Cheapest Car Insurance Quotes for Unemployed Drivers in Kentucky

The words “cheap” and “auto insurance” probably shouldn’t be used together, specifically when searching for the best car insurance for unemployed drivers. Because it’s not cheap, let’s lead off by showing you some things that determine car insurance premiums, and find out if we can help you cut the cost of your next policy.

For the unemployed, one of the largest components that auto insurance companies take into consideration when calculating rate quotes is the neighborhood you call home in Kentucky. Cities with larger populations or higher claims like Louisville, Ashland, and Radcliff tend to pay more, whereas areas with less congestion generally benefit from lower auto insurance rates.

The illustration below lists the highest-priced areas in Kentucky for unemployed drivers to purchase car insurance in.

Rates are comparative as the specific garaging location can alter coverage rates substantially.

The vehicle model needing coverage is one of the largest factors that determines the availablility of affordable coverage for unemployed drivers. Vehicles with lots of speed or power, a lack of safety features, or an increased likelihood of liability claims will cost much more to insure than more modest models.

The next table showcases car insurance premiums for a selection of the cheaper vehicles to insure.

Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Estimates do not factor in garaging location in Kentucky which can impact premiums substantially.

Based on these rates, we can assume that cars like the Ford Escape, Hyundai Elantra, Honda Accord, and Toyota Tacoma are likely to be the most affordable vehicles to insure for the unemployed.

Finding out which company quotes the cheapest auto insurance rates for unemployed drivers may require a little more effort in order to find the lowest price. Each company uses a little different formula for setting prices, so we’ll take a look at the most competitive auto insurance companies in Kentucky.

It’s important that readers know that Kentucky auto insurance rates are based on many factors which can substantially decrease or increase your annual premium. Simply improving your credit, filing a claim, or getting a ticket for careless driving can trigger rate changes that can make some companies cheaper than competitors.

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Cincinnati Insurance offers some of the cheapest car insurance rates in Kentucky at around $1,126 each year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also rank well as some of the more affordable Kentucky auto insurance companies.

In the above rates, if you are insured with Auto-Owners and switched to Kentucky Farm Bureau, you could realize yearly savings of upwards of $197. Customers with Motorists Mutual may save as much as $379 a year, and Grange Mutual policyholders might reduce rates by $435 a year.

Be aware that those prices are averaged for all drivers and vehicles in Kentucky and do not factor in a price decrease for unemployed drivers. So the company that has the lowest price for you may not even be shown in the list of companies above. That points out the importance of why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.

Discounts on the cheapest auto insurance for unemployed drivers in Kentucky

Insurance companies that offer quotes for unemployed drivers may also provide rate discounts that could potentially reduce rates by as much as 35% if you are eligible for them. Large auto insurance companies and some of the premium reductions they offer are shown below.

The information below compares insurance rates with and without discounts applied to the policy rates. The prices are based on a female driver, no accidents, no driving violations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with claim-free, safe-driver, accident-free, anti-theft, multiple vehicle, and homeowner discounts applied. When drivers take advantage of discounts, the the average yearly reduction on auto insurance for unemployed drivers is 38% or $501.