With the unemployment rate being at a historical high, getting adequate car insurance can be quite a problem. Even though you don't have a stable source of income, you still need to drive -- probably more than you did when you had a job. You are probably going to attend some interviews at remote locations, so an affordable means of transportation is a must.
Insurance companies tend to charge unemployed customers more, and justify the rates by saying that unemployed people are more likely to file claims. This is quite understandable up to some point -- if you had a job, you would probably fix minor damages on your own in an attempt to protect your no-claims discount. If you are broke, though, you are likely to lodge a claim for even minor broken lights, scratches or dents.
It's vital to shop around for the best deals, and we at Auto Owners Insurances provide you with a straightforward way of comparing quotes from trustworthy and rock-solid insurance carriers. Insurers weigh your scoring data in different ways, so it's important that you get quotations from as many companies as you can. Here are some further tips that can help you lower your premiums.
We admit that the more coverage you have, the better you will sleep at night knowing that your assets are protected. However, given that you are likely under some major budget strains, it is highly advisable to drop everything on top of the liability insurance. Yes, you will be taking some chances, but you need to calculate the risk carefully and decide on some lower degree of coverage.
Insurance costs are somewhat proportional to how much you are going to drive. Therefore, do your best to lower the number of miles you are going to drive. Only use your car if you have to, and consider walking, public transportation or car pooling for not so stringent needs.
Again, this is a calculated risk, but if you must keep your comprehensive or collision policy then consider increasing your deductibles. You will be paying more out of your pocket in case of a claim, but an increase in the voluntary excess of as little as a few hundred dollars can lead to considerably lower premiums.