How Much Of Auto Insurers Make Up For Non Standard

Non-Standard Auto Insurance – What Role Does It Play?

Auto insurance is a necessary part of life for anyone who owns a vehicle. This means that most people are aware of the standard auto insurance policies that are available. But what about non-standard auto insurance? What role does it play in the industry?

What Is Non-Standard Auto Insurance?

Non-standard auto insurance refers to policies that are tailored to meet the specific needs of high-risk drivers. These drivers typically have a history of not following the rules of the road, whether that means having multiple speeding tickets or DUIs on their record. As a result, standard auto insurance companies are not willing to provide them with coverage, so they have to turn to non-standard auto insurance companies instead.

Non-standard auto insurance companies are willing to take on the risk associated with these high-risk drivers. However, they do so at a premium. This means that these drivers can expect to pay much more for their auto insurance than those with a clean driving record.

How Much Of The Auto Insurance Market Is Non-Standard?

Non-standard auto insurance makes up a significant portion of the auto insurance market. According to a report from the Insurance Information Institute, non-standard auto insurance accounted for 10.3% of the auto insurance market in 2018. This means that over $30 billion dollars worth of auto insurance policies were issued in this category.

Who Offers Non-Standard Auto Insurance?

There are many non-standard auto insurance companies that specialize in providing coverage to high-risk drivers. These companies vary in size and scope, but they all offer the same basic coverage. Some of the more well-known non-standard auto insurance companies include GEICO, Progressive, and Allstate.

How Can I Find The Best Non-Standard Auto Insurance?

Finding the best non-standard auto insurance can be a challenge. It’s important to shop around and compare different policies from different companies in order to find the one that best fits your needs and budget. Additionally, it’s important to read the fine print and understand what is and isn’t covered by the policy. This will help ensure that you have the coverage you need in the event of an accident.

Non-standard auto insurance plays an important role in the auto insurance industry. It provides coverage to those who may not otherwise be able to get it. It’s important to understand how much of the auto insurance market is non-standard and who offers it in order to make an informed decision when shopping for auto insurance.