The make and model of vehicle you are insuring is a large factor in finding low-cost coverage for unemployed drivers. Vehicles with lower acceleration and performance, an excellent safety record, or a low likelihood of having liability claims will cost less to insure than high performance models. The next table illustrates insurance costs for a number of the cheapest automobiles to insure in Texas.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $971 |
| Honda Accord LX 4-Dr Sedan | $1,064 |
| Honda CR-V LX 2WD | $1,074 |
| Toyota Tacoma 4WD | $1,191 |
| Chevrolet Impala LTZ | $1,213 |
| Toyota Camry SE | $1,220 |
| Hyundai Elantra SE 4-Dr Sedan | $1,213 |
| Toyota Prius | $1,215 |
| Nissan Rogue S 2WD | $1,233 |
| Jeep Wrangler Sahara 4WD 2-Dr | $1,235 |
| Chevrolet Malibu LTZ | $1,243 |
| Chevrolet Equinox LTZ AWD | $1,235 |
| Honda Odyssey EX | $1,243 |
| Dodge Ram Crew Cab ST 4WD | $1,255 |
| Ford Edge SEL 2WD | $1,266 |
| Ford F-150 FX4 Super Cab 4WD | $1,284 |
| Ford Explorer Eddie Bauer AWD | $1,293 |
| Toyota RAV4 Sport 2WD | $1,295 |
| Dodge Grand Caravan SXT | $1,324 |
| Ford F-350 XLT Crew Cab Cabela Turbo Diesel 2WD | $1,340 |
| Jeep Grand Cherokee SRT-8 4WD | $1,353 |
| GMC Sierra SLE Crew Cab 4WD | $1,362 |
| Volkswagen Jetta SE 4-Dr Sedan | $1,353 |
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can change coverage prices considerably.
Looking at the numbers, you can figure that cars like the Ford Escape, Honda Accord, Honda CR-V, Toyota Tacoma, and Chevrolet Impala should be the less-costly vehicles to insure for the unemployed.
Finding out which companies offer the most affordable insurance rates for unemployed drivers requires a tad more effort than just picking a company at random. Every insurance provider has a different process for setting prices, so let’s take a look at the overall cheapest insurance companies in Fort Worth, TX.
Best Insurance Companies for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,084 |
| 3 | Texas Farm Bureau | $1,199 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,424 |
| 7 | Mercury | $1,506 |
| 8 | State Farm | $1,510 |
| 9 | Safe Auto | $1,597 |
| 10 | Nationwide | $1,600 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,698 |
| 13 | Amica | $1,723 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,156 |
| 16 | MetLife | $2,183 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,494 |
| 20 | Titan | $2,594 |
| Compare Rates Now Go | ||
Travelers may offer some of the most affordable car insurance rates in Fort Worth at around $1,010 per year. This is $894 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the best Fort Worth, TX car insurance companies.
In this example, if you currently have coverage with Germania Mutual and switched to USAA, you might realize annual savings of about $198. Texas drivers with Esurance may save as much as $281 a year, and California Casualty insureds might reduce rates by $340 a year.
To get a fast rate comparison, click here to begin a quote or quote rates from the companies below.
Understand that those premiums are averaged across all types of insureds and vehicles and and are not figured with an exact zip code location for unemployed drivers. So the insurer that has the cheapest rates for you may not even be in the top 23 companies shown above. That emphasizes why you need to compare rates from multiple companies using your own driver data and vehicle information.
For the unemployed, one of the big criteria that aid in calculating the cost of insurance is where your residence is. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas more rural areas have the benefit of cheaper car insurance.
The next table ranks the highest-priced places in Texas for unemployed drivers to purchase car insurance in. Fort Worth is ranked at #16 with a yearly premium of $1,653 for the average policy, which is about $138 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | McAllen | $2,016 |
| 2 | Brownsville | $1,908 |
| 3 | Laredo | $1,907 |
| 4 | Houston | $1,891 |
| 5 | Dallas | $1,855 |
| 6 | Garland | $1,850 |
| 7 | Amarillo | $1,840 |
| 8 | Mesquite | $1,825 |
| 9 | Pasadena | $1,794 |
| 10 | Irving | $1,772 |
| 11 | Beaumont | $1,754 |
| 12 | Grand Prairie | $1,740 |
| 13 | Austin | $1,676 |
| 14 | San Antonio | $1,671 |
| 15 | Lubbock | $1,665 |
| 16 | Fort Worth | $1,653 |
| 17 | Carrollton | $1,647 |
| 18 | Arlington | $1,642 |
| 19 | Corpus Christi | $1,636 |
| 20 | El Paso | $1,632 |
| 21 | McKinney | $1,577 |
| 22 | Plano | $1,576 |
| 23 | Abilene | $1,561 |
| 24 | Waco | $1,537 |
| 25 | Killeen | $1,473 |
| Find the Best Rates Go | ||
Rate information is estimated as vehicle location can alter premium rates substantially.
Full coverage or liability only
Finding the cheapest insurance is important to the majority of drivers, and one of the quickest ways to save on the cost of insurance for unemployed drivers is to not pay for full coverage. The illustration below compares yearly insurance costs with full coverage compared to only the Texas minimum liability coverage. The premiums are based on no claims, a clean driving record, $250 deductibles, drivers are single, and no discounts are applied.
Averaged out for all age groups, physical damage insurance costs $2,000 per year more than just insuring for liability. A very common question is if paying for full coverage is worth it. There is no set guideline to stop paying for full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s say your vehicle’s settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $8,000 after you pay the deductible. If you are paying over $800 a year for full coverage, then it may be the right time to buy liability only.
There are some circumstances where dropping full coverage is not in your best interest. If you still owe money on your vehicle, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
The illustration below highlights how deductible selection can increase or decrease yearly insurance costs when searching for cheap insurance for unemployed drivers. The rates are based on a married male driver, full physical damage coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could cut expenses by $264 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $402 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old category, could possibly save as much as $884 each year by selecting a higher deductible. When increasing deductibles, it will be required to have enough in a savings account to offset the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Ending up with a highly-rated insurance provider can be difficult considering how many companies are available to choose from in Fort Worth. The rank data displayed below may help you select which companies to look at to insure your vehicles. The rankings below are only made up of the largest companies in America, so companies without a large exposure are not included in these rankings.
Top 10 Major Car Insurance Companies in Fort Worth Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Top 10 Major Car Insurance Companies in Fort Worth Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Low rates today, overpriced tomorrow
Texas insurance rates are determined by lots of factors that will increase or decrease the price of your policy. Simply getting older, having a claim, or having an accident may cause policy rate changes that can cause some rates to be cheaper than others.
Also, auto insurance companies file new rates multiple times each year in order to offset underwriting gains or losses. Significantly higher losses can result in price increases, while profitable underwriting can result in lower-priced Fort Worth car insurance rates.
To illustrate this example, the graph below shows the company with the cheapest car insurance in Fort Worth, TX for a 45-year-old male driver with a clean driving record, no accidents, and great credit. When quoting prices based on his current risk profile, Travelers might offer the lowest car insurance rates in Fort Worth at $1,168 annually. This is $736 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the cheapest Fort Worth, TX auto insurance companies.
The chart below compares rates after we give the driver in the first chart an accident claim, a lower credit rating, and a traffic citation. Since each company has a proprietary method to set premium rates, comparing rates could result in a completely different list of the cheapest Fort Worth car insurance companies as shown below.
State Farm now has the best price on car insurance in Fort Worth with Mercury, Nationwide, Safe Auto, and USAA also having competitive pricing. This demonstrates why consumers need to take the time to shop around when trying to get the best auto insurance quotes for unemployed drivers.
Insurance prices are influenced by many things and change substantially, so the most affordable company six months ago may now cost much more than other companies.
The Fort Worth car insurance agencies listed below can help you decide which car insurance company is the best fit, as some drivers wish to have the advice of a professional agent when shopping for the best coverage for the unemployed. It can be time-consuming to find the best rates on your own, and professional agents can provide peace of mind knowing you have enough coverage if you have a claim. To find an agent close to where you live, click the link after the list or click here to get price quotes now.
- Luna Insurance Agency
4475 Hemphill St – Fort Worth, TX 76115 – (817) 744-8150 - Allstate Insurance: Nicki Knowlton
5318 Birchman Ave – Fort Worth, TX 76107 – (817) 737-7555 - Clint Goin – State Farm Insurance Agent
7420 N Beach St #234 – Fort Worth, TX 76137 – (817) 485-5660