Deciphering which companies quote the cheapest auto insurance rates for veterans requires more work in order to find the lowest price quote.
Each auto insurer has a different formula for filing rates in each state, so let’s rank the auto insurance companies that tend to have lower prices in Oakland. It’s important to know that Oakland, CA auto insurance rates are calculated based on many things that will increase or decrease the price of your policy. Turning one year older, adding a teenager to your policy, or having an accident can produce rate changes that may make certain companies more affordable than before.
Lowest Insurance Price Quotes for Vets
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,109 |
| 2 | Century National | $1,178 |
| 3 | Wawanesa | $1,181 |
| 4 | CSAA | $1,198 |
| 5 | Nationwide | $1,213 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,491 |
| 8 | Allstate | $1,497 |
| 9 | Progressive | $1,512 |
| 10 | GEICO | $1,513 |
| 11 | Mercury | $1,533 |
| 12 | Allied | $1,556 |
| 13 | MetLife | $1,590 |
| 14 | The Hartford | $1,623 |
| 15 | State Farm | $1,682 |
| 16 | Unitrin | $1,699 |
| 17 | Esurance | $1,756 |
| 18 | Bristol West | $1,777 |
| 19 | Travelers | $1,842 |
| 20 | Farmers | $2,006 |
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USAA offers some of the best car insurance rates in Oakland at around $1,109 each year. Century National, Wawanesa, CSAA, and Nationwide also make the cut as some of the best Oakland, CA insurance companies.
In the above example, if you currently have coverage with Nationwide and switched to Century National, you may see a yearly savings of in the neighborhood of $35. Policyholders with 21st Century may save as much as $188 a year, and Grange customers might realize rate reductions of up to $313 a year.
To get a quick, customized rate comparison, click here to start your free quote or visit several of the following companies.
Bear in mind that those premium estimates are averaged for all types of insureds and vehicles and and are not figured with a vehicle location for veterans. So the auto insurance company that fits your needs best may not even be in the list above. That is why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
The car, truck, or SUV on the policy is a significant factor when quoting cheap insurance for veterans. Vehicles with more horsepower, a lack of modern safety features, or high incidents of liability claims will cost quite a bit more to insure than more economical and safe models.
The next table outlines auto insurance rates for some of the most cost-effective vehicles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $1,583 |
| Honda CR-V EX-L 4WD | $1,593 |
| Honda Accord LX 4-Dr Sedan | $1,596 |
| Chevrolet Impala LS | $1,642 |
| Honda Odyssey EX W/Rear Entertainment | $1,648 |
| Jeep Grand Cherokee Laredo 2WD | $1,674 |
| Toyota Prius | $1,719 |
| Ford Explorer XLT AWD | $1,730 |
| Ford F-150 STX Super Cab 2WD | $1,754 |
| Ford Edge SEL 2WD | $1,794 |
| GMC Sierra SLE Extended Cab 4WD | $1,803 |
| Jeep Wrangler Unlimited Sahara 4WD 4-Dr | $1,813 |
| Volkswagen Jetta 2.0T Station Wagon | $1,818 |
| Toyota RAV4 Limited 4WD | $1,832 |
| Dodge Grand Caravan Hero | $1,842 |
| Toyota Tacoma 2WD | $1,840 |
| Chevrolet Malibu LS | $1,883 |
| Chevrolet Equinox LS AWD | $1,892 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,893 |
| Toyota Camry Hybrid | $1,915 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,920 |
| Ford Focus SES 4-Dr Sedan | $1,928 |
| Toyota Camry SE | $1,931 |
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Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Estimates do not factor in specific location which can affect prices greatly.
Looking at the numbers, you can see that cars like the Ford Escape, Honda CR-V, Honda Accord, and Chevrolet Impala will definitely be some of the most budget-friendly vehicles to insure for veterans.
Full coverage rates compared to liability only
Reducing premiums for auto insurance is the goal of most vehicle owners, and one of the easiest ways to find cheap insurance for veterans is to buy only liability coverage. The example below shows the difference between insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in California. The costs are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no discounts are factored in.
If averaged for all ages, full coverage on your policy costs $2,525 per year more than carrying just liability coverage. That is a big expense that brings up the question if buying full coverage is a good investment. There is no exact formula of when to phase out physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
There are some scenarios where eliminating full coverage is not financially feasible. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not consider dropping full coverage.
The diagram below shows how different deductible levels can increase or decrease insurance premiums when researching cheap insurance for veterans. The prices are based on a married female driver, full physical damage coverage, and no other discounts are factored in.
The chart above illustrates that a 50-year-old driver could pocket $360 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $544 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old, could possibly save up to $896 each year just by choosing higher deductibles. When increasing deductibles, it will be important to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
How to find economical auto insurance for veterans
Here are a few money-saving solutions that can help Oakland drivers find lower-cost auto insurance.
- Vehicles with safetly features generally cost less to insure
- Violations like speeding or DUI increase rates
- If possible, pay for small claims out-of-pocket
- Accidents can significantly increase rates
- Bundle home and auto and save
- Shop around and save
That last idea is incredibly necessary, as we hit on in the prior article. Auto insurance rates in Oakland can change considerably based on profitability, so don’t be tentative to switch to a new company if a better deal can be had.
Having brand loyalty is commendable, but it isn’t a good idea if your bullheadedness ends up costing you a lot of money. If you have a few minutes, now is a great time to compare rates to find cheaper insurance for veterans.