Assigned Risk FAQ's
How long must I stay in the Assigned Risk?The answer to this question has changed dramatically in the last year or so. Since the premiums for high risk business is so expensive, several insurance companies have seen this market as a significant opportunity, thereby making available policies to drivers with little to no experience! It pays to shop for the lowest rate when you are in the high risk bracket- BUT BEWARE. There are many excellent companies that serve as alternatives to the assigned risk plan-usually priced anywhere from 5-25% below the assigned risk.
Do I have to stay with the same company 3 years before I can get out?
Only if you are not eligible for any of the other non-standard insurance
companies. It is to your advantage to request quotes when you receive your renewal policy. Ask any of the brokers on this site if they insure drivers with your record or circumstance anywhere besides the assigned risk.
THE ASSIGNED RISK RATES ARE THE SAME REGARDLESS OF
WHICH BROKERAGE YOU BUY THE POLICY FROM. THE RATES ARE DICTATED BY THE STATE-SO BEWARE!
