It’s impossible to miss the catchy advertisements from auto insurance companies like Liberty Mutual, Progressive, and Farmers that make claims of big savings, so drivers just need to pick the company with the cutest commercial, right?
It’s not that easy, however, as there are a whole bunch of unknown aspects such as whether you are single or married, if you have ever had a gap in coverage, and the level of liability coverage you want, that all impact the price you pay. This article will discuss the different scenarios that increase car insurance cost and will hopefully give you a good start to your coverage search.
For the unemployed, one of the more important components that aid in calculating the annual cost of car insurance is the neighborhood you call home in Colorado Springs. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas less populated areas tend to receive slightly lower rates.
The table below sorts the most expensive areas in Colorado for unemployed drivers in which to purchase auto insurance. Colorado Springs makes the list at #6 with a yearly cost of $1,329 for the average policyholder, which is about $111 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Denver | $1,425 |
| 3 | Aurora | $1,403 |
| 4 | Commerce City | $1,354 |
| 5 | Lakewood | $1,337 |
| 6 | Colorado Springs | $1,329 |
| 7 | Northglenn | $1,329 |
| 8 | Arvada | $1,308 |
| 9 | Security-Widefield | $1,304 |
| 10 | Ken Caryl | $1,287 |
| 11 | Thornton | $1,281 |
| 12 | Brighton | $1,273 |
| 13 | Highlands Ranch | $1,267 |
| 14 | Centennial | $1,265 |
| 15 | Parker | $1,257 |
| 16 | Littleton | $1,254 |
| 17 | Westminster | $1,234 |
| 18 | Castle Rock | $1,211 |
| 19 | Boulder | $1,207 |
| 20 | Longmont | $1,168 |
| 21 | Broomfield | $1,167 |
| 22 | Grand Junction | $1,154 |
| 23 | Greeley | $1,110 |
| 24 | Loveland | $1,107 |
| 25 | Fort Collins | $1,067 |
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Annual rates are approximated as the specific garaging location can impact auto insurance rates greatly.
The type of vehicle you are seeking coverage for is a large factor when shopping around for affordable auto insurance for unemployed drivers. Vehicles with limited top-end speed, an excellent safety record, or a track record of few liability claims will cost significantly less to insure than fast, unsafe models. The next table estimates car insurance costs for a number of the most budget-friendly vehicles to insure in Colorado.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,260 |
| Honda Accord LX-P 4-Dr Sedan | $1,348 |
| Toyota Prius | $1,365 |
| Honda CR-V EX 2WD | $1,393 |
| Ford Explorer Eddie Bauer 4WD | $1,485 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,505 |
| Toyota Corolla S | $1,538 |
| Kia Optima LX | $1,563 |
| Jeep Grand Cherokee Limited 4WD | $1,565 |
| Honda Odyssey EX W/Rear Entertainment | $1,572 |
| Chevrolet Impala LT | $1,598 |
| Chevrolet Equinox LT 2WD | $1,608 |
| Ford Edge SE AWD | $1,605 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,614 |
| Chevrolet Malibu Hybrid | $1,643 |
| GMC Sierra 2500HD SLT Extended Cab 4WD | $1,651 |
| Toyota RAV4 4WD | $1,643 |
| Chevrolet Silverado Crew Cab Hybrid 4WD | $1,670 |
| Toyota Camry Hybrid | $1,677 |
| Dodge Grand Caravan Crew | $1,678 |
| Ford F-150 SVT Raptor Super Cab 4WD | $1,683 |
| Ford Focus SES 4-Dr Sedan | $1,683 |
| Toyota Tacoma X-Runner 2WD | $1,685 |
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Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Table data does not factor in vehicle location which can increase or decrease premium rates noticeably.
Based on these rates, we can expect vehicles like the Ford Escape, Honda Accord, and Toyota Prius are going to be the cheaper vehicles to insure for the unemployed.
The example below demonstrates how deductible levels can influence insurance costs when researching cheap insurance for unemployed drivers. The premiums assume a single female driver, comp and collision included, and no additional discounts are factored in.
In the chart above, a 30-year-old driver could lower their policy premium by $432 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $648 by choosing a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could reduce their rates up to $966 each year just by choosing larger deductibles. If you make the decision to raise deductibles, it is important to have emergency funds available to satisfy the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Selecting the right auto insurance provider is hard considering how many choices there are in Colorado. The ranking information below could help you select which car insurance providers you want to consider when insurance shopping for unemployed drivers.
These rankings only include the largest auto insurers in America, so companies that only write business in Colorado or surrounding areas are not included in the list. To check rates from the insurers below and more, click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
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Data Source: Insure.com Best Car Insurance Companies
The Colorado Springs auto insurance agencies shown below can help you decide which auto insurance policy fits you best, since some drivers wish to get some professional advice when buying car insurance for unemployed drivers. It can be challenging to find coverage yourself, so getting advice from a licensed Colorado insurance agent can provide satisfaction knowing you have adequate protection in the event of a claim.
To locate a Colorado Springs car insurance agency in your neighborhood, click the link at the bottom.
Carlos Gonzalez, Jr. – State Farm Insurance Agent
1710 S Circle Dr – Colorado Springs, CO 80910 – (719) 900-7431
Insurance Network of Co
2525 W Pikes Peak Ave # C – Colorado Springs, CO 80904 – (719) 635-9720
Bob Hawkins – State Farm Insurance Agent
5490 Powers Center Point #132 – Colorado Springs, CO 80920 – (719) 418-3377
More Colorado Springs, CO insurance agents
How to find economical auto insurance for unemployed drivers
The list below details some of the better thrifty ideas that can help Colorado Springs drivers get low-cost coverage.
- Drive safe vehicles
- Improve your credit
- Buying home and auto together can help save money
- Drive attentively and avoid accidents
- Remove physical damage coverage on older vehicles
- Compare rate quotes often
The last item on the list is remarkably valuable, as was emphasized in the prior article. Rates can be adjusted at any time, so don’t hesitate to buy from a new company if a better deal can be had.
Many consumers stick with the same company and that’s fine, but it’s not a great idea if your bullheadedness ends up costing you lots of money. It only take a few minutes to compare prices and find cheaper car insurance for unemployed drivers in Colorado Springs.