The vehicle model you are insuring is one of the largest factors when comparing quotes for the best cheap coverage for veterans. Vehicles with high performance engines, poor safety ratings, or high incidents of liability claims will cost substantially more to insure than more economical and safe models. The table below shows car insurance prices for some of the more affordable automobiles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$4,735|
|Ford Escape XLT 2WD||$5,074|
|Ford F-150 STX Super Cab 2WD||$5,084|
|Toyota Tacoma 4WD||$5,186|
|Ford Explorer XLT AWD||$5,192|
|Dodge Grand Caravan CV||$5,186|
|Honda Civic DX 4-Dr Sedan||$5,380|
|Chevrolet Impala LT||$5,482|
|GMC Sierra SLE Regular Cab 2WD||$5,490|
|Ford Edge Sport 2WD||$5,778|
|Nissan Rogue S AWD||$5,880|
|Volkswagen Jetta SE 4-Dr Sedan||$5,885|
|Chevrolet Silverado LS Regular Cab 2WD||$5,977|
|Chevrolet Equinox LT 2WD||$6,006|
|Toyota RAV4 Limited 2WD||$6,014|
|Chevrolet Malibu Hybrid||$6,181|
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Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Price information does not factor in specific zip code location which can influence coverage prices considerably.
Looking at the numbers, models like the Honda CR-V, Ford Escape, Ford F-150, and Toyota Prius should be the most budget-friendly vehicles to insure for veterans.
Deciphering which companies quote the cheapest auto insurance rates for veterans requires a little more work than just getting one or two price quotes. Each auto insurance company has their own formula for setting prices, so let’s examine the auto insurance companies with the overall best prices in Michigan.
Best Auto Insurance Prices for Vets
|Rank||Company||Cost Per Year|
|7||Pioneer State Mutual||$1,488|
|18||Auto Club Group||$2,489|
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USAA quotes some of the best car insurance rates in Detroit at around $949 per year. GEICO, Safeco, MetLife, and Chubb also make the cut as some of the most economical Detroit, MI car insurance companies.
As depicted above, if you have coverage with MetLife and switched to GEICO, you could earn savings of approximately $371. Michigan drivers with Chubb could save as much as $393 a year, and MEEMIC policyholders might cut rates by $443 a year.
It’s important to note that these premium estimates are averaged for all types of insureds and vehicles and do not take into consideration an exact vehicle garaging location for veterans. So the company that can offer you the best price may not even be in the top 30 companies shown above. That illustrates why you need to compare prices as often as possible using your own specific driver and vehicle information.
One of the many considerations that are looked at to help calculate the cost of insurance is where your car is garaged in Detroit. Areas with more people or more claims tend to pay slightly more, whereas areas with less people or fewer weather incidents have the benefit of cheaper car insurance.
The information below sorts the highest-priced places in Michigan for veterans to purchase car insurance in. Detroit ranks #1 with an annual cost of $4,960 on average, which is approximately $413 monthly.
|Rank||City||Premium Per Year|
|11||St. Clair Shores||$2,792|
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Premium amounts are comparative as the vehicle garaging location can influence price quotes significantly.
How to get discounts on Detroit auto insurance
Car insurance companies that offer quotes for veterans may also give you rate discounts that may potentially lower prices by as much as 35% if you are eligible. Larger auto insurance companies and the discounts they provide are included below.
- GEICO has savings for anti-lock brakes, defensive driver, military active duty, air bags, and membership and employees.
- Travelers may include discounts for continuous insurance, early quote, good student, multi-car, and save driver.
- Nationwide offers premium reductions for good student, defensive driving, family plan, business or organization, accident-free, and Farm Bureau membership.
- Farmers Insurance offers discounts for bundle discounts, mature driver, business and professional, alternative fuel, and teen driver.
- Esurance policyholders can earn discounts including homeowner, multi-policy, online shopper, anti-lock brakes, good student, emergency road assistance, and paid-in-full.
- State Farm may have discounts that include good student, safe vehicle, multiple autos, Drive Safe & Save, driver’s education, Steer Clear safe driver discount, and good driver.
- Progressive discounts include online signing, homeowner, multi-vehicle, multi-policy, and continuous coverage.
- Mercury Insurance offers discounts including ease of repair, anti-theft, age of vehicle, good driver, professional/association, and type of vehicle.
The illustration below shows the comparison of insurance costs with and without some available policy discounts. The prices are based on a male driver, no driving violations, no at-fault accidents, Michigan state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with safe-driver, accident-free, marriage, defensive driving course, anti-theft, and passive restraint discounts applied. When drivers qualify for the discounts, theaverage amount saved on auto insurance for veterans is 28% or $1,349.
The diagram below demonstrates how choosing different deductibles can influence yearly insurance costs when quoting cheap insurance for veterans. The data assumes a single male driver, comp and collision included, and no discounts are applied to the premium.
The data above shows that a 30-year-old driver could pocket $862 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $1,296 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could lower their rates up to $2,562 or even more just by choosing higher deductibles when buying full coverage. When using a larger deductible, it will be important to have enough savings set aside to enable you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Compare quotes and save
Detroit, MI auto insurance rates are based on many factors that may substantially change your annual premium. Simply getting older, becoming a homeowner, or getting a ticket for careless driving may generate price changes that can make some companies more affordable than others. Not only may things change on your end, but companies change the rates they charge in Michigan every year or even multiple times each year to help ensure profitability. An unexpected high level of claims may result in more expensive premiums, while a better loss history can cause lower-priced Detroit car insurance rates.
The bar chart below shows rates for the cheapest car insurance in Detroit, MI for a 40-year-old female driver with no violations or accidents, and a decent credit rating. When quoting prices based on her current situation, USAA may have the lowest car insurance rates in Detroit at $2,372 each year. This is $21 less than the average price paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and Chubb are also on the list of the most affordable Detroit, MI auto insurance companies.
The chart below compares rates after we give the driver from the first rate comparison a claim surcharge, a lower credit rating, and a stop sign violation. Since each company has a proprietary formula to set premium rates, getting updated rate quotes could result in a substantially altered list of the cheapest companies as shown below.
GEICO now has the cheapest rate in Detroit, MI with Safeco, Pioneer State Mutual, USAA, and Hastings Mutual also being competitive. This example proves why it is so important to do a thorough rate comparison to get the most economical auto insurance quotes for veterans. Insurance rates are influenced by many factors and can decrease or increase without notice, so the best option a year ago may now be one of the more expensive options.
How to find budget-friendly auto insurance for veterans
The list below details some of the better money-saving solutions that can help you quote low-cost auto insurance.
- Good credit can save money
- Higher comprehensive and collision coverage deductibles will save money
- Drive safely
- Avoid accidents
- Drive a car with a high safety rating
- Shop around for cheaper prices
That final tip is incredibly significant, as we noted in this article. Coverage rates vary considerably, so you should be ready to change to a new company if a better deal can be had.
Many drivers have brand loyalty and that’s fine, but we do not recommend it if that dedication is costing lots of hard earned cash every month. In just a couple of minutes you could shop around and find cheaper auto insurance for veterans in Detroit.
If you aren’t sure which coverage you need and prefer to have a professional recommendation when comparing insurance rates for veterans, the agents listed below can help you make a decision which coverages you need. To locate a Detroit car insurance agency using an interactive map, click the button at the bottom of the list or click here to compare prices now.
22824 John R Rd – Hazel Park, MI 48030 – (248) 398-5200
Cosby Insurance Agy and Financial Services
10140 W McNichols Rd – Detroit, MI 48221 – (313) 864-3285
Kim-One Insurance Agency
11000 W McNichols Rd – Detroit, MI 48221 – (313) 397-4198
Look Insurance Detroit Southwest Agency
6724 Michigan Ave – Detroit, MI 48210 – (313) 899-3194
Charlotte Knight – State Farm Insurance Agent
7100 W Seven Mile Rd – Detroit, MI 48221 – (313) 340-9000