Deciphering which company has the most affordable car insurance rates for retired military will require a little more work in order to find the best policy. Each company uses a different method to determine rates, so let’s rank the car insurance companies that tend to have lower prices in Fort Wayne, IN.
It’s important that you understand Indiana car insurance rates are based on many factors that can increase the price you pay for coverage. Simply having another birthday, marrying your spouse, or getting caught speeding may prompt premium changes that can now make some companies more affordable than competitors.
Best Insurance Companies for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | USAA | $667 |
| 3 | Cincinnati Insurance | $678 |
| 4 | Erie | $712 |
| 5 | Indiana Farmers Mutual | $849 |
| 6 | Western Reserve | $864 |
| 7 | The Hartford | $881 |
| 8 | Auto-Owners | $906 |
| 9 | Nationwide | $940 |
| 10 | Safeco | $973 |
| 11 | Motorists Mutual | $986 |
| 12 | State Farm | $987 |
| 13 | Utica National | $995 |
| 14 | Hastings Mutual | $1,013 |
| 15 | Farmers | $1,053 |
| 16 | Wolverine Mutual | $1,072 |
| 17 | State Auto | $1,087 |
| 18 | Westfield | $1,094 |
| 19 | GEICO | $1,100 |
| 20 | Progressive | $1,128 |
| Get Personalized Rates Go | ||
Travelers may have some of the lowest car insurance rates in Fort Wayne at around $620 each year. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual would also make the list of some of the cheaper Fort Wayne, IN insurance companies.
As depicted above, if you are insured with Indiana Farmers Mutual and switched to USAA, you might achieve a yearly price reduction of in the neighborhood of $182. Insureds with Western Reserve might save as much as $197 a year, and The Hartford policyholders might see rate reductions of $214 a year.
Bear in mind that those rates are averages for all ages of drivers and types of vehicles and and are not calculated with a specific location for retired military. So the car insurance company that is best for you may not even be in the list above. That underscores the importance of why you need to get car insurance quotes using your own personalized driver profile and vehicle information.
The vehicle model that needs insurance is a large factor that determines if you can find low-priced coverage for retired military. Vehicles with lots of horsepower, poor crash test ratings, or a track record of large liability claims will cost significantly more to insure than more economical and safe models.
The information below estimates auto insurance premiums for a number of the cheapest vehicles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Jeep Wrangler Sport 4WD 2-Dr | $975 |
| Ford Escape XLS 2WD | $1,034 |
| Honda CR-V LX 4WD | $1,043 |
| Toyota Tacoma 2WD | $1,096 |
| Honda Odyssey EX | $1,106 |
| Dodge Grand Caravan Hero | $1,118 |
| Toyota RAV4 Limited 4WD | $1,125 |
| Ford F-150 FX4 4WD | $1,139 |
| Chevrolet Malibu LT | $1,148 |
| Toyota Prius | $1,148 |
| Honda Civic LX 4-Dr Sedan | $1,157 |
| Ford Edge Sport AWD | $1,179 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,199 |
| Kia Optima LX | $1,209 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,201 |
| Find Cheaper Rates Go | |
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Estimates do not factor in specific garaging location which can increase or decrease price quotes noticeably.
Looking at the numbers, you can see that vehicles like the Jeep Wrangler, Ford Escape, Honda CR-V, and Toyota Tacoma are a few of the most economical vehicles to insure for veterans.
For veterans, one of the big factors that help determine insurance cost is your address in Fort Wayne. Cities with more crime and/or more people will most likely pay more, whereas less populated areas get the luxury of paying less.
The information below sorts the highest-priced places in Indiana for retired military to purchase auto insurance in. Fort Wayne comes in at #15 with the yearly price of $976 for the average policyholder, which is approximately $81 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Gary | $1,347 |
| 2 | Hammond | $1,314 |
| 3 | Portage | $1,104 |
| 4 | Merrillville | $1,095 |
| 5 | Evansville | $1,087 |
| 6 | Jeffersonville | $1,070 |
| 7 | Terre Haute | $1,067 |
| 8 | Lawrence | $1,066 |
| 9 | Indianapolis | $1,060 |
| 10 | Kokomo | $1,031 |
| 11 | Anderson | $1,031 |
| 12 | New Albany | $1,028 |
| 13 | Elkhart | $995 |
| 14 | Bloomington | $988 |
| 15 | Fort Wayne | $976 |
| 16 | Greenwood | $969 |
| 17 | Richmond | $964 |
| 18 | Noblesville | $958 |
| 19 | South Bend | $956 |
| 20 | Columbus | $955 |
| 21 | Fishers | $954 |
| 22 | Mishawaka | $936 |
| 23 | Carmel | $929 |
| 24 | Muncie | $927 |
| 25 | Lafayette | $890 |
| Quote Best Rates Go | ||
Information shown are estimated as zip code location can modify coverage rates significantly.
Full coverage rates vs. liability-only
Paying less for car insurance is the goal of the majority of people, and one common way to pay less for insurance for retired military is to buy liability only. The example below shows the difference between car insurance costs with full physical damage coverage compared to only buying liability only. The prices are based on no violations or accidents, $100 deductibles, drivers are single, and no discounts are factored in.
If we average the cost for ages 20 through 70, comprehensive and collision coverage on your policy costs $1,613 per year more than buying just liability insurance. Many drivers will wonder if it’s worth it to buy full coverage. There is no definitive rule to stop paying for full coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
There are some conditions where dropping physical damage coverage is not financially feasible. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Buying coverage from the best car insurance provider can be rather challenging considering how many companies sell coverage in Fort Wayne. The ranking information in the next section can help you pick which auto insurers you want to consider comparing rates with. The ratings below are only comprised of large nationwide companies, so companies that focus mainly on Indiana business are not taken into consideration for the list.
Top 10 Large Car Insurance Companies Overall in Fort Wayne
- USAA
- 21st Century
- GEICO
- Nationwide
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- Travelers
- American Family
Top 10 Large Car Insurance Companies in Fort Wayne Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- Allstate
- 21st Century
- Travelers
Here’s why price comparisons are so important
Indiana car insurance rates are impacted by many factors which can substantially decrease or increase the price you have to pay for coverage. Improving your credit rating, having a claim, or getting a driving violation can trigger changes in premium resulting in some rates now being much cheaper than others.
Also, car insurance companies amend premium rates without warning in order to be able to pay unexpected claims. Significantly higher losses may cause higher rates, while long-term profits can produce more affordable Fort Wayne car insurance rates.
To illustrate this example, the graph below compares the cheapest car insurance in Fort Wayne, IN for a 35-year-old female driver with no accidents, a clean driving record, and a high credit rating. If we estimate rates based on her personal profile, Travelers quotes the lowest car insurance rates in Fort Wayne at $679 a year. This is $561 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are the remainder of the cheapest Fort Wayne, IN auto insurance companies.
Now we will pretend the driver in the first example an accident claim, bad credit, and a speeding ticket. Due to the fact that each insurance company has their own guidelines for determining rates, analyzing rate quotes may now show a different set of the cheapest companies as shown below.
Indiana Farmers Mutual now has the cheapest price in Fort Wayne with Auto-Owners, USAA, Cincinnati Insurance, and State Farm also having competitive pricing. This example illustrates why it is so important to compare lots of rates to find the lowest car insurance rates for retired military.
Prices are influenced by many factors and can decrease or increase without notice, so the best company the last time you shopped around may now not even be in the top five.
If you aren’t sure which coverage you need and prefer to get help from a professional when comparing insurance rates for retired military, the agencies below can help you decide which coverage meets your needs best. To locate a Fort Wayne car insurance agency close to where you live, click the button at the bottom or click here to get price quotes now.
- G A MacDonald Associates
2200 Lake Ave #120 – Fort Wayne, IN 46805 – (260) 422-5377 - Connie Stickler – State Farm Insurance Agent
7105 Old Trail Rd – Fort Wayne, IN 46809 – (260) 747-2626 - W.C. Starks – State Farm Insurance Agent
3818 S Calhoun St – Fort Wayne, IN 46807 – (260) 744-4357 - Valentine White-Xayarath – State Farm Insurance Agent
5533 S Anthony Blvd – Fort Wayne, IN 46806 – (260) 447-1074 - Allstate Insurance: Justin Harkelroad
8812 Coldwater Rd – Fort Wayne, IN 46825 – (260) 489-0156