Who Has Cheap Car Insurance Quotes for Unemployed Drivers in Iowa?

Trying to buy low-priced auto insurance is hard enough, and finding out which companies offer the lowest-priced auto insurance rates for unemployed drivers will involve additional perseverance. Each auto insurance company has a proprietary method to establish rates, so first let’s look at the rankings for the auto insurance companies with the overall cheapest rates in Iowa.

It’s important to know that Iowa auto insurance rates are influenced by many factors that control the price of your policy. Simply turning a year older, buying a new vehicle, or getting a couple of tickets can trigger rate changes that can make some companies higher-priced than before.

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USAA offers some of the most affordable car insurance rates in Iowa at around $662 a year. Partners Mutual, Allied, Western National, and Hastings Mutual are also some of the cheaper Iowa insurance companies.

As shown in the table above, if you are a policyholder with Allied and switched to USAA, you could earn a yearly price reduction of about $125. Iowa drivers with Western National might save as much as $139 a year, and Hastings Mutual insureds might reduce rates by $236 a year.

To get a fast rate comparison, click here to get quotes or quote rates from the companies below.

Understand that those policy rates are averaged for all types of drivers and the different vehicles they drive and do not take into consideration a rate decrease for unemployed drivers. So the company that can offer you the lowest price may not even be in the chart above. That’s why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.

The make and model of vehicle that needs insurance is a significant factor that determines whether or not you can buy cheap coverage for unemployed drivers. Vehicles with reasonable performance levels, excellent safety ratings, or a positive history of liability claims will cost much less to insure than high performance models. The next lists shows auto insurance rates for a selection of the most cost-effective vehicles to insure in Iowa.

Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Iowa minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Rate quotes do not factor in specific zip code location which can impact rates substantially.

Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Iowa minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Information does not factor in vehicle location which can change insurance rates significantly.

Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Iowa minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Prices do not factor in vehicle location which can affect rates significantly.

The information below highlights how deductible choice can increase or decrease premium costs when getting quotes for cheap insurance for unemployed drivers. The premium estimates are based on a single female driver, full coverage, and no additional discounts are factored in.

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In the chart above, a 30-year-old driver could lower their car insurance rates by $226 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $340 by using a $1,000 deductible. Younger drivers, such as the Age 20 example, could reduce their rates up to $502 or even more just by choosing higher deductibles.

When using a larger deductible, it will be important to have plenty of money set aside to be able to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.

Difference between liability only and full coverage rates

Finding cheap car insurance for unemployed drivers in Iowa should be important to most people, and an easy way to buy cheap insurance is to not buy comprehensive and collision coverage. The illustration below compares insurance costs when comparing full coverage to liability only. Data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 2391,1005],[‘Age 30’, 1249,555],[‘Age 40’, 1219,513],[‘Age 50’, 1117,481],[‘Age 60’, 1085,473],[‘Age 70’, 1355,631]]);var options = {title: ‘Full Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Iowa’,minValue: 0,format: ‘$###,###’},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 averaged out across all ages, full coverage on your policy costs $1,403 per year more than just buying liability insurance. At some point, almost every driver questions when is it safe to stop buying full coverage. There is no clear-cut formula that works best for making the decision to drop physical damage coverage, but there is a general convention. If the annual cost of having full coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.

For example, let’s assume your vehicle’s replacement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $8,000 after paying your policy deductible. If you are paying in excess of $800 annually to have full coverage, then you may want to consider only buying liability coverage.

Geico, Progressive, State Farm, and Allstate: Who is best?

If you want the best auto insurance for the unemployed, four companies to take a look at are Geico, Progressive, State Farm, and Allstate. Between them, they insure over 48% of all policies written in the United States. All of them offer physical damage and liability coverage, but each has different features and discounts that shoppers can choose from. The table below rates some of the different features shoppers can find with each company.