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Compare car insurance with excellent credit
Find ways to save for drivers with the best credit scores.
Get rewarded for your high credit score with the freedom to find a provider that best fits your needs and budget. You could be saving over $500 per year above drivers with lower scores.
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
- Broad coverage, including for custom car parts or ridesharing
- Transparent pricing tools that help you buy within budget
- Accident forgiveness on small claims or for staying claim-free
- Stack a variety of discounts for multiple cars, autopay or homeownership
Cheapest car insurance for excellent credit
What’s the best car insurance for excellent credit?
If you’ve got a high credit score, you’ll have nearly any choice of insurance type or provider. Here are some types of insurance to consider:
- Preferred provider. Choose nearly any company that provides you the best coverage for the value.
- Standard policy. If you’re considering other coverage than usage-based insurance or have a history of safe driving, you have your pick of insurers who consider your credit.
- Specialty insurers. Some specialized insurers deny coverage to high-risk drivers. But as long as you have a good driving record and keep your credit score up, you’ll likely have no problem getting their specialty products.
Excellent credit gives you a wide range of providers to choose from. In your situation, consider comparing the offered coverage and its value. Take into account the provider’s claims history, customer service, cost and coverage options. Your only limitations may be your location, budget or type of coverage needed.
Specialty insurance companies may only work with drivers who have good credit, making you a prime customer. These companies like to focus on quality service for a luxury or classic car or a special customer like a member of AAA or AARP.
Companies like Chubb or Hagerty often let you bundle insurance on high-end cars, homes and more with policies tailored for high-net-worth individuals.
Must read: Will a credit check from an insurer affect my credit score?
Most insurance companies use a credit-checking process involving a soft pull on your credit. You can see the credit check on your personal credit history. However, it won’t have a negative effect on your record and influence your score the same way applying for a new credit card might.
How do I save on car insurance with excellent credit?
You’ll already be paying far less on car insurance than drivers with lower credit scores. However, you could drop that premium even lower in several ways:
- Shop around. With credit like yours, you have every right to look at multiple providers for their value. You might also compare rates again after life changes, such as moving addresses, getting married or adding a new vehicle.
- Keep your driving record clean. Your driving record may affect your rates as much as, if not more than, your credit.
- Rack up discounts. Look for providers who offer multiple discounts you might qualify for, including safe driver rewards, automatic payments and insurance bundling.
- Lower coverage, when possible. Drop coverage that costs you more than your car may be worth, but stay smart about the coverage you need.
- Raise deductibles. Take on more financial responsibility to save on your premium. Again, make sure the savings outweighs the coverage benefits.
- Go claims free. Get into a fender bender? If repairs cost less than your deductible, consider repairing without filing a claim to avoid surcharges.
How much am I saving with excellent credit?
By maintaining an excellent credit score, you may be saving over $500 per year on your annual premium. Drivers with poor credit or no credit often pay 42% more than those with higher scores.
Since the average insurance rate is around $1,300 per year, you can expect your premium to stick close to that or even dip below it. By comparison, drivers with poor credit might pay as much as $1,846 per year. Based on these numbers, your excellent credit is likely saving you over $500 on car insurance.
Why are insurance rates based on credit?
Insurers use credit-based insurance scores because studies have shown it can predict risk. Drivers with higher credit tend to make fewer claims. Insurance companies also use other factors to determine your premium, including your driving record, age and vehicle type.
Most companies use these scores, unless you live in California, Hawaii and Massachusetts that don’t allow this practice.
Must read: How do I know if insurers are looking up my credit?
You’ll know that a company is using your credit when it asks for permission to check your score. During the quoting process, insurers may ask for identifying information, such as your address, Social Security number or vehicle ID.
A high credit score gives you the freedom of shopping around for insurance providers to find the best one for you. You could save over $500 per year by comparing quotes. However, you can save even more by keeping a clean driving record and finding discounts.
Common questions about car insurance with great credit
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