The first thing you need to know is that being unemployed does not mean you get to stop paying for your auto insurance. If you drive a car on public roads, it is required by law that you have valid car insurance. This is true in every state, although the actual laws and processes may differ. It is up to you to know and follow the car insurance laws in your state.
How do i buy car insurance if i am unemployed?
First, it’s important to understand that being unemployed does not exclude you from being able to buy auto insurance. Having a job and purchasing car insurance are not at all related. So, the process of buying car insurance while unemployed is no different than if you are employed.
However, being unemployed can mean that you have difficulty buying auto insurance because of the cost. Auto insurance carriers have a wide range of factors they take into consideration when calculating your premiums, so you would be wise to take a look at which of these factors you have some control of. You may be able to find ways to save money.
How can i save money buying car insurance if i am unemployed?
No matter what your employment status is, it’s always a good idea to figure out how to save money on your car insurance. Here are some things you can do.
Ask About Telematics
Telematics is simply the use of data to determine your premium amount. This is related to usage-based car insurance. Usually, there is a device that you install on your vehicle that tracks your driving habits such as speed, mileage and braking habits. The insurance company uses this data to determine how much of a risk you are.
If you don’t drive much or if you are a very good and safe driver you could see savings using telematics. Telematics can be a good way for insurance companies to see the amount of risk you actually present rather than guessing based on statistics.
Ask About Discounts
If you aren’t taking advantage of discounts, now is the time. Being unemployed means you need to find all the savings you can. Consider the following types of discounts.
Multi-policy – If your household has more than one car you can receive a discount for a multi-vehicle policy. If you own a home, bundling your home and auto insurance can also save you money
Good driver – If you have not had any accidents or tickets, make sure you are getting a good driver discount off your premium.
Good student – If you are a student, there is a discount available for keeping good grades.
Associations and groups – If you are a part of an association, such as AAA or AARP, you should be sure to get the discount that these groups have negotiated with insurance companies.
By far the best way to find the best rates is to shop around. InsuranceWins can help you compare rates from several insurance companies in order to help you find a rate that covers you and one that you can afford during your time of unemployment. Don’t wait. Start shopping and comparing today!