The words “low-priced” and “insurance” really don’t belong together, specifically when looking for the best car insurance rates for retired military. Let’s start off by going over some situations that have a considerable impact on insurance prices, and figure out some ideas to lower the cost of the next policy you buy.
The car, truck, or SUV you are buying coverage for is a large factor when looking for economical car insurance for retired military. Vehicles with lots of speed or power, poor safety ratings, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models.
The next table presents coverage prices for the most cost-effective vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,455 |
| Toyota Prius | $1,474 |
| Honda CR-V EX-L 2WD | $1,489 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,567 |
| GMC Sierra SLE Crew Cab 2WD | $1,572 |
| Toyota RAV4 Limited 2WD | $1,581 |
| Toyota Tacoma Double Cab 4WD | $1,572 |
| Ford Fusion S 4-Dr Sedan | $1,577 |
| Dodge Grand Caravan SXT | $1,604 |
| Ford Focus SES 4-Dr Sedan | $1,630 |
| Hyundai Elantra SE 4-Dr Sedan | $1,658 |
| Jeep Grand Cherokee SRT-8 4WD | $1,689 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,699 |
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Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Information does not factor in garaging location in Toledo, OH which can influence coverage rates substantially.
Based upon the table data, we can conclude that models like the Ford Escape, Toyota Prius, Honda CR-V, Jeep Wrangler, and GMC Sierra are most likely to be some of the less-costly vehicles to insure for veterans.
Trying to find budget insurance is not the easiest thing to do, and determining which company quotes the cheapest auto insurance rates for retired military may require more quotes for comparison. Every insurance provider has their own unique process for setting prices, so we need to take a look at the auto insurance companies with the overall cheapest rates in Toledo.
It’s a good idea to know that Toledo, OH auto insurance rates are determined by lots of factors that control the cost of a policy. This price variation is why Toledo drivers need to do a thorough rate comparison when trying to get the cheapest auto insurance rates for retired military. Insurance prices are made up of many risk factors and can change substantially, so the best company a year ago may now be quite expensive.
Find the Cheapest Auto Insurance for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $687 |
| 3 | Allied | $697 |
| 4 | Frankenmuth | $708 |
| 5 | Travelers | $712 |
| 6 | USAA | $741 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $771 |
| 9 | Motorists Mutual | $800 |
| 10 | General Casualty | $805 |
| 11 | Grange Mutual | $812 |
| 12 | Central Mutual | $848 |
| 13 | Hastings Mutual | $866 |
| 14 | State Farm | $867 |
| 15 | Westfield | $918 |
| 16 | Atlantic States | $940 |
| 17 | Western Reserve | $941 |
| 18 | Progressive | $982 |
| 19 | Auto-Owners | $998 |
| 20 | Farmers | $1,005 |
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Utica National normally has some of the lowest car insurance rates in Toledo at around $647 each year. This is $393 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers would also make the list of some of the cheapest Toledo, OH insurance companies.
As the example above demonstrates, if you are a customer of Allied and switched to Utica National, you may see annual savings of in the vicinity of $50. Policyholders with Frankenmuth could save as much as $61 a year, and Travelers policyholders might reduce rates by $65 a year.
If you would like to find cheaper car insurance rates, click here to get quotes or click several companies below for low rates.
Understand that those prices are averaged across all types of drivers and the different vehicles they drive and do not take into consideration an exact vehicle garaging location for retired military. So the company that fits your needs best may not even be in the list above. That underscores the importance of why you need to compare rates from multiple companies using your own driver data and vehicle information.
One of the more important criteria that aid in calculating the amount you pay for auto insurance is your address in Toledo. Cities with more crime and/or more people tend to pay more, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.
The table below sorts the priciest cities in Ohio for retired military in which to buy car insurance. Toledo shows up at #1 with the annual price of $1,279 for the average insured, which is around $107 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Toledo | $1,279 |
| 2 | Cleveland | $1,272 |
| 3 | Youngstown | $1,235 |
| 4 | Columbus | $1,235 |
| 5 | Cincinnati | $1,210 |
| 6 | Cleveland Heights | $1,202 |
| 7 | Akron | $1,157 |
| 8 | Euclid | $1,140 |
| 9 | Dayton | $1,120 |
| 10 | Hamilton | $1,113 |
| 11 | Lakewood | $1,073 |
| 12 | Newark | $1,063 |
| 13 | Springfield | $1,061 |
| 14 | Canton | $1,058 |
| 15 | Fairfield | $1,053 |
| 16 | Kettering | $1,040 |
| 17 | Strongsville | $1,031 |
| 18 | Middletown | $1,024 |
| 19 | Beavercreek | $1,016 |
| 20 | Cuyahoga Falls | $1,007 |
| 21 | Lorain | $1,005 |
| 22 | Parma | $997 |
| 23 | Mansfield | $992 |
| 24 | Mentor | $978 |
| 25 | Elyria | $965 |
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Rates are comparative as the specific geographic location can influence prices substantially.
The example below illustrates how your choice of deductibles can impact annual premium costs when quoting cheap insurance for retired military. The data is based on a married male driver, comp and collision included, and no additional discounts are factored in.
The data above shows that a 40-year-old driver could lower their policy premium by $158 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $240 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old example, can save as much as $528 annually just by choosing higher deductibles. If you make the decision to raise deductibles, it will now be necessary to have enough in a savings account to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Types of discounts on Toledo auto insurance
Auto insurance companies that offer quotes for retired military may additionally offer discounts that may potentially lower prices by as much as 35% if you are eligible to receive them. A few of the larger companies and their offered discounts can be found below.
- State Farm may have discounts that include safe vehicle, anti-theft, multiple autos, passive restraint, and multiple policy.
- GEICO has discounts for defensive driver, daytime running lights, anti-lock brakes, emergency military deployment, federal employee, and anti-theft.
- Progressive may include discounts for multi-policy, multi-vehicle, online quote discount, good student, continuous coverage, homeowner, and online signing.
- 21st Century discounts include automatic seat belts, anti-lock brakes, teen driver, homeowners, air bags, theft prevention, and early bird.
- American Family policyholders can earn discounts including air bags, good student, early bird, defensive driver, multi-vehicle, and bundled insurance.
- The Hartford offers discounts including driver training, good student, anti-theft, bundle, defensive driver, and vehicle fuel type.
- AAA offers premium reductions for pay-in-full, education and occupation, good student, anti-theft, multi-policy, and good driver.
The illustration below illustrates the difference between yearly insurance costs with and without discounts being applied to the rates. The prices are based on a male driver, no claims, a clean driving record, Ohio 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 shows the rates with homeowner, defensive driving course, multiple policy, claim-free, safe-driver, and anti-theft discounts applied. With discounts applied, theamount saved on auto insurance for retired military is 27% or $358.
Compare quotes and save
Toledo auto insurance rates are determined by lots of factors that may substantially change the price of coverage. Simply getting older, increasing liability limits, or having a fender bender may generate price changes that can cause some rates to be cheaper than others. In addition to those changes, auto insurance companies change premium rates without warning in order to be able to pay unexpected claims. Significantly higher claims can result in increased policy costs, while better underwriting may result in lower-cost Toledo car insurance rates.
The graph below analyzes the cheapest car insurance in Toledo, OH for a 30-year-old female driver with no prior claims, no tickets, and good credit. Based on her current rating profile, Utica National might quote the most affordable car insurance rates in Toledo at $816 per year. This is $224 less than the average policy premium paid by Ohio drivers of $1,040. Frankenmuth, Erie, Allied, and Travelers round out the rest of the cheapest Toledo, OH auto insurance companies.
In this example, we will give the driver in the first chart an accident claim, slightly worse credit, and a traffic citation. Due to the fact that every auto insurer uses a different method for setting prices, comparing rates could result in a different ranking of the cheapest Toledo car insurance companies as shown below.
Merchants Insurance Group now has the cheapest insurance rate in Toledo with Cincinnati Insurance, General Casualty, Motorists Mutual, and Grange Mutual also having competitive pricing. This shows why it is crucial to spend some time comparing rates when trying to find the best car insurance quotes for retired military. Car insurance prices are determined by many different factors and change frequently, so the most economical option three years ago may now be an over-priced policy.
How to find low-cost car insurance for retired military
Here are some thrifty suggestions that can help Toledo drivers buy cheaper coverage.
- Buy a car with high safety ratings
- Drop full coverage on older vehicles
- Bundle home and auto and earn a discount
- Good credit scores may lower your rates
- Frequent claims may make car insurance unaffordable
- Raise comprehensive and collision coverage deductibles
- Shop your coverage around for the best deal
The last suggestion is extremely valuable, as was affirmed in the prior information. Auto insurance prices adjust often, so you should be ready to switch companies if a better deal can be had. Having a favorite company is great, but we do not recommend it if that inflexibility results in costing you lots of money. It takes less than five minutes to compare prices to find cheaper auto insurance for retired military in Toledo.