Wouldn’t it be great if we knew the one company that has the cheapest policy rates for retired military? Unfortunately, it’s just not that easy, as there are many unknown factors such as how old you are, the vehicle you are insuring, whether you want full coverage, and whether you are male or female, that all help calculate your car insurance rates. We will touch on the things that influence insurance rates and educate you enough to have a good start in finding the cheapest car insurance in California.
Deciphering which companies quote the best car insurance rates for retired military takes a tad more effort than just comparing a company or two. Every insurance company has a proprietary formula to establish rates, so let’s take a look at the most affordable car insurance companies in California.
It’s a good idea to know that California car insurance rates are impacted by many factors which can significantly increase or decrease the cost of your policy. Simply having another birthday, having a teenage driver, or getting caught speeding may cause policy rate changes that may make certain companies cheaper in comparison to the competition.
Find the Best Cheap Insurance for Vets
USAA generally has some of the lowest car insurance rates in Chula Vista at around $1,155 each year. Wawanesa, Century National, CSAA, and Nationwide also make the cut as some of the cheapest Chula Vista, CA insurance companies.
In the above rates, if you are a customer of CSAA and switched to Wawanesa, you may see an annual premium reduction of roughly $41. Drivers with Nationwide may save as much as $82 a year, and 21st Century insureds might lower prices by up to $144 a year.
It’s important to note that these rates are averages for all insureds and vehicles and are not factoring in an exact zip code location for retired military. So the car insurance company that is most affordable for your situation may not even be in the top 24 companies in the list above. That underscores the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
The vehicle requiring coverage is one of the primary factors when shopping around for the lowest-priced car insurance for retired military. Vehicles with average performance, a great safety record, or a track record of few liability claims will cost much less to insure than fast, unsafe models.
The next list presents car insurance premiums for a handful of the most cost-effective vehicles to insure in California.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 4WD | $856 |
| Toyota Prius | $872 |
| Honda CR-V EX-L 2WD | $880 |
| Ford Explorer Eddie Bauer 2WD | $884 |
| Chevrolet Impala LT | $934 |
| Toyota RAV4 Limited 2WD | $940 |
| Ford Edge SE 2WD | $944 |
| Hyundai Elantra SE Touring Station Wagon | $962 |
| Dodge Grand Caravan SE | $964 |
| Toyota Tacoma X-Runner 2WD | $984 |
| Toyota Corolla XRS | $1,000 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,002 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,020 |
| Ford F-150 Lariat Crew Cab 2WD | $1,040 |
| Chevrolet Malibu Hybrid | $1,052 |
| Chevrolet Equinox LT 2WD | $1,061 |
| Nissan Altima 2.5 4-Dr Sedan | $1,052 |
| GMC Sierra SLE Crew Cab 2WD | $1,058 |
| Jeep Grand Cherokee Laredo 4WD | $1,052 |
| Toyota Camry Hybrid | $1,066 |
| Honda Accord EX-L 2-Dr Coupe | $1,074 |
| Chevrolet Silverado LTZ Extended Cab 2WD | $1,066 |
| Toyota Camry XLE | $1,076 |
| Compare Rates Now Go | |
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium costs do not factor in vehicle location which can increase or decrease coverage prices significantly.
Based upon the rates shown, you can figure that vehicles like the Ford Escape, Toyota Prius, Honda CR-V, and Ford Explorer are most likely going to be a few of the less-costly vehicles to insure for veterans.
Does it make sense to buy full coverage?
Paying less for car insurance should be important to most drivers, and a good way to pay lower rates for insurance for retired military is to not buy full coverage. The example below illustrates the difference between insurance costs with and without full coverage. The rates are based on a clean driving record, no at-fault accidents, $500 deductibles, single marital status, and no other discounts are factored in.
Averaged for all age groups, physical damage insurance costs $2,075 per year over and above liability coverage. That is a big expense that brings up the question when is the right time to remove full coverage. There isn’t a steadfast formula for excluding physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $5,500 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,500 after paying the physical damage deductible. If it’s costing you more than $450 a year to have full coverage, then it could be time to drop full coverage.
Discount Chula Vista insurance
Insurance providers that provide policies for retired military may have policy discounts that could lower prices by 40% or more if you meet certain criteria. A few popular companies and some of the premium reductions they offer include:
- GEICO policyholders can earn discounts including daytime running lights, air bags, driver training, federal employee, multi-policy, five-year accident-free, and anti-theft.
- MetLife has savings for good student, accident-free, good driver, claim-free, defensive driver, and multi-policy.
- State Farm discounts include student away at school, multiple autos, Drive Safe & Save, defensive driving training, multiple policy, Steer Clear safe driver discount, and accident-free.
- Progressive has discounts for continuous coverage, online quote discount, online signing, multi-policy, multi-vehicle, homeowner, and good student.
- Mercury Insurance offers discounts for multi-car, location of vehicle, professional/association, annual mileage, good driver, anti-theft, and type of vehicle.
- 21st Century may include discounts for good student, automatic seat belts, driver training, defensive driver, 55 and older, theft prevention, and air bags.
- Allstate offers discounts including multi-policy, farm vehicle, economy car, premier discount, and 55 and retired.
The information below visualizes the comparison of insurance prices with and without discounts applied to the rates. The rate quotes are based on a female driver, no accidents, no driving violations, California state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with anti-theft, vehicle safety, safe-driver, accident-free, claim-free, and multiple policy discounts applied. When these discounts are applied, the average savings per year on car insurance for retired military is 28% or $599.
Last year’s bargain might be this year’s rip off
Chula Vista car insurance rates are impacted by many things that can increase the cost of having a policy. Improving your credit score, becoming a homeowner, or getting a few speeding tickets can trigger rate changes that can now make some companies cheaper than before. Also, insurers change premium rates as needed in order to remain profitable. Significantly higher losses can cause more expensive prices, while a better loss history may produce more affordable Chula Vista car insurance rates.
The bar chart below compares the cheapest car insurance in Chula Vista, CA for a 45-year-old male driver with no accidents or violations, and a good credit rating. If we look at prices based on his personal risk profile, USAA may have the most affordable car insurance rates in Chula Vista at $1,143 per year. This is $508 less than the average rate paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide also make the list of the cheapest Chula Vista, CA auto insurance companies.
Now let’s give the driver from the first set of rates a claim surcharge, a lower credit score, and a traffic citation. Due to the fact that every insurance company uses their own formula for determining rates, comparing insurance quotes may now present a substantially altered list of the cheapest Chula Vista car insurance companies as shown below.
Grange now has the lowest price on auto insurance in Chula Vista with Progressive, Allstate, GEICO, and Mercury now being in the top five. This shows why consumers need to do a thorough rate comparison when trying to get the best auto insurance rates for retired military.
Prices are made up of many factors and can change without notice, so the best company the last time you checked may now be wasting a lot of money.