Cheapest Auto Insurance Quotes for Retired Military in New Jersey

Our content editors always give us grief that when writing about auto insurance, the word “cheap” really shouldn’t be used anywhere in the article as a descriptor for auto insurance rates. Despite the oxymoron, cheap auto insurance for retired military may be a thing of the past. Don’t let that ruin your day, because we will teach you how you can still get car insurance that is cheaper than your current rate.

The vehicle driven is one of the primary factors when shopping for economical insurance for retired military. Vehicles with lots of speed or power, poor safety ratings, or high incidents of liability claims will cost much more to insure than more economical and safe models.

The tables below showcases coverage prices for a number of the cheapest vehicles to buy coverage for.

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

Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Premium costs do not factor in specific location which can decrease or increase rates considerably.

Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Information does not factor in garaging location in New Jersey which can modify prices greatly.

When buying car insurance for veterans, one of the key factors that impact auto insurance rates is where you keep your vehicle in New Jersey. Areas with more people or even just a higher incidence of claims like East Orange, Elizabeth, and Paterson tend to have higher auto insurance costs, whereas areas that are not as densely populated tend to receive slightly lower rates.

The table below rates the higher priced cities in New Jersey for retired military to purchase a policy in.

Annual rates are estimated as specific location information can raise or lower coverage rates greatly.

Comparing quotes for cheap insurance is not easy, and determining which companies offer the most affordable car insurance rates for retired military takes even more diligence.

Each insurance company uses a different method for determining rates in each state, so let’s begin by taking a look at the most affordable car insurance companies in New Jersey.

Best Auto Insurance Prices for Vets

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21st Century has some of the most affordable car insurance rates in New Jersey at around $1,067 annually. Travelers, New Jersey Manufacturers, Palisades, and Penn National would also make the list of some of the best New Jersey car insurance companies.

In the above example, if you are insured with Palisades and switched to Travelers, you may see yearly savings of roughly $209. Drivers with Penn National could save as much as $234 a year, and The Hartford customers might cut rates by $331 a year.

To see if you’re overpaying, click here to start your custom quote or quote rates from the companies below.

It’s important to note that these policy rates are averages for all ages of drivers and types of vehicles and do not factor in a rate discount for retired military. So the company that has the cheapest price for you may not even be included in the company chart above. That emphasizes why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

Insuring your vehicle with a good quality car insurance company can be challenging considering how many companies are available to choose from in New Jersey. The company ratings in the lists below can help you choose which auto insurers you want to consider comparing rates with. These ratings are for insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in New Jersey are not included in the list.

Top 10 Large Auto Insurers Overall in New Jersey

1. Mercury Insurance
2. The Hartford
3. Progressive
4. Travelers
5. State Farm
6. Farmers Insurance
7. Safeco Insurance
8. USAA
9. GEICO
10. 21st Century

Cost difference between full coverage and liability

Finding the cheapest car insurance for retired military in New Jersey should be important to the majority of drivers, and one easy way to find cheaper insurance is to buy liability only. The example below visualizes the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The premiums are based on no violations or accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.

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Averaged for all age groups, comp and collision coverage costs $2,745 per year over and above liability coverage. At some point, about every driver wonders if buying full coverage is a good investment. There is no exact rule to eliminate physical damage insurance, but there is a general convention. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.

How to get the cheapest car insurance for retired military in New Jersey

Here are many money-saving solutions that can help you quote more affordable coverage.

• Maintain a safe distance and avoid accidents
• Do not get traffic tickets
• Increase your credit score
• Insure your home and auto with the same company
• Try paying for small claims out-of-pocket
• Increase deductibles to save money
• Keep rates low by shopping around frequently

The last item on the list is highly valuable, as was emphasized in this article. Auto insurance prices in New Jersey fluctuate considerably, so drivers shouldn’t be reluctant to switch companies if a better rate can be found. Many drivers tend to have loyalty to a certain company, but it isn’t a good idea if that devotedness results in you overpaying a wad of cash every year. Take a few minutes and compare prices to find cheaper insurance for retired military.

Who has the cheapest insurance quotes for veterans?

There are quite a few ways to comparison shop for car insurance in New Jersey, but the most popular ways are from an exclusive insurance agency like Liberty Mutual or Allstate, an independent agent, or buying direct from a company like Progressive or Geico. They all have the same basic principle, but it’s important to understand the differences in how they provide rate quotes.

Independent insurance agents work for many companies and can compare rates with each one. They are appointed with more than one company and can provide you with more rates, which may provide you with a better chance of finding cheaper coverage. If a cheaper rate is found, they can switch companies in-house without having to get a different agent.

A captive or exclusive agent is usually just provide rates from a single insurance company, two of the more popular are an Auto-Owners or Allstate agent. These agents are not able to compare other company’s rates, so if their prices are high, they cannot shop around.

Direct car insurance buyers do not use an independent or exclusive agent and instead buy direct either online or via phone. This option can be good for families who do not need high levels of coverage and have some degree of understanding of what car insurance covers and what it doesn’t.

So which method is best to buy the cheapest car insurance for retired military in New Jersey? The obvious answer would be shopping direct saves the most money because there are no middleman commissions, but that is not always the case. It would also be easy to say an independent agent guarantees the lowest rates because they can quote many companies, but that assumption is also not accurate. In many circumstances, the exclusive agents have extremely competitive rates well below independent agents AND direct companies.

Because there are so many factors that make up car insurance rates, the only real way to find out which one is cheapest is to get quotes and compare the rates. The ideal approach is to get price quotes from independent, exclusive, and direct to get a good idea who is cheapest. To see some of the cheapest online companies available, click here to view.