Having car insurance surely protects drivers financially from any unexpected events. However, the recent problem is that car insurance for poor credit requires a higher cost. Since insurance premium is decided through a lot of considerations, let us provide you with several insurers who can adjust to your situation well.
What is Car Insurance for Poor Credit?
Drivers do not need to think a lot about their car’s coverage and protection when they have already purchased car insurance. Unfortunately, it can turn out to be a big deal when the cost is more expensive. Drivers are obviously under higher pressure if their monthly income is wasted a lot on insurance payments only.
That is why we provide you with more information about car insurance for poor credit. Hereby, drivers with poor credit can manage their monthly income well, without having pressure on insurance bills. Finally, let us guide you to evaluate, compare, and decide what insurance company that offers suitable rates for you.
Best Insurers Recommendation of Car Insurance for Poor Credit
The primary purpose of car insurance for poor credit is not only guaranteeing your car’s protection financially but also how you can save your money as well. When you can do it equally, insurance will not be a big problem that you need to avoid its purchase every month. So, hopefully, these suggested insurers can save you best.
1. Geico
When it comes to the cheapest rate of car insurance for poor credit, we undoubtedly say that Geico tops the list. One of the reasons why Geico makes it the best among others is because they are open for drivers who have a low credit score, which is under 580. Therefore, those categorized drivers will be financially safe under Geico.
In addition, compared to drivers with good credit history, Geico only makes the cost higher by around 34%. Another data that supports this fact is from the rates themselves. If we see from the monthly average premium, it starts from $212. This is absolutely the most affordable rate compared to other large insurance companies.
Finally, in terms of online customer satisfaction surveys, Geico places the second position in the United States, exceeded only by USAA. It scores almost 9 points out of 10. So, those reasons make Geico to be one of the most recommended insurers for those, who own car insurance for poor credit.
2. State Farm
The next one, you may choose State Farm. What makes States Farm the best choice for car insurance for poor credit is the number of agents they have. This insurer has been established for about a century in the United States. The company grows well as agents increase every year all over the country.
Thousands of agents under State Farm management enable prospective customers to have a lower rate. Moreover, you may also get a discount for a particular package purchase. In terms of customer satisfaction, State Farm is also well recognized by winning an award, such as the best car insurance company for high-risk drivers.
Moving to the cost itself, what State Farm offers is actually not cheaper than Geico. However, this cost is negotiable since you may reach this insurer through their agents to have a negotiation. In detail, drivers with poor credits are required to pay about $241 monthly.
3. Farm Bureau
It is kind of not surprising when you see Farm Bureau on the list because they do really make it. Farm Bureau serves a very low rate of car insurance for poor credit that is compatible with others, especially Geico. What makes this insurer possible to be your top choice is because of their simple requirements.
At the initial process of registration, the insurer will offer an annual fee of membership for all customers. However, the nicest thing is you are allowed not to pay it and it does not affect your insurance rate or services. Then, how much is the Farm Bureau rate?
Still, even though Geico is the cheapest among all so far, the Farm Bureau rate is also considerable. Drivers with poor credit will pay premiums starting from $217 monthly. Compared to policyholders with good credit, it is once again similar to Geico which has raised above 30%.
4. Mapfre
Missing Mapfre is the biggest regret since this insurer really makes into car insurance for poor credit list. The Mapfre agents are also spread over the country with almost no complaints from customers, especially those with bad credit. Then, can we say that Mapfre has the cheapest rate now?
Based on the latest data, Mapfre requires policyholders with poor credits to pay approximately $125 per month. This rate is obviously much cheaper than Geico. Hereby, policyholders can save more money and not worry about their income will be wasted for insurance only.
Unfortunately, the fact shows that Mapfre is only available in 18 states only from Arizona, and New York to Vermont. Meanwhile, Geico dominates all the states so they are more reachable.
5. USAA
The final insurer on the list, we have USAA. The most reliable and trusted car insurance for poor credit by special Americans. Why is it called special Americans? For your information, even though USAA names itself as the most trusted and reliable one, the fact says that they are only available for the military community.
This means the company only serves customers who are active and retired already from the military, including their family members. The other plus point is, USAA expands big relations all over the states, and Washington D.C. Talking about the rates themselves, they tend to offer very cheap ones although they are so exclusive.
Policyholders with poor credits should pay an insurance premium starting from $162 monthly. This number should be unbeatable since they are everywhere. Unfortunately, ordinary citizens are not eligible for it. However, USAA never fails to gain much good attention when they always top the customer satisfaction survey.
Which Company Offers Car Insurance for Poor Credit the Best?
After learning about all companies, you already know what are the plus or minus points of each. Having poor credit is indeed an obstacle, but deciding which company that offers car insurance for poor credit the best is your right. Make sure to adjust to every current situation and purchase the suitable one.
