This article would sure be shorter if we could simply give you the name of the single best company that has the cheapest coverage for unemployed drivers in Colorado. It's not quite that easy, unfortunately, as there are a lot of unknowns like if you want full coverage included, when you were born, where you live, and the safety features built into your vehicle, that help determine the price you have to pay. The content below covers the best ways to avoid high prices and will give you a good start in finding the cheapest insurance for job seekers.
For the unemployed, one of the largest components that determine car insurance rates is where you choose to live in Colorado. More densly populated places like Pueblo, Lakewood, and Commerce City will most likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The table below rates the most expensive places in Colorado for unemployed drivers in which to buy car insurance.
|Rank||City||Average Per Year|
|Find Cheaper Insurance Go|
Rate quotes are comparative as the specific area where the vehicle is garaged can revise coverage rates significantly.
Finding out which company offers the cheapest insurance rates for unemployed drivers in Colorado may require more work in order to find the lowest price.
Each insurance company has a proprietary method to determine rates, so let's look at the rankings for the insurance companies that tend to have lower prices in Colorado. Keep in mind that Colorado insurance rates are influenced by many factors that may substantially change the price you pay for coverage. Getting older, filing a claim, or getting into an accident can trigger price changes resulting in some rates now being more affordable than the competition.
Lowest Insurance Price Quotes for Job Seekers
The Hartford may offer some of the lowest car insurance rates in Colorado at around $859 each year. This is $719 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide would also make the list of some of the cheapest Colorado car insurance companies.
As the example above demonstrates, if you currently have a policy with GEICO and switched to The Hartford, you may realize yearly savings of upwards of $282. Drivers with Nationwide could save as much as $284 a year, and Auto-Owners policyholders might reduce prices by as much as $345 a year.
To discover how much you can save, click here to start your free quote or click through to the companies below.
Understand that those prices are averaged for all ages of drivers and types of vehicles and and are not calculated with a rate discount for unemployed drivers. So the auto insurance company that is best suited for you may not even be in the top 21 companies in the list above. That underscores the importance of why you need to compare as many prices as possible using your own individual information.
The vehicle on the policy is one of the main factors that determines whether or not you can buy economical insurance for unemployed drivers. Vehicles with higher performance, a lack of modern safety features, or a high likelihood of having liability claims will cost significantly more to insure than more economical and safe models. The list below presents coverage costs for the cheapest automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$954|
|Toyota Tacoma 2WD||$1,009|
|Toyota RAV4 Limited 4WD||$1,028|
|Ford Escape Limited 4WD||$1,036|
|Honda Accord EX-L 4-Dr Sedan||$1,066|
|Hyundai Elantra SE 4-Dr Sedan||$1,085|
|Toyota Corolla S||$1,094|
|Ford Edge Sport 2WD||$1,085|
|Honda Odyssey EX-L W/Rear Entertainment||$1,091|
|Chevrolet Silverado LT Crew Cab 4WD||$1,104|
|Ford Focus SE 4-Dr Sedan||$1,108|
|Chevrolet Impala LT||$1,129|
|Find Cheaper Rates Go|
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Premium amounts do not factor in zip code location which can impact price quotes substantially.
Looking at the rates, makes and models like the Honda CR-V, Toyota Prius, Toyota Tacoma, Toyota RAV4, and Ford Escape are likely to be the less-costly vehicles to insure for the unemployed.
Choosing the highest-rated insurance company can be rather challenging considering how many different companies there are to choose from in Colorado. The rank data shown next could help you select which auto insurance companies you want to consider purchasing from.
The ratings below are for the largest companies in America, so companies that may only write in Colorado are not included in the list. If you'd like to compare prices from many more Colorado auto insurance companies, just click here.
Top 10 Major Auto Insurance Companies in Colorado Ranked by A.M. Best Rating
- USAA - A++
- Travelers - A++
- State Farm - A++
- GEICO - A++
- Esurance - A+
- Nationwide - A+
- Allstate - A+
- Progressive - A+
- Titan Insurance - A+
- The Hartford - A+
Impact of violations and accidents on rates
The best way to enjoy good insurance rates in Colorado for the unemployed is to drive attentively and have a clean driving record. The illustration below highlights how traffic violations and fender-benders can influence auto insurance rates for each different age group. The price estimates are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
In the previous chart, the average cost of an auto insurance policy per year with no violations or accidents is $1,967. Get one speeding ticket and the average cost swells to $2,221, an increase of $254 each year. Now add in two accidents along with the one speeding ticket and the 12-month cost of insurance for unemployed drivers in Colorado increases to an average of $4,618. That's an increase of $2,652, or $221 per month, just for not paying attention while driving!
The benefits of price comparisons
Colorado insurance rates are based on many factors that control your annual premium. Turning one year older, filing a claim, or getting into an accident may cause policy rate changes resulting in some companies being cheaper than before. Not only may your risk profile change, but car insurance companies amend premium rates without warning to reflect underwriting profits or losses. A period of increased losses may cause high rates, while a better loss history may produce more affordable Colorado car insurance rates.
To illustrate this point, the bar chart below demonstrates which company has the cheapest car insurance in Colorado for a 45-year-old female driver with no prior claims, no tickets, and a good credit history. When comparing rates based on her personal profile, The Hartford has the best car insurance rates in Colorado at $850 each year. This is $728 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO also make the list of the cheapest Colorado auto insurance companies.
Let's now give the driver from the first example an accident claim, slightly worse credit, and an imperfect driving record. Because every insurance company has a unique formula for setting rates, analyzing rates will most likely result in a substantially altered list of affordable Colorado car insurance companies as shown below.
Travelers now has the best insurance rate in Colorado with State Farm, American Family, Progressive, and Grange now rounding out the top five. This example demonstrates why drivers need to perform an extensive rate comparison when trying to get cheap auto insurance rates for unemployed drivers.
Insurance rates are impacted by many different factors and can decrease or increase without notice, so the best option the last time you compared rates may now be quite expensive.
How to find more affordable car insurance for unemployed drivers in Colorado
The list below shows many thrifty suggestions that can help Colorado drivers buy low-cost coverage.
- Buying home and auto together can help save money
- Vehicles with safetly features generally cost less to insure
- Try to not file small claims
- Keep your driving record clean
- Having at-fault accidents will increase rates
- Remove physical damage coverage on older vehicles
- Keep rates low by shopping around frequently
The last item on the list is incredibly important, as was pointed out in the prior article. Prices charged by auto insurers adjust often, so you should be ready to buy a policy from a new company if a better rate can be found. Loyalty to a specific company is fine, but it's not a great idea if that devotedness results in you overpaying money that could be going to better use. Now is a great time to compare prices and find cheaper insurance for unemployed drivers.