It can be tough to find cheap auto insurance with a bad credit score. Auto insurers rely on credit score as a major rating factor, setting policy prices based in part on clients' credit scores. Because auto insurance companies use historical data that show clients with bad credit are more likely to file car insurance claims, they compensate for that added risk by charging more.
Car insurance rates with bad credit depends on where you live, which insurance company you use, and a variety of other factors. We've gathered below typical insurance prices for drivers with bad credit in major Connecticut cities and rates from top insurance companies, , along with tips on saving on car insurance with bad credit in Connecticut.
Connecticut drivers pay an average penalty of $1,358 annually for having a credit score in the “worst” tier. A driver in the "poor" or "below fair to poor" credit tiers will also face a penalty.
|Credit Tier||Average Annual Rate in Connecticut|
|Below Fair to Poor||$2,409|
|Average — All Credit Tiers||$1,544|
Your auto insurance rates will also depend on the precise area in which you drive. Insurance companies use your ZIP code to better understand how likely you are to file a claim: the more claim-prone your area,, the more expensive your rates.
See below major Connecticut cities and their average car insurance rates for drivers with bad credit.
|City||Average Annual Rate — Worst Credit||Average Annual Rate — Poor Credit||Average Annual Rate — Below Fair to Poor Credit|
Another contributing factor to how much you pay for auto insurance is the insurer you select. Each and every auto insurance company rates policies differently, giving rating factors varying weights in their calculations. Credit is often a primary pricing differentiator between otherwise-similar car insurance companies. In Connecticut, the cheapest insurance company for a driver with a bad credit score is GEICO, which offers a price break of $312 yearly over the second-cheapest company, State Farm.
See prices from popular car insurance companies in Connecticut for drivers with bad credit.
|Company||Average Annual Rate — Worst Credit Tier|
If you’re facing the prospect of purchasing auto insurance with a low credit score, keep these tips in mind: