The type of vehicle you are seeking coverage for is one of the primary factors when consumers are trying to find the most economical insurance for unemployed drivers. Vehicles with lower acceleration and performance, excellent safety ratings, or low incidents of liability claims will cost significantly less to insure than higher performance models. The data below estimates auto insurance costs for a number of the most budget-friendly automobiles to insure in California.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $947 |
| Ford F-150 STX Regular Cab 2WD | $1,039 |
| Honda CR-V EX-L 4WD | $1,059 |
| Ford Edge SEL 2WD | $1,101 |
| GMC Sierra SL Extended Cab 2WD | $1,120 |
| Toyota RAV4 Limited 4WD | $1,128 |
| Dodge Grand Caravan Hero | $1,120 |
| Nissan Altima 2.5 4-Dr Sedan | $1,125 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,136 |
| Toyota Prius | $1,151 |
| Hyundai Elantra SE Touring Station Wagon | $1,156 |
| Ford Explorer Eddie Bauer 2WD | $1,160 |
| Honda Odyssey EX-L W/Navigation | $1,180 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,217 |
| Chevrolet Impala LT | $1,228 |
| Chevrolet Malibu LS | $1,237 |
| Honda Accord LX-S 2-Dr Coupe | $1,261 |
| Chevrolet Equinox LS 2WD | $1,263 |
| Ford Focus SES 4-Dr Sedan | $1,270 |
| Toyota Camry Hybrid | $1,283 |
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Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Table data does not factor in vehicle garaging location which can affect prices greatly.
Based upon the table data, you can presume that vehicles like the Ford Escape, Ford F-150, Honda CR-V, and Ford Edge are most likely going to be some of the cheapest vehicles to insure for the unemployed.
One of the more important things that help determine the amount you pay each year for auto insurance is where you keep your car in San Jose. Cities with larger populations or higher claim trends are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates profit from lower rates.
The illustration below ranks the highest-priced places in California for unemployed drivers to buy car insurance in. San Jose is ranked #18 with a yearly cost of $1,437 for the average insurance policy, which is approximately $120 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Glendale | $2,121 |
| 2 | Los Angeles | $2,083 |
| 3 | Oakland | $1,755 |
| 4 | San Francisco | $1,745 |
| 5 | Sacramento | $1,652 |
| 6 | San Bernardino | $1,644 |
| 7 | Stockton | $1,588 |
| 8 | Santa Clarita | $1,580 |
| 9 | Long Beach | $1,578 |
| 10 | Fontana | $1,566 |
| 11 | Garden Grove | $1,554 |
| 12 | Riverside | $1,527 |
| 13 | Fresno | $1,502 |
| 14 | Modesto | $1,502 |
| 15 | Moreno Valley | $1,491 |
| 16 | Santa Ana | $1,453 |
| 17 | Anaheim | $1,444 |
| 18 | San Jose | $1,437 |
| 19 | Bakersfield | $1,394 |
| 20 | Irvine | $1,384 |
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Premium amounts are approximated as zip code location can modify rates substantially.
Liability-only versus full coverage
Paying a lower price for auto insurance is important to the majority of people, and one common way to find cheaper insurance for unemployed drivers is to buy only liability coverage. The illustration below shows the difference between insurance prices with full coverage compared to only the California minimum liability coverage. The data is based on no accidents, no driving violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs an additional $3,385 per year more than buying just liability insurance. A very common question is when is it a good idea to stop buying full coverage. There is no definitive guideline that works best for making the decision to drop full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s settlement value is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $6,500 after paying your policy deductible. If it’s costing you more than $650 annually for full coverage, then it might be time to consider dropping full coverage.
Get discounts on San Jose auto insurance rates
Insurance companies that provide policies for unemployed drivers may also give you policy discounts that may potentially lower prices by as much as 35% or more if you qualify. The best auto insurance companies and some of the premium reductions they offer include:
- State Farm discounts include good student, Drive Safe & Save, driver’s education, Steer Clear safe driver discount, safe vehicle, and good driver.
- GEICO policyholders can earn discounts including defensive driver, air bags, multi-policy, five-year accident-free, and seat belt use.
- Progressive includes discounts for multi-vehicle, multi-policy, online quote discount, homeowner, continuous coverage, and good student.
- 21st Century has discounts for air bags, theft prevention, 55 and older, student driver, automatic seat belts, teen driver, and defensive driver.
- American Family has savings for multi-vehicle, bundled insurance, mySafetyValet, good student, good driver, accident-free, and TimeAway discount.
- The Hartford may have discounts that include air bag, bundle, defensive driver, anti-theft, vehicle fuel type, driver training, and good student.
- AAA may include discounts for good driver, multi-car, education and occupation, anti-theft, pay-in-full, multi-policy, and AAA membership discount.
The illustration below illustrates the difference between auto insurance rates with and without discounts applied. The rates are based on a female driver, a clean driving record, no claims, California state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with claim-free, marriage, homeowner, passive restraint, multiple vehicle, and accident-free discounts applied. With discounts applied, theamount saved on auto insurance for unemployed drivers is 28% or $662.
Ideas to find economical auto insurance for unemployed drivers
Below you’ll find some of the better penny-pinching solutions that can help San Jose drivers get lower-cost car insurance.
- Be a safe driver
- Multi-policy discounts save money
- Earn a discount by not filing claims
- Increase your credit score
- Increase your comprehensive and collision deductibles
- Accident-free drivers may qualify for discounts
- Comparison shop at least once a year
The last item on the list is particularly vital, as was stressed in the prior article. Prices charged by car insurance companies in San Jose can change significantly in a year, so drivers shouldn’t be reluctant to buy a different policy if you can find a cheaper rate.
Many consumers stick with the same company and that’s fine, but we do not recommend it if your bullheadedness ends up costing you money that could be going to better use. Spend a few minutes and shop around to find cheaper auto insurance for unemployed drivers.