Who Has the Cheapest Cincinnati Auto Insurance for Unemployed Drivers?

The vehicle model requiring insurance is one of the largest considerations when consumers are trying to find economical car insurance for unemployed drivers. Vehicles with higher performance, a lack of advanced safety features, or high incidents of liability claims will cost quite a bit more to insure than more modest models. The next table presents auto insurance costs for a handful of the most cost-effective automobiles to buy insurance for.

Cheapest Vehicles to Insure in Cincinnati, OH
Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 4WD $1,196
Toyota Prius $1,297
Toyota Tacoma 4WD $1,312
Chevrolet Malibu LS $1,386
Chevrolet Equinox LS AWD $1,392
Ford Escape XLS 2WD $1,440
Ford F-150 XLT Regular Cab 2WD $1,477
Nissan Rogue S 2WD $1,486
Ford Explorer XLT AWD $1,506
Chevrolet Silverado 3500HD LT Crew Cab 2WD $1,511
Dodge Ram 3500 Crew Cab ST 2WD $1,538
Ford Focus SE 2-Dr Coupe $1,558
Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD $1,585
Toyota RAV4 2WD $1,590
Dodge Grand Caravan SE $1,609
Honda Civic EX 4-Dr Sedan $1,644
Ford Edge SE AWD $1,666
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Prices above 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 safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in zip code location which can lower or raise price quotes noticeably.

Looking at the rates, you can conclude that cars like the Honda CR-V, Toyota Prius, Toyota Tacoma, and Chevrolet Malibu are most likely going to be the cheapest vehicles to insure for the unemployed.

Determining which companies have the best insurance rates for unemployed drivers will take more work than just comparing rates from one or two companies. Each auto insurer uses their own method for establishing rates, so let’s take a look at the most competitive insurance companies in Ohio.

Lowest Insurance Price Quotes for Job Seekers

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Who has the cheapest car insurance in Ohio?
Rank Company Cost Per Year
1 Utica National $647
2 Erie $661
3 Allied $669
4 Frankenmuth $708
5 Travelers $726
6 USAA $741
7 Merchants Insurance Group $755
8 Cincinnati Insurance $756
9 Motorists Mutual $800
10 Grange Mutual $836
11 General Casualty $837
12 Central Mutual $840
13 Hastings Mutual $866
14 State Farm $867
15 Atlantic States $940
16 Westfield $946
17 Progressive $953
18 Auto-Owners $958
19 Western Reserve $970
20 Nationwide $988
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Utica National quotes some of the best car insurance rates in Cincinnati at around $647 a year. This is $393 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also qualify as some of the lowest-priced Cincinnati, OH insurance companies.

As shown above, if you are currently insured with Frankenmuth and switched to Utica National, you might see a yearly price reduction of about $61. Policyholders with Travelers might save as much as $79 a year, and USAA insureds might reduce prices by as much as $94 a year.

If you would like to find cheaper car insurance rates, click here to start your free quote or quote rates from the companies below.

Remember that these policy rates are averaged across all types of insureds and vehicles and do not factor in an exact vehicle garaging location for unemployed drivers. So the company that is most affordable for your situation may not even be in the top 33 companies in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.

Irresponsible driving raises your rates

In a perfect world, the ideal way to enjoy good insurance premiums in Cincinnati for the unemployed is to be an attentive driver and avoid accidents and traffic violations. The illustration below demonstrates how citations and accidents raise premium costs for different age categories. Data assumes a married male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

The data in the chart shows the average cost of car insurance per year with no violations or accidents is $1,390. Add in one speeding ticket and the average cost jumps to $1,596, an increase of $206 each year. Now include two accidents along with the one speeding ticket and the 12-month cost of insurance for unemployed drivers jumps again to an average of $3,363. That’s an increase of $1,973, or $164 per month, just for a couple of infractions!

Cost comparison with and without full coverage

Buying cheaper insurance should be important to most people, and one common way to buy cheaper insurance for unemployed drivers is to buy liability only. The information below shows the comparison of annual premium costs with full physical damage coverage and with liability coverage only. The rates are based on no violations or accidents, $500 deductibles, single status, and no other discounts are factored in.

On average, physical damage coverage on your policy costs an extra $1,436 per year more than just buying liability insurance. That proposes the question when is it a good idea to stop buying full coverage. There isn’t a steadfast formula for dropping full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let’s say your vehicle’s claim settlement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $4,000 after paying your deductible. If premiums are more than $400 annually for your policy with full coverage, then it may be the right time to buy liability only.

Compare rates to save

Ohio insurance rates are calculated based on many things that can increase the price you pay. Simply having a birthday, moving across town, or getting a driving violation can trigger changes in premium that can cause some rates to be more affordable than others.

Not only may your situation change, but car insurance companies amend pricing at least once a year in order to protect their financial rating. An unexpected high level of claims may cause high rates, while lower claim expenses can produce more affordable Cincinnati car insurance rates.

The graph below demonstrates which company has the cheapest car insurance in Cincinnati, OH for a 45-year-old female driver with no accidents or violations, and solid credit. Based on her current risk factors, Utica National has the most affordable car insurance rates in Cincinnati at $780 annually. This is $260 less than the average price paid by Ohio drivers of $1,040. Erie, Frankenmuth, Allied, and USAA also make the list of the top five cheapest Cincinnati, OH auto insurance companies.

The example below compares rates after we give the driver from the first rate comparison an accident claim, a lower credit rating, and a traffic citation. Because each insurer has their own guidelines for determining rates, comparing rates could now result in a different ranking of companies as shown below.

Cincinnati Insurance now has the cheapest auto insurance in Cincinnati with Merchants Insurance Group, Grange Mutual, Motorists Mutual, and General Casualty now rounding out the top five. This illustrates why consumers need to take the time to perform an extensive rate comparison to find the lowest car insurance quotes for unemployed drivers.

Auto insurance prices are calculated by many factors and can increase or decrease at any time, so the best company when you last compared rates may now be one of the higher cost companies.