Best Cheap Auto Insurance for Unemployed Drivers in Indiana

One of the more important things that determine car insurance rates is where you choose to live in Indiana. Areas with more people or higher crime rates like Gary, Merrillville, and Indianapolis tend to pay higher rates, whereas areas with less crime or weather claims have the luxury of lower rates.

The illustration below sorts the highest-priced areas in Indiana for unemployed drivers in which to purchase auto insurance.

Prices are estimated as zip code location can lower or raise auto insurance rates substantially.

Trying to buy affordable auto insurance is not the easiest thing to accomplish, and figuring out which companies quote the cheapest insurance rates for unemployed drivers will involve even more shopping around.

Each insurance company has a unique formula to set their prices, so first we will examine the insurance companies with the most affordable rates in Indiana. It’s important that you understand Indiana insurance rates are calculated based on many things that will increase or decrease the price of your policy. This price variation is why Indiana drivers need to perform an extensive rate comparison when trying to find the cheapest car insurance rates for unemployed drivers. Prices are calculated by many risk factors and can increase or decrease at any time, so the most economical company the last time you compared rates may now be wasting a lot of money.

Cheap Insurance Rates for Job Seekers

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Travelers offers some of the lowest car insurance rates in Indiana at around $614 each year. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual would also be considered some of the most economical Indiana auto insurance companies.

As depicted above, if you have coverage with Erie and switched to Cincinnati Insurance, you could see a yearly savings of upwards of $48. Customers with Indiana Farmers Mutual could save as much as $163 a year, and Western Reserve policyholders might lower prices by $194 a year.

To see if your current coverage is too expensive, click here to start your custom quote or visit any of the companies below.

Remember that these estimates are averaged across all insureds and vehicles and do not factor in a rate decrease for unemployed drivers. So the auto insurance company that has the lowest price for you may not even be shown in the chart above. That’s why you need to get car insurance quotes using your own specific driver and vehicle information.

The vehicle model driven is probably the most important factor that determines if you can find cheaper insurance for unemployed drivers. Vehicles with lots of horsepower, poor safety features, or a history of substantial liability claims will cost quite a bit more to insure than safer models.

The data below shows auto insurance premiums for a handful of the most budget-friendly vehicles to buy coverage for.

Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Table data does not factor in specific location which can decrease or increase coverage rates noticeably.

Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Table data does not factor in specific location which can change coverage rates considerably.

Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Table data does not factor in specific zip code location which can influence premiums significantly.

The illustration below highlights how deductible choice can increase or decrease premium costs when quoting cheap insurance for unemployed drivers. The rates are based on a single female driver, full coverage, and no discounts are applied to the premium.

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The data above shows that a 40-year-old driver could cut expenses by $310 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $468 by using a $1,000 deductible. Young drivers, like the 20-year-old, can save as much as $790 or even more just by using higher deductibles.

When insureds make the decision to increase the deductibles on their policy, it will be required to have additional funds squirreled away to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Accidents and violations increase rates

The ideal way to snag the cheapest insurance rates in Indiana for the unemployed is to pay attention while driving and avoid accidents and traffic violations. The illustration below shows how speeding tickets and at-fault accidents can increase auto insurance costs for different age groups. The premium estimates are based on a single male driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and One Accident’],[‘Age 20’, 2003,2375,2753],[‘Age 30’, 1063,1433,1815],[‘Age 40’, 1033,1403,1783],[‘Age 50’, 945,1317,1697],[‘Age 60’, 917,1289,1671],[‘Age 70’, 1141,1513,1889]]);var options = {title: ‘Accidents, Violations, and Indiana Insurance Prices’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Indiana’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data charted above shows the average cost of car insurance in Indiana per year with a clean driving record and no accidents is $1,184. Factor in two speeding tickets and the average cost increases to $1,555, an increase of $371 each year. Then add one accident along with the two speeding tickets and the yearly cost of insurance for unemployed drivers jumps again to an average of $1,935. That’s an increase of $751, or $63 per month, just for being a little careless behind the wheel!

How to find budget-friendly insurance for unemployed drivers

The list below shows some thrifty suggestions that can help drivers locate cheaper coverage.

• At-fault accidents will increase rates
• Raise deductibles
• Buy vehicles with five-star safety ratings
• Good credit can save money
• Save money by obeying traffic laws and keeping a clean driving record
• Shop around for cheaper prices

The last idea is remarkably valuable, as we emphasized in this piece. Insurance rates in Indiana fluctuate constantly, so don’t hesitate to switch companies if a better deal can be had. Staying with the same car insurance company is fine, but it’s not a good idea if that loyalty results in overpaying hundreds of dollars year after year. It only take a few minutes to compare rates and find cheaper car insurance for unemployed drivers.