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What can I do if I can't find coverage?
There may be
several reasons why you can’t get insurance through traditional private
insurance companies:
- You have a poor driving record
- You own a special, high performance
car
- You have not driven long enough
- You have not owned your car very
long and therefore have no insurance record
- You live in an area where theft and
vandalism losses are high.
In this case, you have two options:
- Join a state assigned risk pool.
State assigned risk pools operate under a system in which every auto
insurer participates in proportion to the amount of business they do in
that state on a voluntary basis. Each insurer must accept the motorists
assigned to it, retaining the profit or absorbing the loss that comes
with that customer. The premiums you will pay will be substantially
higher under assigned risk pools than directly with a private insurance
company, but at least you will be able to obtain coverage. To find the
assigned risk pool or the equivalent in your state, ask your insurance
agent or the state insurance department.
- Get a policy from a private
insurance company that specializes in “high-risk” drivers.
You may find a better deal by checking with a private insurance company
specializing in “non-standard” auto policies. These companies write
policies for people with bad accident records, high-performance cars,
or who live in “high-risk” neighborhoods. These companies also may be
able to sell you more comprehensive coverage than is available through
assigned risk pools. To get a list of companies selling non-standard
insurance, contact your insurance agent, state insurance department
or Roughnotes ( http://www.roughnotes.com
). They will refer you to insurance brokers selling this kind of
insurance.
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