Why is car insurance for convicted drivers so expensive?
Published Wed, Nov 21, 2012 Updated Tue, Feb 16, 2021
There are a few reasons why convicted driver’s insurance is so expensive. First of all, remember that insurance is all about risk. Insurance companies weigh up how big of a risk you are and try to estimate how likely you are to make a claim and also how expensive such a claim might be for them. Convicted drivers are generally assumed to be a higher risk than normal drivers for a number of reasons. Firstly convicted drivers have already been shown to drive irresponsibly at least some of the time and it is therefore assumed that they may do so again. Insurance companies also use statistics to predict risk Convicted drivers don’t always reoffend and you might well be one of the ones who from here out becomes a very safe driver. Unfortunately, on average convicted drivers are much more likely to get further penalties in the future; compared to non-convicted drivers that is. Cost of claims If you have been convicted in the past you might well also pose a higher risk in terms of claim value. Drink drivers in particular often drive much fast and have slower reactions, the result of which is that any collisions caused are likely to be at a higher speed and cause more damage to both vehicles and people. How to reduce your premiums If you have been convicted or even banned from driving in the past then you will unfortunately find that your insurance is much more expensive when you come back to driving and you may also find that any no claims bonus has expired. The only way to dramatically reduce your costs is to drive a very small and safe car for a couple of years and over time your premiums will come down. There are also insurance deals becoming available where your car is fitted with a tracker – these policies could potentially offer a way for convicted drivers to save money by driving responsibly and safely.