The vehicle to be insured is a significant factor that determines the availability of cheaper auto insurance for retired military. Vehicles with limited top-end speed, advanced safety features, or a positive history of liability claims will cost less to insure than fast, unsafe models.
The data below ranks auto insurance costs for a handful of the more affordable automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $1,835 |
| Honda Accord LX-P 4-Dr Sedan | $1,962 |
| Honda CR-V EX-L 2WD | $2,007 |
| Ford Explorer XLT AWD | $2,010 |
| Ford F-150 XL Super Cab 4WD | $2,017 |
| Dodge Grand Caravan SE | $2,010 |
| Volkswagen Jetta SE 2.5 Station Wagon | $2,104 |
| Chevrolet Impala LT | $2,125 |
| Chevrolet Malibu LT | $2,164 |
| Toyota Corolla XLE | $2,240 |
| Toyota Prius | $2,246 |
| Hyundai Sonata GLS 4-Dr Sedan | $2,276 |
| Kia Optima LX | $2,283 |
| Chevrolet Silverado LTZ Crew Cab 4WD | $2,279 |
| GMC Sierra SLE Crew Cab 4WD | $2,287 |
| Toyota Camry LE | $2,324 |
| Toyota RAV4 4WD | $2,332 |
| Ford Focus SE 4-Dr Sedan | $2,342 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $2,382 |
| Nissan Altima 2.5 4-Dr Sedan | $2,394 |
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Rate information does not factor in specific zip code location which can influence rates substantially.
Looking at the numbers, we can assume that models like the Ford Escape, Honda Accord, Honda CR-V, and Ford Explorer are likely to be a few of the more affordable vehicles to insure for veterans.
For veterans, one of the more important factors that determine the amount you pay each year for auto insurance is where you keep your vehicle in Milwaukee. Cities with more crime and/or more people likely pay more, whereas areas with less people or fewer weather incidents have the luxury of cheap car insurance rates.
The following table sorts the most expensive cities in Wisconsin for retired military to buy car insurance in. Milwaukee comes in at #1 with an annual rate of $1,368 for the average policy, which is approximately $114 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Milwaukee | $1,368 |
| 2 | Wauwatosa | $1,319 |
| 3 | West Allis | $1,246 |
| 4 | Racine | $1,229 |
| 5 | Oak Creek | $1,202 |
| 6 | Kenosha | $1,182 |
| 7 | Greenfield | $1,156 |
| 8 | Beloit | $1,130 |
| 9 | Franklin | $1,129 |
| 10 | Eau Claire | $1,081 |
| 11 | Wausau | $1,079 |
| 12 | Menomonee Falls | $1,068 |
| 13 | La Crosse | $1,064 |
| 14 | Waukesha | $1,054 |
| 15 | Janesville | $1,053 |
| 16 | Brookfield | $1,045 |
| 17 | Madison | $1,040 |
| 18 | New Berlin | $1,018 |
| 19 | West Bend | $1,007 |
| 20 | Manitowoc | $997 |
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Rate quotes are estimated as the vehicle garaging location can decrease or increase insurance rates substantially.
Trying to find reasonably-priced auto insurance is not the easiest thing to do, and determining which companies have the cheapest car insurance rates for retired military will take even more rate comparisons.
Every insurance provider uses a different method to determine premium rates, so let’s rank the most competitive car insurance companies in Milwaukee. It’s important that you understand Milwaukee car insurance rates are based on many factors that can increase the policy premium. This is why drivers need to shop around when trying to get the most affordable car insurance rates for retired military. Insurance rates are impacted by many risk factors and change substantially, so the cheapest rate six months ago may now be one of the higher cost companies.
Find Cheaper Auto Insurance for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $580 |
| 2 | Partners Mutual | $608 |
| 3 | Erie | $717 |
| 4 | Nationwide | $752 |
| 5 | Rockford Mutual | $754 |
| 6 | Pekin Insurance | $775 |
| 7 | Western National | $777 |
| 8 | Rural Mutual Insurance | $779 |
| 9 | Integrity Mutual | $786 |
| 10 | Travelers | $804 |
| 11 | West Bend Mutual | $890 |
| 12 | State Farm | $905 |
| 13 | The Hartford | $912 |
| 14 | General Casualty | $964 |
| 15 | Auto Club Group | $977 |
| 16 | Auto-Owners | $1,114 |
| 17 | American Family | $1,137 |
| 18 | Progressive | $1,164 |
| 19 | Farmers | $1,176 |
| 20 | GEICO | $1,226 |
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USAA may offer some of the best car insurance rates in Milwaukee at around $580 a year. This is $581 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Nationwide, and Rockford Mutual would also make the list of some of the cheaper Milwaukee, WI car insurance companies.
As the example above demonstrates, if you buy coverage from Nationwide and switched to Partners Mutual, you could see yearly savings of in the neighborhood of $144. Wisconsin drivers with Rockford Mutual may save as much as $146 a year, and Pekin Insurance customers might see rate reductions of $167 a year.
Bear in mind that those premiums are averages for all types of insureds and vehicles and and are not figured with a vehicle location for retired military. So the company that fits you best may not even be in the top 30 companies shown above. That underscores the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
Full coverage rates compared to liability-only
Paying a lower price for car insurance should be important to the majority of drivers, and an effective way to find cheaper insurance for retired military is to only buy liability coverage. The example below compares insurance prices when comparing full coverage to liability only. The premiums assume no accidents or driving violations, $1,000 deductibles, single status, and no discounts are taken into consideration.
If averaged for all ages, physical damage insurance costs $974 per year over and above liability only. That raises the question if buying full coverage is a waste of money. There is no definitive guideline that is best for determining when to drop full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your vehicle’s settlement value is $5,500 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $4,500 after paying your policy deductible. If you are currently paying more than $450 a year for physical damage coverage, then it could be time to drop full coverage.
Get discounts on Milwaukee insurance rates
Auto insurance companies that provide coverage for retired military may also give you policy discounts that could potentially reduce rates by as much as 25% or more if you meet eligibility requirements. Companies and some of their more popular discounts can be read below.
- American Family may offer discounts for TimeAway discount, accident-free, defensive driver, mySafetyValet, multi-vehicle, and Steer into Savings.
- Farm Bureau discounts include renewal discount, good student, multi-policy, driver training, youthful driver, and 55 and retired.
- State Farm has discounts for good driver, safe vehicle, accident-free, student away at school, anti-theft, and driver’s education.
- Travelers offers premium reductions for continuous insurance, multi-car, driver training, payment discounts, and save driver.
- The Hartford may include discounts for good student, defensive driver, bundle, air bag, vehicle fuel type, driver training, and anti-theft.
- GEICO offers discounts for seat belt use, defensive driver, air bags, multi-vehicle, five-year accident-free, membership and employees, and anti-theft.
- Progressive policyholders can earn discounts including multi-vehicle, multi-policy, good student, continuous coverage, online quote discount, and homeowner.
The information below shows the comparison of premium costs with and without some available policy discounts. The rate quotes are based on a female driver, no claims or driving citations, Wisconsin state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple vehicle, homeowner, claim-free, marriage, passive restraint, and defensive driving course discounts applied. When discounts are factored in, theamount saved on car insurance for retired military is 27% or $317.
The illustration below illustrates how choosing a deductible can raise or lower premium costs when quoting cheap insurance for retired military. The rate quotes are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
A 50-year-old driver could pocket $188 a year by switching from a $100 deductible to a $500 deductible, or save $284 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old, could reduce their rates up to $466 each year just by choosing higher deductibles when buying full coverage. When increasing deductibles, it is necessary to have plenty of discretionary funds to satisfy the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.