If your auto insurance canceled your policy because you were involved in an accident and are now rated "high-risk" for another claim, then you can expect to pay more for your next policy. Auto insurance companies use a rating system similar to credit scoring to technologically generate your risk rating for future claims. If your insurance company has rated you as high-risk, then you should assume you are in the rating system's computer now as such.
- If you are looking to reduce your monthly expenses, a good place to start would be any active insurance policies that you carry. If you own or lease a vehicle, your auto insurance policy could represent a good opportunity to save a few dollars. Here are three tips that could help you lower the monthly premium on your auto insurance. Set a Higher Deductible for Collision Coverage If your car is new, you are likely interested in keeping your deductible as low as possible.