|
Assigned risk plan is an auto insurance policy in which licensed individual drivers are unable to purchase auto coverage through regular "Voluntary Market" usually because of adverse driving records, due to their accident history or first time drivers. They are placed in a residual insurance market and auto insurance companies write auto policies for these drivers, at the higher prices. This protects those motorist considered good drivers who suffer injury or property damages through the carelessness of bad drivers who otherwise would not have auto coverage.
See also:
policy territory
split limits
|
