The vehicle model requiring insurance is probably the largest consideration that determines if you can find the cheapest insurance for retired military. Vehicles with high performance engines, a lack of advanced safety features, or a history of substantial liability claims will cost substantially more to insure than more modest models. The next table outlines coverage premiums for the most affordable vehicles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,425 |
| Ford Escape XLS 2WD | $1,593 |
| Honda Odyssey EX W/Rear Entertainment | $1,617 |
| Nissan Altima 2.5 4-Dr Sedan | $1,650 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,656 |
| Toyota Camry XLE | $1,735 |
| Toyota Corolla S | $1,742 |
| Chevrolet Silverado LS Crew Cab 4WD | $1,767 |
| GMC Sierra SLE Extended Cab 4WD | $1,774 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,767 |
| Nissan Rogue SL 2WD | $1,770 |
| Ford Explorer XLT 2WD | $1,789 |
| Toyota Tacoma 4WD | $1,796 |
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Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Prices do not factor in garaging location in Oakland, CA which can modify premium rates substantially.
Looking at the numbers, we can presume that makes and models like the Honda CR-V, Ford Escape, Honda Odyssey, Nissan Altima, and Volkswagen Jetta are most likely going to be some of the cheapest vehicles to insure for veterans.
For veterans, one of the largest criteria that aid in calculating auto insurance rates is where you live. Areas with high crime rates or more dense population are more likely to pay higher prices, whereas areas that tend to be more rural tend to receive slightly lower rates.
The following table ranks the most expensive areas in California for retired military to buy auto insurance in. Oakland makes the list at #4 costing $1,738 for coverage, which is about $145 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Los Angeles | $2,146 |
| 2 | Glendale | $2,079 |
| 3 | San Francisco | $1,745 |
| 4 | Oakland | $1,738 |
| 5 | Sacramento | $1,669 |
| 6 | San Bernardino | $1,628 |
| 7 | Long Beach | $1,610 |
| 8 | Stockton | $1,603 |
| 9 | Santa Clarita | $1,580 |
| 10 | Garden Grove | $1,570 |
| 11 | Modesto | $1,532 |
| 12 | Fontana | $1,519 |
| 13 | Moreno Valley | $1,506 |
| 14 | Santa Ana | $1,497 |
| 15 | Riverside | $1,497 |
| 16 | Fresno | $1,472 |
| 17 | Anaheim | $1,444 |
| 18 | Fremont | $1,403 |
| 19 | San Jose | $1,381 |
| 20 | San Diego | $1,368 |
| 21 | Huntington Beach | $1,360 |
| 22 | Bakersfield | $1,353 |
| 23 | Chula Vista | $1,350 |
| 24 | Oxnard | $1,344 |
| 25 | Irvine | $1,330 |
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Rate information is approximated as the vehicle garaging location can raise or lower coverage prices substantially.
Full coverage versus liability only rates
Paying a lower price for insurance is the goal of most people, and an easy way to lower the cost of insurance for retired military is to not insure for full coverage. The information below illustrates the difference between insurance rates with full coverage compared to only the California minimum liability coverage. The premiums assume no driving violations, no at-fault accidents, $100 deductibles, single status, and no discounts are factored in.
Averaged for all age groups, physical damage coverage on your policy costs $2,812 per year more than just buying liability insurance. That is a large expense and it proposes the question if paying for full coverage is worth it. There is no specific rule of when to exclude comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
There are some cases where dropping full coverage is not a good idea. If you haven’t satisfied your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not buy liability only.
Impact of speeding/accidents on Oakland insurance rates
The easiest method to enjoy good insurance prices for veterans is to drive safe and avoid tickets and accidents. The chart below highlights how traffic violations and accidents can influence insurance costs for each age group. The price estimates are based on a married female driver, full coverage, $250 deductibles, and no discounts are applied.
In the previous chart, the average cost of auto insurance in Oakland per year with no accidents and a clean driving record is $1,975. Get written up for one speeding ticket and the average cost rises to $2,296, an increase of $321 each year. Now throw in two accidents along with the one speeding ticket and the 12-month cost of insurance for retired military increases to an average of $4,995. That’s an increase of $3,021, or $252 per month, just for being a less-than-perfect driver!
Choosing a highly-rated auto insurance company is hard considering how many choices you have in California. The information shown next may help you choose which coverage providers you want to consider comparing rates from.
The ratings below only include large nationwide companies, so companies without a large exposure are not included in this list. If you wish to compare rates from these top insurers and more, click this link.
Top 10 Major Auto Insurance Providers in Oakland Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Progressive – A+
- Titan Insurance – A+
Tips to find cheaper car insurance for retired military
It’s not impossible to find cheaper rates, and here are some of the better money-saving suggestions that can help California drivers get cheap coverage.
- Choose a safer vehicle and pay lower rates
- Do not pay for full coverage if not needed
- Clean up your credit
- Claim-free policyholders usually earn a discount
- Higher deductibles mean lower rates
- Buying your home and auto policies from the same company can earn a discount
- Shop around for cheaper prices often
That final tip is certainly necessary, as we hit on in the prior article. Car insurance prices go up and down frequently, so you should be ready to switch carriers if you find a cheaper price. Many drivers tend to have loyalty to a certain company, but is isn’t recommended if that faithfulness ends up costing you hundreds every year. It only takes a couple minutes to compare rates and find cheaper car insurance for retired military in Oakland.
If you prefer to have a professional recommendation when trying to find lower insurance rates for veterans, the insurance agencies listed below are willing to answer your questions and help you decide which coverage meets your needs best. To locate an Oakland insurance agent closest to you, click the button after the list or click here to compare price quotes.
- Stephanie Canessa – State Farm Insurance Agent
6228 Merced Ave – Oakland, CA 94611 – (510) 339-4444 - Nationwide Insurance: Ruby Joyce Barnett
440 Grand Ave #450 – Oakland, CA 94610 – (510) 251-3800 - On My Way Insurance
320 10th St – Oakland, CA 94607 – (510) 893-3298 - Links Insurance Services
1155 3rd St # 220 – Oakland, CA 94607 – (925) 361-5185 - Farmers Insurance – Scott Halbrook
1433 Leimert Blvd – Oakland, CA 94602 – (510) 531-1432