Cheap Car Insurance Quotes for Retired Military in Arkansas

The words “bargain” and “insurance” really shouldn’t be used together, specifically when comparison shopping for the best car insurance rates for retired military. To save some money, let’s introduce you to a few of the factors that impact insurance premiums, and find out if we can help you reduce the price of the next policy you buy.

One of the key factors used to calculate auto insurance rates is where you normally keep your vehicle in Arkansas. Areas with increased crime or more people like Little Rock, El Dorado, and Texarkana will most likely have higher rates, whereas areas with less crime or weather claims receive better rates.

The illustration below rates the priciest cities in Arkansas for retired military to purchase car insurance in.

Rate information is approximated as the specific area where the vehicle is garaged can change auto insurance rates substantially.

The type of vehicle you are insuring is one of the largest factors that determines if you can find the lowest-priced insurance for retired military. Vehicles with lots of horsepower, poor safety ratings, or a high likelihood of having liability claims will cost significantly more to insure than safer models. The tables below estimates insurance prices for a handful of the cheaper vehicles to buy coverage for.

Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arkansas minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Information does not factor in specific Arkansas garaging location which can increase or decrease coverage prices substantially.

Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arkansas minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Prices do not factor in zip code location which can influence prices noticeably.

Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arkansas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Rates do not factor in zip code location which can influence coverage rates greatly.

Comparing rates for low-priced auto insurance is challenging, and finding out which companies have the most affordable auto insurance rates for retired military will require additional perseverance. Each company uses slightly different criteria to set their prices, so first let’s look at the rankings for the auto insurance companies with the overall best prices in Arkansas.

It’s important to know that Arkansas auto insurance rates are impacted by many factors that can increase the price you have to pay for coverage. This price variation is why it is important to compare rates to get cheap insurance rates for retired military. Insurance rates consist of many risk factors and change dramatically, so the best price the last time you compared rates may now be quite expensive.

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USAA has some of the cheapest car insurance rates in Arkansas at around $981 each year. Auto Club, Travelers, Southern Farm Bureau, and State Farm would also make the list of some of the most economical Arkansas car insurance companies.

In the rate table above, if you currently have coverage with Southern Farm Bureau and switched to Auto Club, you may realize yearly savings of roughly $154. Policyholders with State Farm might save as much as $226 a year, and Columbia Insurance policyholders might realize rate reductions of up to $237 a year.

Bear in mind that those premiums are averages across all ages of drivers and types of vehicles and do not factor in a rate discount for retired military. So the auto insurance company that has the lowest price for you may not even be in the above rate chart. That is why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.

Difference between liability only and full coverage rates

Finding cheap auto insurance for retired military in Arkansas should be important to the majority of people, and one common way to buy cheaper insurance is to not pay for full coverage. The illustration below shows the comparison of insurance prices with full coverage and liability only. The data is based on no claims or violations, $250 deductibles, single marital status, and no discounts are factored in.

If the expense is averaged for all age categories, comp and collision coverage costs an extra $1,971 per year more than buying just liability insurance. At some point, every insured wonders when is it safe to stop buying full coverage. There is no specific rule to stop buying physical damage coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

Rate increases following a ticket or accident

The easiest method to maintain cheap auto insurance for retired military in Arkansas is to drive safely and avoid accidents and violations. The illustration below shows how violations and accidents raise auto insurance costs for different age groups. The price estimates are based on a married female driver, full coverage, $500 deductibles, and no discounts are applied to the premium.

In the chart above, the average cost of an auto insurance policy in Arkansas per year with no accidents and a clean driving record is $1,664. Add in one speeding ticket and the average cost rises to $1,942, an increase of $278 each year. Then include two accidents along with the one speeding ticket and the yearly cost of auto insurance for retired military goes up to an average of $4,417. That’s an increase of $2,753, or $229 per month, just for being a little careless behind the wheel!

How to find budget-friendly auto insurance for retired military

Here are some thrifty solutions that can help Arkansas drivers quote more affordable auto insurance.

• Remove physical damage coverage on older vehicles
• Drive attentively and avoid accidents
• Avoid speeding and other traffic citations and pay less
• Avoid price increases by not filing claims
• Vehicles with good safety ratings are usually cheaper to insure
• Buying home and auto insurance together can earn discounts
• Compare rates and switch if you can find a better deal

That last piece of advice is remarkably crucial, as was pointed out in this piece. Coverage prices in Arkansas change a lot, so drivers shouldn’t hesitate to change insurance companies if a cheaper price is available. Many drivers prefer to stick with one company, but it’s not a great idea if that devotedness results in you overpaying money that could be spent on other things. Spend a few minutes and compare prices and find cheaper insurance for retired military.

Cheapest insurance quotes for veterans

There are many ways to find cheaper auto insurance in Arkansas, but the most popular are through an exclusive insurance agent like Liberty Mutual or Allstate, an independent insurance agent, or from a direct company like Geico. Each way has the same basic steps, but buyers need to know the differences in how they function.

Independent agents can place your business with multiple companies and can do rate comparisons with all of them. These types of agencies are appointed with more than one company and can compare multiple rates, which may provide you with improved odds of finding cheaper coverage. If prices rise, you can get a different policy and the insured can keep the same agent.

A captive or exclusive agent is only able to quote your policy with one insurance company such as an Auto-Owners or State Farm agent. This type of agents cannot quote rates from more than one company, so it’s a good idea to shop around.

Opting to purchase auto insurance direct means you skip an exlusive or independent agent and instead buy buying direct from a company like Progressive or Esurance. Shopping for auto insurance direct may be good for drivers who do not have complex finances and know more than average about the exclusions of a policy.

What is the best method to find cheap auto insurance for retired military in Arkansas? We wish we could say buying direct results in the cheapest rates since that eliminates agent commissions, but unfortunately, that is not always true. We’d also like to say an independent agency results in the cheapest rates since they have access to many companies, but that assumption is also not necessarily accurate. In many cases, the exclusive agents have price quotes that are the lowest in Arkansas.

Due to the fact that auto insurance rates vary so much, the only real way to not overpay for auto insurance is to compare, compare, and compare some more. In a perfect world, youll get price quotes all three ways to give yourself plenty of rates to compare. A great place to start is our list of online companies offering discounts: click here to view.