Cheap Car Insurance Quotes for Veterans in Arkansas

Buying reasonably-priced auto insurance is challenging, and finding out which companies offer the cheapest car insurance rates for veterans may require even more work. Each auto insurer has a unique approach to determine rates, so let’s begin by taking a look at the car insurance companies with the most affordable rates in Arkansas.

Best Insurance Companies for Vets

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USAA quotes some of the lowest car insurance rates in Arkansas at around $991 a year. Auto Club, Travelers, Southern Farm Bureau, and State Farm are also some of the best Arkansas car insurance companies.

In the above rates, if you currently have a policy with Southern Farm Bureau and switched to Auto Club, you could realize an annual premium reduction of about $190. Policyholders with State Farm might save as much as $213 a year, and Farmers insureds might reduce prices by as much as $268 a year.

These prices are averaged for all drivers and vehicles and do not take into consideration a rate decrease for veterans. So the car insurance company that fits your age and vehicle best may not even be featured in the list above. That affirms the importance of why you need to get car insurance quotes using your own individual information.

When shopping for the cheapest auto insurance for veterans, one of the many criteria used to determine car insurance rates is where your home is located. More densely populated places like Little Rock, Bryant, and Hot Springs tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims generally pay lower auto insurance rates.

The following table sorts the most costly cities in Arkansas for veterans to buy an auto insurance policy in.

Information shown are estimated as specific location information can increase or decrease premium rates considerably.

The type of vehicle you are trying to insure is one of the primary factors that determines if you can find economical coverage for veterans. Vehicles with high performance engines, poor safety ratings, or a history of substantial liability claims will cost substantially more to insure than more economical and safe models.

The list below shows coverage premiums for the most economical vehicles to buy insurance for.

Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arkansas minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Information does not factor in specific location information which can lower or raise premium rates significantly.

Based upon the table data, you can see that cars like the Honda CR-V, Ford Escape, and Chevrolet Traverse will be some of the most affordable vehicles to insure for veterans.

Careless drivers pay higher rates

The ideal way to obtain good car insurance prices for veterans is to drive cautiously and avoid traffic citations and accidents. The example below highlights how speeding tickets and fender-benders drive up insurance costs for different age groups. The prices are based on a single male driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and Two Accidents’],[‘Age 20’, 4505,5363,8425],[‘Age 30’, 2289,3145,6207],[‘Age 40’, 2287,3141,6205],[‘Age 50’, 2079,2933,5995],[‘Age 60’, 2009,2867,5929],[‘Age 70’, 2451,3307,6371]]);var options = {title: ‘Impact of Violations and Accidents on Arkansas Car Insurance Prices’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Arkansas’,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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the previous example, the average cost of a car insurance policy in Arkansas per year with a clean driving record and no accidents is $2,603. Factor in two speeding tickets and the average cost increases to $3,459, an increase of $856 each year. Then throw in two accidents along with the two speeding tickets and the annual cost of car insurance for veterans increases to an average of $6,522. That’s an increase of $3,919, or $327 per month, just for not driving attentively!

Full coverage rates vs. liability-only

Finding cheap car insurance for veterans in Arkansas should be important to the majority of people, and one of the easiest ways to reduce the cost of insurance is to not buy full coverage. The example below illustrates the comparison of premium costs with and without physical damage coverage. Data assumes no violations or accidents, $250 deductibles, single marital status, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $250 Deductibles’, ‘Liability Only’],[‘Age 20’, 3039,1029],[‘Age 30’, 1595,567],[‘Age 40’, 1569,525],[‘Age 50’, 1431,493],[‘Age 60’, 1379,483],[‘Age 70’, 1683,645]]);var options = {title: ‘Full Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Arkansas’,minValue: 0,format: ‘$###,###’},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);}

Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs $1,783 per year more than buying just liability insurance. At some point, about every driver wonders when is the right time to remove full coverage. There is no definitive rule of when to eliminate physical damage coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

There are a few cases where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.

How to find low-cost car insurance for veterans

The list below shows a few thrifty ideas that can help Arkansas drivers get cheaper coverage.

• Claim-free policyholders usually earn a discount
• Drivers with good credit ratings often pay less
• Keep your driving record clean
• Higher physical damage deductibles lower rates
• Home or renters coverage can save on auto insurance
• At-fault accidents can raise rates significantly
• Compare rate quotes frequently

The last tip in the list is extraordinarily necessary, as we stressed in the article above. Car insurance prices in Arkansas can change considerably based on profitability, so don’t be tentative to switch to a new company if you can save money. Many drivers prefer to stick with one company, but it’s not a great idea if it’s costing you hundreds of dollars a year. Spend a few minutes and shop around to find cheaper insurance for veterans.