You have surely seen all the captivating commercials from auto insurance companies like Progressive, Allstate, and Farmers that guarantee big savings, so you just need to choose any of them, right?
It’s not quite that easy, unfortunately, as there are many unknown factors like if you are a homeowner or renter, if you have a lapse in coverage, your annual mileage driven, and how well you maintain your credit, that all influence how much you pay for auto insurance. The information below covers the things that cause high insurance rates and also should give you a good start in finding the cheapest car insurance in California.
The type of vehicle to be insured is one of the largest factors when comparison shopping for low-priced coverage for unemployed drivers. Vehicles with economical engines, good safety features, or a low likelihood of liability claims will cost less to insure than fast, unsafe models. The next list illustrates auto insurance rates for a selection of the more affordable automobiles to insure in California.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$1,112|
|Ford Escape XLS 4WD||$1,122|
|Honda CR-V EX-L 4WD||$1,138|
|Ford Edge SE 2WD||$1,219|
|Toyota RAV4 Limited 4WD||$1,314|
|Ford F-150 STX Regular Cab 2WD||$1,333|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,340|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,409|
|Toyota Tacoma 4WD||$1,414|
|Dodge Grand Caravan CV||$1,419|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,433|
|Chevrolet Impala LT||$1,440|
|Nissan Altima 2.5 4-Dr Sedan||$1,447|
|Ford Focus S 4-Dr Sedan||$1,449|
|Ford Explorer Limited AWD||$1,468|
|Hyundai Elantra Blue 4-Dr Sedan||$1,490|
|Chevrolet Silverado LTZ Extended Cab 2WD||$1,506|
|Honda Civic VP 4-Dr Sedan||$1,518|
|Dodge Ram Crew Cab TRX 4WD||$1,530|
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Information does not factor in your specific Riverside, CA location which can impact premiums greatly.
Looking at the rates, models like the Honda Accord, Ford Escape, and Honda CR-V are most likely going to be the most affordable vehicles to insure for the unemployed.
For the unemployed, one of the big criteria that aid in calculating insurance cost is the neighborhood you call home in Riverside. Areas with high crime rates or more dense population are more likely to pay higher prices, whereas less populated areas receive better rates.
The illustration below lists the most expensive places in California for unemployed drivers to purchase car insurance in. Riverside shows up at #11 costing $1,542 for the average policy, which is approximately $129 each month.
|Rank||City||Average Per Year|
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Prices are approximated as zip code location can decrease or increase premiums greatly.
Get discount Riverside insurance rates
Car insurance companies that offer cheap quotes for unemployed drivers may also provide premium discounts that can reduce rates by 40% or more if you qualify for them. A list of companies and their possible discounts can be found below.
- Progressive may have discounts that include multi-vehicle, online quote discount, homeowner, online signing, continuous coverage, multi-policy, and good student.
- Farmers Insurance offers premium reductions for teen driver, electronic funds transfer, switch companies, early shopping, and good student.
- Farm Bureau offers discounts for multi-vehicle, renewal discount, multi-policy, youthful driver, 55 and retired, driver training, and good student.
- State Farm includes discounts for anti-theft, multiple policy, multiple autos, defensive driving training, Drive Safe & Save, and passive restraint.
- GEICO may include discounts for driver training, emergency military deployment, multi-policy, military active duty, and seat belt use.
- SAFECO discounts include multi-car, homeowner, teen safe driver, drive less, anti-theft, and teen safety rewards.
- Liberty Mutual offers discounts including teen driver discount, new graduate, hybrid vehicle, multi-car, good student, and new vehicle discount.
The example below visualizes the comparison of insurance prices with and without discounts applied to the policy premium. The data is based on a male driver, no driving violations, no at-fault accidents, California state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with accident-free, safe-driver, homeowner, multiple policy, passive restraint, and vehicle safety discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for unemployed drivers is 28% or $576.
Poor driving habits will raise your insurance rates
The obvious way to enjoy affordable insurance premiums for the unemployed is to be a good driver and not have accidents or get tickets. The diagram below illustrates how speeding tickets and at-fault collisions drive up auto insurance costs for different age groups. Data assumes a single female driver, full coverage, $100 deductibles, and no other discounts are factored in.
In the previous example, the average cost of a car insurance policy in California per year with no accidents and a clean driving record is $2,394. Get written up for two speeding tickets and the average cost jumps to $3,222, an increase of $828 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for unemployed drivers goes up to an average of $6,160. That’s an increase of $3,766, or $314 per month, just for not being a responsible driver!
Why you should be shopping around
Riverside insurance rates are determined by lots of factors that can increase the price you have to pay for coverage. Simply having a birthday, filing a claim, or getting a speeding ticket can trigger rate changes that may make certain companies more affordable than the competition.
Not only may your risk profile change, but insurance companies change prices at least once a year to adjust for heavy claims or excess profits. Higher than normal claims may result in higher priced premiums, while profitable underwriting can cause cheaper Riverside car insurance rates.
To help illustrate this point, the bar chart below shows the cheapest car insurance in Riverside, CA for a 40-year-old female driver with no prior accidents, a clean driving record, and great credit. If we look at prices based on her current risk profile, USAA might offer the best car insurance rates in Riverside at $1,372 a year. This is $279 less than the average policy premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are also included in the most affordable Riverside, CA auto insurance companies.
Let’s now give the driver in the first example an accident claim, a lower credit score, and a few traffic violations. Because each company has a unique formula for filing rates in each state, comparing rates may now result in a different ranking of cheap Riverside auto insurance companies as shown below.
Grange now has the lowest car insurance rate in Riverside, CA with Mercury, Allstate, GEICO, and Progressive also having competitive pricing. This example illustrates why consumers need to shop around to find the lowest auto insurance rates for unemployed drivers. Prices are impacted by many factors and can change substantially, so the best option when you bought your policy may now be costing you a lot of money.