It’s hard to avoid all the captivating commercials from car insurance companies like GEICO and The General that make claims of dirt cheap rates, so drivers should just choose the one with the most memorable commercial, right?
Regrettably, it’s not quite that easy, as there are a ton of unknowns such as whether you are married or single, if you own or rent your home, your credit history, and the area where you live, that all factor into the price you pay. In this article, we will cover these factors and others that can influence the price of auto insurance and will hopefully give the reader a solid foundation to find cheaper car insurance in Cincinnati.
Trying to buy budget car insurance is tough enough, and deciding which companies have the cheapest car insurance rates for unemployed drivers will require even more work. Each auto insurer uses a slightly different approach to set policy rates, so we’ll go over the car insurance companies with the overall cheapest rates in Cincinnati, OH.
Best Auto Insurance Prices for Job Seekers
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$771|
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Utica National generally has some of the lowest car insurance rates in Cincinnati at around $647 each year. This is $393 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and USAA are also some of the lowest-priced Cincinnati, OH auto insurance companies.
In the above rates, if you currently have coverage with USAA and switched to Erie, you could earn an annual premium reduction of in the vicinity of $32. Ohio drivers with Travelers might save as much as $46 a year, and Merchants Insurance Group customers might lower prices by $84 a year.
Bear in mind that those policy rates are averaged across all types of insureds and vehicles and and are not figured with an exact vehicle garaging location for unemployed drivers. So the auto insurance company that can offer the best rates for your situation may not even be in the top 33 companies shown above. That affirms the importance of why you need to get rate quotes using your own personal information and vehicle type.
For the unemployed, one of the more important considerations that determine the annual cost of car insurance is where your car is garaged in Cincinnati. Areas with more people or even just a higher incidence of claims tend to have more expensive auto insurance rates, whereas less populated areas have the luxury of cheap car insurance rates.
The information below sorts the highest-priced places in Ohio for unemployed drivers to buy an auto insurance policy in. Cincinnati comes in at #6 with a yearly cost of $1,186 for the average policyholder, which is about $99 monthly.
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Premium amounts are estimated as vehicle location can raise or lower coverage rates substantially.
The vehicle that needs insurance is probably the most important factor that determines whether or not you find the cheapest car insurance for unemployed drivers. Vehicles with higher performance characteristics, poor safety ratings, or a history of substantial liability claims will cost significantly more to insure than more modest models.
The next list features insurance premiums for a selection of the cheapest automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$1,169|
|Hyundai Elantra SE Touring Station Wagon||$1,239|
|GMC Sierra SL Extended Cab 2WD||$1,353|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,373|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,380|
|Dodge Grand Caravan SXT||$1,385|
|Honda CR-V LX 2WD||$1,404|
|Honda Odyssey EX-L W/Navigation||$1,424|
|Ford Edge Limited AWD||$1,430|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,450|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,459|
|Chevrolet Malibu LTZ||$1,450|
|Ford F-350 XLT Crew Cab 2WD||$1,501|
|Honda Accord EX 2-Dr Coupe||$1,518|
|Nissan Rogue SL AWD||$1,525|
|Toyota Camry Hybrid||$1,545|
|Hyundai Sonata Limited 4-Dr Sedan||$1,554|
|Toyota Tacoma Double Cab 4WD||$1,550|
|Chevrolet Equinox LS 2WD||$1,559|
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Prices based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rates do not factor in vehicle garaging location which can decrease or increase coverage rates noticeably.
Based upon the table data, you can assume that vehicles like the Ford Escape, Hyundai Elantra, and GMC Sierra are most likely going to be a few of the cheaper vehicles to insure for the unemployed.
The illustration below shows how different deductible levels can influence insurance premiums when searching for cheap insurance for unemployed drivers. The rate quotes are based on a single male driver, full coverage, and no discounts are applied.
A 30-year-old driver could lower their policy premium by $210 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $318 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could possibly save as much as $612 or more just by using higher deductibles.
If you make the decision to raise deductibles, it will be necessary to have enough funds in savings to be able to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
How accidents and violations affect rates
The ideal way to get affordable car insurance rates in Cincinnati for the unemployed is to drive cautiously and not get tickets or have accidents. The diagram below shows how violations and accidents can impact auto insurance costs for different insured age categories. The prices are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.
In the example above, the average cost of a car insurance policy in Ohio per year with a clean driving record and no accidents is $929. Get two speeding tickets and the average cost jumps to $1,315, an increase of $387 each year. Then throw in one accident along with the two speeding tickets and the 12-month cost of car insurance for unemployed drivers jumps again to an average of $1,701. That’s an increase of $772, or $64 per month, just for not being more responsible behind the wheel!
Tips to find budget-friendly insurance for unemployed drivers
The list below summarizes some penny-pinching ideas that can help you locate low-cost coverage.
- Drive attentively and avoid accidents
- Drive safe vehicles
- Bundle home and auto and earn a discount
- Higher credit scores may earn you cheaper rates
- Do not pay for comprehensive and collision coverage on older vehicles
- Shop around for lower rates once a year
The last idea is extremely critical, as we stressed in the article above. Prices charged by car insurance companies in Cincinnati change a lot, so drivers shouldn’t be reluctant to buy a different policy if a better rate can be found.
Having a favorite company is fine, but it isn’t a good idea if your bullheadedness ends up costing you lots of money. In just a couple of minutes you could compare rates to find cheaper insurance for unemployed drivers.
If you aren’t clear which coverage you need and would like to have a professional recommendation when buying car insurance for unemployed drivers, the insurance agencies listed below can help you make a decision which coverages you need. To locate an agency near you, click the button at the bottom of the list.
Connor Smith – State Farm Insurance Agent
9620 Colerain Ave #25 – Cincinnati, OH 45251 – (513) 385-3385
Huesman Schmid Insurance Agency, Inc
5670 Cheviot Rd – Cincinnati, OH 45247 – (513) 521-8590
5879 Cheviot Rd – Cincinnati, OH 45247 – (513) 741-2100
GEICO Insurance Agent
4081 E Galbraith Rd #1b – Cincinnati, OH 45236 – (513) 794-3426
Meissner Insurance Agency
3710 Harrison Ave – Cincinnati, OH 45211 – (513) 661-4426