Drivers With Bad Credit Pay 40% More for Car Insurance — And Think They’re Getting a Good Deal
Insurify analysis finds drivers with poor credit pay roughly 40% more for full-coverage car insurance — about $750 extra per year — than drivers with excellent credit.
Drivers with bad credit pay about 40% more for full-coverage auto insurance, which averages to roughly $750 more annually, according to Insurify. Despite the higher premiums, many of these drivers believe they are getting a good deal; drivers with excellent credit typically see substantial savings that vary by state.