The vehicle model driven is one of the main factors when consumers are trying to find affordable car insurance for retired military. Vehicles with more horsepower, poor safety ratings, or an increased likelihood of liability claims will cost quite a bit more to insure than more modest models. The information below estimates insurance premiums for a handful of the cheapest automobiles to insure in Virginia.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 4WD | $1,173 |
| Ford F-150 STX Super Cab 2WD | $1,187 |
| Toyota Prius | $1,198 |
| Honda Accord EX 4-Dr Sedan | $1,222 |
| Honda CR-V LX 2WD | $1,228 |
| Ford Edge Limited 2WD | $1,255 |
| Dodge Grand Caravan Hero | $1,278 |
| Jeep Grand Cherokee Laredo 4WD | $1,286 |
| Hyundai Elantra SE Touring Station Wagon | $1,292 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,304 |
| Ford Focus SEL 4-Dr Sedan | $1,325 |
| Toyota Corolla XLE | $1,349 |
| Honda Odyssey EX-L | $1,355 |
| GMC Sierra SLT Extended Cab 2WD | $1,374 |
| Chevrolet Impala LS | $1,377 |
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Estimates do not factor in the specific area where the vehicle is garaged which can influence insurance rates considerably.
Looking at the data, models like the Ford Escape, Ford F-150, Toyota Prius, Honda Accord, and Honda CR-V are likely to be a few of the most budget-friendly vehicles to insure for veterans.
Deciding which insurers offer the most affordable auto insurance rates for retired military takes a little more work than just getting one or two price quotes.
Every car insurance company has a unique formula for setting prices, so let’s examine the auto insurance companies that tend to be cheaper in Virginia Beach.
Cheap Insurance Rates for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $653 |
| 2 | USAA | $688 |
| 3 | Penn National | $726 |
| 4 | Cincinnati Insurance | $733 |
| 5 | Erie | $780 |
| 6 | Auto-Owners | $781 |
| 7 | The Hartford | $785 |
| 8 | Utica National | $788 |
| 9 | Virginia Farm Bureau | $810 |
| 10 | Donegal Mutual | $852 |
| 11 | Nationwide | $925 |
| 12 | Allied | $982 |
| 13 | GEICO | $996 |
| 14 | ALFA | $1,018 |
| 15 | State Farm | $1,099 |
| 16 | Chubb | $1,101 |
| 17 | National Grange Mutual | $1,104 |
| 18 | Electric | $1,192 |
| 19 | Progressive | $1,209 |
| 20 | Amica | $1,229 |
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Travelers has some of the best car insurance rates in Virginia Beach at around $653 per year. This is $505 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Erie would also make the list of some of the most economical Virginia Beach, VA insurance companies.
In the above rates, if you are a policyholder with Penn National and switched to Travelers, you might see an annual premium reduction of around $73. Drivers with Cincinnati Insurance could save as much as $80 a year, and Erie policyholders might cut rates by $127 a year.
Understand that those estimates are averaged across all ages of drivers and types of vehicles and are not factoring in an exact vehicle garaging location for retired military. So the car insurance company that can offer you the best price may not even be in the top 30 companies in the list above. That underscores the importance of why you need to get quotes using your own specific driver and vehicle information.
One of the many factors that are looked at to determine the amount you pay each year for auto insurance is where you normally keep your vehicle in Virginia Beach. Areas with increased crime or more people are more likely to pay higher prices, whereas areas with lower crime rates and fewer weather claims benefit from lower coverage costs.
The table below ranks the most expensive areas in Virginia for retired military in which to buy car insurance. Virginia Beach ranks #13 with an annual cost of $948 for the average policy, which is about $79 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Centreville | $1,037 |
| 2 | Burke | $1,037 |
| 3 | Lake Ridge | $1,012 |
| 4 | Dale City | $1,008 |
| 5 | Alexandria | $1,005 |
| 6 | Arlington | $1,003 |
| 7 | Norfolk | $990 |
| 8 | McLean | $985 |
| 9 | Reston | $983 |
| 10 | Richmond | $975 |
| 11 | Portsmouth | $963 |
| 12 | Tuckahoe | $957 |
| 13 | Virginia Beach | $948 |
| 14 | Newport News | $948 |
| 15 | Suffolk | $937 |
| 16 | Hampton | $934 |
| 17 | Chesapeake | $926 |
| 18 | Leesburg | $922 |
| 19 | Danville | $912 |
| 20 | Charlottesville | $895 |
| 21 | Ashburn | $893 |
| 22 | Lynchburg | $843 |
| 23 | Roanoke | $831 |
| 24 | Harrisonburg | $776 |
| 25 | Blacksburg | $767 |
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Prices are comparative as the specific area where the vehicle is garaged can decrease or increase premiums significantly.
Insuring your vehicle with the right company is difficult considering how many companies sell coverage in Virginia Beach. The company ratings shown below can help you choose which car insurance providers to look at putting your business with. These ratings include companies that insure vehicles nationwide, so companies that may only write in Virginia are not taken into consideration for the list.
Top 10 Major Auto Insurers in Virginia Beach Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Discount Virginia Beach car insurance rates
Insurers that provide policies for retired military may additionally offer rate discounts that can reduce rates by as much as 25% or more if you are eligible to receive them. Large auto insurance companies and their possible discounts are outlined below.
- 21st Century discounts include student driver, automatic seat belts, early bird, defensive driver, and anti-lock brakes.
- Progressive may have discounts that include continuous coverage, multi-policy, good student, homeowner, online signing, multi-vehicle, and online quote discount.
- State Farm has discounts for multiple policy, safe vehicle, student away at school, good driver, accident-free, driver’s education, and Steer Clear safe driver discount.
- Nationwide offers discounts including business or organization, good student, multi-policy, anti-theft, and Farm Bureau membership.
- Esurance policyholders can earn discounts including Pac-12 alumni, good driver, DriveSense, multi-policy, online quote, anti-lock brakes, and good student.
- The Hartford offers discounts for anti-theft, vehicle fuel type, defensive driver, bundle, driver training, air bag, and good student.
The diagram below visualizes the comparison of insurance costs with and without some available policy discounts. The costs are based on a male driver, no driving violations, no at-fault accidents, Virginia state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with safe-driver, homeowner, anti-theft, vehicle safety, defensive driving course, and multiple policy discounts applied. With discounts applied, theaverage amount saved on auto insurance for retired military is 28% or $558.
The illustration below demonstrates how deductible levels can raise or lower insurance costs when searching for cheap insurance for retired military. The data is based on a single male driver, full coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could pocket $284 a year by changing from a $100 deductible up to a $500 deductible, or save $430 by using a $1,000 deductible. Younger drivers, such as the 20-year-old example, could shave up to $836 annually by choosing a higher deductible.
When increasing deductibles, it will be required to have enough spare savings to satisfy the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Who has the cheapest Virginia Beach car insurance?
Virginia auto insurance rates are calculated based on many things which can substantially decrease or increase the price of coverage. Improving your credit score, having a teen driver, or having an at-fault accident may cause policy rate changes that can make some companies cheaper than competitors. Also, insurers amend premium rates as often as every three months in order to offset underwriting gains or losses. Higher than usual claims may cause rate increases, while a profitable period may cause cheaper Virginia Beach car insurance rates.
For example, the data below shows the companies that have the cheapest car insurance in Virginia Beach, VA for a 35-year-old male driver with a clean driving record, no accidents, and great credit. If we compare prices based on his current rating profile, Travelers may have the most affordable car insurance rates in Virginia Beach at $773 per year. This is $385 less than the average policy premium paid by Virginia drivers of $1,158. USAA, Cincinnati Insurance, Penn National, and Utica National are the remaining most affordable Virginia Beach, VA auto insurance companies.
Let’s now give the driver from the first rate comparison a claim or two, less-than-perfect credit, and a speeding citation. Since each auto insurer has their own process for determining rates, analyzing rates will most likely result in a different list of cheap Virginia Beach auto insurance companies as shown below.
Erie now has the lowest price on auto insurance in Virginia Beach with The Hartford, Virginia Farm Bureau, Donegal Mutual, and Nationwide also being competitive. This example demonstrates why consumers need to spend some time comparing rates when trying to get the most budget-friendly car insurance quotes for retired military. Rates are calculated by many risk factors and can change without notice, so the most economical option the last time you checked may now be priced much higher than other options.