If you’re looking for a new auto insurance policy, you may have come across the term “non-standard insurance.” What does this mean? Non-standard insurance is simply a category of auto insurance especially for people who are considered higher risk by insurance companies. According to some studies non-standard car insurance makes up 20-40% of the market. This group of people is growing all the time.
Why You might need a Non-Standard Insurance Policy
Some reasons you might need a non-standard auto insurance policy include:
- You have multiple violations on your driving record.
- You have serious violations, such as driving while intoxicated (DWI) or driving under the influence (DUI), driving with a suspended license, reckless driving, or a major (more than 16 miles over the speed limit) ticket.
- You must carry an SR-22.
- You have recently had a serious auto accident.
- You have bad credit or a lack of credit history.
- You drive a specialized or expensive vehicle, such as a high-powered sports car or custom-built car.
- You’ve never been insured or you have had a lapse in your coverage.
- You are a teenager or a senior citizen.
- You have had your license suspended or revoked.
Quality Insurance Options
“Non-standard” does not mean “sub-standard”—the term has nothing to do with the financial health of the insurance company or the coverages it offers. Non-standard companies must follow all state laws and regulations. They offer the same types of coverage that standard ones do, but to a broader range of potential customers. Some insurance companies specialize in non-standard insurance, while others offer both standard and non-standard policies.
Non-standard insurance usually offers higher risk drivers better coverage at a lower price than a state-assigned risk pool, the other option open to drivers who do not qualify for standard insurance policies.
You don’t have to fall into one of the above-listed categories to purchase a non-standard policy. Generally, non-standard policies cost more than standard ones (because of the perceived higher risk factors), but occasionally they will offer a more competitive rate than a standard policy. It’s a good idea to check with your independent insurance agent who will be able to help you find the option that is best for you.
Let L & M Insurance Group Help with Your Auto Insurance Quote
L & M Insurance Group, Inc., offers auto insurance policies and carriers with rates in all tiers including preferred, standard, non-standard, and specialty. We are located in Riverview, Florida and proudly serve Tampa, Brandon, Ruskin and the entire state of Florida. We offer the lowest rates, best payment options and exceptional service of any agency in east Hillsborough County. Please call us at 813-672-4100 or contact us to get started on your free no-obligation quote.
