Shopping around for budget insurance is not always easy, and figuring out which companies offer the lowest-priced car insurance rates for retired military will require a bit more work. Every insurance company has a proprietary method to establish rates, so let’s begin by taking a look at the car insurance companies that tend to be cheaper in Charlotte, NC.
It’s a good idea to know that Charlotte car insurance rates are impacted by many things that can increase the price you pay for coverage. Simply getting older, filing a claim, or getting into an accident can cause premium changes that can make some companies higher-priced than before.
Best Car Insurance Prices for Vets
Progressive generally has some of the most affordable car insurance rates in Charlotte at around $632 each year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also qualify as some of the best Charlotte, NC car insurance companies.
As shown in the rates above, if you currently have coverage with NC Farm Bureau and switched to Utica National, you may realize an annual savings of in the vicinity of $73. Policyholders with Penn National might save as much as $81 a year, and GEICO insureds might reduce prices by as much as $84 a year.
To find the cheapest coverage for you, click here to begin a quote or feel free to get quotes from the companies below.
Be aware that those estimates are averages across all drivers and vehicles in North Carolina and and are not calculated with a specific zip code for retired military. So the insurer that can offer you the lowest price may not even be in the top 20 companies in the list above. That points out the importance of why you need to compare rates from multiple companies using your own driver and vehicle profiles.
The type of vehicle you are buying coverage for is one of the largest considerations that determines whether or not you can buy the lowest-priced car insurance for retired military. Vehicles with lots of horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost significantly more to insure than more economical and safe models.
The next table outlines coverage prices for a selection of the most affordable vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,255 |
| Honda Accord LX 4-Dr Sedan | $1,340 |
| Ford Explorer XLT 2WD | $1,377 |
| Ford Escape XLT 2WD | $1,382 |
| Ford Edge SE AWD | $1,427 |
| Chevrolet Equinox LT 2WD | $1,454 |
| Hyundai Elantra SE Touring Station Wagon | $1,494 |
| Dodge Grand Caravan CV | $1,502 |
| Toyota Prius | $1,532 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,557 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,559 |
| Toyota RAV4 Sport 2WD | $1,589 |
| Ford Focus S 4-Dr Sedan | $1,599 |
| Toyota Tacoma 2WD | $1,607 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,607 |
| Chevrolet Malibu LT | $1,619 |
| Toyota Camry Hybrid | $1,662 |
| Honda Civic LX-S 4-Dr Sedan | $1,674 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,676 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,706 |
| Jeep Grand Cherokee SRT-8 4WD | $1,716 |
| Chevrolet Impala LTZ | $1,709 |
| Honda Odyssey EX-L W/Rear Entertainment | $1,717 |
| Compare Cheap Rates Go | |
Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Rates do not factor in specific zip code location which can impact rates considerably.
Looking at the rates, you can see that vehicles like the Honda CR-V, Honda Accord, Ford Explorer, and Ford Escape will definitely be some of the most affordable vehicles to insure for veterans.
For veterans, one of the largest components that are looked at to determine car insurance rates is the neighborhood you call home in Charlotte. Cities with larger populations tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.
The following table rates the priciest cities in North Carolina for retired military to buy car insurance in. Charlotte is ranked #3 with an annual cost of $832 for coverage, which is around $69 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $873 |
| 3 | Charlotte | $832 |
| 4 | Gastonia | $787 |
| 5 | Wilmington | $781 |
| 6 | Durham | $765 |
| 7 | Huntersville | $764 |
| 8 | Greensboro | $763 |
| 9 | Indian Trail | $753 |
| 10 | High Point | $745 |
| 11 | Raleigh | $744 |
| 12 | Goldsboro | $743 |
| 13 | Cary | $742 |
| 14 | Rocky Mount | $740 |
| 15 | Apex | $739 |
| 16 | Hickory | $732 |
| 17 | Greenville | $730 |
| 18 | Wilson | $724 |
| 19 | Chapel Hill | $703 |
| 20 | Winston Salem | $695 |
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Prices are estimated as zip code location can raise or lower auto insurance rates greatly.
Picking the best car insurance company can be challenging considering how many choices you have in North Carolina. The company rank data in the lists below could help you analyze which insurers to look at when trying to find the cheapest insurance for retired military.
These rankings are only comprised of companies that write coverage in many states, so companies without a large exposure will not be included in these rankings. If you’d like to compare prices from these and other top-rated companies, follow this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Get discount Charlotte car insurance rates
Auto insurance companies that provide policies for retired military may provide premium discounts that could lower prices by as much as 30% if you meet eligibility requirements. Popular car insurance companies and a selection of discounts are included below.
- State Farm has savings for passive restraint, anti-theft, safe vehicle, student away at school, good student, and Steer Clear safe driver discount.
- GEICO may include discounts for seat belt use, anti-lock brakes, anti-theft, good student, and daytime running lights.
- Allstate offers discounts including passive restraint, teenSMART discount, FullPay discount, resident student, and 55 and retired.
- SAFECO may have discounts that include anti-lock brakes, anti-theft, homeowner, accident prevention training, and multi-car.
- Farm Bureau has discounts for youthful driver, renewal discount, 55 and retired, multi-vehicle, and safe driver.
- Progressive offers discounts for good student, continuous coverage, multi-policy, homeowner, online signing, multi-vehicle, and online quote discount.
- AAA policyholders can earn discounts including anti-theft, pay-in-full, multi-car, multi-policy, AAA membership discount, good student, and good driver.
The illustration below shows the comparison of car insurance rates with and without discounts being applied to the rates. The prices are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with accident-free, passive restraint, vehicle safety, claim-free, homeowner, and defensive driving course discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on car insurance for retired military is 28% or $392.
Price comparison of only insuring for liability
Paying less for car insurance is the goal of most vehicle owners, and one of the fastest ways to buy cheaper insurance for retired military is to buy only liability coverage. The information below shows the comparison of car insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no driving violations, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.
If we average all the age groups together, physical damage insurance costs $1,181 per year over liability only. That touches on the question if it’s worth it to buy full coverage. There is no definitive guideline to drop physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
Why you should be shopping around
Charlotte car insurance rates are determined by lots of factors that may substantially change the price of your policy. Getting older, moving across town, or getting a reckless driving citation may cause policy rate changes resulting in some rates now being more affordable than competitors. Not only may your risk profile change, but auto insurance companies change rates as often as every three months as an adjustment for underwriting gains or losses. Significantly higher claims may result in higher priced premiums, while a profitable period can cause lower-priced Charlotte car insurance rates.
The data below demonstrates which company has the cheapest car insurance in Charlotte, NC for a 30-year-old male driver with no violations or accidents, and good financial standing. If we estimate rates based on his personal risk profile, Utica National may offer the cheapest car insurance rates in Charlotte at $793 annually. This is $79 less than the average premium paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, Liberty Mutual, and Titan also make the list of the most affordable Charlotte, NC auto insurance companies.
The next chart shows rates after we give the driver from the first rate comparison an accident claim, a lower credit score, and a stop sign violation. Since every car insurance company uses their own method for determining rates, comparing rates may now result in a slightly different list of the cheapest Charlotte car insurance companies as shown below.
Penn National now has the lowest car insurance rate in Charlotte with State Farm, Auto-Owners, Progressive, and National General also having competitive pricing. This example demonstrates why consumers need to take the time to shop around to find the cheapest car insurance quotes for retired military.
Insurance rates are calculated by many things and can change without notice, so the most economical company three years ago may now be costing you a lot of money.
If you have questions and prefer to have a little guidance when shopping for the best coverage for retired military, the insurance agencies below can answer your questions and help you decide which insurance coverage will be best for you.
To find a Charlotte insurance agency closest to you, click the button link following the list or click here to compare prices now.
Pegram Insurance
4420 C The Plaza – Charlotte, NC 28215 – (704) 563-4343
Michael A Goodman Insurance Agency Inc
6401 Carmel Rd Ste 208 – Charlotte, NC 28226 – (704) 541-8660
A1 Insurance
537 W Sugar Creek Rd # 104B – Charlotte, NC 28213 – (704) 598-4442
State Farm: Jeremy Fulkerson
4805 Park Rd #103 – Charlotte, NC 28209 – (704) 523-9005