Cheapest Auto Insurance for Retired Military in New York

This article would sure be shorter if we could just give you the name of the one auto insurance company that has the most affordable coverage in New York. Regrettably, it’s not quite that easy, as there are a whole slew of unknowns like whether you are a woman or a man, whether you are married, and what coverage limits you want, that all impact the cost of your policy. We know insurance is not everyone’s favorite topic, but in this article we will cover these topics and will hopefully give you a jump start in finding the best auto insurance in New York.

Cost and performance of the vehicle requiring insurance is one of the largest considerations when shopping around for cheap auto insurance for retired military. Vehicles with high performance engines, a lack of advanced safety features, or a high likelihood of having liability claims will cost much more to insure than more modest models. The data below illustrates insurance rates for a handful of the cheapest vehicles to buy insurance for.

Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rates do not factor in zip code location which can influence prices noticeably.

Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rates do not factor in vehicle garaging location which can decrease or increase auto insurance rates considerably.

Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Price information does not factor in your specific New York location which can influence prices significantly.

One of the key things that insurance companies take into consideration when calculating the price of your policy is where you normally keep your vehicle in New York. More densely populated places like New York, Hempstead, and West Babylon tend to have higher auto insurance costs, whereas more rural areas have the benefit of cheaper auto insurance prices.

The information below shows the most expensive cities in New York for retired military in which to purchase auto insurance.

Information shown are estimated as vehicle location can alter coverage prices greatly.

Shopping around for low-cost insurance is not the easiest thing to do, and deciding which companies offer the best auto insurance rates for retired military calls for a bit more work.

Each auto insurer uses their own formula to set premium rates, so first we will examine the most budget-friendly auto insurance companies in New York. It’s a good idea to know that New York auto insurance rates are impacted by many things that control the price you pay for coverage. This price fluctuation is why it is critical to compare many different companies when trying to get the best auto insurance rates for retired military. Car insurance prices can be altered by many things and can increase or decrease at any time, so the cheapest rate when you bought your policy may now be one of the higher cost companies.

Best Cheap Insurance Rates for Vets

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USAA quotes some of the most affordable car insurance rates in New York at around $1,187 a year. Erie, Utica National, Allstate, and Progressive would also make the list of some of the cheaper New York insurance companies.

In this example, if you are a policyholder with Allstate and switched to Erie, you might achieve yearly savings of about $336. Policyholders with Progressive may save as much as $353 a year, and MetLife customers might cut rates by $367 a year.

Remember that these estimates are averaged across all types of insureds and vehicles and do not take into consideration a price decrease for retired military. So the insurer that is most affordable for your situation may not even be included in the company chart above. That underscores the importance of why you need to get rate quotes using your own individual information.

Full coverage rates compared to liability-only

Finding the cheapest car insurance for retired military in New York is the goal of most people, and one of the best ways to buy cheaper insurance is to not buy full coverage. The illustration below shows the difference between insurance costs when comparing full coverage to liability only. The premiums assume no claims or driving violations, $250 deductibles, drivers are not married, and no discounts are factored in.

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As an average for all age groups, physical damage insurance costs $1,863 per year more than carrying just liability coverage. That proposes the question if you should buy full coverage at all. There is no exact rule of when to phase out full coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than about 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

There are some scenarios where dropping full coverage is not in your best interest. If you haven’t paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

Is Geico, Progressive, Allstate, or State Farm cheaper?

When comparing car insurance, four of the larger companies to compare rates for are Geico, Progressive, Allstate, and State Farm. If you combine them together, they insure over 48% of the entire U.S. car insurance market. The next table rates pricing and service ratings, plus some optional coverages offered by each one.

Who has the cheapest insurance quotes for veterans?

There are many different ways to compare auto insurance quotes in New York, but the most popular are either through an exlusive agent such as Allstate or Liberty Mutual, an independent insurance agent, or from a direct company like Progressive or Geico. You can use whichever you prefer, but they differ in how they work.

Independent agents have contracts with multiple insurance companies and can compare coverage rates with all of them. Agents of this type have the freedom to provide multiple price quotes, which may give you a better overall rate comparison. If your premiums go up, the business is moved internally and the insured can keep the same agent.

A captive, or exclusive, agent is restricted to quoting rates for one company, two examples being an Allstate or State Farm agent. Exclusive agents normally do not have the ability to provide multiple price quotes, so if finding the cheapest auto insurance is your goal, you will want to shop around.

If you buy direct, you forego local insurance agents and instead buy direct either online or via phone. Shopping for auto insurance direct may be the best choice people who do not need complex risk management and have an above average understanding of what coverages, limits, and deductibles they need.

So which way is best to buy the cheapest car insurance for retired military in New York? We would first guess that buying direct results in the cheapest price because there are no middleman commissions, but that generally is not the case. A valid argument could also be made that an independent agent guarantees the cheapest rates because they can shop around, but again, that’s not accurate. For some people, exclusive agencies have extremely competitive rates well below independent agents AND direct companies.

Because it’s impossible to say who has the best auto insurance rates, really the only way to get rock-bottom rates is to compare rate quotes from as many companies as possible. We recommend you get quotes from all three types in order to have the best selection to choose from. For a list of companies with some of the cheapest New York auto insurance rates, click here to view.