For veterans, one of the largest criteria that determine the cost of insurance is where you keep your vehicle. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.
The next table rates the priciest cities in Ohio for veterans to buy an auto insurance policy in. Columbus shows up at #4 with the annual price of $1,235 for the average policyholder, which is approximately $103 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Youngstown | $1,273 |
| 2 | Toledo | $1,267 |
| 3 | Cleveland | $1,235 |
| 4 | Columbus | $1,235 |
| 5 | Cincinnati | $1,186 |
| 6 | Cleveland Heights | $1,166 |
| 7 | Dayton | $1,154 |
| 8 | Akron | $1,135 |
| 9 | Euclid | $1,129 |
| 10 | Hamilton | $1,113 |
| 11 | Springfield | $1,094 |
| 12 | Canton | $1,091 |
| 13 | Newark | $1,085 |
| 14 | Lakewood | $1,063 |
| 15 | Fairfield | $1,053 |
| 16 | Beavercreek | $1,047 |
| 17 | Parma | $1,027 |
| 18 | Cuyahoga Falls | $1,027 |
| 19 | Middletown | $1,024 |
| 20 | Kettering | $1,020 |
| 21 | Mentor | $1,018 |
| 22 | Strongsville | $1,011 |
| 23 | Lorain | $1,005 |
| 24 | Mansfield | $1,002 |
| 25 | Elyria | $975 |
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Premium amounts are approximated as the specific Columbus residence address can increase or decrease insurance rates greatly.
The type of vehicle that needs insurance is probably the most important factor when consumers are trying to find the most affordable auto insurance for veterans. Vehicles with limited speed and performance, a great safety record, or a low likelihood of liability claims will cost less to insure than fast, unsafe models.
The table below showcases insurance premiums for a selection of the more affordable automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $1,255 |
| Hyundai Elantra GLS Touring Station Wagon | $1,264 |
| Ford Escape Limited 4WD | $1,366 |
| Ford Explorer Eddie Bauer 2WD | $1,404 |
| Honda CR-V EX-L 4WD | $1,455 |
| Chevrolet Silverado LS Extended Cab 4WD | $1,485 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,495 |
| Honda Odyssey LX | $1,503 |
| Dodge Grand Caravan SXT | $1,513 |
| Ford F-150 XL Crew Cab 2WD | $1,536 |
| Chevrolet Impala LTZ | $1,566 |
| Toyota Camry SE | $1,575 |
| Toyota Prius | $1,571 |
| Nissan Rogue S 2WD | $1,594 |
| GMC Sierra SLT Extended Cab 2WD | $1,602 |
| Jeep Grand Cherokee Limited 4WD | $1,594 |
| Dodge Ram Crew Cab ST 4WD | $1,621 |
| Toyota RAV4 4WD | $1,626 |
| Ford Focus SE 4-Dr Sedan | $1,637 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $1,639 |
| Chevrolet Malibu LS | $1,674 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,712 |
| Kia Optima LX | $1,743 |
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Price estimates do not factor in Columbus, OH location which can revise premiums greatly.
Based upon these rates, you can see that makes and models like the Honda Accord, Hyundai Elantra, and Ford Escape should be some of the cheaper vehicles to insure for veterans.
Finding out which company quotes the cheapest insurance rates for veterans requires more time than just getting one or two price quotes. Each auto insurance company has a unique approach to set premium rates, so let’s take a look at the insurance companies with the overall cheapest rates in Columbus, OH.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $687 |
| 3 | Allied | $697 |
| 4 | Frankenmuth | $701 |
| 5 | Travelers | $712 |
| 6 | USAA | $741 |
| 7 | Cincinnati Insurance | $756 |
| 8 | Merchants Insurance Group | $771 |
| 9 | Motorists Mutual | $792 |
| 10 | Grange Mutual | $836 |
| 11 | General Casualty | $837 |
| 12 | Central Mutual | $840 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $893 |
| 15 | Westfield | $908 |
| 16 | Atlantic States | $913 |
| 17 | Western Reserve | $932 |
| 18 | Progressive | $962 |
| 19 | Auto-Owners | $988 |
| 20 | Nationwide | $1,018 |
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Utica National generally has some of the most affordable car insurance rates in Columbus at around $647 per year. Erie, Allied, Frankenmuth, and Travelers also rank well as some of the cheaper Columbus, OH car insurance companies.
As shown in the rates above, if you buy coverage from Frankenmuth and switched to Utica National, you might see a yearly savings of roughly $54. Policyholders with Travelers might save as much as $65 a year, and USAA customers might lower prices by $94 a year.
Bear in mind that those policy prices are averages for all types of insureds and vehicles and do not take into consideration an exact vehicle garaging location for veterans. So the car insurance company that has the cheapest price for you may not even be in the top 33 companies shown above. That’s why you need to get rate quotes using your own individual information.
The illustration below highlights how deductible choice can influence insurance prices when trying to find cheap insurance for veterans. The prices are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
In the chart above, a 40-year-old driver could reduce rates by $252 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $380 by using a $1,000 deductible. Youthful drivers, like the 20-year-old example, could reduce their rates $842 or more just by choosing larger deductibles. If you do decide to increase your deductibles, it is a good idea to have enough savings to enable you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Price comparison of only insuring for liability
Saving money on insurance is important to most drivers, and an effective way to buy cheap insurance for veterans is to not buy comprehensive and collision coverage. The chart below shows the difference between car insurance costs with full physical damage coverage compared to only buying liability only. The premiums are based on no violations or claims, $100 deductibles, single status, and no policy discounts are applied.
If we average all the age groups together, physical damage coverage on your policy costs $1,308 per year more than just buying liability insurance. At some point, every insured wonders if it’s a good idea to buy full coverage. There is no set guideline of when to exclude comp and collision coverage, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s say your vehicle’s settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $8,000 after the deductible is paid. If you are paying more than $800 annually for full coverage, then it may be the right time to buy liability only.
There are a few situations where buying only liability insurance is not advised. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
The benefit of shopping around
Columbus, OH insurance rates are impacted by many things which can significantly increase or decrease the cost of your policy. Improving your credit score, buying a home instead of renting, or having an at-fault accident can produce rate changes resulting in some companies being more affordable than before. Not only that, but insurers change their prices multiple times each year in order to protect their financial rating. Significantly higher losses may cause higher priced premiums, while lower claims may cause cheaper Columbus car insurance rates.
To help illustrate this point, the chart below analyzes the cheapest car insurance in Columbus, OH for a 40-year-old male driver with a clean driving record, no accidents, and good financial standing. Based on his current rating profile, Utica National might offer the lowest car insurance rates in Columbus at $818 annually. This is $222 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and USAA are also on the list of the most affordable Columbus, OH auto insurance companies.
Now we will pretend the driver in the first chart an accident surcharge, a little lower credit rating, and a traffic citation. Because each company uses their own method for determining prices, analyzing rate quotes may result in a different list of cheap Columbus auto insurance companies as shown below.
Merchants Insurance Group now has the cheapest rate in Columbus with Cincinnati Insurance, General Casualty, Grange Mutual, and Motorists Mutual now rounding out the top five. This demonstrates why it is so important to spend some time comparing rates to get the cheapest insurance rates for veterans. Rates are determined by many different factors and can increase or decrease at any time, so the most affordable company two years ago may now be wasting a lot of money.
How to find budget-friendly insurance for veterans
The list below details a few penny-pinching suggestions that can help Columbus drivers find more affordable coverage.
- Full coverage is expensive so only insure older vehicles for liability only
- Clean up your credit rating
- Buy a car with high safety ratings
- Maintain a safe distance and avoid accidents
- Multi-policy discounts save money
- Compare rates once a year for cheaper prices
That last idea is remarkably significant, as was affirmed in the prior information. Prices charged by car insurance companies go up and down frequently, so don’t be unwilling to change to a new company if you find a better deal. Brand loyalty is not necessarily bad, but is isn’t recommended if that devotion results in you overpaying hundreds of dollars year after year. Spend a few minutes and compare prices to find cheaper auto insurance for veterans in Columbus.
If you aren’t sure which coverage to buy and prefer to have some advice when trying to find the best insurance rates for veterans, the agents below can provide answers to your questions and help you determine which auto insurance policy fits you best. To locate an agency by location nearest to you, click the button at the bottom or click here to compare price quotes.
- John Dawson Associates
6025 Cleveland Ave – Columbus, OH 43231 – (614) 890-1660 - Augustine Insurance Agency
3851 N High St – Columbus, OH 43214 – (614) 267-1973 - Associated Insurance Agency – Pickerington
12927 Stonecreek Dr – Pickerington, OH 43147 – (614) 866-6060 - American Family Insurance – Patricia Dews
114 Norton Rd – Columbus, OH 43228 – (614) 878-9720