Wouldn’t it be awesome if we could just tell you the one perfect auto insurance company that has the cheapest rates for low credit scores? Regrettably, it’s not quite that easy, as there are a lot of unknown factors such as whether you are married or single, if you are a homeowner or renter, and if you have a lapse in coverage, that all have an effect on the price of a policy. In this article, we will cover the things that cause high insurance rates and educate you enough to have a solid foundation to find cheaper car insurance.
The vehicle model you are insuring is probably the most important factor that determines if you can find cheaper car insurance for low credit scores. Vehicles with high performance engines, poor crash test ratings, or a history of substantial liability claims will cost more to insure than safer models. The list below shows car insurance costs for a number of the more affordable vehicles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape Limited 2WD||$972|
|Honda CR-V EX 4WD||$1,067|
|Ford Focus SE 4-Dr Sedan||$1,106|
|Dodge Grand Caravan Hero||$1,126|
|Toyota Tacoma Double Cab 4WD||$1,148|
|Chevrolet Malibu LT||$1,157|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,166|
|Honda Odyssey LX||$1,183|
|Jeep Grand Cherokee SRT-8 4WD||$1,210|
|Ford F-150 XLT Crew Cab 2WD||$1,212|
|Chevrolet Equinox LT 2WD||$1,234|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,254|
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Rate quotes do not factor in specific Corpus Christi, TX garaging location which can impact coverage prices considerably.
Based upon these rates, you can figure that cars like the Ford Escape, Honda CR-V, Ford Focus, and Dodge Grand Caravan are going to be the cheapest vehicles to insure for bad credit.
One of the more important criteria that aid in calculating the annual cost of car insurance is where your car is garaged. More densely populated places tend to pay more, whereas less populated areas get the luxury of paying less.
The illustration below ranks the most expensive cities in Texas for low credit scores to purchase auto insurance in. Corpus Christi is ranked #21 with the annual price of $1,572 on average, which is about $131 monthly.
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Prices are approximated as vehicle location can modify coverage rates significantly.
Buying budget insurance is not most people’s favorite thing to do, and finding out which company quotes the most affordable auto insurance rates for low credit scores calls for additional perseverance.
Each auto insurance company has a unique approach for determining rates in each state, so to begin we’ll rank the auto insurance companies with the most affordable rates in Corpus Christi. Keep in mind that Texas auto insurance rates are determined by lots of factors which can substantially decrease or increase the cost of your policy. This price variability is why it is crucial to take the time to shop around when trying to find the most economical auto insurance quotes for low credit scores. Insurance prices are calculated by many risk factors and can change substantially, so the cheapest company when you last compared rates may now be quite expensive.
Lowest Insurance Price Quotes in Texas
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,199|
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Travelers quotes some of the lowest car insurance rates in Corpus Christi at around $1,010 each year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the cheaper Corpus Christi, TX car insurance companies.
In the rate table above, if you currently buy coverage from Texas Farm Bureau and switched to Travelers, you could earn annual savings of upwards of $189. Insureds with Germania Mutual may save as much as $272 a year, and Esurance customers might lower prices by up to $411 a year.
If you want to find out if you’re overpaying, click here to start a quote or feel free to get quotes from the companies below.
Remember that these policy rates are averaged across all drivers and vehicles and do not factor in a specific location for low credit scores. So the auto insurance company that is most affordable for your situation may not even be in the top 23 companies shown above. That’s why you need to get rate quotes from many companies using your own specific driver and vehicle information.
Careless drivers pay higher rates
The ideal way to get cheap auto insurance premiums in Texas for bad credit is to pay attention while driving and avoid traffic citations and accidents. The diagram below illustrates how traffic citations and accident claims impact insurance rates for different age groups. The price estimates are based on a married male driver, comp and collision included, $100 deductibles, and no discounts are applied to the premium.
The data above shows the average cost of auto insurance per year with no accidents or violations is $2,490. Factor in two speeding tickets and the average cost surges to $3,450, an increase of $960 each year. Then throw in one accident along with the two speeding tickets and the annual cost of auto insurance for low credit scores goes up to an average of $4,435. That’s an increase of $1,946, or $162 per month, just for not driving responsibly!
Cost difference between full coverage and liability
Reducing the cost of auto insurance should be important to most people, and an effective way to buy cheaper insurance for low credit scores is to only buy liability coverage. The information below compares insurance premiums when comparing full coverage to liability only. The premium estimates are based on no accidents, no driving violations, $250 deductibles, single marital status, and no discounts are factored in.
If averaged out across all ages, comprehensive and collision coverage on your policy costs $2,210 per year over liability only. Many people question if paying for full coverage is worth it. There is no definitive formula to eliminate comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s assume your vehicle’s claim settlement value is $8,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $7,500 after paying your policy deductible. If premiums are more than $750 a year to have full coverage, then it could be time to drop full coverage.
There are some cases where dropping full coverage is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Discount Corpus Christi auto insurance
Auto insurance companies that offer coverage for low credit scores may have policy discounts that could potentially reduce rates by as much as 40% or more if you are eligible. Large auto insurance companies and their offered discounts can be found below.
- Farm Bureau discounts include multi-policy, good student, safe driver, renewal discount, multi-vehicle, driver training, and 55 and retired.
- Liberty Mutual may have discounts that include new vehicle discount, safety features, teen driver discount, exclusive group savings, and new move discount.
- State Farm offers discounts including Drive Safe & Save, accident-free, safe vehicle, Steer Clear safe driver discount, good student, and multiple policy.
- Auto-Owners Insurance may offer discounts for student away at school, group or association, anti-theft, multi-policy, and safe driver.
- GEICO offers premium reductions for good student, anti-theft, emergency military deployment, defensive driver, and multi-vehicle.
- SAFECO offers discounts for homeowner, anti-theft, teen safety rewards, accident prevention training, teen safe driver, and anti-lock brakes.
The information below illustrates the difference between insurance prices with and without discounts applied to the policy rates. The price estimates are based on a male driver, no violations or claims, Texas state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with claim-free, homeowner, accident-free, marriage, multiple vehicle, and vehicle safety discounts applied. When these discounts are applied, theaverage yearly reduction on auto insurance for low credit scores is 28% or $445.
Comparing rates can save you money
Corpus Christi, TX auto insurance rates are determined by lots of factors that can increase the cost of having a policy. Turning one year older, increasing deductibles, or getting a ticket for careless driving may prompt premium changes that can cause some rates to be more affordable than competitors. Not only may your situation change, but insurers file new rates as needed to adjust for gains or losses. Heavy losses may cause a rate increase, while a better loss history may cause lower-priced Corpus Christi car insurance rates.
To illustrate this example, the graph below shows rates for the cheapest car insurance in Corpus Christi, TX for a 45-year-old male driver with a good driving record, no prior claims, and solid credit. Based on his personal risk profile, Travelers may offer the cheapest car insurance rates in Corpus Christi at $1,111 each year. This is $793 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also make the list of the best Corpus Christi, TX auto insurance companies.
The example below compares rates after we give the driver from the first set of rates a claim, slightly worse credit, and a blemish on his driving record. Due to the fact that each insurance company has their own unique process for determining rates in each state, comparing prices could result in a new list of the cheapest car insurance companies in Corpus Christi as shown below.
Mercury now has the lowest car insurance rate in Corpus Christi with State Farm, Nationwide, Safe Auto, and USAA also having competitive pricing. This illustrates why Texas drivers need to compare rates when trying to find affordable insurance rates for low credit scores. Prices consist of many factors and change dramatically, so the most economical company the last time you compared rates may now be costing you a lot of money.
The agents listed below can answer your questions and help you decide which policy is best, as lots of people like to get some professional advice when shopping for cheaper insurance for bad credit. It’s not always simple to find the best policy on your own, and insurance agents licensed in the state of Texas can bring comfort knowing your policy gives you enough coverage when you need it.
To find a Corpus Christi insurance agent in your neighborhood, click the button at the bottom.
Sam Watson – State Farm Insurance Agent
4818 Shopping Way A – Corpus Christi, TX 78411 – (361) 852-6600
Allstate Insurance: Joshua D. Crow
5333 Yorktown Blvd e – Corpus Christi, TX 78413 – (361) 857-2688
Tejas Auto Insurance
4701 Ayers St #104 – Corpus Christi, TX 78415 – (361) 814-0030
Moore Insurance Agency
500 N Water St #702 – Corpus Christi, TX 78401 – (361) 991-9000