Cheap Missouri Low-Income Car Insurance for Families and Individuals

There is no government car insurance program in Missouri that helps low-income drivers afford car insurance. To help low-income drivers save money on their premiums, MoneyGeek compared auto insurance companies in Missouri. We found State Farm offers the cheapest, low-income car insurance in Missouri for families and individuals.

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Last Updated: 11/25/2022
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Missouri insurance companies don’t consider your income when deciding your premium. Factors like adding a teen driver to your policy and credit score have the biggest impact on auto insurance costs in Missouri.

MoneyGeek found the cheapest auto insurance for low-income individuals and families with a poor or good credit score.

Is There Car Insurance for Low-Income Families and Individuals in Missouri?

There is no government program that helps provide cheap car insurance for low-income families and individuals in Missouri. Missouri requires drivers to carry insurance, but around 16.4% of drivers in Missouri remain uninsured, potentially due to the high cost.

A traditional minimum coverage policy is often the best option for low-income car insurance in Missouri. Drivers with low mileage per month may look into pay-per-mile insurance; it could be a cost-effective alternative for low-income Missouri drivers.

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Does Missouri Have a Government Program to Support Low-Income Drivers with Insurance?

In Missouri, there is no government-funded assistance program for low-income drivers. Comparing quotes from multiple companies is the simplest and, perhaps, the best approach to get low-cost auto insurance. MoneyGeek found the cheapest car insurance companies for low-income drivers in Missouri to help them save money.

The Cheapest Missouri Car Insurance Companies for Low-Income Drivers

Auto insurance companies cannot use income when computing policy prices in Missouri, but they consider other factors, like age and credit score, which often relate to income.

The most affordable auto insurance in Missouri is a minimum coverage policy. According to MoneyGeek’s research, the cheapest car insurance companies for low-income families or individuals in Missouri are State Farm and GEICO.

MoneyGeek also looked at the most affordable minimum coverage auto insurance in Missouri for low-income drivers based on their age.

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The Cheapest Missouri Car Insurance Companies for Low-Income Families

While your income has no effect on your car insurance premium, your family’s credit score can make a large impact. For MoneyGeek’s sample single parent in Missouri, the difference in rates between a poor credit score and a good credit score reached around $1,645 per year. A couple with a child pays around $1,950 more per year if they have a poor credit score than if they have a good credit score.

On average, for a couple with a child and a poor credit score, the cheapest Missouri insurers are:

  • GEICO: $2,241 per year
  • Allstate: $3,197 per year

USAA has the cheapest rate for a couple with a child — around $1,255 a year — but only military families can qualify.

On average, the lowest auto insurance providers in Missouri for single parents with poor credit are:

  • State Farm: $2,346 per year
  • Allstate: $3,086 per year

USAA offers an average rate of $1,024 per year for single parents with a military background and a poor credit score.

Low income doesn't necessarily mean a poor credit score. Toggle the table below to see different auto insurance rates for various low-income family profiles in Missouri.

Sort by family type:

Single parent w/ a kid

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $554
  • State Farm
    $1,269
  • Allstate
    $1,670
  • Allied
    $1,789
  • American Family
    $1,892
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The Cheapest Missouri Car Insurance Companies for Low-Income Individuals

For MoneyGeek’s sample 40-year-old driver in Missouri, rates differed by around $562 per year with a good or poor credit score.

On average, the most affordable companies for low-income drivers with poor credit in Missouri are:

  • State Farm: $833 per year
  • Allstate: $1,083 per year

USAA’s roughly $362 per year rate is cheaper for drivers with a poor credit score and eligible military background.

If you have a low income, it does not mean that you have a poor credit score. With a good credit score, State Farm costs around $451 per year, Allstate around $586 annually, and USAA $196 per year.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $196
  • State Farm
    $451
  • Allstate
    $586
  • Progressive
    $616
  • Allied
    $616

The Cheapest Missouri Car Insurance Companies for Low-Income Students

Due to their lack of driving experience, young student drivers in Missouri incur higher auto insurance costs. A college student’s income does not affect their auto insurance rate, but since many students have a low income, car insurance can take a significant portion of their income.

On average, the cheapest auto insurance companies for student drivers in Missouri with a poor credit score are:

  • State Farm: $1,653 per year
  • Allstate: $2,147 per year

With an average annual cost of $717, USAA is a low-cost choice for military family students.

Even if your salary is low, you may still have a good credit score. State Farm offers auto insurance for students with good credit at around $894 per year, Allstate is roughly $1,162 per year, and USAA is around $388 annually.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $388
  • State Farm
    $894
  • Allstate
    $1,162
  • Progressive
    $1,221
  • Allied
    $1,222

The Cheapest Missouri Car Insurance Companies for Low-Income Seniors

Car insurance premiums for senior drivers are moderately higher than for middle-aged drivers. Car insurance for low-income seniors in Missouri can go up more depending on their credit rating. For MoneyGeek’s sample 70-year-old driver, rates differed by $616 per year if they had a poor credit score versus a good credit score.

In Missouri, MoneyGeek found the following car insurance companies offer the average lowest prices for seniors with poor credit:

  • State Farm: $833 per year
  • Allstate: $1,076 per year

USAA offers the cheapest rate for low-income seniors with a military background, roughly $418 per year.

Just because you're a low-income senior does not mean you have a poor credit score. For low-income seniors with good credit, State Farm costs around $451 per year, Allstate roughly $582 per year, and USAA around $226 a year.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $226
  • State Farm
    $451
  • Allstate
    $582
  • Shelter
    $673
  • Allied
    $673

Does Income Affect Car Insurance Rates in Missouri?

Missouri insurance companies can’t use income as one of the criteria in determining your car insurance premium. They will consider other factors that could relate to income and impact your rate.

For example, people with lower incomes are more prone to make claims since they may be unable to pay for repairs themselves. Insurance companies impose higher premiums on drivers who have a history of claims.

MoneyGeek has discovered the primary factors that might link to income and how they affect car insurance rates in Missouri. The top three criteria include:

  • Adding a teen driver.
  • Credit score.
  • Coverage levels.

Your age and car model are also big factors for car insurance pricing in Missouri.

  • Factor
    How It Affects Your Rates
  • Adding a Teen Driver

    In Missouri, the biggest pricing factor is adding a teen driver, which raises rates by 2.9x.

  • Credit Score

    A driver with a poor credit score might pay 2.4x more than a driver with a good credit score.

  • Coverage Levels

    In Missouri, a full coverage policy could cost 2.1x more than the state minimum.

  • Age of Driver

    Young drivers may pay double that of middle-aged drivers.

  • Car Model

    Insurance might be twice as expensive depending on the model of your car.

Frequently Asked Questions About Low-Income Car Insurance in Missouri

You may have questions about low-income auto insurance in Missouri. MoneyGeek can help with our answers below to the most frequently asked questions about low-income car insurance for individuals and families in Missouri.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Missouri using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple (each 40 years old), or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Missouri.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.