The type of vehicle you are seeking coverage for is probably the biggest factor when shopping around for the most affordable car insurance for retired military. Vehicles with lower acceleration and performance, excellent safety ratings, or a low likelihood of liability claims will cost substantially less to insure than high performance models.
The information below outlines auto insurance costs for a handful of the most affordable vehicles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,326 |
| Hyundai Elantra GLS Touring Station Wagon | $1,331 |
| Honda CR-V EX 4WD | $1,361 |
| Ford Explorer XLT 4WD | $1,366 |
| Toyota Prius | $1,477 |
| Ford Edge Sport AWD | $1,517 |
| Dodge Grand Caravan CV | $1,520 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,526 |
| Honda Odyssey EX | $1,536 |
| Jeep Grand Cherokee Laredo 2WD | $1,571 |
| Chevrolet Malibu Hybrid | $1,580 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $1,603 |
| GMC Sierra SL Extended Cab 2WD | $1,606 |
| Toyota RAV4 4WD | $1,611 |
| Ford Focus SES 4-Dr Sedan | $1,617 |
| Nissan Rogue SL AWD | $1,622 |
| Kia Optima EX | $1,646 |
| Find Cheaper Rates Go | |
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Information does not factor in specific location which can raise or lower rates noticeably.
Looking at the numbers, you can expect cars like the Ford Escape, Hyundai Elantra, Honda CR-V, Ford Explorer, and Toyota Prius are going to be a few of the most affordable vehicles to insure for veterans.
For veterans, one of the big components that help determine auto insurance rates is where you normally keep your vehicle. Regions with larger populations or more claims will most likely pay more, whereas areas with less crime or weather claims have the luxury of cheap car insurance rates.
The next table ranks the most expensive areas in New Mexico for retired military to buy an auto insurance policy in. Albuquerque ranks #1 with the annual price of $1,417 on average, which is about $118 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Albuquerque | $1,417 |
| 2 | South Valley | $1,377 |
| 3 | North Valley | $1,329 |
| 4 | Santa Fe | $1,316 |
| 5 | Los Alamos | $1,308 |
| 6 | Rio Rancho | $1,294 |
| 7 | Artesia | $1,291 |
| 8 | Los Lunas | $1,289 |
| 9 | Espanola | $1,273 |
| 10 | Hobbs | $1,258 |
| 11 | Roswell | $1,210 |
| 12 | Lovington | $1,207 |
| 13 | Portales | $1,186 |
| 14 | Farmington | $1,183 |
| 15 | Carlsbad | $1,177 |
| 16 | Gallup | $1,176 |
| 17 | Clovis | $1,169 |
| 18 | Las Vegas | $1,160 |
| 19 | Deming | $1,121 |
| 20 | Las Cruces | $1,098 |
| Find Cheaper Rates Go | ||
Premium amounts are estimated as specific Albuquerque garaging address can raise or lower rates significantly.
Ending up with a highly-rated auto insurance provider can be difficult considering how many choices there are in New Mexico. The ranking data shown next can help you decide which companies you want to consider comparing price quotes from. The ratings below are only made up of the companies with a significant amount of written premium nationwide, so smaller companies that only insure vehicles in New Mexico are not taken into consideration for the list.
Top 10 Major Auto Insurance Companies in Albuquerque Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- Allstate – 88%
- 21st Century – 88%
- The General – 88%
Top 10 Major Auto Insurance Companies in Albuquerque Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- GEICO
- Liberty Mutual
- Allstate
- Titan Insurance
- The Hartford
- The General
The illustration below highlights how deductible selection can affect annual premium costs when researching cheap insurance for retired military. The data is based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.
The chart above illustrates that a 50-year-old driver could lower rates by $344 a year by switching from a $100 deductible to a $500 deductible, or save $518 by using a $1,000 deductible. Youthful drivers, such as the Age 20 example, have the ability to save as much as $884 or even more by choosing a higher deductible.
If you do make the decision to raise your deductibles, it is necessary to have plenty of savings on hand to be able to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Discount Albuquerque car insurance
Insurance companies that offer quotes for retired military could also offer discounts that can lower rates by 30% or more if you are eligible. A few of the larger companies and a selection of discounts are:
- GEICO offers premium reductions for multi-vehicle, driver training, good student, air bags, and five-year accident-free.
- Travelers includes discounts for good student, continuous insurance, multi-policy, save driver, driver training, home ownership, and hybrid/electric vehicle.
- Nationwide offers discounts for defensive driving, easy pay, Farm Bureau membership, family plan, accident-free, good student, and anti-theft.
- Farmers Insurance discounts include distant student, alternative fuel, early shopping, switch companies, bundle discounts, mature driver, and teen driver.
- Esurance may include discounts for Pac-12 alumni, paid-in-full, anti-theft, claim free, and emergency road assistance.
- State Farm may have discounts that include safe vehicle, defensive driving training, accident-free, anti-theft, driver’s education, passive restraint, and student away at school.
- Progressive may offer discounts for good student, online signing, continuous coverage, multi-vehicle, and multi-policy.
- Mercury Insurance offers discounts including location of vehicle, annual mileage, type of vehicle, low natural disaster claims, good driver, and multi-car.
The information below illustrates the difference between insurance rates with and without discounts applied to the premium. The information is based on a female driver, no claims or driving violations, New Mexico state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with marriage, vehicle safety, defensive driving course, anti-theft, accident-free, and claim-free discounts applied. When discounts are factored in, the average amount saved each year on insurance for retired military is 28% or $437.
How to find more affordable car insurance for retired military
Below you’ll find some thrifty solutions that can help drivers buy low-cost coverage.
- Accidents can significantly increase rates
- Safer vehicles generally have cheaper insurance rates
- Pay less by remaining claim-free
- Better credit scores save money
- Do not get tickets or violations
- Shop your coverage around for the best deal
The last item on the list is extremely critical, as was affirmed in the prior information. Prices charged by auto insurers change constantly, so don’t be hesitant to change to a new company if you can save money. Having brand loyalty is commendable, but is isn’t recommended if that devotion results in you overpaying thousands of dollars over several years. In less than five minutes you could compare rates to find cheaper insurance for retired military in Albuquerque.