High Risk Auto Insurance

Definition

  • 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.

Synonyms
high risk automotive insurance, substandard automotive insurance, substandard auto insurance, nonstandard automotive insurance, nonstandard auto insurance

Alternate Spellings
car insurnace

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.
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