What Insurance is Cheapest for Low Credit Scores in Buffalo?

The type of vehicle to be insured is probably the largest consideration when shopping around for the best auto insurance for low credit scores. Vehicles with lots of speed or power, poor passenger safety features, or a high likelihood of having liability claims will cost significantly more to insure than safer, lower-performance models.

The next list illustrates coverage rates for the cheaper vehicles to buy insurance for.

Cheapest Vehicles to Insure in Buffalo, NY
Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 2WD $2,113
Dodge Grand Caravan SE $2,363
Honda CR-V EX 2WD $2,413
Toyota RAV4 Limited 2WD $2,492
Chevrolet Malibu Hybrid $2,502
Ford F-150 Lariat Super Cab 4WD $2,541
Ford Explorer Eddie Bauer AWD $2,548
Honda Accord EX-L 4-Dr Sedan $2,617
Honda Odyssey EX-L W/Rear Entertainment $2,620
Toyota Tacoma X-Runner 2WD $2,630
Hyundai Elantra GLS 4-Dr Sedan $2,620
Ford Edge SE 2WD $2,653
Toyota Prius $2,670
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Premium costs do not factor in your specific Buffalo, NY location which can increase or decrease price quotes considerably.

By looking at the data, you can expect models like the Ford Escape, Dodge Grand Caravan, Honda CR-V, and Toyota RAV4 are the cheaper vehicles to insure for bad credit.

One of the more important factors that help determine the price you pay for insurance is where you choose to live. Areas with a lot of weather claims or more people tend to have more expensive car insurance rates, whereas less populated areas benefit from having to pay less for coverage.

The next table lists the most expensive areas in New York for low credit scores in which to purchase auto insurance. Buffalo comes in at #13 costing $1,548 for the average policy, which is around $129 monthly.

How much does auto insurance cost in Buffalo?
Rank City Average Per Year
1 New York $2,654
2 Hempstead $2,279
3 Freeport $2,235
4 Levittown $2,061
5 Mount Vernon $1,978
6 Yonkers $1,978
7 Hicksville $1,919
8 Brentwood $1,910
9 West Babylon $1,875
10 Coram $1,784
11 White Plains $1,661
12 New Rochelle $1,610
13 Buffalo $1,548
14 Niagara Falls $1,225
15 Cheektowaga $1,203
16 West Seneca $1,189
17 Tonawanda $1,177
18 Utica $1,136
19 Syracuse $1,130
20 Troy $1,053
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Information shown are comparative as specific location information can raise or lower prices noticeably.

Get discount Buffalo car insurance rates

Save on insurance for bad credit in BuffaloInsurers that provide coverage for low credit scores could also offer rate discounts that can lower rates by 35% or more if you can meet the requirements. A list of companies and a summarized list of policyholder discounts are:

The diagram below illustrates the comparison of car insurance costs with and without policy discounts. The premiums are based on a male driver, no claims or driving citations, New York state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with passive restraint, claim-free, accident-free, multiple policy, multiple vehicle, and anti-theft discounts applied. When discounts are factored in, the average savings per year on insurance for low credit scores is 28% or $415.

Full coverage versus liability only rates

Lowering the price of insurance is important to most drivers, and one easy way to reduce the cost of insurance for low credit scores is to buy only liability coverage. The illustration below illustrates the comparison of annual premium costs with full physical damage coverage compared to only buying liability only. The rates are based on no claims or violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.

If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs $1,396 per year more than just buying liability only. Many drivers will wonder if full coverage is worth the money. There is no written rule of when to drop full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then it might be time to buy liability only.

For example, let’s assume your vehicle’s settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,500 after paying the physical damage deductible. If you are paying over $350 a year for comprehensive and collision coverage, then it could be time to drop full coverage.

The chart below demonstrates how deductible levels can increase or decrease premium costs when searching for cheap insurance for low credit scores. The premiums are based on a single male driver, comp and collision included, and no other discounts are factored in.

A 40-year-old driver could reduce rates by $296 a year by increasing from a $100 deductible up to a $500 deductible, or save $444 by switching to a $1,000 deductible. Youthful drivers, like the age 20 example, can save up to $982 or more by choosing a higher deductible.

When raising deductibles, it is necessary to have emergency funds available to satisfy the extra out-of-pocket expense. That is the one drawback of using higher deductibles.