The vehicle model you are trying to insure is probably the largest consideration when looking for the cheapest auto insurance for veterans. Vehicles with more horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost much more to insure than more economical and safe models.
The data below features coverage costs for the most affordable automobiles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,246|
|Honda Accord EX 4-Dr Sedan||$1,253|
|Ford Escape XLT 2WD||$1,367|
|Ford Explorer XLT 4WD||$1,397|
|Hyundai Elantra GLS Touring Station Wagon||$1,410|
|Chevrolet Silverado LS Regular Cab 2WD||$1,475|
|Jeep Grand Cherokee Laredo 2WD||$1,485|
|Toyota Tacoma Double Cab 4WD||$1,475|
|GMC Sierra SL Extended Cab 2WD||$1,482|
|Toyota Camry LE||$1,475|
|Honda Civic EX 4-Dr Sedan||$1,528|
|Hyundai Sonata GLS 4-Dr Sedan||$1,581|
|Ford Fusion SEL 4-Dr Sedan||$1,583|
|Ford F-150 XL Regular Cab 4WD||$1,586|
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Table data does not factor in garaging location in Charlotte, NC which can decrease or increase price quotes significantly.
Based upon the table data, makes and models like the Honda CR-V, Honda Accord, Ford Escape, Ford Explorer, and Hyundai Elantra are likely to be some of the most economical vehicles to insure for veterans.
Shopping around for cheap insurance is easier said than done, and finding out which companies quote the lowest-priced insurance rates for veterans will require additional perseverance. Each auto insurer uses slightly different criteria to set policy rates, so let’s begin by taking a look at the overall cheapest insurance companies in Charlotte, NC.
It’s important that you understand Charlotte, NC insurance rates are based on many factors that will increase or decrease your annual premium. Things like having a birthday, becoming a homeowner, or getting a speeding ticket can trigger price changes that can now make some companies more affordable than the competition.
Find the Best Cheap Insurance for Vets
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$737|
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Progressive generally has some of the cheapest car insurance rates in Charlotte at around $632 per year. This is $240 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also rank well as some of the more affordable Charlotte, NC auto insurance companies.
As shown in the rates above, if you currently buy coverage from NC Farm Bureau and switched to Utica National, you might achieve a yearly savings of in the neighborhood of $94. Drivers with Penn National may save as much as $96 a year, and GEICO customers might reduce prices by as much as $107 a year.
Remember that these premium estimates are averaged for all drivers and vehicles and and are not figured with an exact location for veterans. So the auto insurance company that has the cheapest price for you may not even be in the top 20 companies in the list above. That illustrates why you need to compare rates from multiple companies using your own personalized driver profile and vehicle information.
For veterans, one of the largest criteria that determine the price you pay for insurance is where you keep your vehicle in Charlotte. More densely populated places tend to pay more, whereas areas with less congestion have the enjoyment of a little cheaper coverage.
The information below sorts the highest-priced areas in North Carolina for veterans to buy auto insurance in. Charlotte shows up at #3 with a yearly cost of $816 for the average policy, which is about $68 per month.
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Rate quotes are estimated as the specific area where the vehicle is garaged can lower or raise prices substantially.
Discounts on Charlotte auto insurance rates
Insurance providers that offer cheap quotes for veterans may also give you discounts that can lower rates by as much as 40% or more if you can meet the requirements. Larger insurance companies and a selection of discounts can be found below.
- American Family offers premium reductions for good student, early bird, good driver, mySafetyValet, TimeAway discount, and defensive driver.
- Farm Bureau has discounts for youthful driver, renewal discount, 55 and retired, multi-vehicle, safe driver, and driver training.
- State Farm policyholders can earn discounts including multiple autos, defensive driving training, student away at school, safe vehicle, good student, and accident-free.
- Travelers discounts include early quote, multi-policy, continuous insurance, student away at school, hybrid/electric vehicle, and good student.
- The Hartford may have discounts that include good student, air bag, vehicle fuel type, bundle, and driver training.
- GEICO may offer discounts for seat belt use, emergency military deployment, anti-theft, anti-lock brakes, multi-policy, federal employee, and air bags.
- Progressive offers discounts for multi-vehicle, online signing, online quote discount, continuous coverage, multi-policy, homeowner, and good student.
The information below illustrates the comparison of insurance costs with and without discounts applied. The rates are based on a female driver, a clean driving record, no at-fault accidents, North Carolina state minimum liability limits, full coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with marriage, safe-driver, passive restraint, multiple vehicle, defensive driving course, and vehicle safety discounts applied. When discounts are factored in, theaverage amount saved on insurance for veterans is 28% or $416.
The example below shows how choosing a deductible can impact insurance rates when researching cheap insurance for veterans. The data is based on a single female driver, full coverage, and no discounts are applied to the premium.
As shown above, a 30-year-old driver could pocket $314 a year by changing from a $100 deductible to a $500 deductible, or save $474 by using a $1,000 deductible. Youthful drivers, like the 20-year-old example, could reduce their rates $700 each year by using a higher deductible.
If you make the decision to raise deductibles, it will now be necessary to have enough in a savings account to allow you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Bad driving habits will cost you more
One of the best ways to enjoy the cheapest insurance premiums in North Carolina for veterans is to drive attentively and avoid traffic citations and accidents. The diagram below illustrates how speeding tickets and fender-benders can influence yearly insurance costs for different age groups. The premium estimates are based on a married female driver, full physical damage coverage, $250 deductibles, and no discounts are applied.
The data charted above shows the average cost of car insurance in Charlotte per year with no accidents and a clean driving record is $1,017. Factor in two speeding tickets and the average cost surges to $1,441, an increase of $424 each year. Then throw in one accident along with the two speeding tickets and the 12-month cost of insurance for veterans goes up to an average of $1,864. That’s an increase of $846, or $71 per month, just for not being attentive to the road!
The benefit of shopping around
North Carolina insurance rates are influenced by many factors that will increase or decrease the cost of your policy. Improving your credit score, having a claim, or getting into an accident can cause premium changes that can now make some companies cheaper than competitors.
In addition to those changes, insurance companies amend pricing without warning to help ensure profitability. Larger than normal claims may cause a rate increase, while long-term profits can result in cheaper Charlotte car insurance rates.
The data below demonstrates which company has the cheapest car insurance in Charlotte, NC for a 35-year-old female driver with a clean driving record, no accidents, and good financial standing. If we estimate rates based on her current risk profile, Progressive might offer the cheapest car insurance rates in Charlotte at $796 each year. This is $76 less than the average rate paid by North Carolina drivers of $872. Utica National, Penn National, Liberty Mutual, and GEICO are also on the list of the top five cheapest Charlotte, NC auto insurance companies.
Now we will give the driver from above a chargeable accident, a little lower credit rating, and an imperfect driving record. Since each auto insurer has their own guidelines to determine rates, analyzing rates may now show a different set of the cheapest companies as shown below.
Titan now has the best auto insurance rate in Charlotte with State Farm, Auto-Owners, National General, and Allied now rounding out the top five. This illustrates why it is so important to spend some time comparing rates when trying to find the best insurance rates for veterans.
Insurance prices are determined by many factors and change substantially, so the cheapest rate a year ago may now be one of the more expensive options.
If you would rather have some professional guidance when shopping for cheaper insurance for veterans, the agents below can probably provide answers to your questions and help you determine which coverages you need.
To find an auto insurance agency in your neighborhood, click the link at the bottom.
- Biggs Insurance Group
13850 Ballantyne Corporate Pl #500 – Charlotte, NC 28277 – (704) 369-5270
- Matt “Woody” Woodford – State Farm Insurance Agent
501 S Sharon Amity Rd #200 – Charlotte, NC 28211 – (704) 971-3030
- David Stroman – State Farm Insurance Agent
210 East Trade Street, C-340 – Charlotte, NC 28202 – (704) 332-1970
- Johnson Insurance Management, LLC
3220 Wilkinson Boulevard Ste A3 – Charlotte, NC 28208 – (704) 394-7327
- Pegram Insurance
4420 C The Plaza – Charlotte, NC 28215 – (704) 563-4343