You have seen the catchy commercials from auto insurance companies like Nationwide, Progressive, and Allstate claiming the cheapest price. So you just need to choose the one with the best commercial, right?
It’s not that simple, unfortunately, as there are a whole slew of unknowns like if you need full coverage or liability-only, how old you are, whether you are male or female, and if you are a homeowner. We know insurance is not everyone’s favorite topic, but in this article we will cover some of these topics and should give you a good start in finding the cheapest insurance in Arlington.
For veterans, one of the big factors that determine insurance cost is the neighborhood you call home in Arlington. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas less populated areas can boast about having cheaper rates.
The following table sorts the highest-priced places in Texas for veterans to buy an auto insurance policy in. Arlington is ranked at #14 costing $1,709 for the average policy, which is around $142 each month.
|Rank||City||Premium Per Year|
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Rates are comparative as the specific Arlington residence address can raise or lower coverage prices significantly.
The type of vehicle that needs insurance is one of the primary factors in finding the cheapest insurance for veterans. Vehicles with lots of speed or power, a lack of modern safety features, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models.
The table below showcases auto insurance prices for a number of the most budget-friendly automobiles to insure in Texas.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$988|
|Ford Explorer XLT 4WD||$1,079|
|Honda Accord LX 4-Dr Sedan||$1,106|
|Chevrolet Impala LS||$1,119|
|Ford Focus S 4-Dr Sedan||$1,128|
|Ford Escape XLT 4WD||$1,130|
|Toyota RAV4 Sport 2WD||$1,139|
|GMC Sierra SL Extended Cab 2WD||$1,145|
|Toyota Camry LE||$1,139|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,161|
|Dodge Ram Quad Cab ST 2WD||$1,164|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,182|
|Hyundai Elantra SE 4-Dr Sedan||$1,197|
|Ford Fusion SEL 4-Dr Sedan||$1,219|
|Ford F-150 Lariat King Ranch 2WD||$1,229|
|Dodge Grand Caravan CV||$1,237|
|Hyundai Sonata SE 4-Dr Sedan||$1,282|
|Volkswagen Jetta S 4-Dr Sedan||$1,304|
|Toyota Camry Hybrid||$1,310|
|Jeep Grand Cherokee Laredo 2WD||$1,304|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Table data does not factor in specific location which can decrease or increase auto insurance rates substantially.
Based upon the table data, we can expect cars like the Honda CR-V, Ford Explorer, Honda Accord, Chevrolet Impala, and Ford Focus are the cheaper vehicles to insure for veterans.
Does it make sense to buy full coverage?
Finding cheaper auto insurance is probably important to most vehicle owners, and a good way to pay less for insurance for veterans is to not buy comprehensive and collision coverage. The information below illustrates the comparison of insurance costs with full coverage compared to only the Texas minimum liability coverage. The premiums are based on a clean driving record, no claims, $1,000 deductibles, single status, and no additional discounts are factored in.
As an overall average, physical damage coverage costs $2,131 per year more than just buying liability only. Many people question when is it safe to stop buying full coverage. There is no definitive rule to exclude physical damage coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
The example below shows how different deductible levels can affect insurance premiums when trying to find cheap insurance for veterans. Data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
The chart above illustrates that a 40-year-old driver could lower rates by $426 a year by increasing from a $100 deductible up to a $500 deductible, or save $638 by changing to a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could roll back prices up to $1,414 or more by choosing a higher deductible. When increasing deductibles, it is essential to have plenty of savings on hand to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Discount Arlington auto insurance
Insurers that provide policies for veterans may also offer price discounts that can lower rates by as much as 25% or more if you are eligible to receive them. Large auto insurance companies and some of the discounts include:
- GEICO may have discounts that include air bags, good student, defensive driver, anti-lock brakes, and membership and employees.
- MetLife has savings for good student, defensive driver, accident-free, good driver, and claim-free.
- State Farm offers discounts for good student, passive restraint, Drive Safe & Save, driver’s education, multiple autos, and good driver.
- Progressive has discounts for online quote discount, good student, online signing, continuous coverage, and multi-policy.
- Mercury Insurance offers discounts including anti-theft, annual mileage, accident-free, low natural disaster claims, type of vehicle, professional/association, and age of vehicle.
- 21st Century may include discounts for anti-lock brakes, good student, air bags, driver training, automatic seat belts, and student driver.
- Allstate may offer discounts for teenSMART discount, anti-theft, safe driver, good student, and anti-lock brakes.
The diagram below visualizes the comparison of insurance costs with and without discounts applied to the rates. The premium estimates are based on a male driver, no claims, a clean driving record, Texas state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple policy, defensive driving course, accident-free, marriage, claim-free, and anti-theft discounts applied. In this example, theamount saved on auto insurance for veterans is 28% or $552.
What aren’t you shopping around?
Arlington auto insurance rates are impacted by many factors which can substantially decrease or increase your annual premium. Improving your credit score, buying higher coverage limits, or getting a ticket for running a stop sign may cause policy rate changes that can now make some companies cheaper in comparison to the competition.
And not only may your rating factors change, but companies change premium rates at least once a year to help ensure profitability. Higher than normal claims can cause additional premium costs, while lower claims may result in cheaper Arlington car insurance rates.
For example, the bar chart below shows which company has the cheapest car insurance in Arlington, TX for a 40-year-old male driver with a good driving record, no prior claims, and excellent credit. If we look at prices based on his current rating profile, Travelers offers the cheapest car insurance rates in Arlington at $1,161 a year. This is $743 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty round out the rest of the cheapest Arlington, TX auto insurance companies.
Let’s now give the driver from the first example some claims, a lower credit rating, and a couple of points charged on his driving record. Because each company has their own process for establishing rates, comparing prices could now result in a slightly different list of affordable Arlington car insurance companies as shown below.
Mercury now has the best insurance rate in Arlington with USAA, State Farm, Safe Auto, and Nationwide now being in the top five. This shows why it is critical to take the time to shop around to find the most economical insurance rates for veterans.
Rates are calculated by many things and change frequently, so the best option three years ago may now be costing you a lot of money.