This would be a quick read if we could simply give you the name of the single best company that has the best deal on coverage in Florida. It’s not that simple, unfortunately, as there are many unknown elements like where you live in Orlando, how well you maintain your credit, the miles you drive each year, and if you are a good driver, that all impact the price you pay. The content below covers the best ways to save money and educate you enough to have a good beginning to your quest for cheaper car insurance.
Comparing quotes for cheap car insurance is challenging, and finding out which companies have the cheapest auto insurance rates for retired military will require even more diligence.
Every insurance provider has a unique formula to determine rates, so we’ll go over the most budget-friendly auto insurance companies in Orlando. It’s important that readers know that Orlando, FL auto insurance rates are based on many factors that can increase the cost of a policy. This price variability is why it is critical to perform an extensive rate comparison to find the most affordable auto insurance rates for retired military. Rates can be determined by many things and can decrease or increase without notice, so the cheapest rate six months ago may now be quite expensive.
Best Cheap Insurance Rates for Vets
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $957 |
| 2 | Amica | $1,694 |
| 3 | Electric | $1,764 |
| 4 | Progressive | $1,847 |
| 5 | Travelers | $1,888 |
| 6 | Mercury | $1,973 |
| 7 | Allied | $2,004 |
| 8 | Esurance | $2,082 |
| 9 | Auto-Owners | $2,107 |
| 10 | State Farm | $2,131 |
| 11 | GEICO | $2,172 |
| 12 | Allstate | $2,340 |
| 13 | 21st Century | $2,397 |
| 14 | Windhaven Insurance | $2,653 |
| 15 | Safeco | $2,927 |
| 16 | MetLife | $2,958 |
| 17 | Liberty Mutual | $3,009 |
| 18 | Hanover | $3,054 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $3,942 |
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USAA may offer some of the most affordable car insurance rates in Orlando at around $957 each year. Amica, Electric, Progressive, and Travelers also are some of the lowest-priced Orlando, FL car insurance companies.
In the above rates, if you are a policyholder with Progressive and switched to USAA, you may realize a yearly savings of upwards of $890. Insureds with Travelers could save as much as $931 a year, and Mercury policyholders might cut rates by $1,016 a year.
To find the cheapest rates for your vehicle, click here or visit any of the companies below.
Bear in mind that those prices are averages for all drivers and vehicles in Florida and do not take into consideration an exact location for retired military. So the auto insurance company that has the lowest price for you may not even be in the list above. That illustrates why you need to get car insurance quotes using your own specific driver and vehicle information.
The vehicle needing coverage is a large consideration when looking for the cheapest auto insurance for retired military. Vehicles with lots of horsepower, poor passenger safety features, or a track record of large liability claims will cost much more to insure than safer models.
The next table estimates car insurance prices for a handful of the cheapest automobiles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,147 |
| GMC Sierra SLE Regular Cab 2WD | $1,357 |
| Ford Escape Limited 4WD | $1,367 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $1,384 |
| Ford F-150 XLT Crew Cab 2WD | $1,403 |
| Honda Civic LX-S 4-Dr Sedan | $1,406 |
| Honda Odyssey LX | $1,428 |
| Toyota Camry XLE | $1,432 |
| Ford Edge Sport 2WD | $1,438 |
| Toyota Prius | $1,435 |
| Nissan Rogue SL 2WD | $1,457 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $1,459 |
| Ford Fusion Sport 4-Dr Sedan | $1,467 |
| Ford Explorer XLT AWD | $1,461 |
| Dodge Ram Crew Cab SLT 2WD | $1,483 |
| GMC Sierra 3500HD SLE Extended Cab 2WD | $1,493 |
| Toyota RAV4 Sport 2WD | $1,486 |
| Chevrolet Equinox LT 2WD | $1,496 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,493 |
| Dodge Grand Caravan Crew | $1,517 |
| Honda Accord LX-S 2-Dr Coupe | $1,531 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,568 |
| Ford Focus SES 4-Dr Sedan | $1,570 |
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price estimates do not factor in vehicle garaging location which can modify auto insurance rates noticeably.
Based upon the rates shown, we can tell that cars like the Honda CR-V, GMC Sierra, and Ford Escape are some of the cheaper vehicles to insure for veterans.
For veterans, one of the big things that aid in calculating the amount you pay each year for auto insurance is where you call home. Areas with a lot of weather claims or more people will most likely have higher rates, whereas more rural areas can boast about having cheaper rates.
The following table shows the highest-priced areas in Florida for retired military to buy car insurance in. Orlando is ranked at #18 with an annual cost of $2,008 for car insurance, which is approximately $167 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Hialeah | $3,630 |
| 2 | Miami Gardens | $3,277 |
| 3 | Miami | $3,145 |
| 4 | Miami Beach | $3,013 |
| 5 | Miramar | $2,683 |
| 6 | Pompano Beach | $2,620 |
| 7 | West Palm Beach | $2,599 |
| 8 | Fort Lauderdale | $2,576 |
| 9 | Coral Springs | $2,574 |
| 10 | Hollywood | $2,552 |
| 11 | Davie | $2,548 |
| 12 | Tampa | $2,532 |
| 13 | Pembroke Pines | $2,505 |
| 14 | Brandon | $2,322 |
| 15 | St. Petersburg | $2,263 |
| 16 | Clearwater | $2,238 |
| 17 | Spring Hill | $2,039 |
| 18 | Orlando | $2,008 |
| 19 | Port St. Lucie | $1,975 |
| 20 | Jacksonville | $1,960 |
| 21 | Lakeland | $1,901 |
| 22 | Cape Coral | $1,860 |
| 23 | Palm Bay | $1,733 |
| 24 | Tallahassee | $1,731 |
| 25 | Gainesville | $1,646 |
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Rates are approximated as the vehicle garaging location can affect premium rates substantially.
Types of discounts on Orlando auto insurance
Insurance providers that provide coverage for retired military may also provide policy discounts that can reduce rates by 25% or more if you meet eligibility requirements. A few of the larger companies and some of the discounts can be found below.
- American Family includes discounts for TimeAway discount, mySafetyValet, accident-free, bundled insurance, and good driver.
- Nationwide has discounts for anti-theft, good student, multi-policy, business or organization, Farm Bureau membership, and defensive driving.
- MetLife may include discounts for defensive driver, accident-free, good student, good driver, claim-free, multi-policy
- 21st Century offers discounts including air bags, student driver, driver training, good student, teen driver, and theft prevention.
- Farmers Insurance offers premium reductions for teen driver, multi-car, electronic funds transfer, distant student, and early shopping.
- Allstate policyholders can earn discounts including economy car, auto/life discount, resident student, new car, defensive driver, multi-policy, and passive restraint.
The diagram below visualizes the comparison of car insurance rates with and without discounts applied to the premium. The prices are based on a male driver, a clean driving record, no claims, Florida state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with multiple policy, safe-driver, claim-free, anti-theft, defensive driving course, and marriage discounts applied. When drivers take advantage of discounts, theamount saved on auto insurance for retired military is 28% or $732.
The chart below demonstrates how deductibles can increase or decrease annual premium costs when getting quotes for cheap insurance for retired military. The data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied.
The chart above illustrates that a 40-year-old driver could lower their policy premium by $344 a year by switching from a $100 deductible up to a $500 deductible, or save $518 by using a $1,000 deductible. Young drivers, like the 20-year-old, could reduce their rates up to $1,126 annually by using a higher deductible.
When choosing a higher deductible, it is necessary to have enough spare savings to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Insurance rate increases from tickets or accidents
The ideal way to obtain cheap auto insurance prices in Florida for veterans is to be a good driver and not receive tickets or have accidents. The illustration below shows how violations and accident claims can impact yearly insurance costs for different categories of driver ages. The prices are based on a single male driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
In the prior example, the average cost of an auto insurance policy per year with a clean driving record and no accidents is $3,196. Receive one speeding ticket and the average cost increases to $3,601, an increase of $405 each year. Next add one accident along with the one speeding ticket and the annual cost of auto insurance for retired military increases to an average of $4,762. That’s an increase of $1,566, or $130 per month, just for not being a responsible driver!
What aren’t you shopping around?
Orlando, FL auto insurance rates are impacted by many things that will increase or decrease the price you have to pay. Simply having another birthday, increasing liability limits, or getting a DUI can cause premium changes resulting in some rates now being cheaper than before.
Not only may your risk profile change, but car insurance companies modify pricing as often as every quarter to adjust for gains or losses. Significantly higher claims may cause a rate increase, while lower claim expenses can result in cheaper Orlando car insurance rates.
To illustrate this example, the graph below analyzes the cheapest car insurance in Orlando, FL for a 40-year-old male driver with a clear driving record, no claims, and a decent credit rating. If we estimate rates based on his current risk factors, USAA might offer the most affordable car insurance rates in Orlando at $1,180 per year. This is $1,268 less than the average premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers round out the rest of the best Orlando, FL auto insurance companies.
Now we will give the driver from the first example a chargeable accident, slightly worse credit, and a stop sign violation. Due to the fact that every insurance company has their own formula to set their prices, analyzing rate quotes may now result in a substantially altered list of affordable Orlando car insurance companies as shown below.
USAA now has the lowest price in Orlando with Mercury, Esurance, State Farm, and GEICO now rounding out the top five. This example illustrates why Orlando drivers need to perform a complete rate comparison when trying to find affordable car insurance quotes for retired military.
Insurance prices can be determined by many different factors and change frequently, so the best option a year ago may now cost much more than other companies.