Finding cheap auto insurance can be tough when you have bad credit. Insurers utilize credit score as a major rating factor, setting prices based partially on clients' credit histories. Because auto insurance companies use historical data showing those with bad credit have a greater likelihood of filing car insurance claims, they compensate for the extra risk by charging more expensive rates.
Your car insurance costs with bad credit depends on which company you choose, where you live, and a few other rating factors. See on this page average insurance rates for drivers with bad credit in primary Wyoming cities and rates from top car insurance companies, followed by tips to save on auto insurance if you have a bad credit score in Wyoming.
Drivers in Wyoming face a penalty of $757 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 above-average rates for a car insurance policy.
|Credit Tier||Average Annual Rate in Wyoming|
|Below Fair to Poor||$1,776|
|Average — All Credit Tiers||$1,338|
Your auto insurance costs will also vary depending on the specific area where you park your car. Car insurance companies use your address to better understand how likely you are to file a claim: the more claim-prone your area,, the more you'll pay for insurance.
We've listed major Wyoming cities and their typical car insurance rates 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 contributing factor to how much you pay for car insurance is the insurer you buy from. Every car insurance company rates its policies in a unique manner, giving rating factors varying weights in their pricing calculations. Credit can be a primary pricing differentiator between otherwise-similar insurance companies. In Wyoming, the most affordable insurance company for a driver with bad credit is Safeco, which offers a premium cut of $270 per year in comparison to the second-cheapest company, GEICO.
See rates from leading auto insurance companies in Wyoming for drivers with bad credit.
|Company||Average Annual Rate — Worst Credit|
If you're having a hard time getting auto insurance with bad credit, remember these tips: