Find affordable car insurance with bad credit by comparing rates.
It can be tough to find cheap auto insurance with a poor credit rating. Car insurers use credit tier as a major rating factor, assigning their premiums based partially on drivers’ credit scores. Because auto insurance companies use historical data that show drivers with poor credit are more likely to file car insurance claims, the companies account for for that additional risk by assigning expensive rates.
Car insurance rates with bad credit depends on which company you choose, where you live, and a few other rating factors. We've gathered below typical insurance premiums for drivers with bad credit in primary Maine citiesand rates from top auto insurance companies, plus tips to save on auto insurance if you have bad credit in Maine.
Maine drivers pay an average penalty of $1,712 each year for having a credit score at the low end of the scale. A driver in either the “poor” or “below fair to poor” credit tier will also pay higher-than-average rates.
|Credit Tier||Average Annual Rate in Maine|
|Below Fair to Poor||$1,982|
|Average — All Credit Tiers||$927|
Car insurance rates will also vary depending on the specific area where you park your car. Insurers use your address to estimate your likelihood of filing a claim: the denser and claim-prone your immediate area is, the more you'll pay.
See below major Maine cities and their average car insurance costs for drivers with poor credit ratings.
|City||Average Annual Rate — Worst Credit||Average Annual Rate — Poor Credit||Average Annual Rate — Below Fair to Poor Credit|
Another factor contributing to your premium is the company you select. Every car insurance company rates policies differently, giving rating factors varying weights in their calculations. Credit score can be a primary price differentiator between otherwise-similar insurance companies. In Maine, the most affordable insurance company for a driver with a bad credit score is Concord Group Insurance, which offers a price break of $288 annually versus the second-cheapest company, GEICO.
See below prices from major car insurance companies in Maine for drivers with bad credit.
|Company||Average Annual Rate — Worst Credit Tier|
|Concord Group Insurance||$1,076|
If you’re facing the prospect of buying car insurance with a bad credit history, keep these tips in mind: