The words “low-cost” and “insurance” probably shouldn’t be used in the same sentence, specifically when you are searching for the best car insurance rates for retired military. Because it’s so expensive, let’s go over some of the things that determine car insurance prices, and find out if we can help you cut the cost of your next policy.
Comparing quotes for reasonably-priced auto insurance is confusing at best, and determining which company has the most affordable car insurance rates for retired military calls for even more perseverance.
Each company has a unique approach for filing rates in each state, so we need to take a look at the car insurance companies that tend to have lower prices in Plano, TX. It’s important to understand that Plano, TX car insurance rates are calculated based on many things that control the policy price. Improving your credit score, buying a home instead of renting, or getting a ticket for careless driving can trigger price changes that can now make some companies more affordable than competitors.
Best Auto Insurance Prices for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,084 |
| 3 | Texas Farm Bureau | $1,235 |
| 4 | Germania Mutual | $1,294 |
| 5 | California Casualty | $1,382 |
| 6 | Esurance | $1,421 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,461 |
| 9 | Nationwide | $1,553 |
| 10 | Safe Auto | $1,613 |
| 11 | Progressive | $1,647 |
| 12 | Allstate | $1,650 |
| 13 | Amica | $1,775 |
| 14 | Home State | $2,092 |
| 15 | GEICO | $2,156 |
| 16 | Encompass | $2,232 |
| 17 | MetLife | $2,249 |
| 18 | Unitrin | $2,310 |
| 19 | 21st Century | $2,421 |
| 20 | Titan | $2,594 |
| Find Cheaper Rates Go | ||
Travelers normally has some of the most affordable car insurance rates in Plano at around $1,010 each year. This is $894 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty would also be considered some of the best Plano, TX car insurance companies.
As shown above, if you currently buy coverage from Germania Mutual and switched to USAA, you could see savings of in the vicinity of $210. Policyholders with California Casualty may save as much as $298 a year, and Esurance customers might reduce prices by as much as $337 a year.
Be aware that those policy prices are averages for all types of drivers and the different vehicles they drive and do not take into consideration a specific zip code for retired military. So the car insurance company that can offer the best rates for your situation may not even be in the top 23 companies shown above. That point stresses why you need to compare rates from as many companies as possible using your own individual information.
The vehicle that needs insurance is probably the biggest factor in finding the cheapest car insurance for retired military. Vehicles with economical engines, an excellent safety record, or a track record of few liability claims will cost quite a bit less to insure than higher performance models. The data below shows auto insurance rates for a selection of the most cost-effective vehicles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $943 |
| Ford Edge SE 2WD | $1,015 |
| Toyota Tacoma 2WD | $1,072 |
| Toyota RAV4 2WD | $1,094 |
| Honda CR-V EX-L 2WD | $1,161 |
| Kia Optima LX | $1,174 |
| Ford Focus SES 2-Dr Coupe | $1,231 |
| Honda Accord EX-L 4-Dr Sedan | $1,233 |
| Toyota Camry Hybrid | $1,253 |
| Toyota Camry LE | $1,255 |
| Nissan Altima 2.5 4-Dr Sedan | $1,265 |
| Toyota Prius | $1,259 |
| Ford F-150 XLT Super Cab 2WD | $1,273 |
| Ford Explorer Eddie Bauer 2WD | $1,282 |
| Honda Civic EX 4-Dr Sedan | $1,297 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $1,301 |
| Chevrolet Impala LTZ | $1,321 |
| Find Cheaper Rates Go | |
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Rate information does not factor in vehicle location which can alter prices substantially.
Looking at the numbers, we can conclude that makes and models like the Ford Escape, Ford Edge, Toyota Tacoma, and Toyota RAV4 will definitely be a few of the cheapest vehicles to insure for veterans.
Irresponsible driving raises your rates
The easiest way to maintain the cheapest car insurance premiums for veterans is to drive cautiously and not get tickets or have accidents. The chart below illustrates how speeding tickets and at-fault claims can raise car insurance rates for different ages of insureds. The prices are based on a single female driver, full coverage, $1,000 deductibles, and no discounts are factored in.
In the previous example, the average cost of a car insurance policy per year with no accidents and a clean driving record is $2,034. Add in one speeding ticket and the average cost swells to $2,309, an increase of $276 each year. Now include one accident along with the one speeding ticket and the 12-month cost of car insurance for retired military increases to an average of $3,077. That’s an increase of $1,043, or $87 per month, just for not paying attention while driving!
The example below highlights how deductible selection can increase or decrease insurance costs when trying to find cheap insurance for retired military. The prices are based on a single female driver, full coverage, and no discounts are applied to the premium.
The data above shows that a 50-year-old driver could pocket $302 a year by increasing from a $100 deductible up to a $500 deductible, or save $456 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, could lower their rates up to $766 or even more just by choosing higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it’s a good idea to have plenty of discretionary funds to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Ratings for Texas car insurance companies
Ending up with a good quality car insurance company is hard considering how many companies provide coverage in Texas. The ranking information listed below can help you decide which car insurance providers you want to consider putting your business with.
These ratings only include major nationwide insurance companies, so smaller regional companies are not included in these rankings. To get rate quotes from these and other top-rated companies, just click here.
Top 10 Large Auto Insurance Providers in Plano Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%