Comparing rates for low-priced insurance is not most people’s favorite thing to do, and figuring out which companies quote the cheapest car insurance rates for unemployed drivers requires even more diligence. Each auto insurance company has their own process for filing rates in each state, so first let’s look at the rankings for the car insurance companies with the most affordable rates in Jersey City, NJ.
Lowest Insurance Price Quotes for Job Seekers
|Rank||Company||Cost Per Year|
|3||New Jersey Manufacturers||$1,310|
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21st Century may have some of the lowest car insurance rates in Jersey City at around $1,100 per year. This is $752 less than the average policy premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades also qualify as some of the most economical Jersey City, NJ auto insurance companies.
In this example, if you are currently insured with Travelers and switched to 21st Century, you might realize an annual premium reduction of in the vicinity of $91. Policyholders with New Jersey Manufacturers might save as much as $210 a year, and Penn National customers might lower prices by up to $279 a year.
Bear in mind that those rates are averages for all drivers and vehicles in New Jersey and do not factor in a specific zip code for unemployed drivers. So the insurer that fits you best may not even be in the top 19 companies shown above. That’s why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
The make and model of vehicle to be insured is a large factor when comparing quotes for low-cost auto insurance for unemployed drivers. Vehicles with higher performance characteristics, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than more economical and safe models. The data below showcases auto insurance rates for some of the most budget-friendly automobiles to insure in New Jersey.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Chevrolet Malibu LS||$1,664|
|Chevrolet Equinox LS AWD||$1,672|
|Honda Civic EX 4-Dr Sedan||$1,717|
|Hyundai Elantra SE Touring Station Wagon||$1,747|
|Chevrolet Impala LTZ||$1,750|
|Honda CR-V EX-L 4WD||$1,763|
|Ford Escape XLT 4WD||$1,771|
|Ford Edge SE 2WD||$1,771|
|Ford F-150 XL Super Cab 4WD||$1,806|
|Dodge Grand Caravan SE||$1,814|
|Dodge Ram 3500 Crew Cab ST 2WD||$1,847|
|Ford Focus SES 2-Dr Coupe||$1,871|
|Kia Optima SX||$1,903|
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Premium amounts do not factor in specific location information which can change price quotes noticeably.
Based on these rates, you can presume that makes and models like the Chevrolet Malibu, Chevrolet Equinox, Honda Civic, Hyundai Elantra, and Chevrolet Impala will be the cheaper vehicles to insure for the unemployed.
One of the many components that help determine the amount you pay each year for auto insurance is where you live in Jersey City. Regions with larger populations or more claims tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates get the luxury of paying less.
The table below rates the most expensive areas in New Jersey for unemployed drivers in which to buy car insurance. Jersey City is listed at #7 with the yearly price of $2,345 for the average policyholder, which is approximately $195 per month.
|5||West New York||$2,431|
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Table data uses approximated as specific Jersey City garaging address can alter auto insurance rates greatly.
Comparison of full coverage and liability-only policies
Saving money when shopping for car insurance should be important to the majority of vehicle owners, and one great way to pay lower rates for insurance for unemployed drivers is to not buy full coverage. The diagram below illustrates the difference between insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes no accidents or driving violations, $100 deductibles, drivers are single, and no additional discounts are factored in.
Averaged for all age groups, physical damage insurance costs an extra $3,679 per year over having just liability coverage. That brings up the question if full coverage is worth the money. There is no exact rule that is best for determining when to drop physical damage coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
Finding a highly-rated insurance provider can be rather challenging considering how many different companies there are to choose from in New Jersey. The company rank data shown next can help you decide which car insurance companies to look at when trying to find cheaper insurance for unemployed drivers.
These ratings are only made up of the largest auto insurers in America, so companies that may only write in New Jersey will not be included in these rankings. If you wish to compare prices from these and other companies in New Jersey, click this link.
Top 10 Major Auto Insurance Companies Overall in Jersey City
- Mercury Insurance
- The Hartford
- State Farm
- Farmers Insurance
- Safeco Insurance
- 21st Century
Discounts on Jersey City auto insurance rates
Insurance providers that provide coverage for unemployed drivers may additionally offer policy discounts that may potentially lower prices by as much as 35% or more if you meet specific criteria. Large car insurance companies and some of their more popular discounts are outlined below.
- Travelers discounts include save driver, hybrid/electric vehicle, student away at school, new car, good student, and multi-car.
- 21st Century has discounts for defensive driver, student driver, driver training, automatic seat belts, good student, homeowners, and air bags.
- State Farm offers premium reductions for driver’s education, multiple policy, Drive Safe & Save, accident-free, and passive restraint.
- GEICO may offer discounts for daytime running lights, anti-lock brakes, federal employee, five-year accident-free, multi-vehicle, and defensive driver.
- SAFECO offers discounts for safe driver, multi-car, homeowner, accident prevention training, bundle discounts, anti-lock brakes, and drive less.
- AAA policyholders can earn discounts including good student, education and occupation, multi-car, good driver, AAA membership discount, and pay-in-full.
The example below shows the comparison of insurance costs with and without discounts applied to the policy premium. The costs are based on a male driver, no violations or claims, New Jersey state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with multiple vehicle, multiple policy, vehicle safety, homeowner, accident-free, and marriage discounts applied. When discounts are applied, theaverage yearly reduction on car insurance for unemployed drivers is 28% or $608.
How to find the cheapest insurance for unemployed drivers
Lowering your rates is not difficult, and here are some of the recommended money-saving ideas that can help Jersey City drivers get cheaper coverage.
- Vehicles with safetly features generally cost less to insure
- Avoid preventable accidents
- Avoid speeding and other traffic citations and pay less
- Home or renters coverage can save on auto insurance
- Don’t have frequent claims
- Compare rates and switch if you can find a better deal
The last idea is extremely critical, as was discussed in this write-up. Car insurance rates in Jersey City change constantly, so don’t be tentative to switch companies if a cheaper price is available.
Having brand loyalty is commendable, but it’s not recommended if that loyalty ends up costing thousands of dollars over the life of your policy. It only takes a couple minutes to compare rates to find cheaper auto insurance for unemployed drivers.
If you like to have a consultation when shopping for cheaper insurance for unemployed drivers, the agents shown below are willing to help you determine which auto insurance policy would work best for you. To locate a Jersey City auto insurance agent in your neighborhood, click the button after the list.
State Farm Insurance – Freddy Duran
1025 Summit Ave – Jersey City, NJ 07307 – (201) 604-3874
Royale Insurance Agency
2184 John F. Kennedy Blvd – Jersey City, NJ 07305 – (201) 656-1800
Farmers Insurance – Mofalc Meinga
447 Central Ave – Jersey City, NJ 07307 – (201) 435-1616