It can be tough to find affordable car insurance if you have bad credit. Auto insurers use credit as a major rating factor, setting premiums based partially on clients' credit scores. Since auto insurance companies rely on data showing drivers with bad credit have a greater likelihood of filing car insurance claims, they account for for that added risk by assigning expensive rates.
How much you pay for car insurance with bad credit depends on which company you choose, where in Illinois you live, and an array of other rating factors. We've gathered below average insurance premiums for drivers with bad credit in major Illinois cities, alongside rates from a few of the most popular auto insurance companies, plus tips on saving on auto insurance if you have a bad credit score in Illinois.
Drivers in Illinois pay an average penalty of $1,257 annually for having a "worst"-tier credit score. Drivers in either the “poor” or “below fair to poor” credit tier will also face a penalty.
|Credit Tier||Average Annual Rate in Illinois|
|Below Fair to Poor||$1,937|
|Average — All Credit Tiers||$1,120|
Your car insurance rates will also vary based on the precise area where you park your car. Insurers use your address to better understand your likelihood of filing a claim: the more claim-prone your area,, the more expensive your rates.
See below major Illinois cities and their average auto insurance costs for drivers with low credit scores.
|City||Average Annual Rate — Worst Credit||Average Annual Rate — Poor Credit||Average Annual Rate — Below Fair to Poor Credit|
Another factor that contributes to how much you pay for car insurance is the insurance company you choose. Each car insurance company rates policies differently, giving rating factors varying weights in their calculations. Credit history can be a major pricing differentiator from one insurance company to the next. In Illinois, the cheapest major insurance company with bad credit is Country, which offers a discount of $462 per year compared to the second-cheapest company, American Family.
See premiums from leading car insurance companies in Illinois for drivers with bad credit.
|Company||Average Annual Rate — Worst Credit Tier|
If you're buying car insurance with a bad credit history, consider these tips: