For drivers with bad credit in Missouri, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for drivers with bad credit.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Missouri. The following are the best insurance rates from carriers that offer car insurance for drivers with bad credit in Missouri.
A poor credit score can negatively impact your financial well-being, especially when you need to borrow money for a car or house. Bad credit can also raise your insurance rates. A few states prohibit car insurance companies from using a driver's credit history as a factor in determining their rate. Unfortunately, Missouri is not one of those states. Most companies will run your credit if you try to get coverage.
While a poor credit score won't prevent you from getting coverage like it might a loan, you should expect to pay a higher insurance premium.
Insurify's comparison tool will help you make sure you're getting the best possible quote even with a bad credit rating. You can have peace of mind you're not paying any more than need to, and customers save $48 per month on average.
Drivers with bad credit pay almost 5 percent more than average for car insurance in Missouri. Credit scores are just one factor companies look at when determining car insurance rates, however. According to the Insurance Information Institute, companies will review your driving record and claims history along with your total debt and payment history when they set your rate. Insurers use your credit score to figure out your risk level and likelihood that you'll file a claim in the future.
It is possible to get car insurance without a credit check in Missouri. There's a catch, however. Car insurance companies that don't check credit scores often charge higher premiums. Insurance companies that run credit checks do so to calculate how much risk comes with covering a driver. Without that check, the risk calculation is incomplete, and companies will charge more for coverage to compensate for that.
You may not want to go through a credit check, but it might be worth it to see if you can pay less for coverage with a standard car insurance company in Missouri.
Missouri car insurance rates follow a relatively straight path; the better your credit is, the lower your average monthly insurance cost will be. The difference in average monthly insurance costs between a Missouri driver with excellent credit and one with poor credit is about $53. This is further proof that a lot more than a driver's credit score goes into determining insurance rates.
A poor credit score will be costly for drivers seeking car insurance in a handful of Missouri cities. Columbia is one of the few cities where Missouri drivers with bad credit can expect a monthly payment of less than $200. Meanwhile, drivers in Kansas City ajd St. Louis are looking at a $300 per month car insurance bill if they have bad credit.
Insurance prices and policies can vary significantly between companies, and a state like Missouri draws a wide variety of choices when factoring insurance rates for drivers with bad credit.
Insurify's rate comparison tool will help you make sure you're getting the best possible quote based on your needs and location. You can have peace of mind you're not paying any more than you need to, and customers save $585 per year on average.
The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.
Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.
With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.