How Much Does Car Insurance Cost for Retired Military in Oklahoma?

You have probably watched the captivating ads from car insurance companies like The General and State Farm that make claims of the cheapest price, so drivers just need to pick one at random, right?

Unfortunately, it’s just not that easy, as there are a ton of unknown aspects such as whether you are a new or experienced driver, if you have any driving citations, if you are a homeowner, and the liability limit you need, that all go into determining the rate you pay. We will touch on the best ways to save on auto insurance and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

When buying insurance for veterans, one of the key considerations that is used by insurance companies to determine the policy price is where you keep your vehicle. Areas with more people or even just a higher incidence of claims like Del City, Tulsa, and Bethany likely pay more, whereas areas with less congestion enjoy lower insurance rates.

The illustration below ranks the highest-priced places in Oklahoma for retired military to buy an auto insurance policy in.

Annual rates are approximated as the specific garaging location can change price quotes significantly.

Comparing quotes for budget car insurance is challenging, and determining which companies offer the lowest-priced car insurance rates for retired military may require a bit more work. Every insurance provider uses a little different formula to set policy rates, so first let’s look at the rankings for the car insurance companies with the overall best prices in Oklahoma.

It’s a good idea to be aware that Oklahoma car insurance rates are based on many factors which can substantially change the price you have to pay for coverage. This price variability is why drivers need to do a thorough rate comparison when trying to get the best auto insurance rates for retired military. Insurance prices consist of many things and change dramatically, so the best option the last time you checked may now be quite expensive.

Lowest Insurance Price Quotes for Vets

Compare Rates and Save

USAA may have some of the lowest car insurance rates in Oklahoma at around $1,161 each year. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also make the cut as some of the more affordable Oklahoma car insurance companies.

In this example, if you currently buy coverage from The Hartford and switched to USAA, you could realize a yearly savings of upwards of $172. Customers with GEICO could save as much as $179 a year, and Safe Auto policyholders might realize rate reductions of up to $202 a year.

Be aware that those rates are averaged for all types of insureds and vehicles and and are not calculated with a price decrease for retired military. So the car insurance company that has the lowest price for you may not even be shown in the above list. That helps illustrate why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.

The vehicle model to be insured is one of the biggest factors when comparing affordable coverage for retired military. Vehicles with limited speed and performance, excellent safety ratings, or a positive history of liability claims will cost significantly less to insure than fast, unsafe models. The information below features insurance prices for a number of the most economical automobiles to buy coverage for.

Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate quotes do not factor in specific garaging location which can influence auto insurance rates substantially.

By looking at the data, you can presume that vehicles like the Hyundai Elantra, Chevrolet Traverse, and Honda Accord will definitely be the most budget-friendly vehicles to insure for veterans.

Does it make sense to buy full coverage?

Finding cheap car insurance for retired military in Oklahoma should be important to the majority of people, and one great way to lower the cost of insurance is to not buy full coverage. The illustration below visualizes the comparison of yearly insurance costs with and without full coverage. The information is based on no claims, a clean driving record, $500 deductibles, drivers are not married, and no discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 4829,1789],[‘Age 30’, 2497,977],[‘Age 40’, 2457,905],[‘Age 50’, 2243,847],[‘Age 60’, 2173,831],[‘Age 70’, 2689,1115]]);var options = {title: ‘Full Coverage Versus Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Oklahoma’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If all age groups are averaged, comprehensive and collision coverage on your policy costs an additional $2,815 per year over and above liability coverage. That is a large expense which might make you wonder if buying full coverage is a good investment. There is no set rule to eliminate physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.

The information below shows how different deductible levels can affect insurance rates when trying to find cheap insurance for retired military. The premiums are based on a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3577,3289,2975,2675],[‘Age 30’, 2485,2275,2035,1803],[‘Age 40’, 2303,2111,1897,1687],[‘Age 50’, 2013,1849,1659,1475],[‘Age 60’, 1945,1785,1603,1429],[‘Age 70’, 2261,2079,1877,1685]]);var options = {title: ‘Effect of Higher Deductibles on Insurance Prices in Oklahoma’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 30-year-old driver could cut expenses by $406 a year by switching from a $100 deductible to a $500 deductible, or save $616 by using a $1,000 deductible. Younger drivers, like the 20-year-old example, have the ability to save up to $902 annually by using higher deductibles when buying full coverage.

If you do decide to increase your deductibles, it is important to have additional funds squirreled away to cover the extra out-of-pocket expense that comes with higher deductibles.

Is the best company Progressive, Geico, State Farm, or Allstate?

If you are looking for the best auto insurance, the first places to look would be Progressive, Geico, State Farm, and Allstate. The table below breaks down ratings and policy coverage options that policyholders can buy.