Who Has the Cheapest Car Insurance for Retired Military in Alabama?

For veterans, one of the more important components that determine rate quotes is the neighborhood you call home in Alabama. Cities with more crime and/or more people like Birmingham, Bessemer, and Prichard are more likely to have higher rates, whereas areas with less congestion benefit from lower rates.

The following table lists the most expensive places in Alabama for retired military to buy an auto insurance policy in.

Table data uses comparative as the specific Alabama residence address can modify prices significantly.

The vehicle model needing coverage is a large consideration that determines whether or not you can buy the most affordable coverage for retired military. Vehicles with limited top-end speed, excellent safety ratings, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.

The table below features coverage premiums for a handful of the more afforable vehicles to insure in Alabama.

Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alabama minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Table data does not factor in Alabama location which can raise or lower coverage prices greatly.

Based upon these rates, we can expect vehicles like the Honda CR-V, Ford Escape, Chevrolet Traverse, and Hyundai Elantra are most likely to be the more affordable vehicles to insure for veterans.

Full coverage rates compared to liability-only

Finding the cheapest car insurance for retired military in Alabama is the goal of most vehicle owners, and one easy way to pay lower rates for insurance is to buy only liability coverage. The illustration below compares insurance costs with liability coverage only compared to full coverage. The data assumes no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are taken into consideration.

If averaged out across all ages, full coverage costs an additional $1,933 per year more than just buying liability insurance. At some point, every insured wonders if paying for full coverage is worth it. There is no clear-cut formula for eliminating full coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.

There are some situations where dropping full coverage is not a good idea. If you still owe money on your vehicle, you have to keep full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should keep full coverage in place.

State Farm, Geico, Allstate, or Progressive: Who is cheapest?

When it comes to buying auto insurance for veterans in Alabama, some of the largest companies to start with are State Farm, Geico, Allstate, and Progressive. Combined they insure over 48% of the car insurance market in the United States. Each company has slightly different coverages and options that buyers can select from. The table below points out price, claims, and customer service ratings, as well as some optional coverages offered by each company.