Bad credit is something that plagues millions of Americans. If you live in Nebraska, bad credit could even have an impact on the car insurance rates you receive. While not the worst state to have bad credit in, Nebraska sees insurance carriers tack on about 11 percent to monthly premiums if you have bad credit.
One thing that plays a role in determining how much bad credit affects your rates is where you live in the state. Some communities are less stringent when it comes to credit history and offer affordable auto insurance options.
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.
In Nebraska, bad credit can significantly impact how much you pay each month for auto insurance. For example, a driver with a good credit rating will have premiums around $182 per month, while a motorist with bad credit will pay more than $200 for the same coverage.
This 11 percent increase in cost for coverage is about the average when compared to other states around the country. It also reflects the added risk that insurance providers take on when insuring drivers with poor credit.
It is possible to get car insurance without a credit check in Nebraska, but it isn't often recommended or worth it. The average premium rates for a no-credit-check auto insurance policy tend to be much higher than for a policy you would get with bad credit.
The main reason for the increased price for these policies has to do with risk. By not knowing your credit history, providers are unable to tell how likely you are to pay your premiums on time. This in turn means that the insurance company has to assume more risk to offer you auto coverage.
The easiest way for a driver with bad credit to find an affordable car insurance policy is through shopping around. Many insurance carriers in Nebraska have flexible options and can work to secure you a cheaper rate. Places to consider getting a quote from include Travelers Insurance, Stillwater, and Midvale Home & Auto.
|Carrier||Avg. Monthly Cost|
|Midvale Home & Auto||$146|
|American Family Insurance||$150|
What credit tier you are placed in can have a significant impact on how much you pay in monthly premiums. In fact, the difference between an excellent and poor rating in Nebraska can be as high as $35.
|Credit Tier||Avg. Monthly Cost|
In Nebraska, not all cities treat bad credit the same way. Some communities are a little more lenient when it comes to how bad credit affects insurance rates. For instance, the average for coverage in Lincoln is $173 per month, which is $36 lower than the average in cities such as Omaha.
|City||Credit Tier||Avg. Monthly Cost|
Insurance prices and policies can vary significantly between companies, and a state like Nebraska 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.