google bot detected Automobile Assigned Risk Insurance Plan | Insurance Glossary | Realestateagent.com

Automobile Assigned Risk Insurance Plan


Definition of "Automobile assigned risk insurance plan"

Sharon Dolezal
  Coldwell Banker

Coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving records, are placed in a residual insurance market. Insurance companies are assigned to write insurance for them, at higher prices, in proportion to the premiums written in a particular state. These plans protect motorists who suffer injury or property damage through the negligence of bad drivers who otherwise would not have insurance.



Related Real Estate Glossary terms

Related Real Estate FAQ