The words “low-cost” and “insurance” probably shouldn’t be used together, specifically when you are looking for the lowest insurance prices for retired military. To help control this cost, let’s lead off by showing you some situations that have an effect on insurance prices, and find a way to take the bite out of the next policy you buy.
The type of vehicle driven is one of the largest factors that determines whether or not you find cheaper car insurance for retired military. Vehicles with limited top-end speed, a great safety record, or a track record of few liability claims will cost less to insure than higher performance models. The next list estimates insurance rates for the most cost-effective automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,255 |
| Hyundai Elantra GLS Touring Station Wagon | $1,265 |
| Honda Accord LX-P 4-Dr Sedan | $1,417 |
| Honda Odyssey EX | $1,455 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,503 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,513 |
| Toyota Prius | $1,528 |
| Ford Escape Limited 4WD | $1,533 |
| Chevrolet Equinox LTZ 2WD | $1,594 |
| Volkswagen Jetta 2.0T Station Wagon | $1,616 |
| Dodge Ram Crew Cab TRX 2WD | $1,621 |
| Chevrolet Malibu Hybrid | $1,626 |
| GMC Sierra SLE Crew Cab 2WD | $1,635 |
| Toyota RAV4 4WD | $1,626 |
| Ford F-150 STX Super Cab 4WD | $1,634 |
| Chevrolet Impala LS | $1,637 |
| Ford Edge SE AWD | $1,644 |
| Find Cheaper Rates Go | |
Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rate information does not factor in garaging location in Columbus, OH which can change prices greatly.
Based upon the table data, you can presume that models like the Honda CR-V, Hyundai Elantra, and Honda Accord are likely to be a few of the more affordable vehicles to insure for veterans.
For veterans, one of the more important considerations that determine the cost of insurance is where your residence is. Larger areas are more likely to have higher rates, whereas areas with less congestion have the enjoyment of a little cheaper coverage.
The following table lists the most expensive places in Ohio for retired military to purchase a policy in. Columbus is ranked at #4 with a yearly premium of $1,211 for the average policy, which is about $101 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Cleveland | $1,259 |
| 2 | Youngstown | $1,247 |
| 3 | Toledo | $1,229 |
| 4 | Columbus | $1,211 |
| 5 | Cleveland Heights | $1,178 |
| 6 | Euclid | $1,175 |
| 7 | Cincinnati | $1,174 |
| 8 | Akron | $1,157 |
| 9 | Hamilton | $1,135 |
| 10 | Dayton | $1,120 |
| 11 | Springfield | $1,105 |
| 12 | Fairfield | $1,095 |
| 13 | Newark | $1,095 |
| 14 | Middletown | $1,066 |
| 15 | Canton | $1,058 |
| 16 | Beavercreek | $1,058 |
| 17 | Kettering | $1,040 |
| 18 | Lakewood | $1,031 |
| 19 | Mansfield | $1,022 |
| 20 | Lorain | $1,015 |
| 21 | Strongsville | $1,011 |
| 22 | Cuyahoga Falls | $1,007 |
| 23 | Parma | $1,007 |
| 24 | Mentor | $978 |
| 25 | Elyria | $965 |
| Quote Best Rates Go | ||
Table data uses estimated as the specific geographic location can change rates substantially.
Discount Columbus insurance rates
Car insurance companies that offer coverage for retired military may additionally offer price discounts that could lower prices by 35% or more if you meet specific eligibility requirements. A few of the larger companies and their possible discounts include:
- American Family has savings for multi-vehicle, good driver, early bird, bundled insurance, mySafetyValet, and accident-free.
- Nationwide policyholders can earn discounts including good student, accident-free, business or organization, multi-policy, Farm Bureau membership, and defensive driving.
- MetLife may have discounts that include defensive driver, good driver, multi-policy, accident-free, claim-free, and good student.
- 21st Century offers discounts for early bird, defensive driver, student driver, anti-lock brakes, driver training, theft prevention, and automatic seat belts.
- Farmers Insurance may include discounts for good student, early shopping, youthful driver, electronic funds transfer, homeowner, pay in full, and bundle discounts.
- Allstate offers premium reductions for premier discount, FullPay discount, passive restraint, farm vehicle, teenSMART discount, anti-theft, and auto/life discount.
The example below illustrates the comparison of insurance costs with and without discounts applied to the premium. The rate quotes are based on a male driver, no claims or violations, Ohio state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with safe-driver, marriage, passive restraint, multiple vehicle, vehicle safety, and anti-theft discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for retired military is 27% or $358.
Choosing the top auto insurance provider can be difficult considering how many companies are available to choose from in Ohio. The information listed below could help you analyze which companies you want to consider putting your business with.
The rankings below include companies with a national presence, so smaller companies are not factored into these rankings. To view rates from these top insurers and more, follow this link.
Top 10 Large Car Insurance Companies in Columbus Ranked by A.M. Best Rating
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Top 10 Large Car Insurance Companies in Columbus Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- GEICO
- AAA Insurance
- Safeco Insurance
- Esurance
- The General
The information below shows how choosing a deductible can change insurance costs when researching cheap insurance for retired military. The data is based on a married male driver, full physical damage coverage, and no policy discounts are applied.
The data above shows that a 50-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 choosing a $1,000 deductible. Younger drivers, like the 20-year-old category, could save $528 each year just by choosing higher deductibles.
If you do raise deductibles, it’s a good idea to have enough in a savings account to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
How to find budget-friendly auto insurance for retired military
The list below details some of the better thrifty ideas that can help drivers locate more affordable coverage.
- Full coverage is expensive so only insure older vehicles for liability only
- Drivers with good credit ratings often pay less
- Do not get into accidents that are your fault
- Buying home and auto insurance together can earn discounts
- Lower rates by purchasing a safer vehicle
- Compare rates often to find the best deal
The last tip in the list is extremely vital, as we noted in the prior information. Car insurance rates fluctuate considerably, so don’t be tentative to buy a different policy if a cheaper price is available.
Brand loyalty is not necessarily bad, but it isn’t a good idea if that stubbornness costs you potentially thousands of dollars a year. If you have a few minutes, now is a great time to compare prices to find cheaper auto insurance for retired military in Columbus.
The insurance agencies listed below are willing to help you make a decision which policy is best, as some people prefer to get some professional input when comparing insurance rates for retired military. It can be difficult to do it yourself, so getting advice from a licensed agent can bring peace of mind knowing your policy gives you adequate asset protection. To locate a Columbus insurance agent using an interactive map, click the button at the bottom.
- Keystone Insurance Agency LLC
5640 Groveport Rd #2 – Groveport, OH 43125 – (614) 295-8816 - Nikki Ogunduyile – State Farm Insurance Agent
20 S 3rd St #210 – Columbus, OH 43215 – (614) 274-7130 - American Family Insurance – Felix Quachey
1100 Morse Rd Ste 301 – Columbus, OH 43229 – (614) 536-0237