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June 6, 2013

Learn How to Save Money on Your High-risk Insurance Policy

Illinois high risk car insurance is issued to individuals who do not qualify for a regular full insurance or limited liability insurance policy. This may be due to having several moving violations, getting into more than a few fender benders or for violating the conditions of the insurance policy. Because a high-risk policy is so expensive, people try their hardest to avoid this type of coverage. However, if you fall into the high-risk category, it’s either high-risk insurance or no coverage at all. If you’ve been issued a high-risk policy, there are ways you can decrease your premium.

Add safety devices to your car

Adding safety devices to your car such as a car alarm or special security locks can dramatically decrease the monthly premium for your insurance policy. The reason why this works is that putting safety devices on your car makes it less likely that you will make a claim, thus costing the insurance company less.

Obey the law

One way that you can get your insurance premiums to go down quite quickly is to make sure you don’t get moving violations, especially if your first insurance policy was revoked for this reason. Your insurance company will keep a close eye on you and your claims while you’re under a high-risk policy. However, if you obey the law and don’t get any moving violations or tickets for anything, even parking illegally, your insurance premium will decrease for your next coverage period.

Pay attention to the small print

Read your insurance policy carefully and make sure that you’ve taken note of all exclusions and any kind of clauses that state what items will violate your policy. Stay away from these items as much as possible while under coverage. Violating an insurance policy will not only land you in the high-risk category, but it may actually make it impossible for you to get any insurance at all. If you obey the terms and conditions of your policy, you should see a slight decrease in your premium over time. 

As you see from the above three tips, there are ways for you to save money on your high-risk insurance policy. High-risk insurance will always be more expensive than regular coverage, but you are in control  of most risk factors and can make changes to move yourself out of this category. For more information on how you can reduce your premium for a high-risk policy, give Cloverleaf Insurance a call at 800-530-5822.

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