Finding out which companies have the cheapest auto insurance rates for unemployed drivers involves more work than just picking a company at random. Each insurer uses their own method for establishing rates, so let’s take a look at the auto insurance companies with the most affordable rates in Las Vegas, NV.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Allied | $939 |
| 2 | Travelers | $939 |
| 3 | Capital | $1,008 |
| 4 | Oregon Mutual | $1,182 |
| 5 | American Family | $1,194 |
| 6 | Progressive | $1,226 |
| 7 | GEICO | $1,269 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,284 |
| 10 | Safeco | $1,320 |
| 11 | Farmers | $1,496 |
| 12 | MetLife | $1,631 |
| 13 | Country | $1,668 |
| 14 | State Farm | $1,681 |
| 15 | Mercury | $1,807 |
| 16 | Victoria | $2,031 |
| 17 | Liberty Mutual | $2,249 |
| 18 | Bristol West | $2,313 |
| 19 | Allstate | $2,385 |
| 20 | Encompass | $2,630 |
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Allied has some of the lowest car insurance rates in Las Vegas at around $939 each year. Travelers, Capital, Oregon Mutual, and American Family would also make the list of some of the most economical Las Vegas, NV insurance companies.
In the above rates, if you are insured with Oregon Mutual and switched to Travelers, you might see yearly savings of around $243. Nevada drivers with American Family may save as much as $255 a year, and Progressive policyholders might realize rate reductions of up to $287 a year.
Understand that those rates are averages across all ages of drivers and types of vehicles and and are not calculated with an exact location for unemployed drivers. So the car insurance company that has the cheapest rates for you may not even be in the top 20 companies shown above. That emphasizes why you need to get car insurance quotes using your own specific driver and vehicle information.
One of the many criteria that aid in calculating car insurance rates is where you choose to live. Cities with larger populations or higher claim trends likely pay more, whereas areas with less congestion can boast about having cheaper rates.
The illustration below rates the most expensive cities in Nevada for unemployed drivers to buy car insurance in. Las Vegas shows up at #5 having an annual price of $1,949 for the average insurance policy, which is around $162 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Winchester | $2,116 |
| 2 | Sunrise Manor | $2,090 |
| 3 | Paradise | $2,061 |
| 4 | Spring Valley | $2,060 |
| 5 | Las Vegas | $1,949 |
| 6 | Enterprise | $1,851 |
| 7 | North Las Vegas | $1,844 |
| 8 | Henderson | $1,767 |
| 9 | Boulder City | $1,557 |
| 10 | Pahrump | $1,364 |
| 11 | Mesquite | $1,311 |
| 12 | Sun Valley | $1,292 |
| 13 | Sparks | $1,278 |
| 14 | Spanish Springs | $1,266 |
| 15 | Reno | $1,244 |
| 16 | Carson City | $1,158 |
| 17 | Fernley | $1,137 |
| 18 | Spring Creek | $1,114 |
| 19 | Gardnerville Ranchos | $1,104 |
| 20 | Fallon | $1,097 |
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Rate quotes are estimated as specific Las Vegas garaging address can impact rates greatly.
Full coverage versus liability only rates
Reducing the cost of auto insurance is the goal of most drivers, and one of the best ways to buy cheap insurance for unemployed drivers is to only buy liability coverage. The chart below illustrates the difference between yearly insurance costs with full physical damage coverage and with liability coverage only. The data is based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied.
As an average for all age groups, full coverage on your policy costs an additional $2,410 per year more than insuring for liability only. That amount may make you wonder if it’s a good idea to buy full coverage. There is no exact rule to exclude full coverage, but there is a general guideline. If the annual cost of coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
Discount Las Vegas auto insurance
Car insurance companies that provide policies for unemployed drivers may provide policy discounts that may potentially lower prices by 40% or more if you meet the requirements. Large auto insurance companies and the discounts they provide are included below.
- Esurance offers discounts for multi-policy, Switch & Save, homeowner, renters, Pac-12 alumni, emergency road assistance, and anti-lock brakes.
- The Hartford may offer discounts for driver training, vehicle fuel type, defensive driver, bundle, air bag, and good student.
- AAA includes discounts for pay-in-full, multi-policy, multi-car, AAA membership discount, and education and occupation.
- GEICO offers premium reductions for air bags, anti-lock brakes, seat belt use, federal employee, and membership and employees.
- State Farm may include discounts for defensive driving training, student away at school, anti-theft, multiple autos, multiple policy, and passive restraint.
The diagram below shows the difference between yearly insurance costs with and without discounts applied to the premium. Data assumes a female driver, no violations or claims, Nevada state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, passive restraint, defensive driving course, multiple vehicle, accident-free, and safe-driver discounts applied. With discounts applied, theaverage yearly reduction on auto insurance for unemployed drivers is 28% or $370.
Why are you paying too much for Las Vegas car insurance?
Las Vegas, NV auto insurance rates are impacted by many things which can significantly increase or decrease the cost of your policy. Simply having another birthday, increasing deductibles, or getting a couple of tickets may cause policy rate changes resulting in some rates now being cheaper than others. In addition, auto insurance companies amend pricing as often as every three months to adjust for gains or losses. Significantly higher claims can cause a rate increase, while a better loss history may produce lower-priced Las Vegas car insurance rates.
To illustrate this point, the graph below analyzes the cheapest car insurance in Las Vegas, NV for a 35-year-old male driver with no accidents or violations, and a decent credit rating. Based on his current rating profile, Allied may have the most affordable car insurance rates in Las Vegas at $1,643 per year. This is $69 more than the average policy premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family also make the list of the best Las Vegas, NV auto insurance companies.
In the next rate comparison, we’ll give the driver in the first example an accident surcharge, poor credit, and a stop sign violation. Since each insurance company has a unique formula to determining premium rates, analyzing rate quotes may result in a substantially altered list of cheap Las Vegas auto insurance companies as shown below.
GEICO now has the best auto insurance rate in Las Vegas with Travelers, USAA, Safeco, and Nationwide now being in the top five. This illustrates why it is so important to do a thorough rate comparison when trying to get cheap auto insurance rates for unemployed drivers.
Auto insurance prices can be determined by many different factors and change substantially, so the best price a year ago may now be costing you a lot of money.
How to find budget-friendly car insurance for unemployed drivers
Here are some of the recommended penny-pinching ideas that can help Nevada drivers locate lower-cost coverage.
- Buying car and homeowners insurance together can save money
- Choose a safer vehicle and pay lower rates
- Pay for smaller claims out-of-pocket
- Do not get tickets
- Do not pay for comprehensive and collision coverage on older vehicles
- Accident-free drivers may qualify for discounts
- Ensure you have the best deal by shopping around regularly
That last tip is incredibly important, as was affirmed in this piece. Prices charged by car insurance companies in Las Vegas can change considerably based on profitability, so don’t hesitate to buy from a different company if a cheaper rate is available.
Having a favorite company is fine, but we do not recommend it if your bullheadedness ends up costing you major coinage every year. Take a couple minutes and compare rates and find cheaper auto insurance for unemployed drivers.
If you prefer to get some guidance when trying to find the best insurance rates for unemployed drivers, the professional agents shown below can most likely help you determine which insurance coverage will be best for you. To find an agent by location nearest to you, click the link after the list.
- State Farm: Gregory A Moore
4312 W Charleston Blvd – Las Vegas, NV 89102 – (702) 870-9298 - Family Trust Insurance, LLC
6420 W Spring Mountain Rd #20 – Las Vegas, NV 89146 – (702) 212-3838 - Estrella Auto Insurance
2349 E Bonanza Rd – Las Vegas, NV 89101 – (702) 671-4081 - Omega Insurance Brokerage
3301 W Spring Mountain Rd – Las Vegas, NV 89102 – (702) 685-0170