The words “affordable” and “insurance” really shouldn’t be used together, specifically when shopping around for the cheapest auto insurance for unemployed drivers. To help control this cost, let’s lead off by showing you a few of the things that determine auto insurance prices, and come up with some ideas to take the bite out of the next policy you buy.
Finding reliable, budget insurance is challenging, and deciding which company has the best auto insurance rates for unemployed drivers calls for even more diligence. Each auto insurance company has a different process to set policy rates, so let’s begin by examining the auto insurance companies that tend to be cheaper in Atlanta, GA.
It’s important to understand that Atlanta auto insurance rates are calculated based on many things which can substantially change the cost of having a policy. Price variation is why it is important to do a thorough rate comparison when trying to get the most economical insurance rates for unemployed drivers. Rates consist of many risk factors and change dramatically, so the most affordable company when you last compared rates may now cost much more than other companies.
Find the Best Cheap Insurance for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Auto-Owners | $855 |
| 2 | The Hartford | $886 |
| 3 | USAA | $978 |
| 4 | Central Mutual | $1,157 |
| 5 | MetLife | $1,276 |
| 6 | Georgia Farm Bureau | $1,299 |
| 7 | Travelers | $1,331 |
| 8 | Safeco | $1,355 |
| 9 | Country | $1,377 |
| 10 | Mercury | $1,411 |
| 11 | State Farm | $1,432 |
| 12 | Allied | $1,452 |
| 13 | California Casualty | $1,561 |
| 14 | Encompass | $1,639 |
| 15 | Progressive | $1,721 |
| 16 | Nationwide | $1,827 |
| 17 | Liberty Mutual | $2,004 |
| 18 | GEICO | $2,165 |
| 19 | Allstate | $2,180 |
| 20 | Victoria | $2,585 |
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Auto-Owners normally has some of the lowest car insurance rates in Atlanta at around $855 per year. The Hartford, USAA, Central Mutual, and MetLife also make the cut as some of the cheapest Atlanta, GA auto insurance companies.
As shown in the table above, if you are a customer of Central Mutual and switched to Auto-Owners, you might achieve a yearly savings of about $302. Policyholders with MetLife may save as much as $421 a year, and Georgia Farm Bureau customers might lower prices by $444 a year.
These premium estimates are averages across all types of insureds and vehicles and are not factoring in an exact vehicle garaging location for unemployed drivers. So the auto insurance company that has the cheapest price for you may not even be in the list above. That point stresses why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.
One of the many components that help determine car insurance rates is where you keep your car in Atlanta. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with less people or fewer weather incidents benefit from lower coverage costs.
The following table rates the priciest cities in Georgia for unemployed drivers to purchase a policy in. Atlanta is listed at #2 having an annual price of $1,405 for the average insurance policy, which is approximately $117 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | East Point | $1,480 |
| 2 | Atlanta | $1,405 |
| 3 | North Atlanta | $1,349 |
| 4 | Dunwoody | $1,281 |
| 5 | Marietta | $1,279 |
| 6 | Alpharetta | $1,272 |
| 7 | Columbus | $1,256 |
| 8 | Mableton | $1,254 |
| 9 | Macon | $1,253 |
| 10 | Smyrna | $1,242 |
| 11 | Sandy Springs | $1,242 |
| 12 | Roswell | $1,222 |
| 13 | Rome | $1,218 |
| 14 | Savannah | $1,191 |
| 15 | Augusta | $1,185 |
| 16 | Gainesville | $1,184 |
| 17 | Peachtree City | $1,168 |
| 18 | Albany | $1,154 |
| 19 | Warner Robins | $1,149 |
| 20 | Martinez | $1,130 |
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Prices are estimated as the vehicle garaging location can lower or raise premium rates considerably.
The vehicle model that is being insured is one of the biggest factors that determines the availability of affordable auto insurance for unemployed drivers. Vehicles with higher performance characteristics, poor safety features, or a track record of large liability claims will cost substantially more to insure than more modest models.
The information below shows coverage premiums for a selection of the more affordable automobiles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $1,505 |
| Ford Escape XLT 4WD | $1,539 |
| Toyota RAV4 Limited 4WD | $1,560 |
| Chevrolet Equinox LT AWD | $1,566 |
| Dodge Grand Caravan Crew | $1,591 |
| Honda Accord EX-L 4-Dr Sedan | $1,632 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,672 |
| Toyota Corolla XRS | $1,680 |
| Toyota Camry Hybrid | $1,781 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,788 |
| Chevrolet Impala LT | $1,786 |
| Ford Fusion S 4-Dr Sedan | $1,795 |
| Toyota Prius | $1,794 |
| Dodge Ram 2500 Crew Cab ST 4WD | $1,810 |
| Ford Focus SE 4-Dr Sedan | $1,869 |
| Compare Cheap Rates Go | |
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Premium amounts do not factor in vehicle location which can decrease or increase premiums greatly.
Looking at the data, you can figure that models like the Honda CR-V, Ford Escape, and Toyota RAV4 are most likely to be a few of the more affordable vehicles to insure for the unemployed.
Discounts on Atlanta auto insurance rates
Insurance providers that sell policies for unemployed drivers may also give you special discounts that can lower rates by as much as 35% if you are eligible for them. Large auto insurance companies and their offered discounts can be found below.
- GEICO has discounts for driver training, emergency military deployment, five-year accident-free, military active duty, and good student.
- Travelers offers premium reductions for multi-policy, new car, early quote, save driver, and IntelliDrive.
- Nationwide may have discounts that include Farm Bureau membership, family plan, multi-policy, anti-theft, and good student.
- Farmers Insurance has savings for switch companies, mature driver, distant student, good student, alternative fuel, and electronic funds transfer.
- Esurance offers discounts including Pac-12 alumni, defensive driver, good student, anti-lock brakes, and DriveSense.
- State Farm discounts include driver’s education, multiple policy, student away at school, good student, and passive restraint.
- Progressive may include discounts for multi-vehicle, multi-policy, continuous coverage, homeowner, and online quote discount.
- Mercury Insurance policyholders can earn discounts including good driver, professional/association, type of vehicle, multi-car, ease of repair, and age of vehicle.
The diagram below shows the difference between premium costs with and without discounts applied to the policy rates. The data assumes a male driver, no accidents, no driving violations, Georgia state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with accident-free, passive restraint, vehicle safety, anti-theft, safe-driver, and defensive driving course discounts applied. When discounts are applied, theaverage amount saved on auto insurance for unemployed drivers is 28% or $618.
Cost comparison with and without full coverage
Paying less for auto insurance is probably important to most drivers, and one of the best ways to pay lower rates for insurance for unemployed drivers is to only buy liability coverage. The information below illustrates the comparison of premium costs with full coverage and liability only. The costs are based on no violations or accidents, $500 deductibles, marital status is single, and no discounts are applied to the premium.
On average, physical damage coverage costs an additional $1,852 per year more than just insuring for liability. Many of you may wonder if buying full coverage is a waste of money. There is no set rule for eliminating physical damage insurance, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then you might want to think about dropping full coverage.
There are some situations where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.
The information below illustrates how your choice of deductibles can influence insurance rates when trying to find cheap insurance for unemployed drivers. The information is based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The data above shows that a 40-year-old driver could reduce rates by $386 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $582 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old category, could shave up to $1,276 each year by using higher deductibles when buying full coverage. When raising deductibles, it is a good idea to have emergency funds available to cover the extra out-of-pocket expense that is associated with using high deductibles.