Life would sure be easier if we could just give you the name of the one best car insurance company that has the cheapest rate quotes in Texas. Unfortunately, it’s just not that easy, as there are a lot of unknowns such as citations or tickets, when you were born, and how far you drive each year, that all help calculate your car insurance rates. We know insurance is not everyone’s favorite topic, but in this article we will cover the types of things that cause high car insurance rates and will hopefully give you a good start to your coverage search.
One of the more important components that determine the amount you pay for auto insurance is where you choose to live in Fort Worth. More populated areas are more likely to pay higher prices, whereas less populated areas benefit from having to pay less for coverage.
The next table ranks the priciest cities in Texas for veterans to purchase auto insurance in. Fort Worth is ranked at #17 with an annual rate of $1,670 on average, which is around $139 each month.
|Rank||City||Average Per Year|
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Rates are comparative as the specific geographic location can alter auto insurance rates greatly.
The car, truck, or SUV to be insured is probably the most important factor when comparing affordable coverage for veterans. Vehicles with higher performance, poor safety features, or a track record of large liability claims will cost significantly more to insure than more economical and safe models. The information below showcases auto insurance prices for a selection of the more affordable automobiles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$932|
|Ford Escape XLS 4WD||$1,021|
|Honda Accord EX 4-Dr Sedan||$1,028|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,026|
|Chevrolet Impala LS||$1,087|
|Ford Focus SE 4-Dr Sedan||$1,093|
|Volkswagen Jetta S 4-Dr Sedan||$1,109|
|Toyota RAV4 Limited 2WD||$1,114|
|Ford Edge Sport 2WD||$1,167|
|Toyota Tacoma 2WD||$1,185|
|Honda Odyssey Touring||$1,187|
|Jeep Grand Cherokee SRT-8 4WD||$1,192|
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Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Premium amounts do not factor in specific zip code location which can change coverage prices noticeably.
Based upon these rates, cars like the Honda CR-V, Ford Escape, and Honda Accord are the most budget-friendly vehicles to insure for veterans.
Comparing rates for reasonably-priced auto insurance is not always easy, and determining which companies quote the cheapest car insurance rates for veterans will require even more diligence.
Every auto insurer uses their own method to determine rates, so we’ll take a look at the most affordable car insurance companies in Fort Worth.
Best Auto Insurance Prices for Vets
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,247|
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Travelers may offer some of the most affordable car insurance rates in Fort Worth at around $1,010 annually. This is $894 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also are some of the more affordable Fort Worth, TX car insurance companies.
In the rate table above, if you are a policyholder with Germania Mutual and switched to Travelers, you might realize a yearly savings of in the vicinity of $272. Texas drivers with California Casualty may save as much as $372 a year, and Esurance policyholders might see rate reductions of $397 a year.
These policy prices are averages across all drivers and vehicles and and are not calculated with a specific location for veterans. So the company that can offer you the best price may not even be in the top 23 companies shown above. That’s why you need to quote rates from many companies using your own driver and vehicle profiles.
Types of discounts on Fort Worth car insurance rates
Insurance providers that offer quotes for veterans could also offer premium discounts that may potentially lower prices by 35% or more if you are eligible. Larger car insurance companies and some of the premium reductions they offer are shown below.
- Progressive discounts include multi-vehicle, online quote discount, continuous coverage, good student, multi-policy, and homeowner.
- The Hartford may include discounts for bundle, good student, driver training, air bag, and vehicle fuel type.
- Mercury Insurance has savings for location of vehicle, low natural disaster claims, type of vehicle, multi-policy, and anti-theft.
- GEICO policyholders can earn discounts including good student, federal employee, emergency military deployment, defensive driver, and multi-policy.
- AAA offers discounts for anti-theft, AAA membership discount, pay-in-full, multi-car, education and occupation, and multi-policy.
- State Farm may offer discounts for good student, student away at school, Steer Clear safe driver discount, good driver, Drive Safe & Save, safe vehicle, and anti-theft.
The example below compares car insurance costs with and without discounts applied. The data is based on a female driver, no violations or accidents, Texas 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 accident-free, multiple policy, defensive driving course, multiple vehicle, passive restraint, and anti-theft discounts applied. With discounts applied, theamount saved on car insurance for veterans is 28% or $771.
Full coverage rates compared to liability only
Saving on car insurance should be important to the majority of people, and one of the best ways to pay less for insurance for veterans is to not pay for full coverage. The example below compares insurance prices with and without physical damage coverage. The costs are based on no claims or driving citations, $500 deductibles, marital status is single, and no discounts are factored in.
If averaged out across all ages, full coverage costs an extra $2,393 per year over having just liability coverage. Lot’s of drivers question if you should buy full coverage. There is no definitive guideline for phasing out comp and collision coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s settlement value is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $6,500 after you pay the deductible. If you are currently paying more than $650 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some cases where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.
Buying coverage from the right auto insurance provider is difficult considering how many companies sell coverage in Texas. The company rank data in the lists below may help you choose which providers you want to consider when shopping your coverage around. These ratings are only comprised of large insurance companies, so companies that only write business in Texas or surrounding areas are not taken into consideration for these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies