For drivers with bad credit in New York, 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 New York. The following are the best insurance rates from carriers that offer car insurance for drivers with bad credit in New York.
New York City is known as "The City That Never Sleeps," but it is also known for its high cost of living. Some drivers in the state may have had to take out loans or use their credit card at some point. Depending on the situation, this could have resulted in a rocky credit history.
The good news is that while bad credit can impact your car insurance rate, there are several ways to find competitive pricing. The most effective way is to shop around at multiple insurance providers using a website like Insurify.
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.
Having less-than-stellar credit can often result in an impact in the car insurance rates you see. Specially in New York, bad credit can result in a 10 percent increase in monthly premiums when compared to those with good credit. This translates to almost $336 more for coverage for the year.
The main reason for the difference in cost between the two tiers has to do with risk. If someone has a low credit score, then they are more likely to not make monthly payments on time or to file more insurance claims.
If your goal is to avoid having a credit check conducted when getting car insurance, you might have a hard time finding coverage. Nearly all insurance providers in New York require a credit check when obtaining auto insurance since it helps determine your risk.
Insurance carriers that offer no-credit-check car insurance do exist, but it often comes with a penalty. Most drivers will end up spending more per month than they would if they had applied for coverage with bad credit.
The auto insurance rates that New York drivers are presented with can fluctuate depending on what credit tier they fall into. Those who are in the excellent tier typically see average pricing around $222 a month. This is $48 less than what drivers in the poor credit tier pay.
There is a drastic change in how much effect bad credit has on car insurance rates based on where you are located. Certain places in New York, like Brooklyn and the Bronx, have averages in the $500 range, while others, such as Buffalo and Rochester, are in the $200 range.
Insurance prices and policies can vary significantly between companies, and a state like New York 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.
Use Insurify for all of your car insurance comparison needs! Compare and connect directly with the top insurance companies to find the best rates as well as the most personalized discounts and coverage options.
Insurify’s network includes over 200 insurance companies throughout the U.S. who can work with you to get you the right auto insurance policy at the cheapest price.
The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.