The make and model of vehicle driven is one of the largest considerations when comparing the lowest-priced coverage for unemployed drivers. Vehicles with high performance, poor safety features, or high incidents of liability claims will cost more to insure than more economical and safe models. The information below showcases car insurance premiums for a selection of the most budget-friendly vehicles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Toyota Prius | $1,311 |
| Honda CR-V LX 4WD | $1,353 |
| Chevrolet Impala LS | $1,375 |
| Ford Edge Limited 2WD | $1,384 |
| Ford Escape Limited 2WD | $1,385 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,402 |
| Chevrolet Equinox LS 2WD | $1,411 |
| Toyota RAV4 Limited 2WD | $1,402 |
| Ford Explorer Limited 4WD | $1,430 |
| Toyota Tacoma Double Cab 4WD | $1,437 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,449 |
| Ford F-150 Lariat Crew Cab Harley 4WD | $1,526 |
| Ford Focus S 4-Dr Sedan | $1,573 |
| Honda Accord EX-L 2-Dr Coupe | $1,602 |
| Toyota Camry Hybrid | $1,610 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,602 |
| Kia Optima EX | $1,607 |
| Jeep Grand Cherokee Laredo 4WD | $1,605 |
| Ford Fusion S 4-Dr Sedan | $1,614 |
| Dodge Grand Caravan SE | $1,625 |
| Dodge Ram Quad Cab Sport 2WD | $1,627 |
| Chevrolet Malibu Hybrid | $1,716 |
| Volkswagen Jetta S 4-Dr Sedan | $1,723 |
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Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in the specific area where the vehicle is garaged which can decrease or increase auto insurance rates noticeably.
Looking at the data, vehicles like the Toyota Prius, Honda CR-V, Chevrolet Impala, Ford Edge, and Ford Escape are most likely going to be some of the more affordable vehicles to insure for the unemployed.
Finding dependable, affordable car insurance is confusing at best, and deciding which companies offer the lowest-priced insurance rates for unemployed drivers involves even more work. Every car insurance company uses their own formula for establishing rates, so let’s begin by taking a look at the most budget-friendly insurance companies in Charlotte, NC.
It’s a good idea to be aware that Charlotte insurance rates are calculated based on many things that may substantially change the cost of a policy. This price variability is why it is critical to spend some time comparing rates to get affordable car insurance quotes for unemployed drivers. Rates can be altered by many different factors and can decrease or increase without notice, so the best option three years ago may now be one of the higher cost companies.
Compare Cheap Insurance Quotes for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $643 |
| 3 | NC Farm Bureau | $709 |
| 4 | Penn National | $717 |
| 5 | Liberty Mutual | $728 |
| 6 | GEICO | $750 |
| 7 | Titan | $759 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $844 |
| 10 | Travelers | $900 |
| 11 | Erie | $904 |
| 12 | National General | $908 |
| 13 | Allied | $928 |
| 14 | Peerless | $972 |
| 15 | MetLife | $1,007 |
| 16 | Nationwide | $1,031 |
| 17 | Encompass | $1,031 |
| 18 | Unitrin | $1,032 |
| 19 | Safeco | $1,076 |
| 20 | Allstate | $1,097 |
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Progressive may have some of the lowest car insurance rates in Charlotte at around $632 annually. Utica National, NC Farm Bureau, Penn National, and Liberty Mutual also make the cut as some of the cheapest Charlotte, NC auto insurance companies.
In the above rates, if you currently have coverage with Utica National and switched to Progressive, you could earn savings of in the neighborhood of $11. Customers with NC Farm Bureau could save as much as $77 a year, and Penn National customers might lower prices by $85 a year.
Remember that these rates are averaged for all drivers and vehicles and do not factor in a specific vehicle garaging location for unemployed drivers. So the company that fits your situation best may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.
Discounts on Charlotte auto insurance rates
Insurance companies that offer quotes for unemployed drivers may additionally offer premium discounts that could lower prices by as much as 35% or more if you meet the requirements. A few popular companies and some of the discounts are outlined below.
- State Farm may have discounts that include Drive Safe & Save, safe vehicle, Steer Clear safe driver discount, defensive driving training, accident-free, and good driver.
- GEICO offers premium reductions for good student, air bags, federal employee, anti-lock brakes, defensive driver, and multi-policy.
- Progressive offers discounts including homeowner, multi-vehicle, continuous coverage, online quote discount, and online signing.
- 21st Century may include discounts for automatic seat belts, good student, defensive driver, teen driver, driver training, and homeowners.
- American Family policyholders can earn discounts including good student, defensive driver, good driver, accident-free, bundled insurance, and air bags.
- The Hartford has discounts for good student, anti-theft, air bag, bundle, defensive driver, and vehicle fuel type.
- AAA discounts include good driver, good student, multi-policy, education and occupation, anti-theft, pay-in-full, and multi-car.
The example below shows the comparison of premium costs with and without discounts applied to the policy premium. The premium estimates are based on a female driver, no violations or claims, North Carolina state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with safe-driver, passive restraint, multiple policy, multiple vehicle, claim-free, and vehicle safety discounts applied. When these discounts are applied, theamount saved on insurance for unemployed drivers is 28% or $416.
Driving violations and accidents
The easiest method to maintain the cheapest insurance rates for the unemployed is to drive cautiously and avoid getting tickets or having accidents. The chart below shows how traffic citations and at-fault collisions raise insurance prices for different ages of insureds. The prices are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of a car insurance policy in North Carolina per year with no accidents or violations is $1,125. Add in one speeding ticket and the average cost surges to $1,275, an increase of $150 each year. Now add two accidents along with the one speeding ticket and the annual cost of insurance for unemployed drivers goes up to an average of $2,617. That’s an increase of $1,492, or $124 per month, just for not driving safely!
The diagram below shows how choosing a deductible can increase or decrease annual premium costs when trying to find cheap insurance for unemployed drivers. The premiums are based on a single female driver, full physical damage coverage, and no other discounts are factored in.
The data above shows that a 30-year-old driver could lower their car insurance rates by $314 a year by switching from a $100 deductible to a $500 deductible, or save $474 by switching to a $1,000 deductible. Young drivers, like the 20-year-old example, could save up to $700 every year just by choosing larger deductibles.
When raising deductibles, it will now be necessary to have emergency funds available to be able to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
If you would rather have a consultation when shopping for cheaper insurance for the unemployed, the agents below can help you decide which policy fits your needs best.
To find a Charlotte insurance agent using an interactive map, click the button at the bottom.
- Todd Younker – State Farm Insurance Agent
7725 Matthews-Mint Hill Road – Charlotte, NC 28227 – (704) 545-9111 - Nationwide Insurance: Timothy G Hausmann Agency
2313 Randolph Rd – Charlotte, NC 28207 – (704) 332-0011 - All Points Insurance Agencies
5618 Albemarle Rd # 200 – Charlotte, NC 28212 – (980) 221-9468