Who Has Cheap Raleigh Car Insurance Rates for Unemployed Drivers?

Wouldn’t it be great if we could magically tell you one specific company that has the cheapest insurance for unemployed drivers? It’s not quite that easy, unfortunately, as there are a ton of unknown factors like how many years you have been driving, whether or not you own a home, your marital status, and the amount of coverage you want. This article will discuss some of these factors and will hopefully give you a good beginning to your quest for cheaper car insurance.

Deciphering which companies quote the cheapest auto insurance rates for unemployed drivers requires a bit more effort in order to find the best price. Each insurance company uses different criteria to set policy rates, so we need to take a look at the most affordable auto insurance companies in Raleigh, NC.

It’s important to know that Raleigh auto insurance rates are based on many factors that can increase the price of your policy. Turning one year older, having a teen driver, or getting a ticket for running a stop sign can cause premium changes resulting in some rates now being cheaper than others.

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North Carolina auto insurance company rankings
Rank Company Cost Per Year
1 Progressive $632
2 Utica National $655
3 GEICO $728
4 Liberty Mutual $728
5 NC Farm Bureau $730
6 Titan $737
7 Penn National $739
8 State Farm $749
9 Auto-Owners $852
10 National General $890
11 Erie $895
12 Travelers $927
13 Allied $928
14 Peerless $992
15 Unitrin $1,002
16 MetLife $1,007
17 Encompass $1,031
18 Nationwide $1,041
19 Allstate $1,064
20 Safeco $1,076
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Progressive generally has some of the cheapest car insurance rates in Raleigh at around $632 each year. Utica National, GEICO, Liberty Mutual, and NC Farm Bureau would also be considered some of the cheaper Raleigh, NC auto insurance companies.

As shown in the rates above, if you have coverage with Liberty Mutual and switched to Utica National, you may realize an annual savings of in the neighborhood of $73. Drivers with NC Farm Bureau may save as much as $75 a year, and Titan policyholders might realize rate reductions of up to $82 a year.

To find the cheapest coverage for you, click here to start your custom quote or visit several of the following companies.

Be aware that those prices are averaged across all ages of drivers and types of vehicles and do not factor in a specific zip code for unemployed drivers. So the auto insurance company that is best suited for you may not even be in the top 20 companies shown above. That underscores the importance of why you need to get rate quotes from many companies using your own specific driver and vehicle information.

For the unemployed, one of the big factors that are used to help calculate the amount you pay for auto insurance is where you normally keep your vehicle in Raleigh. Areas with a lot of weather claims or more people are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.

The next table sorts the highest-priced areas in North Carolina for unemployed drivers to purchase a policy in. Raleigh ranks #14 with an annual rate of $737 on average, which is around $61 monthly.

How much does car insurance cost in Raleigh, NC?
Rank City Annual Premium
1 Fayetteville $932
2 Jacksonville $873
3 Charlotte $808
4 Gastonia $803
5 Durham $797
6 Greensboro $786
7 Wilmington $781
8 Huntersville $764
9 Greenville $760
10 Wilson $754
11 Cary $749
12 High Point $745
13 Goldsboro $743
14 Raleigh $737
15 Rocky Mount $726
16 Apex $725
17 Indian Trail $723
18 Winston Salem $716
19 Hickory $711
20 Chapel Hill $703
21 Burlington $692
22 Salisbury $684
23 Concord $676
24 Kannapolis $669
25 Asheville $661
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Annual rates are comparative as the specific Raleigh residence address can affect auto insurance rates significantly.

Should you buy full coverage?

Reducing the cost of auto insurance is important to most people, and a good way to save on the cost of insurance for unemployed drivers is to not pay for full coverage. The chart below shows the difference between auto insurance costs with and without full coverage. The data assumes no claims or driving citations, $250 deductibles, marital status is single, and no discounts are applied to the premium.

Averaged out for all age groups, physical damage coverage on your policy costs $1,453 per year more than just buying liability only. At some point, about every driver wonders if buying full coverage is worth the money. There is no definitive guideline of when to exclude physical damage coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s replacement value is $10,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $9,000 after the deductible is paid. If premium cost is more than $900 annually to have full coverage, then you may need to consider dropping full coverage.

Discount Raleigh auto insurance rates

Save on auto insurance for the unemployed in RaleighInsurance providers that offer quotes for unemployed drivers may provide price discounts that could potentially reduce rates by 35% or more if you meet specific criteria. Popular auto insurance companies and a partial list of their discounts can be found below.

The diagram below shows the difference between yearly insurance costs with and without discounts. The price estimates are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, full coverage, and $1,000 deductibles.

The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, passive restraint, safe-driver, vehicle safety, claim-free, and defensive driving course discounts applied. When drivers take advantage of discounts, the average savings per year on auto insurance for unemployed drivers is 28% or $290.

Choosing the best auto insurance provider can be a challenge considering how many companies there are to choose from in North Carolina. The company information displayed below can help you select which coverage providers you want to consider when buying insurance for unemployed drivers. The rankings below include large insurance companies, so companies that may only write in North Carolina are not included in the list.

Best Ten Auto Insurance Companies for Unemployed Drivers in North Carolina
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
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Data Source: Insure.com Best Car Insurance Companies

If you like to get some professional advice when buying car insurance for unemployed drivers, the professional agents shown below are a good start to provide answers to your questions and help you determine which coverages and limits you need.

To find an auto insurance agency by location nearest to you, click the link after the list.

Compare Insurance Agency LLC
6531 Creedmoor Rd # 206Raleigh, NC 27613(919) 863-0150

Carolina Insurance Professionals
5540 Centerview DrRaleigh, NC 27606(919) 285-4732

Cecil Burt – State Farm Insurance Agent
6837 Falls of Neuse Rd #104Raleigh, NC 27615(919) 846-8006

IGO Insurance Agency Inc.
8117 Ebenezer Church RdRaleigh, NC 27612(919) 782-1560

View more Raleigh, NC insurance agencies