How Much are Auto Insurance Rates for Unemployed Drivers in Austin?

The vehicle requiring insurance is one of the primary factors when comparing quotes for the best cheap coverage for unemployed drivers. Vehicles with lots of speed or power, poor safety ratings, or an increased likelihood of liability claims will cost much more to insure than safer models. The data below ranks car insurance prices for a handful of the most economical automobiles to insure in Texas.

Cheapest Vehicles to Insure in Austin, TX
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V EX-L 4WD $804
Jeep Wrangler Sport Islander Package 4WD 2-Dr $859
Hyundai Elantra GLS Touring Station Wagon $890
Ford F-150 Lariat Crew Cab 2WD $947
Ford Escape Limited 4WD $971
Toyota Camry XLE $975
Chevrolet Silverado 2500HD LT Crew Cab 4WD $995
Honda Civic Hybrid 4-Dr Sedan $1,004
Toyota Prius $997
Dodge Grand Caravan SE $1,001
Dodge Ram Quad Cab TRX4 Off Road 2WD $1,012
Honda Odyssey EX W/Rear Entertainment $1,036
Ford Edge Limited 2WD $1,043
Honda Accord LX-S 2-Dr Coupe $1,041
GMC Sierra 2500HD SLT Extended Cab 4WD $1,043
GMC Sierra SLE Regular Cab 2WD $1,054
Toyota RAV4 Sport 4WD $1,060
Volkswagen Jetta S 4-Dr Sedan $1,070
Toyota Tacoma Double Cab 4WD $1,060
Ford Explorer Limited AWD $1,076
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Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rates do not factor in specific garaging location which can alter premiums noticeably.

Looking at the rates, makes and models like the Honda CR-V, Jeep Wrangler, and Hyundai Elantra will definitely be some of the most affordable vehicles to insure for the unemployed.

For the unemployed, one of the big components that are looked at to help calculate the amount you pay each year for auto insurance is where your residence is in Austin. More populated areas tend to pay more, whereas areas with less crime or weather claims benefit from lower prices.

The table below ranks the priciest cities in Texas for unemployed drivers to purchase a policy in. Austin comes in at #16 with an annual cost of $1,676 for the average policy, which is around $140 monthly.

How much is car insurance in Austin?
Rank City Premium Per Year
1 McAllen $2,016
2 Laredo $1,889
3 Dallas $1,855
4 Houston $1,853
5 Brownsville $1,851
6 Mesquite $1,825
7 Grand Prairie $1,811
8 Amarillo $1,804
9 Garland $1,778
10 Pasadena $1,740
11 San Antonio $1,739
12 Irving $1,736
13 Beaumont $1,702
14 Arlington $1,692
15 Lubbock $1,682
16 Austin $1,676
17 Carrollton $1,664
18 Fort Worth $1,653
19 El Paso $1,616
20 McKinney $1,577
21 Plano $1,576
22 Corpus Christi $1,572
23 Abilene $1,545
24 Waco $1,537
25 Killeen $1,533
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Annual rates are comparative as the specific Austin residence address can modify prices greatly.

Full coverage rates compared to liability-only

Finding cheaper auto insurance is the goal of most drivers, and one common way to buy cheaper insurance for unemployed drivers is to not buy full coverage. The example below illustrates the difference between insurance rates when comparing full coverage to liability only. The data assumes no driving violations, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are factored in.

Averaged for all age groups, comprehensive and collision coverage on your policy costs $2,159 per year more than just buying liability insurance. That raises the question if buying full coverage is a good investment. There isn’t a written rule of when to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

The example below illustrates how your deductible choice can affect insurance costs when trying to find cheap insurance for unemployed drivers. The information is based on a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

The data above shows that a 50-year-old driver could lower their policy premium by $440 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $660 by using a $1,000 deductible. Younger drivers, such as the Age 20 example, can save $1,446 every year by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it’s a good idea to have enough savings to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

How accidents and violations affect rates in Austin

One of the best ways to maintain the best auto insurance prices for the unemployed is to drive safe and have a clean driving record. The diagram below shows how speeding tickets and at-fault claims increase car insurance rates for each different age group. The information is based on a single male driver, full coverage, $100 deductibles, and no other discounts are factored in.

In the previous chart, the average cost of car insurance per year with no accidents or violations is $2,181. Get one speeding ticket and the average cost surges to $2,456, an increase of $275 each year. Then add one accident along with the one speeding ticket and the 12-month cost of auto insurance for unemployed drivers increases to an average of $3,232. That’s an increase of $1,051, or $88 per month, just for not keeping your driving record clean!

Here’s why you should compare rates often

Austin auto insurance rates are determined by lots of factors which can significantly increase or decrease the policy premium. Simply having another birthday, buying a home, or getting a speeding ticket may generate price changes that can now make some companies cheaper than before. In addition, companies file new rates multiple times each year to adjust for heavy claims or excess profits. Higher than normal claim frequency or severity can result in additional premium costs, while a profitable period may result in cheaper Austin car insurance rates.

The bar chart below shows the company with the cheapest car insurance in Austin, TX for a 35-year-old female driver with a clean driving record, no accidents, and good credit. If we estimate rates based on her current rating profile, Travelers might quote the lowest car insurance rates in Austin at $1,104 per year. This is $800 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also included in the top five cheapest Austin, TX auto insurance companies.

Now let’s give the driver from above a chargeable claim, bad credit, and a stop sign violation. Since every car insurance company has their own formula for filing rates in each state, analyzing rates may now show a completely different list of cheap Austin auto insurance companies as shown below.

Mercury now has the cheapest insurance rate in Austin with State Farm, Safe Auto, Nationwide, and USAA completing the list. This illustrates why consumers need to take the time to shop around with many companies to get the most affordable insurance quotes for unemployed drivers.

Auto insurance prices are influenced by many risk factors and change substantially, so the cheapest company the last time you shopped around may now be quite expensive.