What Auto Insurance is Cheapest for Drivers with Bad Credit in Lubbock?

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The vehicle model requiring coverage is probably the most important factor when looking for economical auto insurance for drivers with bad credit. Vehicles with high performance features, poor passenger safety features, or a track record of large liability claims will cost much more to insure than more economical and safe models.

The list below showcases auto insurance prices for some of the cheaper automobiles to buy insurance for.

Cheapest Vehicles to Insure in Lubbock, TX
Vehicle Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $989
Ford Escape XLT 2WD $1,079
Toyota Prius $1,097
Honda CR-V EX-L 2WD $1,141
Jeep Wrangler Sport 4WD 2-Dr $1,164
Chevrolet Equinox LT AWD $1,168
Ford Explorer Eddie Bauer 2WD $1,206
Nissan Rogue S 2WD $1,251
GMC Sierra SLT Extended Cab 2WD $1,253
Nissan Altima 3.5 SR 4-Dr Sedan $1,262
Jeep Grand Cherokee Limited 2WD $1,253
Chevrolet Silverado LTZ Extended Cab 4WD $1,258
Volkswagen Jetta LE 4-Dr Sedan $1,276
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate quotes do not factor in vehicle garaging location which can change premiums greatly.

Looking at the numbers, you can conclude that vehicles like the Hyundai Elantra, Ford Escape, Toyota Prius, and Honda CR-V will be the cheapest vehicles to insure for people with poor credit. Prices will tend to be higher just due to the fact that there is more claim exposure for drivers with bad credit, but in general those vehicles will tend to have the best insurance prices possible.

One of the many factors that are used to help calculate the amount you pay each year for auto insurance is your address. More densely populated places likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower prices.

The illustration below shows the most expensive places in Texas for drivers with bad credit in which to purchase auto insurance. Lubbock is ranked #14 with the annual price of $1,682 for coverage, which is around $140 per month.

How much does auto insurance cost in Lubbock?
Rank City Average Per Year
1 McAllen $2,016
2 Dallas $1,911
3 Brownsville $1,908
4 Amarillo $1,858
5 Houston $1,853
6 Laredo $1,833
7 Grand Prairie $1,811
8 Mesquite $1,807
9 Pasadena $1,794
10 Irving $1,789
11 Garland $1,778
12 Beaumont $1,772
13 Arlington $1,692
14 Lubbock $1,682
15 San Antonio $1,671
16 Austin $1,659
17 Carrollton $1,647
18 Plano $1,624
19 Fort Worth $1,604
20 Corpus Christi $1,588
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Information shown are approximated as specific Lubbock garaging address can affect rates significantly.

Finding out which companies offer the cheapest insurance rates for drivers with bad credit involves a little more effort than just comparing rates from one or two companies. Every auto insurer uses a slightly different approach for filing rates in each state, so let's rank the overall cheapest insurance companies in Lubbock, TX.

It's important to understand that Lubbock insurance rates are impacted by many factors which can significantly increase or decrease the price you have to pay. Getting older, adding a teenager to your policy, or getting caught speeding can trigger rate changes resulting in some companies being cheaper in comparison to the competition.

Find the Cheapest Car Insurance with Bad Credit

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Cheapest insurance companies in Texas
Rank Company Cost Per Year
1 Travelers $1,052
2 USAA $1,084
3 Texas Farm Bureau $1,211
4 Germania Mutual $1,294
5 Esurance $1,407
6 California Casualty $1,424
7 State Farm $1,465
8 Mercury $1,521
9 Nationwide $1,553
10 Safe Auto $1,565
11 Allstate $1,650
12 Progressive $1,715
13 Amica $1,757
14 GEICO $2,093
15 Home State $2,155
16 MetLife $2,161
17 Encompass $2,255
18 Unitrin $2,333
19 21st Century $2,494
20 Titan $2,594
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Travelers offers some of the lowest car insurance rates in Lubbock at around $1,052 annually. This is $852 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the more affordable Lubbock, TX car insurance companies.

In the above example, if you currently have coverage with Germania Mutual and switched to Travelers, you may see annual savings of about $242. Texas drivers with Esurance might save as much as $355 a year, and California Casualty insureds might lower prices by $372 a year.

If you would like to find cheaper car insurance rates, click here to start a quote or quote prices from the following companies.

Bear in mind that those policy rates are averages across all insureds and vehicles and do not take into consideration a specific location for drivers with bad credit. So the auto insurance company that has the cheapest rates for you may not even be in the list above. That is why you need to get rate quotes using your own driver data and vehicle information.

The chart below demonstrates how deductibles can influence insurance rates when searching for cheap insurance for drivers with bad credit. The information is based on a married female driver, full physical damage coverage, and no discounts are applied.

A 30-year-old driver could lower their policy premium by $408 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $612 by changing to a $1,000 deductible. Younger drivers, such as the 20-year-old example, can cut as much as $870 each year just by using higher deductibles. If you make the decision to raise deductibles, it will be required to have additional funds in a savings account to allow you to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Drive safe and save

The ideal way to earn the best insurance premiums for people with poor credit is to be a cautious driver and not have accidents or get tickets. The information below illustrates how speeding tickets and at-fault accidents influence auto insurance rates for each different age category. The information is based on a married female driver, comp and collision included, $250 deductibles, and no discounts are applied.

In the previous chart, the average cost of auto insurance in Lubbock per year with a clean driving record and no accidents is $2,050. Receive two speeding tickets and the average cost rises to $2,920, an increase of $870 each year. Then include one accident along with the two speeding tickets and the 12-month cost of insurance for drivers with bad credit goes up to an average of $3,809. That's an increase of $1,759, or $147 per month, just for not paying attention while driving!

Full coverage or liability only

Reducing premiums for insurance should be important to the majority of drivers, and one way to pay less for insurance for drivers with bad credit is to not buy comprehensive and collision coverage. The chart below shows the comparison of premium costs when comparing full coverage to liability only. The information is based on no violations or claims, $250 deductibles, drivers are single, and no discounts are applied to the premium.

As an average for all age groups, full coverage on your policy costs an extra $2,718 per year over having just liability coverage. That is a large expense which might make you wonder if buying full coverage is worth the money. There is no definitive rule of when to exclude full coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let's assume your vehicle's book value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $7,000 after the policy deductible has been paid. If premium cost is more than $700 a year for comprehensive and collision coverage, then it could be time to drop full coverage.

There are a few situations where removing full coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should not opt for liability only.

How to find economical car insurance for drivers with bad credit

The list below summarizes some of the better penny-pinching solutions that can help Lubbock drivers quote more affordable coverage.

That last tip is incredibly vital, as was stressed in this article. Prices charged by companies vary greatly, so don't be afraid to buy from a different company if a better rate can be found.

Having a favorite company is great, but it's not a great idea if it's costing you big bucks every year. It only take a few minutes to compare rates and find cheaper auto insurance for drivers with bad credit in Lubbock.

The auto insurance agents in Lubbock shown below can aid you in deciding which coverage meets your needs best, as some drivers aren't sure which coverage they need and prefer to get some guidance when shopping around for cheaper insurance for people with poor credit. It can be complicated to find the best rates on your own, so professional agents can give you comfort knowing your coverage gives you enough coverage when you need it.

To locate a Lubbock car insurance agency close to where you live, click the link after the list or click here to compare price quotes now.

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