The words “low-priced” and “auto insurance” probably shouldn’t be used together, in particular when comparison shopping for the cheapest coverage for unemployed drivers. To save some money, let’s get started by showing you a few of the things that significantly impact car insurance prices, and find a few ways to slash the price of your next policy.
Deciding which companies have the most affordable auto insurance rates for unemployed drivers will take a bit more work in order to find coverage that fits your budget. Each company uses their own method to establish rates, so let’s examine the most budget-friendly auto insurance companies in Greensboro.
It’s important that you understand North Carolina auto insurance rates are determined by lots of factors which can significantly increase or decrease the policy price. Simply getting older, increasing deductibles, or getting a ticket for running a stop sign may prompt premium changes resulting in some companies being cheaper in comparison to the competition.
Find the Cheapest Auto Insurance for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $643 |
| 3 | Liberty Mutual | $700 |
| 4 | NC Farm Bureau | $730 |
| 5 | Penn National | $739 |
| 6 | State Farm | $749 |
| 7 | GEICO | $750 |
| 8 | Titan | $759 |
| 9 | Auto-Owners | $844 |
| 10 | National General | $881 |
| 11 | Allied | $892 |
| 12 | Erie | $895 |
| 13 | Travelers | $927 |
| 14 | Peerless | $972 |
| 15 | Unitrin | $1,002 |
| 16 | Nationwide | $1,041 |
| 17 | Encompass | $1,041 |
| 18 | MetLife | $1,049 |
| 19 | Allstate | $1,054 |
| 20 | Safeco | $1,066 |
| Find Your Rate Go | ||
Progressive offers some of the best car insurance rates in Greensboro at around $639 annually. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also make the cut as some of the lowest-priced Greensboro, NC auto insurance companies.
As shown above, if you are a customer of NC Farm Bureau and switched to Utica National, you may see an annual savings of in the neighborhood of $87. Insureds with Penn National might save as much as $96 a year, and State Farm customers might see rate reductions of $106 a year.
If you want to find out if you’re overpaying, click here to begin a quote or visit any of the companies below.
These premium estimates are averages for all ages of drivers and types of vehicles and do not factor in an exact location for unemployed drivers. So the insurer that has the cheapest price for you may not even be in the list above. That is why you need to compare rates from as many companies as possible using your own driver data and vehicle information.
For the unemployed, one of the largest components that aid in calculating the amount you pay for auto insurance is where you normally keep your vehicle in Greensboro. Cities with larger populations or higher claim trends tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive cheaper rates.
The following table shows the highest-priced places in North Carolina for unemployed drivers to purchase car insurance in. Greensboro is ranked #5 with a yearly cost of $786 for car insurance, which is approximately $66 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $808 |
| 4 | Gastonia | $787 |
| 5 | Greensboro | $786 |
| 6 | Wilmington | $781 |
| 7 | Cary | $765 |
| 8 | Durham | $765 |
| 9 | Indian Trail | $753 |
| 10 | High Point | $745 |
| 11 | Huntersville | $742 |
| 12 | Apex | $739 |
| 13 | Greenville | $738 |
| 14 | Raleigh | $737 |
| 15 | Goldsboro | $735 |
| 16 | Wilson | $732 |
| 17 | Rocky Mount | $726 |
| 18 | Winston Salem | $716 |
| 19 | Salisbury | $712 |
| 20 | Hickory | $711 |
| Find the Best Rates Go | ||
Rates are estimated as zip code location can lower or raise coverage rates substantially.
Accidents and violations increase rates
The recommended way to receive cheap auto insurance premiums in Greensboro for the unemployed is to pay attention while driving and avoid tickets and accidents. The information below demonstrates how traffic citations and accident claims can impact insurance costs for each different age group. The premiums assume a married female driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of car insurance in Greensboro per year with no accidents or violations is $1,474. Receive one speeding ticket and the average cost hikes up to $1,716, an increase of $242 each year. Then include one accident along with the one speeding ticket and the 12-month cost of auto insurance for unemployed drivers goes up to an average of $2,409. That’s an increase of $936, or $78 per month, just for being a little careless behind the wheel!
How to get discounts on Greensboro car insurance rates
Insurers that offer coverage for unemployed drivers may also offer special discounts that can lower rates by 35% or more if you are eligible for them. A few of the larger companies and a partial list of their discounts are included below.
- State Farm may have discounts that include Drive Safe & Save, multiple autos, safe vehicle, anti-theft, good driver, driver’s education, and defensive driving training.
- Liberty Mutual includes discounts for newly retired, hybrid vehicle, new graduate, multi-policy, and newly married.
- American Family offers discounts including defensive driver, good driver, early bird, TimeAway discount, air bags, and good student.
- Progressive discounts include continuous coverage, online signing, good student, multi-policy, and online quote discount.
- Farmers Insurance offers premium reductions for alternative fuel, electronic funds transfer, pay in full, youthful driver, good student, and teen driver.
- Auto-Owners Insurance may offer discounts for group or association, student away at school, good student, teen driver, and company car.
- SAFECO has savings for safe driver, teen safety rewards, drive less, accident prevention training, and bundle discounts.
The diagram below illustrates the difference between auto insurance costs with and without discounts applied to the premium. The rates are based on a male driver, no violations or claims, North Carolina state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with vehicle safety, safe-driver, claim-free, defensive driving course, multiple policy, and accident-free discounts applied. With discounts applied, theamount saved on auto insurance for unemployed drivers is 28% or $396.
The example below highlights how deductible selection can affect insurance prices when trying to find cheap insurance for unemployed drivers. Data assumes a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
A 50-year-old driver could lower their policy premium by $240 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $366 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could potentially save $808 annually just by using higher deductibles.
When insureds make the decision to increase the deductibles on their policy, it will be necessary to have additional savings on hand to enable you to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
How to find the cheapest insurance for unemployed drivers
The list below details some penny-pinching suggestions that can help drivers buy low-cost coverage.
- Do not get tickets or violations
- Buy a car with high safety ratings
- Prevent rate increases by staying accident-free
- Try to remain claim-free
- Higher credit scores can equal lower rates
- Compare rates regularly to ensure the best deal
The last suggestion is notably crucial, as was discussed in the prior article. Rates change constantly, so drivers shouldn’t hesitate to buy from a different company if a cheaper price is available.
Being loyal to a particular company is commendable, but we do not recommend it if that devotion results in you overpaying potentially thousands of dollars a year. It only takes a couple minutes to shop around and find cheaper insurance for unemployed drivers in Greensboro.