The make and model of vehicle that needs insurance is a significant factor when quoting low-priced auto insurance for retired military. Vehicles with high performance features, a lack of safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer models. The next table illustrates car insurance rates for some of the most cost-effective automobiles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Volkswagen Jetta S 2.5 Station Wagon | $1,551 |
| Honda Accord EX-L 4-Dr Sedan | $1,556 |
| Hyundai Elantra SE Touring Station Wagon | $1,551 |
| Ford Escape XLT 2WD | $1,561 |
| Honda CR-V EX-L 4WD | $1,596 |
| Ford Explorer Eddie Bauer 2WD | $1,606 |
| Jeep Wrangler Sahara 4WD 2-Dr | $1,596 |
| Dodge Grand Caravan SE | $1,601 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,685 |
| Nissan Altima 2.5 4-Dr Sedan | $1,688 |
| Toyota Prius | $1,782 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,812 |
| Jeep Grand Cherokee Limited 4WD | $1,817 |
| Ford F-350 XLT Super Cab 2WD | $1,844 |
| Chevrolet Equinox LT AWD | $1,847 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,885 |
| Ford F-150 SVT Raptor Super Cab 4WD | $1,892 |
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Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Premium costs do not factor in specific location information which can decrease or increase prices noticeably.
Based on these rates, models like the Volkswagen Jetta, Honda Accord, Hyundai Elantra, and Ford Escape will be the most affordable vehicles to insure for veterans.
One of the more important things that help determine auto insurance rates is the neighborhood you call home in Jersey City. Areas with increased crime or more people tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The table below sorts the priciest cities in New Jersey for retired military to purchase auto insurance in. Jersey City is ranked at #10 with an annual rate of $2,276 for the average insured, which is around $190 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | West New York | $2,531 |
| 2 | Newark | $2,522 |
| 3 | East Orange | $2,521 |
| 4 | Paterson | $2,472 |
| 5 | Hoboken | $2,377 |
| 6 | Elizabeth | $2,374 |
| 7 | Passaic | $2,371 |
| 8 | Union City | $2,354 |
| 9 | Clifton | $2,345 |
| 10 | Jersey City | $2,276 |
| 11 | Bayonne | $2,274 |
| 12 | Kearny | $2,266 |
| 13 | Camden | $2,221 |
| 14 | Linden | $2,163 |
| 15 | Fort Lee | $2,144 |
| 16 | Perth Amboy | $2,102 |
| 17 | Atlantic City | $2,086 |
| 18 | Hackensack | $1,980 |
| 19 | Plainfield | $1,956 |
| 20 | Sayreville | $1,920 |
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Table data uses approximated as the specific garaging location can increase or decrease prices considerably.
Establishing which insurers offer the cheapest insurance rates for retired military involves more time in order to find the lowest price quote.
Every insurance company has a different process for determining rates, so let’s examine the insurance companies with the overall cheapest rates in Jersey City. It’s important to understand that Jersey City, NJ insurance rates are impacted by many factors which can significantly increase or decrease the cost of your policy. Simply having a birthday, buying a new vehicle, or having an at-fault accident may generate price changes resulting in some rates now being cheaper in comparison to the competition.
Cheapest Insurance Rates for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | 21st Century | $1,078 |
| 2 | Travelers | $1,145 |
| 3 | New Jersey Manufacturers | $1,297 |
| 4 | Palisades | $1,341 |
| 5 | Penn National | $1,366 |
| 6 | California Casualty | $1,451 |
| 7 | The Hartford | $1,521 |
| 8 | Allstate | $1,523 |
| 9 | USAA | $1,585 |
| 10 | Mercury | $1,587 |
| 11 | Amica | $1,869 |
| 12 | Esurance | $1,894 |
| 13 | Progressive | $1,938 |
| 14 | MetLife | $2,010 |
| 15 | State Farm | $2,160 |
| 16 | GEICO | $2,196 |
| 17 | Encompass | $2,327 |
| 18 | Liberty Mutual | $3,008 |
| 19 | Hanover | $4,027 |
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21st Century has some of the cheapest car insurance rates in Jersey City at around $1,078 per year. Travelers, New Jersey Manufacturers, Palisades, and Penn National would also make the list of some of the cheaper Jersey City, NJ auto insurance companies.
As illustrated above, if you are insured with Palisades and switched to 21st Century, you may see a yearly savings of around $263. Customers with Penn National could save as much as $288 a year, and California Casualty customers might lower prices by $373 a year.
To find the cheapest rates for your vehicle, click here to get a free quote or quote prices from the following companies.
These premiums are averages for all types of drivers and the different vehicles they drive and do not factor in an exact location for retired military. So the insurer that fits your situation best may not even be in the top 19 companies in the list above. That is why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
Ratings for New Jersey insurance companies
Choosing the right car insurance provider can be difficult considering how many choices drivers have in Jersey City. The ranking data shown below could help you decide which auto insurers to look at when comparing rates.
These ratings are for large, nationwide insurance companies, so companies with more of a regional focus will not be included in these rankings. To view rates and find the cheapest rates for retired military, follow this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Mercury Insurance | 87 | 96 | 100 | 87% | A+ | 93.4 |
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| 21st Century | 85 | 85 | 91 | 89% | A | 86.9 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Nationwide | 71 | 90 | 93 | 83% | A+ | 84.9 |
| Allstate | 69 | 92 | 92 | 83% | A+ | 84.4 |
| American Family | 77 | 96 | 80 | 85% | A | 83.8 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Full coverage rates vs. liability-only
Saving money on insurance is important to most drivers, and a great way to find cheap insurance for retired military is to not insure for full coverage. The diagram below illustrates the difference between insurance rates with and without full coverage. Data assumes no claims or driving violations, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
On average, full coverage costs $2,257 per year more than carrying just liability coverage. Many drivers may wonder when is it safe to stop buying full coverage. There is no exact formula that is best for determining when to drop physical damage coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
For example, let’s assume your vehicle’s replacement value is $5,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,500 after paying your deductible. If you are paying more than $450 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are a few situations where buying only liability insurance is not in your best interest. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.
The diagram below illustrates how your choice of deductibles can increase or decrease premium costs when quoting cheap insurance for retired military. The data assumes a married female driver, comp and collision included, and no discounts are taken into consideration.
A 50-year-old driver could pocket $328 a year by increasing from a $100 deductible to a $500 deductible, or save $496 by using a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could save $814 or more by using higher deductibles when buying full coverage.
If you do make the decision to raise your deductibles, it is necessary to have enough funds in savings to be able to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
The insurance agencies below can most likely answer your questions and help you decide which auto insurance coverages would be the best in your situation, as some people prefer to have a consultation when comparing insurance rates for retired military. It can be time-consuming to find the best rates on your own, so getting advice from a licensed New Jersey insurance agent can bring comfort knowing your policy gives you adequate protection in case of an accident or claim. To find an agent nearest to you, click the button following the list.
- Farmers Insurance – Karima Panjwani
591 Summit Ave – Jersey City, NJ 07306 – (201) 793-7525 - GG Insurance – Independent Insurance Agent
270 Marin Boulevard, Metropolis Towers Suite #14D – Jersey City, NJ 07302 – (800) 801-0394 - ABL Insurance Services
910 Bergen Ave # 307 – Jersey City, NJ 07306 – (201) 222-1314 - Alberto Santana – State Farm Insurance Agent
1755 John F. Kennedy Blvd – Jersey City, NJ 07305 – (201) 332-3344 - Tawanda Jackson – State Farm Insurance Agent
688 NJ-440 – Jersey City, NJ 07305 – (201) 209-0290
View more Jersey City, NJ insurance agents
How to find budget-friendly insurance for retired military
The list below shows some of the recommended penny-pinching solutions that can help Jersey City drivers quote cheap auto insurance.
- Good credit can mean cheaper rates
- Maintain a clean driving record
- Vehicles with good safety ratings have lower liability rates
- Older vehicles may not need full coverage
- Higher physical damage deductibles lower rates
- At-fault accidents will increase rates
- Compare rates and switch if you can find a better deal
The last tip in the list is incredibly necessary, as was emphasized in this article. Car insurance prices change constantly, so don’t hesitate to buy from a different company if a lower price can be found. Many drivers prefer to stick with one company, but is isn’t recommended if that faithfulness ends up costing you money that could be used for better things. Take a few minutes and compare prices to find cheaper insurance for retired military in Jersey City.