Cheapest Car Insurance Quotes for Unemployed Drivers in Idaho

Trying to find low-cost car insurance is challenging, and finding out which companies offer the lowest-priced car insurance rates for unemployed drivers involves even more shopping around. Every insurance company has their own guidelines for determining prices, so we’ll go over the car insurance companies with the overall best prices in Idaho.

It’s important to know that Idaho car insurance rates are calculated based on many things that may substantially change the price you pay. Events like a birthday, moving to a new city, or getting a driving violation can trigger changes in premium that may make certain companies more affordable than before.

Find the Cheapest Auto Insurance for Job Seekers

Get a Free Quote and Save

American National may offer some of the lowest car insurance rates in Idaho at around $247 per year. Farm Bureau of ID Group, USAA, Oregon Mutual, and Travelers also rank well as some of the most economical Idaho auto insurance companies.

In this example, if you have coverage with Oregon Mutual and switched to American National, you might achieve a yearly savings of roughly $405. Drivers with Travelers could save as much as $439 a year, and Auto-Owners customers might lower prices by up to $465 a year.

Remember that these premiums are averaged across all insureds and vehicles and do not take into consideration a price discount for unemployed drivers. So the insurer that has the cheapest price for you may not even be in the list of companies shown earlier. That underscores the importance of why you need to get rate quotes from many companies using your own specific driver and vehicle information.

For the unemployed, one of the big factors that car insurance companies take into consideration when calculating the policy price is where your car is garaged. Areas with more people or even just a higher incidence of claims like Moscow, Rexburg, and Idaho Falls tend to pay more, whereas areas that are not as densely populated generally benefit from lower car insurance rates.

The next table illustrates the highest-priced areas in Idaho for unemployed drivers to purchase car insurance in.

Rates are approximated as vehicle location can decrease or increase premium rates greatly.

The car, truck, or SUV requiring coverage is one of the main factors when looking for the best cheap auto insurance for unemployed drivers. Vehicles with economical engines, good crash test ratings, or a low likelihood of having liability claims will cost less to insure than high performance models. The information below showcases auto insurance costs for a number of the more afforable automobiles to buy insurance for.

Prices based on married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Idaho minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Price information does not factor in your specific Idaho location which can increase or decrease coverage rates significantly.

Looking at the numbers, cars like the Honda CR-V, Ford Escape, Hyundai Tucson, Toyota Prius, and Ford Explorer are most likely going to be some of the cheaper vehicles to insure for the unemployed.

Cost comparison with and without full coverage

Finding the cheapest auto insurance for unemployed drivers in Idaho is probably important to the majority of people, and one common way to buy cheaper insurance is to not insure for full coverage. The diagram below compares car insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 2325,723],[‘Age 30’, 1211,401],[‘Age 40’, 1199,373],[‘Age 50’, 1093,349],[‘Age 60’, 1057,345],[‘Age 70’, 1279,457]]);var options = {title: ‘Full Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Idaho’,minValue: 0,format: ‘$###,###’},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);}

As an average, full coverage on your policy costs an additional $1,361 per year over and above liability only. That raises the question when is the right time to remove full coverage. There is no clear-cut formula of when to eliminate full coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let’s say your vehicle’s replacement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after the policy deductible has been paid. If it’s costing in excess of $200 annually to have full coverage, then you may need to consider dropping full coverage.

There are a few situations where dropping full coverage is not financially feasible. If you haven’t paid off your loan, you must maintain physical damage coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should maintain full coverage.

Who has the cheapest insurance quotes for the unemployed?

There are a variety of different ways to get cheap car insurance quotes in Idaho, but the most frequently used methods are using an exclusive insurance agent like State Farm or Liberty Mutual, a non-exclusive or independent agent, or direct either online or via phone. They all have the same basic principle, but it’s important to point out the distinctions in how they price policies.

Independent insurance agencies have contracts with multiple insurance companies and can quote your policy with every one. These agents are not employed by only one company and can give you more rate choices, which can give you a better comparison. If your agent finds a cheaper company, your policy can be easily switched to a different company and you stay with the same agent.

A captive, or exclusive, agent is restricted to quoting rates for one company, a couple examples are Farmers Insurance or State Farm agents. These agents are not able to provide a range of price quotes, so keep that in mind.

Choosing to buy car insurance direct means you do not use local agents and instead shop from a direct company like Progressive or Esurance. This option is good for consumers who do not need high amounts of coverage and have knowledge of what is covered and what is not.

So comparing independent agents, exclusive agents, and direct, which one works best for finding the cheapest auto insurance for unemployed drivers in Idaho? Most drivers assume that shopping direct results in the cheapest price since that eliminates agent commissions, but unfortunately, that is not the case. A good argument could also be made that using an independent agent is the best way because they can quote many companies, but that assumption is also not accurate. For some people, exclusive agencies have very competitive rates that independents and direct companies can’t touch.

Because there are so many factors that make up car insurance rates, the best method to ensure you are not overpaying is to do a thorough rate comparison. If time allows, get prices from all three types to have enough rates to compare. To see some of the cheapest online companies available, click here to view.