One of the more important components that are looked at to help calculate the amount you pay each year for auto insurance is the neighborhood you call home. Cities with larger populations likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The following table shows the most costly cities in Nebraska for drivers with bad credit to purchase a policy in. Lincoln is listed at #24 with the annual price of $1,073 for the average insurance policy, which is around $89 monthly.
|9||South Sioux City||$1,251|
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Price information shown is comparative as the vehicle garaging location can affect insurance rates noticeably.
The vehicle model requiring coverage is one of the largest considerations that determines whether or not you find the lowest-priced insurance for drivers with bad credit. Vehicles with lots of horsepower, a lack of advanced safety features, or high incidents of liability claims will cost quite a bit more to insure than more economical and safe models. The data below presents insurance premiums for the cheaper vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$788|
|Honda CR-V EX 4WD||$880|
|Ford F-150 XL Super Cab 4WD||$884|
|Ford Escape XLT 4WD||$912|
|Jeep Grand Cherokee Laredo 4WD||$934|
|Toyota RAV4 Limited 2WD||$942|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$950|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$962|
|Ford Edge SE 2WD||$978|
|Honda Odyssey LX||$988|
|Toyota Corolla S||$984|
|Toyota Camry XLE||$991|
|Ford Fusion SE 4-Dr Sedan||$1,000|
|Hyundai Sonata GLS 4-Dr Sedan||$1,009|
|Chevrolet Equinox LT AWD||$1,020|
|Dodge Grand Caravan Hero||$1,026|
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Prices do not factor in specific Lincoln, NE garaging location which can revise premium rates significantly.
Based on these rates, you can assume that cars like the Hyundai Elantra, Toyota Prius, and Honda CR-V are most likely going to be some of the less-costly vehicles to insure for people with poor credit. Prices will be more expensive because of the fact that there is more claim risk for drivers with bad credit, but generally speaking those models will probably have the lowest insurance rates that you are likely to find.
Determining which companies have the most affordable insurance rates for drivers with bad credit will require a little more effort in order to find coverage that fits your budget. Every car insurance company has their own formula for filing rates in each state, so we need to take a look at the insurance companies with the overall cheapest rates in Lincoln.
Best Cheap Insurance Rates with Bad Credit
|Rank||Company||Cost Per Year|
|5||Farmers Mutual of Nebraska||$989|
|6||Farm Bureau Mutual||$990|
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Safeco may offer some of the best car insurance rates in Lincoln at around $804 a year. This is $512 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska would also make the list of some of the lowest-priced Lincoln, NE car insurance companies.
As illustrated above, if you are currently insured with The Hartford and switched to Safeco, you could earn yearly savings of about $61. Policyholders with Auto-Owners could save as much as $128 a year, and Allied insureds might reduce rates by $145 a year.
Understand that those premiums are averaged across all types of drivers and the different vehicles they drive and do not factor in a vehicle location for drivers with bad credit. So the car insurance company that fits you best may not even be in the list above. That emphasizes why you need to compare prices as often as possible using your own driver data and vehicle information.
Buying coverage from the highest-rated car insurance provider can be challenging considering how many different companies there are to choose from in Nebraska. The ranking information in the next section may help you pick which auto insurers you want to consider comparing rate quotes with.
The ratings below include companies with a nationwide focus, so companies that may only write in Nebraska are not included in these rankings. If you wish to compare prices from these and other competitive companies, just click here.
Top 10 Large Auto Insurance Providers in Lincoln Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Full coverage or liability only
Saving money when shopping for insurance is probably important to the majority of vehicle owners, and one easy way to buy cheap insurance for drivers with bad credit is to only buy liability insurance. The illustration below compares insurance costs when comparing full coverage to liability only. The data assumes no violations or claims, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Averaged for all ages 20 through 70, full coverage on your policy costs an extra $1,681 per year over liability only. Many drivers will wonder when is the right time to remove full coverage. There is no set guideline for phasing out full coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
Reckless driving habits raise Lincoln insurance rates
The obvious way to obtain good insurance premiums for people with poor credit is to be a careful driver and avoid accidents and traffic citations. The diagram below demonstrates how citations and accident claims raise premium costs for different insured age categories. The data assumes a married male driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
In the prior example, the average cost of car insurance per year with no violations or accidents is $1,472. Get two speeding tickets and the average cost swells to $2,034, an increase of $561 each year. Now throw in two accidents along with the two speeding tickets and the annual cost of insurance for drivers with bad credit increases to an average of $4,027. That’s an increase of $2,554, or $213 per month, just for not driving attentively!
If you have coverage questions and would like to have professional advice when shopping for the best coverage for people with poor credit, the insurance agencies below can answer your questions and help you decide which coverages are best.
To find an auto insurance agency close to where you live, click the link after the list.
Ogden Insurance Agency, Inc.
8531 Lexington Ave #102a – Lincoln, NE 68505 – (402) 466-5655
Gale Breed – State Farm Insurance Agent
8421 Amber Hill Ct #1 – Lincoln, NE 68526 – (402) 483-2802
Mid Mex Insurance Inc
1010 South St A – Lincoln, NE 68502 – (402) 438-6800
Union Agency Inc
4719 Prescott Ave – Lincoln, NE 68506 – (402) 810-7582
State Farm: Genny Noerrlinger
6710 L St #110 – Lincoln, NE 68510 – (402) 488-7855