Best Cheap Car Insurance Quotes for Retired Military in Connecticut

One of the more important considerations that auto insurance companies use to determine car insurance rates is where you live in Connecticut. Areas with more people or even just a higher incidence of claims like New Haven, Hartford, and East Haven tend to pay higher rates, whereas areas with lower crime rates and fewer weather claims benefit from lower coverage costs.

The information below shows the most expensive areas in Connecticut for retired military to purchase car insurance in.

Premium amounts are comparative as specific Connecticut garaging address can raise or lower premiums considerably.

Finding dependable, cost effective car insurance is tough enough, and determining which companies quote the lowest-priced insurance rates for retired military takes even more rate comparisons. Each insurer has a proprietary formula for setting rates, so we’ll go over the insurance companies that tend to have lower prices in Connecticut.

Best Cheap Insurance Rates for Vets

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Utica National may have some of the cheapest car insurance rates in Connecticut at around $975 annually. Travelers, Amica, USAA, and Nationwide also qualify as some of the cheapest Connecticut insurance companies.

As the rates illustrate above, if you currently have a policy with USAA and switched to Travelers, you might achieve yearly savings of upwards of $146. Insureds with Nationwide may save as much as $272 a year, and Unitrin insureds might lower prices by $393 a year.

Remember that these premium estimates are averages for all types of insureds and vehicles and do not factor in a rate discount for retired military. So the company that fits your needs best may not even be included in the list of companies shown earlier. That underscores the importance of why you need to quote rates from many companies using your own individual information.

Cost difference between full coverage and liability

Finding the best cheap auto insurance for retired military in Connecticut should be important to most drivers, and an easy way to reduce the cost of insurance is to not buy comprehensive and collision coverage. The chart below shows the comparison of car insurance costs with full phyical damage coverage and with liability coverage only. The premium estimates are based on no tickets, no at-fault accidents, $100 deductibles, single status, and no other discounts are factored in.

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If we average the cost for all age groups, physical damage coverage costs $1,977 per year more than insuring for liability only. That is a large expense which might make you wonder if it’s worth it to buy full coverage. There is no clear-cut rule for eliminating full coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.

There are some scenarios where eliminating full coverage is not a good idea. If you still owe money on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.

Impact of citations and accidents on insurance rates

In a perfect world, the best way to find the best insurance rates in Connecticut for veterans is to be a cautious driver and maintain a clean driving record. The information below demonstrates how traffic citations and accident claims raise car insurance rates for each different age group. The rates are based on a single female driver, comp and collision included, $250 deductibles, and no discounts are factored in.

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The data charted above shows the average cost of car insurance in Connecticut per year with a clean driving record and no accidents is $1,898. Add in two speeding tickets and the average cost swells to $2,555, an increase of $657 each year. Now add one accident along with the two speeding tickets and the yearly cost of insurance for retired military increases to an average of $3,210. That’s an increase of $1,312, or $109 per month, just for not driving attentively!

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

If you are looking for the best auto insurance for veterans, four good companies to start with are Progressive, State Farm, Allstate, and Geico. When added together, they insure almost half of the entire U.S. market share. The next table compares ratings for price and service, as well as some optional coverages offered by each company.