Cheapest Car Insurance for Low-Income Drivers in Idaho (October 2024)


Idaho Farm Bureau is the most affordable car insurance for individual drivers with low income and poor credit in Idaho at $37 per month. For families with low income, State Farm provides the cheapest option at $33 per month. Idaho does not have state-backed car insurance programs for individuals or families with low income. Finding the most affordable provider and seeking discounts are viable options to reduce costs.

Although minimum coverage allows you to drive legally, it has downsides. For instance, it may not cover all damages in an at-fault accident, leaving drivers with out-of-pocket expenses.

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Cheapest for Individuals With Low Income

Idaho Farm Bureau is the cheapest car insurance provider in Idaho for individual drivers with low income and poor credit history. Its average minimum coverage premium is $37 per month or $448 per year.

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Cheapest for Families With Low Income

State Farm is the cheapest car insurance provider in Idaho for families with low income. Its average minimum coverage premium is $33 per month or $398 per year.

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Cheapest for Senior Drivers With Low Income

Idaho Farm Bureau is the cheapest car insurance provider in Idaho for seniors with low income and poor credit scores. Its average minimum coverage premium is $31 per month or $374 per year.

Why Trust MoneyGeek? We analyzed thousands of data points and quotes from Quadrant Information Services and the Idaho Department of Insurance to get the cheapest average costs for drivers with low income in Idaho.

22,176Quotes Analyzed
 
12Companies Compared
 
21ZIP Codes

Does Idaho Offer Low-Income Insurance?

Car insurance companies in Idaho do not consider income when calculating your car insurance rates. Instead, they look at factors like age, driving record, credit history and the type of car you drive. At-fault accidents and moving violations can increase your rates significantly.

The best way to find the cheapest rates is to compare quotes from several insurance companies. If your budget is tight, a basic minimum coverage policy is often the cheapest way to stay legal on the road. For drivers who rarely drive, pay-per-mile insurance can be the best option to save money. MoneyGeek has rounded up the cheapest insurers for drivers in Idaho with low income to help you save.

Minimum Car Insurance Requirements in Idaho

To legally drive in the Gem State, you must carry car insurance that meets the minimum car insurance requirements. Your policy should include at least the following coverage amounts:

  • $20,000 for bodily injury liability per person
  • $50,000 for bodily injury liability per accident
  • $15,000 for property damage liability per accident

When you're on a tight budget, a liability-only car insurance policy might seem appealing. It covers expenses for the other driver if you're at fault in an accident but not for your own vehicle. To protect your own car, consider a full coverage car insurance policy, which includes collision and comprehensive coverages. These coverages safeguard against various non-collision incidents, such as theft or natural disasters.

Understanding the risks and benefits of each coverage type ensures you choose a plan that aligns with your circumstances.

Cheapest Car Insurance for Individuals With Low Income in Idaho

Credit history is crucial for drivers with low income in Idaho as it can significantly affect car insurance premiums. Insurers view lower credit-based insurance scores as a higher risk, leading to higher premiums. Maintaining a good insurance score can help reduce these costs.

The cheapest car insurance companies for drivers with low income and poor credit in Idaho are:

  • Idaho Farm Bureau: $448 per year; $37 per month
  • GEICO: $500 per year; $42 per month

Drivers with good credit can get the cheapest car insurance in Idaho from:

  • State Farm: $208 per year; $17 per month
  • American National P&C: $210 per year; $17 per month

In Idaho, driving without insurance is considered a misdemeanor and can lead to suspension of your driver’s license and vehicle registration and fines ranging from $175 to $1,000.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Idaho Farm Bureau$448$37
GEICO$500$42
Farmers$513$43
American Family$553$46
Travelers$602$50
State Farm$658$55
American National P&C$703$59
Allstate$749$62
Nationwide$775$65
Auto-Owners Insurance Co$828$69
Dairyland$1,225$102
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

Cheapest Car Insurance for Families With Low Income in Idaho

Income doesn't directly influence car insurance premiums. However, family status does. In Idaho, our analysis found that a single parent with a teen faces an annual rate that is $231 higher than a married couple with a teen, who enjoys a more affordable rate by $972 annually.

The most budget-friendly car insurance companies for a married couple with a teen in Idaho are:

  • State Farm: $398 per year; $33 per month
  • Auto-Owners: $408 per year; $34 per month

For a single parent with a teen, the cheapest options are:

  • State Farm: $629 per year; $52 per month
  • Auto-Owners: $650 per year; $54 per month

Married couples with a teen can often secure lower car insurance rates than single parents with the same number of dependents. This difference is due to the perceived stability and reduced risk associated with married policyholders. Regardless of family status, maintaining a solid credit score is key to qualifying for more affordable minimum coverage auto insurance rates.

Data filtered by:Results filtered by:
Family Type:
Family Type:Married Couple with Teen
State Farm$398$33
Auto-Owners Insurance Co$408$34
GEICO$560$47
Allstate$603$50
Farmers$709$59
Travelers$733$61
Nationwide$779$65

Cheapest Car Insurance for Seniors With Low Income in Idaho

Car insurance premiums typically decrease as you enter your early senior years, around ages 55 to 65. This is especially true if you maintain a clean driving record, which can result in lower costs. The two cheapest car insurance for senior drivers with low income and poor credit history are:

  • Idaho Farm Bureau: $374 per year; $31 per month
  • Farmers: $499 per year; $42 per month

After age 70, car insurance rates usually increase as older drivers are statistically seen as higher risk. This trend continues each year, leading to rising premiums. In Idaho, specific laws or guidelines may apply to seniors seeking car insurance, so it's wise to stay informed.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Idaho Farm Bureau$374$31
Farmers$499$42
GEICO$535$45
American Family$551$46
State Farm$624$52
Travelers$628$52
Nationwide$749$62
Allstate$790$66
American National P&C$808$67
Auto-Owners Insurance Co$856$71
Dairyland$1,163$97
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

What Factors Affect Car Insurance Rates in Idaho?

Car insurance rates in Idaho are influenced by several factors. While your income doesn't directly affect rates, having a low income that leads to a poor credit record may result in higher rates. Conversely, a good credit score can help you get lower rates. Understanding the factors contributing to car insurance rates can help you make informed decisions when choosing the best car insurance for you.

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    Driving record

    At-fault accidents and moving violations increase rates for drivers. Insurers see these as indicators of risky behavior, leading to higher premiums.

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    Age and gender

    Younger drivers and males often face higher rates. Insurers consider them higher risk due to less experience and statistical data on accidents.

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    Credit history

    Poor credit history can lead to higher rates. Insurers use credit-based insurance scores to predict the likelihood of filing a claim.

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    Location

    Urban areas usually have higher rates than rural areas. Higher traffic density and crime rates in cities increase the risk of accidents and theft.

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    Vehicle type

    Luxury and sports cars tend to have higher rates. These vehicles are more expensive to repair and replace, increasing insurance costs.

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    Coverage levels

    Higher coverage levels lead to higher costs. Minimum coverage is cheaper but offers less protection in case of an accident.

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    Insurance company

    Different insurers offer varying rates and discounts. It's essential to compare quotes to find the most affordable option.

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    Claims history

    A history of claims indicates a higher risk to insurers, which can increase your rates. If you can afford repairs, it might pay not to file a claim.

How to Save on Car Insurance in Idaho

You don't need a state-sponsored program to cut costs — finding affordable car insurance in Idaho is possible with the right strategies. Here are some tips to lower your premiums:

  1. 1
    Choose minimum coverage

    Opting for state-mandated minimum coverage can help you save on insurance costs while ensuring you meet legal requirements for driving.

  2. 2
    Comparison shop

    Obtain quotes from multiple insurers to compare rates and discounts. Shopping locally might help you discover the most affordable options in Idaho.

  3. 3
    Look for discounts

    Insurance companies offer various discounts, such as for maintaining a safe driving record, being a good student, military membership or bundling your policies.

  4. 4
    Increase your deductible

    When purchasing collision or comprehensive coverage, opting for a higher car insurance deductible can significantly reduce your monthly premium. Ensure you can afford the deductible if an accident occurs.

  5. 5
    Consider pay-per-mile insurance

    Pay-per-mile insurance is ideal for low-mileage drivers. You pay a base rate plus a fee per mile, ensuring you only pay for what you use.

  6. 6
    Bundle your policies

    Bundling auto insurance with other policies, such as homeowners or renters insurance, often leads to discounts. The best home and auto bundles can save you around $496 each year.

  7. 7
    Drive a cheaper car

    Your car's make, model and year significantly influence insurance costs. Driving the cheapest cars to insure can save you hundreds annually.

FAQ: Low-Income Car Insurance in Idaho

Finding affordable car insurance for drivers with low income in Idaho can be challenging. Get answers to some of the most commonly asked questions about low-income car insurance in the Gem State.

Does Idaho have a state-backed low-income car insurance program?

How can low-income families get affordable car insurance in Idaho?

Does your income affect the cost of car insurance in Idaho?

What are the benefits of usage-based telematics programs for drivers with low income in Idaho?

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.