Ideally, we could tell you the one company that has the cheapest policy rates in Florida. Regrettably, it’s not quite that easy, as there are a whole bunch of unknown elements like if you have a spouse, your credit rating, and what coverage limits you want, that all impact the cost of coverage. This article will cover the causes of high insurance rates and educate you enough to have a good beginning to your search for cheaper coverage.
The make and model of vehicle needing coverage is a large factor when comparing quotes for cheap insurance for retired military. Vehicles with reasonable performance levels, excellent safety ratings, or a positive history of liability claims will cost less to insure than fast, unsafe models.
The next table ranks insurance rates for the most budget-friendly automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,124|
|Honda CR-V EX-L 4WD||$1,150|
|Chevrolet Impala LS||$1,302|
|Ford Fusion S 4-Dr Sedan||$1,328|
|Toyota Corolla LE||$1,398|
|Honda Odyssey EX-L||$1,404|
|Ford Escape Limited 2WD||$1,412|
|GMC Sierra SLE Extended Cab 4WD||$1,422|
|Jeep Grand Cherokee Limited 4WD||$1,429|
|Nissan Rogue S AWD||$1,427|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$1,448|
|Dodge Ram Crew Cab ST 2WD||$1,451|
|Ford Edge SEL 2WD||$1,492|
|Hyundai Sonata SE 4-Dr Sedan||$1,496|
|Chevrolet Equinox LS AWD||$1,520|
|Toyota RAV4 4WD||$1,528|
|Chevrolet Malibu LS||$1,520|
|Toyota Camry Hybrid||$1,525|
|Ford Explorer Limited 4WD||$1,549|
|Dodge Grand Caravan Crew||$1,557|
|Ford Focus SEL 4-Dr Sedan||$1,571|
|Chevrolet Silverado 2500HD LT Crew Cab 2WD||$1,590|
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Prices do not factor in specific location information which can revise premium rates significantly.
Looking at the numbers, you can expect cars like the Honda Accord, Honda CR-V, and Chevrolet Impala are most likely to be the most affordable vehicles to insure for veterans.
Establishing which insurers offer the most affordable car insurance rates for retired military will involve a bit more effort than just comparing a company or two.
Every insurance provider has a different process to determine rates, so to begin we’ll rank the car insurance companies with the overall best prices in Jacksonville.
Cheapest Insurance Rates for Vets
|Rank||Company||Cost Per Year|
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USAA quotes some of the cheapest car insurance rates in Jacksonville at around $986 each year. This is $1,462 less than the average policy premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers also qualify as some of the lowest-priced Jacksonville, FL car insurance companies.
As shown above, if you are insured with Electric and switched to USAA, you could earn annual savings of around $760. Drivers with Progressive might save as much as $807 a year, and Travelers customers might realize rate reductions of up to $883 a year.
It’s important to note that these estimates are averaged across all types of drivers and the different vehicles they drive and and are not figured with an exact zip code location for retired military. So the insurer that has the cheapest rates for you may not even be in the top 21 companies in the list above. That affirms the importance of why you need to get rate quotes using your own personalized driver profile and vehicle information.
Tickets and at-fault accidents raise rates
The common sense way to snag cheap car insurance prices for veterans is to drive cautiously and avoid accidents and keep your driving record clean. The information below demonstrates how speeding tickets and at-fault collisions can affect insurance rates for different age groups. The premium estimates are based on a single male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of a car insurance policy per year with no accidents or violations is $2,922. Add in two speeding tickets and the average cost hikes up to $3,874, an increase of $952 each year. Now add in one accident along with the two speeding tickets and the yearly cost of car insurance for retired military goes up to an average of $4,848. That’s an increase of $1,926, or $161 per month, just for being a careless driver!
How to get discounts on Jacksonville car insurance rates
Auto insurance companies that offer coverage for retired military may additionally offer discounts that could reduce prices by as much as 25% or more if you can meet the requirements. Popular car insurance companies and a selection of discounts are:
- Progressive policyholders can earn discounts including homeowner, continuous coverage, good student, online signing, and multi-vehicle.
- SAFECO offers discounts for anti-lock brakes, safe driver, homeowner, teen safe driver, accident prevention training, and drive less.
- American Family has savings for bundled insurance, accident-free, multi-vehicle, defensive driver, Steer into Savings, and good student.
- MetLife offers premium reductions for accident-free, good student, good driver, multi-policy, and claim-free.
- GEICO may offer discounts for emergency military deployment, federal employee, good student, defensive driver, driver training, seat belt use, and five-year accident-free.
- The Hartford may have discounts that include good student, vehicle fuel type, air bag, bundle, defensive driver, anti-theft, and driver training.
The illustration below visualizes the comparison of insurance costs with and without discounts applied to the policy rates. The rate quotes are based on a male driver, no tickets, no at-fault accidents, Florida state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with passive restraint, multiple vehicle, accident-free, homeowner, multiple policy, and claim-free discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on car insurance for retired military is 28% or $742.
Your low-price policy may be costing you money
Jacksonville, FL car insurance rates are influenced by many factors that will increase or decrease the policy price. Simply having a birthday, buying a different home, or getting a few speeding tickets may generate price changes that can now make some companies more affordable than competitors. Not only may your risk profile change, but companies change their prices every year or even multiple times each year to adjust for heavy claims or excess profits. Higher than normal claim frequency or severity may cause additional price hikes, while lower claim levels can produce lower-priced Jacksonville car insurance rates.
The graph below shows the companies that have the cheapest car insurance in Jacksonville, FL for a 45-year-old female driver with a good driving record, no prior claims, and good credit. If we look at prices based on her current situation, USAA quotes the best car insurance rates in Jacksonville at $1,186 per year. This is $1,262 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury also make the list of the most affordable Jacksonville, FL auto insurance companies.
In the next rate comparison, we’ll give the driver from the above example a couple of claims, a little lower credit rating, and a traffic citation. Because every insurance company has a proprietary method to determining premium rates, comparing rates most likely will result in a different list of affordable Jacksonville car insurance companies as shown below.
USAA now has the best auto insurance rate in Jacksonville with Allied, State Farm, Esurance, and GEICO also having competitive pricing. This shows why consumers need to take the time to spend some time comparing rates to find the most economical car insurance quotes for retired military. Prices are determined by many factors and change frequently, so the most economical option two years ago may now be priced much higher than other options.