You have most likely watched the catchy advertisements from companies like The General and Nationwide claiming the cheapest price, so you should just choose any one of them, right?
Unfortunately, it's not that simple as there are a whole bunch of unknown factors such as the number of miles you drive in a year, how many years you have been driving, the crash test ratings of your vehicle, and whether you want full coverage. This article goes into detail about the different ways you can keep rates low and educate you enough to have a good beginning to your quest for cheaper car insurance for job seekers.
One of the many things that help determine car insurance rates is where you choose to live in Nevada. Areas with increased crime or more people like Winchester, Sunrise Manor, and Enterprise will most likely have higher rates, whereas less populated areas get the luxury of paying less.
The table below sorts the most expensive areas in Nevada for unemployed drivers to buy car insurance in.
|Rank||City||Premium Per Year|
|7||North Las Vegas||$1,844|
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Premium costs are comparative as the specific Nevada residence address can lower or raise premium rates greatly.
The car, truck, or SUV you are trying to insure is a large factor when comparing quotes for the cheapest car insurance for unemployed drivers. Vehicles with lots of horsepower, poor crash test ratings, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models.
The next list estimates car insurance costs for the most affordable vehicles to insure in Nevada.
|Make and Model||Estimated Cost for Full Coverage|
|Jeep Wrangler Sport 4WD 2-Dr||$684|
|Honda Odyssey LX||$725|
|Honda CR-V LX 4WD||$756|
|Ford Edge Limited 2WD||$765|
|Jeep Grand Cherokee Laredo 2WD||$780|
|Chevrolet Malibu LT||$795|
|Honda Accord LX-P 4-Dr Sedan||$810|
|Hyundai Elantra GLS 4-Dr Sedan||$821|
|Ford Escape Limited 4WD||$831|
|Ford Fusion Sport 4-Dr Sedan||$835|
|Chevrolet Silverado LT Regular Cab||$839|
|Ford Explorer XLT AWD||$848|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$852|
|Honda Civic SI 4-Dr Sedan||$861|
|Ford F-150 XL Crew Cab 4WD||$865|
|Chevrolet Impala LS||$880|
|Hyundai Sonata SE 4-Dr Sedan||$887|
|Toyota RAV4 Limited 4WD||$896|
|Chevrolet Equinox LS 2WD||$905|
|Toyota Tacoma Double Cab 4WD||$913|
|Toyota Camry XLE||$942|
|Volkswagen Jetta SE 4-Dr Sedan||$959|
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Information does not factor in specific location which can affect coverage prices significantly.
Looking at the data, we can conclude that vehicles like the Jeep Wrangler, Honda Odyssey, and Honda CR-V are likely to be a few of the most affordable vehicles to insure for the unemployed.
Insurance rate increases from tickets or accidents
The recommended way to get cheap auto insurance premiums for the unemployed is to drive attentively and avoid at-fault accidents and violations. The information below shows how violations and at-fault fender-benders can drive up auto insurance costs for each age group. The costs are based on a married female driver, full coverage, $100 deductibles, and no discounts are factored in.
The data above shows the average cost of car insurance in Nevada per year with no accidents and a clean driving record is $1,366. Receive two speeding tickets and the average cost hikes up to $1,943, an increase of $578 each year. Now throw in one accident along with the two speeding tickets and the annual cost of auto insurance for unemployed drivers in Nevada goes up to an average of $2,522. That's an increase of $1,156, or $96 per month, just for not being more responsible behind the wheel!
The diagram below illustrates how choosing a deductible can increase or decrease insurance costs when trying to find cheap insurance for unemployed drivers in Nevada. The prices are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could pocket $304 a year by changing from a $100 deductible to a $500 deductible, or save $460 by changing to a $1,000 deductible. Young drivers, like the Age 20 chart data, have the ability to save $1,002 each year by using a higher deductible. When raising deductibles, it is a good idea to have enough savings set aside to be able to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
How much more does full coverage cost?
Finding cheaper auto insurance is probably important to the majority of people, and one of the quickest ways to reduce the cost of insurance for unemployed drivers in Nevada is to not insure for full coverage. The information below illustrates the difference between insurance costs with and without full coverage. The rate quotes are based on no claims or violations, $500 deductibles, marital status is single, and no policy discounts are applied.
If we average the cost for all age groups, comp and collision coverage costs an additional $1,455 per year more than just buying liability only. At some point, almost every driver questions if full coverage is worth the money. There is no definitive formula of when to eliminate physical damage insurance, but there is a guideline you can consider. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
Ideas for buying more affordable auto insurance for unemployed drivers
Lowering your rates is not difficult, and here are many penny-pinching ideas that can help you locate more affordable coverage.
- Avoid getting citations and tickets
- Drop full coverage on older vehicles
- Raise deductibles to save money
- Lower rates by purchasing a safer vehicle
- Improve your credit
- Do not get into accidents
- Comparison shop frequently
The last item on the list is extremely crucial, as was stressed in this piece. Prices charged by car insurance companies can change considerably in a year, so don't be afraid to switch companies if a lower-cost policy is available. Sticking with a specific company is fine, but it's not recommended if that stubbornness costs you a considerable chunk of change every month. Now is a great time to compare rates and find cheaper insurance for unemployed drivers.