Cheap Auto Insurance for Low Income Drivers in Connecticut

Deciding which companies have the best car insurance rates for low income drivers will involve a bit more work than just comparing a company or two. Every insurance provider has a proprietary method to set premium rates, so let’s rank the car insurance companies that tend to have lower prices in Connecticut.

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Utica National generally has some of the best car insurance rates in Connecticut at around $975 per year. Travelers, USAA, Amica, and Nationwide would also make the list of some of the cheapest Connecticut auto insurance companies.

In the above example, if you currently buy coverage from Nationwide and switched to Travelers, you could see an annual savings of roughly $268. Connecticut drivers with Unitrin might save as much as $363 a year, and State Farm policyholders might lower prices by $404 a year.

It’s important to note that these policy prices are averages for all types of drivers and the different vehicles they drive and and are not figured with a rate decrease for low income drivers. So the insurer that is best suited for you may not even be shown in the above list. That underscores the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.

When shopping for auto insurance for poor drivers, one of the many components that help determine the cost of insurance is where your home is located. Areas that are more densely populated like Hartford, New Haven, and East Haven tend to have more expensive car insurance rates, whereas cities that are not as densely populated generally have lower rates.

The table below ranks the priciest cities in Connecticut for low income drivers to purchase a policy in.

Information shown are approximated as the specific Connecticut residence address can impact prices considerably.

Do you need full coverage?

Finding cheap auto insurance for low income drivers in Connecticut is important to most vehicle owners, and one of the fastest ways to lower the cost of insurance is to only buy liability insurance. The information below visualizes the comparison of insurance prices with and without full coverage. The premiums assume no accidents or driving violations, $1,000 deductibles, single status, and no policy discounts are applied.

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Averaged for all ages 20 through 70, physical damage coverage costs an extra $1,449 per year over having just liability coverage. That proposes the question if buying full coverage is worth the money. There is no definitive guideline for eliminating comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement value is $5,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $4,500 after paying your deductible. If it’s costing in excess of $450 a year for physical damage coverage, then you might want to consider buying only liability coverage.

There are some situations where eliminating full coverage is not a good plan. If you still owe money on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

The information below highlights how deductible selection can increase or decrease insurance premiums when researching cheap insurance for low income drivers. The premiums assume a single male driver, comp and collision included, and no discounts are taken into consideration.

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A 50-year-old driver could lower rates by $284 a year by changing from a $100 deductible to a $500 deductible, or save $428 by changing to a $1,000 deductible. Youthful drivers, like the 20-year-old, could lower their rates up to $930 or more just by choosing higher deductibles when buying full coverage. When using a larger deductible, it is essential to have additional funds in a savings account to be able to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Find cheap auto insurance for low income drivers in Connecticut

The list below summarizes a few money-saving suggestions that can help you get lower-cost car insurance.

• If possible, do not file small claims
• Buy safe vehicles
• Avoid at-fault accidents and claims
• Avoid getting citations and tickets
• Buy your homeowners policy from the same company as your auto insurance
• Look for cheaper rates once a year by shopping around

That last piece of advice is highly vital, as we emphasized in this write-up. Prices in Connecticut can change considerably in a year, so don’t be afraid to buy a policy from a new company if a more affordable price is available.

We understand brand loyalty, but it isn’t a good idea if that loyalty results in overpaying several hundred dollars every year. In just a couple of minutes you could compare prices and find cheaper insurance for low income drivers.

Best cheap insurance quotes for poor drivers

You have many ways to buy car insurance in Connecticut, but the most preferred are through an independent agent, an exlusive agent like Auto-Owners or State Farm, or from a direct company like Geico or Progressive.

You can use whichever you prefer, but buyers should know the differences in how they function.

Independent agents write for multiple companies and can compare rates with all of them. These types of agents are not restricted to one company and can give you a larger rate selection, which can help you get the best shot at cutting your rates. If they find a lower price, you can get a different policy which prevents you from having to find an new insurance agent.

An exclusive agent is only able to give prices for a single insurance company like a Farmers or Allstate agent. This type of agents cannot quote rates from more than one company, so you will not be able to compare multiple prices.

Opting to purchase car insurance direct means you forego an exlusive or independent agent and instead buy direct online or over the phone from a company like Esurance or Geico. Buying car insurance direct may be the best choice consumers who have little risk and know what coverage options they need.

So what is the best way to find cheap auto insurance for low income drivers in Connecticut? The obvious answer would be shopping direct saves money because you bypass the agent, but unfortunately, it’s not that simple. A valid argument could also be made that an independent agency guarantees the lowest rates since they can provide multiple quotes, but that idea is not necessarily true either. For some people, exclusive agents may have prices that cannot be met by either independent or direct companies.

Since car insurance rates vary so much, the only real way to find out which one is cheapest is to get quotes and compare the rates. Put in the effort to get prices from all three in order to have enough rates to compare. For a list of companies with some of the cheapest Connecticut car insurance rates, click here to view.