Who Has the Cheapest Car Insurance for Unemployed Drivers in Vermont?

Since we’re writing about car insurance, the word cheap should never be used anywhere in the article to describe car insurance rates. Forgive the oxymoron, but cheap auto insurance for unemployed drivers is not always easy to find. Don’t let that bother you, though, because we are going to tell you how you can quote car insurance that doesn’t cost an arm and a leg.

Figuring out which insurers offer the lowest-priced insurance rates for unemployed drivers requires a tad more effort in order to find the lowest price. Every insurance provider has a different process for setting prices, so we need to take a look at the lowest cost insurance companies in Vermont.

We do need to point out that Vermont insurance rates are calculated based on many things that will increase or decrease the policy price. Turning one year older, adding a teenager to your policy, or getting a couple of tickets can cause premium changes that may make certain companies cheaper in comparison to the competition.

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Safeco quotes some of the best car insurance rates in Vermont at around $463 a year. California Casualty, The Hartford, USAA, and Unitrin are also some of the cheapest Vermont car insurance companies.

As shown in the rates above, if you are a customer of USAA and switched to California Casualty, you could realize an annual premium reduction of in the vicinity of $134. Vermont drivers with Unitrin could save as much as $213 a year, and Travelers customers might reduce rates by $225 a year.

These rates are averaged across all drivers and vehicles in Vermont and do not factor in a rate discount for unemployed drivers. So the insurer that can offer you the best rate may not even be in the above list. That underscores the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.

When shopping for insurance for the unemployed, one of the many components that determine auto insurance rates is where you call home in Vermont. Cities that have higher claim levels or more people like Brattleboro, Newport, and Springfield tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents have the enjoyment of a little cheaper coverage.

The information below displays the more expensive cities in Vermont for unemployed drivers to purchase auto insurance in.

Prices are approximated as zip code location can raise or lower auto insurance rates noticeably.

The cost and performance of the vehicle that is being insured is one of the main factors when trying to find the cheapest car insurance for unemployed drivers in Vermont. Vehicles with lower acceleration and performance, an excellent safety record, or a positive history of liability claims will cost less to insure than adrenaline junky models.

The lists below outlines coverage premiums for a selection of the most affordable vehicles to buy insurance for.

Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Information does not factor in Vermont location which can impact insurance rates substantially.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Price estimates do not factor in specific garaging location which can modify coverage prices significantly.

Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Vermont minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Rate information does not factor in specific location which can revise price quotes substantially.

How to get discounts on Vermont auto insurance rates

Insurers that sell the cheapest car insurance for unemployed drivers in Vermont may have discounts that can reduce rates by 30% or more if you qualify for them. A list of companies and their possible discounts include:

The example below illustrates the comparison of insurance prices with and without discounts applied to the rates. The data assumes a male driver, a clean driving record, no claims, Vermont state minimum liability limits, comp and collision included, and $250 deductibles.

The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, vehicle safety, multiple policy, defensive driving course, and safe-driver discounts applied. With discounts applied, the average amount saved each year on insurance for unemployed drivers is % or $.

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Does it make sense to buy full coverage?

Finding the cheapest car insurance for unemployed drivers in Vermont should be important to most people, and an effective way to buy cheap insurance is to only pay for liability coverage. The information below illustrates the difference between annual premium costs with and without physical damage coverage. The rates are based on no accidents or driving violations, $500 deductibles, marital status is single, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 2571,959],[‘Age 30’, 1333,529],[‘Age 40’, 1313,491],[‘Age 50’, 1201,461],[‘Age 60’, 1163,453],[‘Age 70’, 1437,603]]);var options = {title: ‘Full Coverage and Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Vermont’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If the expense is averaged for all age categories, full coverage costs $1,503 per year more than insuring for liability only. Many drivers may wonder when is the right time to remove full coverage. There isn’t a steadfast formula to eliminate full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

Is Allstate, Geico, State Farm, or Progressive cheaper?

If you are looking for the best auto insurance, probably the best companies to start with are Allstate, Geico, State Farm, and Progressive. When added together, they insure nearly half of all auto insurance policies in force. All four offer physical damage and liability coverage, but each has unique features and discounts that may affect your buying decision. The table below illustrates price, claims, and customer service ratings, as well as some optional coverages that are available for policyholders.

Cheapest insurance quotes for the unemployed

Drivers have a lot of different ways to get affordable insurance quotes in Vermont, but the most popular are either through an exclusive agency such as Allstate or Auto-Owners, a non-exclusive or independent agent, or direct from companies such as Geico or Progressive. They all follow the same basic process, but shoppers should understand the differences in how they work.

Independent insurance agencies write business for many companies and can do rate comparisons with every one. These types of agents can compare multiple rates, which may give you a better chance of saving money. If cheaper coverage is found, the agent simply finds a different carrier and you can remain with the same agent.

An exlusive, or captive, agency is only able to quote rates from just one company, two examples being Allstate and Liberty Mutual agents. Exclusive agents cannot provide other companys’ prices, so you might not find the best rates.

The final way is buying direct, which means you forego either of the other two types of agents and buy direct online or over the phone from a company like Progressive or Geico. Shopping for insurance direct may be a decent choice people who do not have a lot of assets and know more than average about what coverages, limits, and deductibles they need.

Out of those three methods, which one works best for finding the cheapest car insurance for unemployed drivers in Vermont? We wish we could say buying direct saves the most money because there is no agent involved, but in reality, that argument does not hold true. We could also say that going through an independent agent guarantees the lowest rates since they have access to many companies, but that assumption is also not accurate. And often times, the exclusive agents may have very competitive prices that cannot be met by either independent or direct companies.

Since insurance prices vary so much, the best method to not overpay for insurance is to compare lots of quotes. It takes a little work, but we recommend you get price quotes all three ways in order to be able to find the lowest price. For a list of companies offering online discounts, click here to view.