It's impossible to miss the commercials from car insurance companies like Progressive, State Farm, and Nationwide guaranteeing huge savings, so drivers just need to pick the company with the best ad, right?
It's just not that easy, however, as there are a ton of unknown aspects such as how experienced of a driver you are, whether you are female or male, and what your desired deductibles are. This article will detail these topics and also should give you some help in finding cheaper rates.
Finding decent, cost effective auto insurance is confusing at best, and finding out which company offers the cheapest insurance rates for drivers with bad credit in Florida takes a bit more work. Policy prices will most likely be slightly higher than the state average, with the extra cost attributed to the additional risk that comes with selling insurance for people with poor credit, but economical coverage should be possible if you shop around. Every insurance company uses a different method for filing rates in each state, so let's take a look at the insurance companies with the most affordable rates in Florida.
It's important to know that Florida insurance rates are calculated based on many things that may substantially change the cost of having a policy. Price variation is why Florida drivers need to compare as many rates as possible to find the most economical insurance rates for drivers with bad credit. Rates are calculated by many things and change frequently, so the most economical company the last time you checked may now be one of the higher cost companies.
Best Car Insurance Prices with Bad Credit
|Rank||Company||Cost Per Year|
|Compare Rates Now Go|
USAA quotes some of the lowest car insurance rates in Florida at around $948 a year. This is $1,500 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also qualify as some of the more affordable Florida car insurance companies.
As the example above demonstrates, if you buy coverage from Amica and switched to USAA, you might achieve yearly savings of in the neighborhood of $798. Florida drivers with Progressive may save as much as $827 a year, and Travelers policyholders might lower prices by up to $940 a year.
To discover how much you can save, click here to start your custom quote or visit several of the following companies.
Remember that these premiums are averages for all drivers and vehicles in Florida and do not take into consideration a rate surcharge for drivers with bad credit. So the car insurance company that fits your needs best may not even be in the top 21 companies in the list above. That emphasizes why you need to compare prices as often as possible using your own driver data and vehicle information.
The car, truck, or SUV to be insured is a large consideration when trying to find economical coverage for drivers with bad credit. Vehicles with more horsepower, poor safety features, or a track record of large liability claims will cost substantially more to insure than more economical and safe models.
The information below showcases car insurance costs for a number of the most affordable automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Explorer XLT 2WD||$1,378|
|Ford Escape Limited 2WD||$1,420|
|Honda CR-V EX-L 2WD||$1,426|
|Ford Edge SE AWD||$1,428|
|Toyota RAV4 Limited 2WD||$1,455|
|Jeep Grand Cherokee Laredo 4WD||$1,460|
|Volkswagen Jetta S 4-Dr Sedan||$1,455|
|Chevrolet Silverado LS Regular Cab 4WD||$1,523|
|Toyota Corolla S||$1,533|
|Dodge Ram Quad Cab SLT 2WD||$1,585|
|Ford F-150 Lariat Crew Cab Platinum 4WD||$1,587|
|Ford Fusion S 4-Dr Sedan||$1,590|
|Dodge Grand Caravan Hero||$1,596|
|Honda Civic DX 4-Dr Sedan||$1,600|
|Compare Rates Now Go|
Prices based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rate information does not factor in specific location which can lower or raise coverage rates substantially.
Looking at the data, you can conclude that vehicles like the Ford Explorer, Ford Escape, Honda CR-V, Ford Edge, and Toyota RAV4 will be the most affordable vehicles to insure for people with poor credit. The cost of a car insurance policy will be more costly just due to the fact that there is more liability risk for drivers with bad credit, but overall those models will tend to have the cheapest rates available.
The information below demonstrates how deductible levels can raise or lower premium costs when getting quotes for cheap insurance for drivers with bad credit in Florida. The prices are based on a single female driver, full physical damage coverage, and no discounts are factored in.
As shown above, a 40-year-old driver could reduce rates by $332 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $500 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old example, could shave as much as $838 every year by choosing larger deductibles on their policy. When choosing a higher deductible, it is important to have enough spare savings to allow you to pay the extra out-of-pocket expense that is associated with using high deductibles.
Insurance rates are higher with tickets and accidents
The easiest method to snag low insurance prices in Florida for people with poor credit is to drive safe and avoid accidents and violations. The information below demonstrates how citations and at-fault fender-benders can increase insurance costs for different insured age categories. The rate quotes are based on a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.
The chart shows that the average cost of a car insurance policy per year with no violations or accidents is $2,492. Get two speeding tickets and the average cost rises to $3,335, an increase of $843 each year. Now get two accidents along with the two speeding tickets and the yearly cost of insurance for drivers with bad credit in Florida goes up to an average of $6,657. That's an increase of $4,166, or $347 per month, just for a couple of infractions!
How to find budget-friendly car insurance for drivers with bad credit
It is possible to find better rates, and here are some of the better money-saving suggestions that can help you quote cheaper car insurance.
- Buy your auto and home insurance from the same company and save
- Remain accident-free and save
- Discounts for being claim-free can be substantial
- Buy vehicles with five-star safety ratings
- Maintain a clean driving record
- Drop full coverage on older vehicles
- Compare prices as often as possible
The last tip in the list is extraordinarily crucial, as was noted in this piece. Rates change a lot, so you should be ready to buy a policy from a new company if you find a cheaper price. Staying with the same car insurance company is fine, but is isn't recommended if that devotion results in you overpaying lots of money. Spend a few minutes and compare prices to find cheaper auto insurance for drivers with bad credit.