Cheapest Car Insurance for Unemployed Drivers in Mississippi

You have most likely watched the ads from car insurance companies like Progressive, Liberty Mutual, and Nationwide that guarantee huge savings, so drivers should just choose the one with the most memorable commercial, right?

It’s just not that simple, as there are a whole slew of unknown elements like your credit rating, your age, if you currently have coverage, and the amount of coverage you want, that all help calculate your car insurance rates. The content below covers some of these criteria and will give you a good start to your coverage search.

Performance level and cost of the vehicle to be insured is one of the largest factors when comparison shopping for the most economical insurance for unemployed drivers. Vehicles with lower performance, a great safety record, or low incidents of liability claims will cost much less to insure than adrenaline junky models. The information below features coverage rates for the most cost-effective automobiles to buy insurance for.

Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Mississippi minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rate information does not factor in garaging location in Mississippi which can raise or lower premiums noticeably.

Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Mississippi minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in specific Mississippi garaging location which can raise or lower coverage prices considerably.

Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Mississippi minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Rates do not factor in specific location information which can alter insurance rates noticeably.

Figuring out which insurers offer the best auto insurance rates for unemployed drivers requires a bit more work than just quoting one company’s rates. Each insurer has a proprietary formula for setting rates, so let’s take a look at the lowest cost auto insurance companies in Mississippi.

It’s important to know that Mississippi auto insurance rates are based on many factors which can substantially decrease or increase the cost of having a policy. Improving your credit score, increasing liability limits, or having an accident may cause policy rate changes that may make certain companies more affordable than before.

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USAA normally has some of the most affordable car insurance rates in Mississippi at around $831 a year. Travelers, Unitrin, Direct General, and ALFA would also be considered some of the best Mississippi insurance companies.

As shown in the table above, if you have coverage with Direct General and switched to Travelers, you might see an annual savings of about $261. Insureds with ALFA may save as much as $320 a year, and Southern Farm Bureau insureds might reduce rates by $378 a year.

If you want to see how much you could save, click here to start your free quote or quote prices from the following companies.

Understand that those premium estimates are averages across all ages of drivers and types of vehicles and do not take into consideration a rate discount for unemployed drivers. So the car insurance company that has the cheapest price for you may not even be in the rate chart shown above. That illustrates why you need to get auto insurance quotes using your own driver data and vehicle information.

One of the key things that help set the price of your policy is where you call home. Cities with more crime and/or more people like Natchez, Jackson, and Ocean Springs will most likely have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.

The information below shows the highest-priced areas in Mississippi for unemployed drivers to buy an auto insurance policy in.

Information shown are estimated as the vehicle garaging location can alter rates significantly.

Types of discounts on Mississippi car insurance

Insurance providers that sell the cheapest car insurance for unemployed drivers in Mississippi could also offer special discounts that could potentially reduce rates by as much as 25% or more if you meet specific eligibility requirements. A list of auto insurance companies and some of the premium reductions they offer are detailed below.

• Farmers Insurance may offer discounts for mature driver, early shopping, good student, distant student, and youthful driver.
• State Farm may have discounts that include student away at school, multiple autos, good student, good driver, defensive driving training, driver’s education, and Drive Safe & Save.
• Liberty Mutual offers premium reductions for multi-car, good student, new vehicle discount, safety features, new graduate, and teen driver discount.
• MetLife offers discounts for accident-free, claim-free, good student, defensive driver, good driver, and multi-policy.
• Progressive policyholders can earn discounts including online signing, multi-policy, online quote discount, good student, continuous coverage, homeowner, and multi-vehicle.

The illustration below illustrates the difference between insurance costs with and without discounts being applied to the rates. The prices are based on a female driver, no accidents or driving violations, Mississippi state minimum liability limits, comp and collision included, and $500 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with homeowner, vehicle safety, safe-driver, multiple policy, passive restraint, and anti-theft discounts applied. When discounts are factored in, the average amount saved each year on auto insurance for unemployed drivers is 28% or $437.

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The information below shows how choosing a deductible can change premium costs when getting quotes for cheap insurance for unemployed drivers. Data assumes a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

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The chart above illustrates that a 30-year-old driver could save $350 a year by changing from a $100 deductible to a $500 deductible, or save $528 by using a $1,000 deductible. Younger drivers, like the Age 20 category, can save as much as $776 every year just by choosing higher deductibles when buying full coverage. When raising deductibles, it will now be necessary to have plenty of money set aside to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.

Allstate, Geico, Progressive, and State Farm compared

When comparing auto insurance for the unemployed in Mississippi, the four most popular companies are Allstate, Geico, Progressive, and State Farm. The next table rates some of the ratings and options shoppers can find with each company.