The vehicle model to be insured is one of the largest factors that determines the availability of the best car insurance for retired military. Vehicles with limited speed and performance, advanced safety features, or a track record of few liability claims will cost much less to insure than fast, unsafe models. The next list presents coverage rates for a number of the cheaper vehicles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,163|
|Dodge Grand Caravan SE||$1,191|
|Ford Escape XLT 4WD||$1,233|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,245|
|Ford Fusion S 4-Dr Sedan||$1,259|
|Ford Focus SES 4-Dr Sedan||$1,300|
|Honda Odyssey EX-L||$1,326|
|Nissan Rogue S 2WD||$1,349|
|Chevrolet Malibu LTZ||$1,357|
|Toyota RAV4 Sport 4WD||$1,377|
|Chevrolet Impala LS||$1,384|
|Ford F-350 Super Cab Lariat 2WD||$1,395|
|Ford Explorer Limited 4WD||$1,402|
|Ford F-150 FX4 4WD||$1,412|
|Honda Accord EX 2-Dr Coupe||$1,416|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,424|
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Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Prices do not factor in zip code location which can lower or raise premium rates considerably.
By looking at the data, models like the Honda CR-V, Dodge Grand Caravan, Ford Escape, Volkswagen Jetta, and Ford Fusion are most likely going to be a few of the most economical vehicles to insure for veterans.
For veterans, one of the more important things that are looked at to determine the annual cost of car insurance is where you keep your vehicle. Areas with high crime rates or more dense population are more likely to pay higher prices, whereas more rural areas have the benefit of cheaper car insurance.
The following table shows the most expensive places in Oklahoma for retired military to purchase auto insurance in. Oklahoma City comes in at #10 costing $2,134 for the average insured, which is about $178 each month.
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Premium amounts are comparative as the specific garaging location can alter coverage rates greatly.
Finding good, low-cost car insurance is not easy, and figuring out which company quotes the most affordable car insurance rates for retired military takes even more work. Each insurer uses different criteria for establishing rates, so let’s begin by examining the most competitive car insurance companies in Oklahoma.
Lowest Insurance Price Quotes for Vets
|Rank||Company||Cost Per Year|
|2||Oklahoma Farmers Union||$1,202|
|10||OK Farm Bureau||$2,018|
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USAA normally has some of the cheapest car insurance rates in Oklahoma City at around $1,161 annually. This is $806 less than the average premium paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, Safe Auto, and GEICO also make the cut as some of the lowest-priced Oklahoma City, OK auto insurance companies.
As depicted above, if you have coverage with Oklahoma Farmers Union and switched to USAA, you could earn savings of about $41. Policyholders with The Hartford might save as much as $172 a year, and Safe Auto customers might see rate reductions of $202 a year.
It’s important to note that these policy rates are averaged for all types of insureds and vehicles and do not take into consideration a vehicle location for retired military. So the insurer that fits your needs best may not even be in the top 17 companies in the list above. That helps illustrate why you need to compare as many prices as possible using your own individual information.
Types of discounts on Oklahoma City car insurance
Insurers that offer coverage for retired military may also give you policy discounts that can reduce rates by as much as 35% if you are eligible for them. Popular car insurance companies and a partial list of their discounts can be found below.
- Farm Bureau has discounts for multi-policy, driver training, multi-vehicle, youthful driver, renewal discount, and good student.
- Liberty Mutual policyholders can earn discounts including hybrid vehicle, preferred payment discount, new graduate, multi-policy, and newly married.
- State Farm discounts include multiple autos, good student, student away at school, safe vehicle, and passive restraint.
- Auto-Owners Insurance offers discounts including anti-theft, multi-policy, air bags, company car, group or association, teen driver, and safe driver.
- GEICO may have discounts that include seat belt use, defensive driver, emergency military deployment, air bags, five-year accident-free, and anti-theft.
- SAFECO offers discounts for teen safety rewards, homeowner, safe driver, accident prevention training, teen safe driver, anti-lock brakes, and drive less.
The illustration below illustrates the comparison of car insurance costs with and without policy discounts. The data assumes a female driver, no accidents, no driving violations, Oklahoma state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple vehicle, vehicle safety, claim-free, anti-theft, marriage, and multiple policy discounts applied. In this example, theaverage amount saved on car insurance for retired military is 28% or $672.
How accidents and tickets impact rates
The obvious way to maintain affordable car insurance prices for veterans is to drive attentively and avoid traffic citations and accidents. The illustration below highlights how traffic violations and at-fault fender-benders can influence insurance prices for different categories of driver ages. The data assumes a married female driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
The chart shows that the average cost of an auto insurance policy per year with no accidents or violations is $2,192. Factor in one speeding ticket and the average cost surges to $2,558, an increase of $366 each year. Next add two accidents along with the one speeding ticket and the annual cost of car insurance for retired military goes up to an average of $5,832. That’s an increase of $3,640, or $303 per month, just for being a less-than-perfect driver!
Don’t stick with an overpriced policy
Oklahoma City, OK car insurance rates are based on many factors which can substantially decrease or increase the price you pay for coverage. Simply having a birthday, having a claim, or getting a reckless driving citation can trigger changes in premium that can now make some companies cheaper in comparison to the competition.
Additionally, car insurance companies change premium rates at least once a year in order to protect their financial rating. Larger than normal claims may cause increased rates, while lower claim levels may result in more affordable Oklahoma City car insurance rates.
The chart below compares the cheapest car insurance in Oklahoma City, OK for a 35-year-old male driver with a clean driving record, no accidents, and good credit. Based on his current risk profile, Oklahoma Farmers Union quotes the cheapest car insurance rates in Oklahoma City at $1,354 a year. This is $613 less than the average price paid by Oklahoma drivers of $1,967. USAA, GEICO, The Hartford, and Farmers are the remaining cheapest Oklahoma City, OK auto insurance companies.
Let’s now give the driver from above a claim or two, bad credit, and an imperfect driving record. Since each auto insurance company has a different formula to set policy rates, analyzing rate quotes may now show a substantially altered list of cheap Oklahoma City auto insurance companies as shown below.
State Farm now has the best car insurance rate in Oklahoma City with USAA, Travelers, Liberty Mutual, and GEICO also being competitive. This demonstrates why it is crucial to compare rates when trying to find the best car insurance rates for retired military. Rates consist of many factors and can decrease or increase without notice, so the best option the last time you shopped around may now be one of the more expensive options.
How to find the cheapest auto insurance for retired military
The list below shows a few thrifty suggestions that can help drivers buy cheap coverage.
- On older vehicles, drop full coverage
- Avoid at-fault accidents and claims
- Frequent claims will increase rates
- Avoid speeding and other traffic citations and pay less
- Higher physical damage deductibles lower rates
- Comparison shop at least once a year
The last tip in the list is incredibly important, as we pointed out in the article above. Car insurance prices can change in a short period of time, so don’t hesitate to change insurance companies if a cheaper rate is available. Many drivers have brand loyalty and that’s fine, but we do not recommend it if that stubbornness costs you a fortune every year. Now is a great time to compare rates to find cheaper car insurance for retired military in Oklahoma City.
The agencies below can most likely answer your questions and help you decide which auto insurance policy fits you best, since some drivers wish to have the advice of a professional agent when shopping for the best coverage for veterans. It can be time-consuming to find the cheapest auto insurance company, and insurance agents can give you comfort knowing your policy gives you adequate protection.
To locate an agency using an interactive map, click the button link following the list or click here to compare rates now.
Professional Insurors Agency, LLC
7301 Broadway Ext – Oklahoma City, OK 73116 – (405) 843-9191
5002 S Anderson Rd – Oklahoma City, OK 73150 – (405) 737-6231
Mai McCoy – State Farm Insurance Agent
2800 N Classen Blvd #105 – Oklahoma City, OK 73106 – (405) 524-3327