The words “cheap” and “auto insurance” really shouldn’t be used in the same sentence, especially when you are trying to find the best price on coverage for retired military. In an attempt to save some money, let’s start off by going over some of the things that influence auto insurance rates, and figure out some ways to take the bite out of the next policy you buy.
The make and model of vehicle on the policy is probably the biggest factor when comparing quotes for the most affordable coverage for retired military. Vehicles with lower performance, good safety features, or low incidents of liability claims will cost less to insure than fast, unsafe models.
The next list estimates car insurance prices for a handful of the cheapest vehicles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Edge SE 2WD | $997 |
| Ford Escape Limited 2WD | $1,018 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,025 |
| Honda CR-V EX 4WD | $1,055 |
| Volkswagen Jetta 2.0T Station Wagon | $1,063 |
| Toyota RAV4 Limited 4WD | $1,076 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $1,096 |
| Toyota Corolla S | $1,134 |
| Toyota Prius | $1,136 |
| Ford F-150 Lariat Crew Cab Harley 2WD | $1,154 |
| Nissan Rogue S AWD | $1,160 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,154 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,171 |
| Chevrolet Silverado 3500HD LT Crew Cab 2WD | $1,175 |
| Chevrolet Equinox LS 2WD | $1,177 |
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Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Premium amounts do not factor in specific location information which can revise prices greatly.
Looking at the data, you can presume that cars like the Ford Edge, Ford Escape, Jeep Wrangler, Honda CR-V, and Volkswagen Jetta are likely to be some of the more affordable vehicles to insure for veterans.
Finding affordable car insurance is not the easiest thing to accomplish, and figuring out which company has the cheapest car insurance rates for retired military will take a little more work. Each company has a proprietary method to establish rates, so let’s begin by examining the car insurance companies with the overall cheapest rates in Texas.
We do need to point out that Austin car insurance rates are impacted by many things that will increase or decrease your annual premium. This price variation is why it is critical to take the time to shop around to find cheap car insurance quotes for retired military. Prices are calculated by many things and can decrease or increase without notice, so the cheapest option six months ago may now cost much more than other companies.
Find Cheaper Car Insurance for Vets
Travelers has some of the cheapest car insurance rates in Austin at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the best Austin, TX auto insurance companies.
As illustrated above, if you are a policyholder with Germania Mutual and switched to Travelers, you could see savings of in the neighborhood of $272. Drivers with Esurance might save as much as $369 a year, and California Casualty insureds might cut rates by $386 a year.
Be aware that those rates are averaged across all insureds and vehicles and do not factor in a specific zip code for retired military. So the car insurance company that fits your situation best may not even be in the list above. That points out the importance of why you need to compare prices as often as possible using your own individual information.
One of the many considerations that are looked at to determine the amount you pay for auto insurance is where you keep your car. Cities with more crime and/or more people tend to have more expensive auto insurance rates, whereas areas with less congestion receive better rates.
The illustration below shows the highest-priced areas in Texas for retired military to buy an auto insurance policy in. Austin comes in at #15 with an annual premium of $1,676 on average, which is around $140 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Brownsville | $1,870 |
| 3 | Dallas | $1,855 |
| 4 | Houston | $1,853 |
| 5 | Laredo | $1,851 |
| 6 | Grand Prairie | $1,811 |
| 7 | Mesquite | $1,807 |
| 8 | Amarillo | $1,786 |
| 9 | Garland | $1,778 |
| 10 | Beaumont | $1,754 |
| 11 | Pasadena | $1,740 |
| 12 | San Antonio | $1,739 |
| 13 | Irving | $1,736 |
| 14 | Arlington | $1,692 |
| 15 | Austin | $1,676 |
| 16 | Fort Worth | $1,670 |
| 17 | Lubbock | $1,665 |
| 18 | El Paso | $1,632 |
| 19 | Carrollton | $1,598 |
| 20 | Corpus Christi | $1,588 |
| 21 | Waco | $1,584 |
| 22 | Abilene | $1,561 |
| 23 | McKinney | $1,561 |
| 24 | Plano | $1,560 |
| 25 | Killeen | $1,518 |
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Price information shown is estimated as zip code location can modify rates considerably.
Cautious Austin drivers save money
The best way to score cheap car insurance premiums for veterans is to drive safely and avoid traffic citations and accidents. The diagram below illustrates how speeding tickets and accidents impact car insurance rates for different insured age categories. The rate quotes are based on a married male driver, full physical damage coverage, $250 deductibles, and no discounts are applied to the premium.
The data above shows the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,889. Get written up for two speeding tickets and the average cost jumps to $2,614, an increase of $725 each year. Then add one accident along with the two speeding tickets and the 12-month cost of car insurance for retired military increases to an average of $3,338. That’s an increase of $1,448, or $121 per month, just for being a little careless behind the wheel!
Get discounts on Austin auto insurance rates
Auto insurance companies that sell policies for retired military may additionally offer discounts that could reduce prices by 40% or more if you meet the requirements. A few popular companies and some of the discounts are included below.
- Farm Bureau policyholders can earn discounts including renewal discount, 55 and retired, driver training, multi-policy, and multi-vehicle.
- MetLife has discounts for multi-policy, good student, claim-free, good driver, and defensive driver.
- Progressive may offer discounts for multi-policy, homeowner, good student, multi-vehicle, continuous coverage, and online quote discount.
- AAA discounts include anti-theft, pay-in-full, multi-car, multi-policy, and good student.
- American Family includes discounts for multi-vehicle, defensive driver, good student, Steer into Savings, and air bags.
- GEICO offers premium reductions for daytime running lights, driver training, anti-theft, multi-policy, multi-vehicle, anti-lock brakes, and emergency military deployment.
- State Farm may have discounts that include good student, multiple autos, passive restraint, Drive Safe & Save, safe vehicle, and accident-free.
The illustration below shows the difference between premium costs with and without discounts being applied to the rates. The premium estimates are based on a male driver, no violations or claims, Texas state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with claim-free, vehicle safety, defensive driving course, multiple vehicle, marriage, and anti-theft discounts applied. When drivers take advantage of discounts, the average amount saved each year on car insurance for retired military is 28% or $445.
Ending up with a good quality car insurance company is difficult considering how many companies are available to choose from in Austin. The ranking data shown below can help you analyze which providers you want to consider when trying to find cheaper insurance for retired military.
These rankings are only made up of large, nationwide insurance companies, so companies that focus mainly on Texas business are not taken into consideration for the list. If you’d like to compare prices and find the cheapest rates for retired military, click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
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Data Source: Insure.com Best Car Insurance Companies
Shop around and save
Texas car insurance rates are influenced by many factors which can substantially change the price of coverage. Turning one year older, buying a home instead of renting, or getting a DUI can trigger changes in premium resulting in some companies being more affordable than before.
Not only may your risk profile change, but auto insurance companies file new Texas auto insurance rates without warning in order to maintain liquidity for claims. Significantly higher losses can cause increased rates, while profitable underwriting can cause cheaper Austin car insurance rates.
For example, the graph below analyzes the cheapest car insurance in Austin, TX for a 45-year-old female driver with no prior claims, no tickets, and a good credit rating. When comparing rates based on her current risk profile, Travelers has the lowest car insurance rates in Austin at $1,118 per year. This is $786 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also on the list of the most affordable Austin, TX auto insurance companies.
Now we will pretend the driver in the first example a chargeable accident, a lower credit rating, and a blemish on her driving record. Since every insurance provider has a different formula for establishing rates, comparing rates will most likely result in a substantially altered list of cheap Austin auto insurance companies as shown below.
Mercury now has the best car insurance rate in Austin, TX with State Farm, Nationwide, Safe Auto, and USAA also having competitive pricing. This example shows why drivers need to perform an extensive rate comparison when trying to find the most affordable insurance rates for retired military.
Car insurance prices can be altered by many things and change dramatically, so the cheapest company three years ago may now be one of the more expensive options.