High Risk Auto Insurance
- Automotive insurance available to drivers with poor driving records. Due to an increased risk of liability, insurance premiums for high risk auto insurance (also known as "nonstandard auto insurance" or "substandard auto insurance") are typically more severe than the premiums charged to drivers with better driving records.
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Related Terms and Acronyms
- Automobile Liability Insurance — Definition,
- Insurance coverage for damages caused in traffic collisions.
- Blanket Insurance — Definition,
- A form of insurance that covers multiple different classes of property with one policy. Homeowner's insurance, for instance, not only covers damages to the insured home, but also the contents of the home.
- Broad Form Insurance — Definition,
- Insurance that covers rare events not normally covered in an existing insurance policy.
- Collision Insurance — Definition,
- Auto insurance that provides coverage for damages to the policyholder's vehicle in the event that the policyholder is at fault in a traffic collision.
- Comprehensive Insurance — Definition,
- Auto insurance that covers damages not resulting from a collision, and for vehicle theft.
- Preferred Auto — Definition,
- Auto insurance for those with better driving records.
- Private-Passenger Auto Insurance Policyholder Risk Profile — Definition,
- A system for sorting drivers by their driving records and how likely they are to cause a loss for an insurance company.
- Risk Class — Definition,
- A number of people who are grouped together because they pose similar levels of risk to an insurance company.
- Standard Automotive Insurance — Definition,
- Auto insurance that covers those with average driving records.
- Substandard Insurance — Definition,
- Insurance for those who are ineligible for standard insurance due to higher risk profiles.
- Underinsured Motorist Coverage — Definition,
- Auto insurance that covers damages when the other driver in a collision is at fault but does not have sufficient insurance coverage.
- Uninsured Motorist Coverage — Definition,
- Auto insurance that covers collision damages caused by a driver without auto insurance.