might be the only coverage you can obtain.