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Car insurance is one of those things in life that people hate to have to pay for, but are happy that they do pay for it when they need it. It is mandated by law that if you are operating a vehicle on the open road that the vehicle must be covered with at least a liability policy. Due to this mandate, if you are discovered to be operating your vehicle without proper coverage, you will subject yourself to fines and even jail time in some cases. The poor economy has caused many people to reconsider their spending habits. They believe that because they have lost their jobs that they should be able to get away with not having coverage on their vehicles. This is not the case. In fact, according to statistics, people that are unemployed will actually have to pay a higher premium for their coverage than individuals who are employed. In fact, unemployed individuals are put into a higher risk category than individuals who are employed. If you think about the situation logically, it does make a lot of sense. People who are not working do not have the monetary assets to be able to afford to properly maintain their vehicles correctly. When you are unable to properly keep your vehicle in proper working order, this creates a problem for you and other drivers on the road. For example, if you let the brakes on your vehicle become worn down, because you do not have the money to fix them, this makes you a risk. Insurers know that unemployed people will not maintain their vehicles properly; therefore they put them into a different risk category than individuals who are employed. Unemployed individuals are likely to drive their vehicles a lot more than people who are employed. Individuals that are employed will usually remain at their jobs for eight to twelve hours per day. During this time, their vehicle is parked; anytime that you get behind the wheel of your vehicle you are putting yourself at risk. There are a lot of unemployed people that believe that insurers are out to get them. This is a common misconception. What many unemployed individuals do not realize is that insurers have always based their premiums off of their occupation. When you had an occupation, you did not have to worry as much about the cost of your coverage. However, being unemployed, makes you think about money differently. You will strive to do everything in your power to make every penny stretch as far as you can. Thankfully, there are some things you can do to help keep your premiums low. One thing is to choose to not drive your vehicle. This usually works best in households that own more than one vehicle. When it comes time to renew your car insurance policy, search for different companies that are willing to work with you, knowing your occupational status. Get a few quotes from different companies, comparing their prices to your present insurer's prices. Shopping around is always encouraged. However, being unemployed, you will learn to understand the value of a dollar. When there are not enough dollars to go around because there is no income coming into your home, you need to do everything in your power to work with what you have. You will find a summary of the benefits of having comprehensive car insurance coverage and details about the factors that affect car insurance rates, now.
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