The words “low-cost” and “auto insurance” really don’t belong together, specifically when looking for the lowest insurance prices for retired military. Because it’s not cheap, let’s open your eyes to some situations that significantly impact auto insurance prices, and figure out some ways to reduce the price of the next policy you buy.
Deciding which company quotes the best insurance rates for retired military will involve a bit more work than just picking a company at random. Each insurer uses their own formula to set policy rates, so let’s take a look at the overall cheapest insurance companies in Raleigh.
It’s important to understand that Raleigh, NC insurance rates are impacted by many factors which can significantly increase or decrease the cost of coverage. Simply turning a year older, filing a claim, or getting a couple of tickets can trigger changes in premium that can make some companies more affordable than competitors.
Lowest Insurance Price Quotes for Vets
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Progressive may have some of the best car insurance rates in Raleigh at around $658 annually. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau also rank well as some of the more affordable Raleigh, NC insurance companies.
As shown in the rates above, if you currently buy coverage from Liberty Mutual and switched to Progressive, you might see annual savings of upwards of $63. Policyholders with GEICO may save as much as $70 a year, and NC Farm Bureau policyholders might lower prices by up to $72 a year.
If you would like to find cheaper car insurance rates, click here to start your custom quote or visit any of the low-priced companies below.
Remember that these prices are averages across all drivers and vehicles in North Carolina and do not factor in an exact vehicle garaging location for retired military. So the company that fits your age and vehicle best may not even be in the top 20 companies shown above. That illustrates why you need to get car insurance quotes using your own driver information and specific vehicle type.
The vehicle you are trying to insure is a large consideration when shopping for the most economical auto insurance for retired military. Vehicles with average performance, good crash test ratings, or a positive history of liability claims will cost much less to insure than adrenaline junky models.
The next table ranks coverage prices for some of the cheapest automobiles to insure in North Carolina.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $982 |
| Ford Escape Limited 2WD | $1,004 |
| Honda Accord LX 4-Dr Sedan | $1,071 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,075 |
| Ford Edge SE AWD | $1,138 |
| Toyota RAV4 Sport 4WD | $1,160 |
| Chevrolet Equinox LS 2WD | $1,165 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,160 |
| Ford F-150 FX2 2WD | $1,180 |
| Toyota Prius | $1,191 |
| Ford Focus SES 4-Dr Sedan | $1,200 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,223 |
| Toyota Camry XLE | $1,230 |
| Start a Quote Go | |
Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Price estimates do not factor in specific Raleigh, NC garaging location which can influence rates significantly.
Looking at the numbers, we can tell that vehicles like the Honda CR-V, Ford Escape, Honda Accord, Jeep Wrangler, and Ford Edge should be some of the less-costly vehicles to insure for veterans.
Discount Raleigh auto insurance rates
Insurance providers that sell policies for retired military may have price discounts that could potentially reduce rates by 40% or more if you meet eligibility requirements. A few of the larger companies and their offered discounts can be read below.
- Farm Bureau may include discounts for good student, multi-vehicle, youthful driver, driver training, safe driver, multi-policy, and renewal discount.
- MetLife may offer discounts for good driver, multi-policy, defensive driver, claim-free, good student, accident-free
- Progressive discounts include multi-vehicle, multi-policy, online signing, good student, continuous coverage, homeowner, and online quote discount.
- AAA includes discounts for AAA membership discount, education and occupation, good student, multi-car, and multi-policy.
- American Family policyholders can earn discounts including TimeAway discount, bundled insurance, good student, accident-free, early bird, defensive driver, and air bags.
- GEICO offers premium reductions for anti-lock brakes, anti-theft, military active duty, membership and employees, five-year accident-free, driver training, and multi-policy.
- State Farm may have discounts that include driver’s education, anti-theft, passive restraint, safe vehicle, and good student.
The example below illustrates the difference between insurance premiums with and without policy discounts. The premiums are based on a male driver, no claims, a clean driving record, North Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with homeowner, safe-driver, defensive driving course, anti-theft, passive restraint, and multiple policy discounts applied. In this example, theaverage amount saved on insurance for retired military is 28% or $396.
What is the best insurance company in North Carolina?
Buying coverage from the best car insurance company is difficult considering how many companies sell coverage in Raleigh. The company information below could help you analyze which providers you want to consider when shopping your coverage around.
The ratings below include insurance companies that insure vehicles in the majority of U.S. states, so companies without a large exposure are not factored into these rankings. To view rates and find cheaper insurance for retired military, simply click here.
Top 10 Large Auto Insurance Companies Overall in Raleigh
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
The importance of shopping around
Raleigh insurance rates are calculated based on many things that will increase or decrease the cost of your policy. Simply having a birthday, buying a different vehicle, or having an at-fault accident can trigger rate changes that may make certain companies more affordable than others.
Additionally, auto insurance companies file new North Carolina car insurance rates multiple times each year to adjust for gains or losses. Significantly higher claims may cause price increases, while lower claim expenses can cause cheaper Raleigh car insurance rates.
For instance, the graph below shows the company with the cheapest car insurance in Raleigh, NC for a 45-year-old male driver with no accidents, a clean driving record, and good credit. If we estimate prices based on his current situation, Progressive might quote the cheapest car insurance rates in Raleigh at $734 a year. This is $138 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National are the remaining best Raleigh, NC auto insurance companies.
The example below compares rates after we give the driver in the first example a couple of claims, a lower credit score, and a few blemishes on his driving record. Since each auto insurance company uses their own formula to determining premium rates, comparing prices will most likely result in a significantly different list of companies as shown below.
Titan now has the best price in Raleigh, NC with State Farm, Auto-Owners, Erie, and National General now rounding out the top five. This example illustrates why it is crucial to take the time to shop around when trying to get the best auto insurance quotes for retired military.
Insurance prices are impacted by many things and change frequently, so the lowest-price company two years ago may now be priced much higher than other options.
How to find low-cost car insurance for retired military
Here are many thrifty suggestions that can help you get cheap coverage.
- Safe vehicles cost less to insure
- If possible, do not file small claims
- Just one traffic violation will increase your rates
- Bundle car and home insurance and save money
- Being accident-free can lower rates significantly
- Shop your coverage around for the best deal
The last item on the list is especially critical, as we pointed out in the prior article. Prices charged by auto insurers in Raleigh can change in a short period of time, so don’t be tentative to buy a policy from a new company if a cheaper rate is available.
Many drivers prefer to stick with one company, but it isn’t a good idea if that loyalty ends up costing money that could be spent on other things. Spend a few minutes and compare prices and find cheaper auto insurance for retired military.