Low Cost Car Insurance for Seniors

Low cost car insurance for seniors is often the result of lower premiums and discounts. If you are over 50 you should see a drop in your car insurance rates.

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

UPDATED: Apr 3, 2022

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Here's what you need to know...

  • If you are over 50, you should see a drop in your car insurance rates
  • Mature drivers are a lot less likely to get in accidents, so insurance companies often offer them lower prices for coverage
  • If you recently retired, inform your insurance carrier to see if you can receive an additional discount

Driver age is something a lot of insurance companies consider when pricing auto insurance policies. So does car insurance go up at 65? Some people could spend hours researching answers to this question, but actually, car insurance for people over 50-years-old can be less expensive than policies for younger drivers.

People in this age category may have several years of driving experience, and if they have clean driving records, they can qualify for lower rates on their auto insurance premiums. They can also sign up for any sort of senior driving program, which would also give them a chance to lower their rates.

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Mature drivers should also ask about any sort of auto insurance discount that may be available to them as well. Drivers can always join defensive driving courses or online driving courses, so that they can present their provider with a certificate of completion and receive a discount in return. Sitting through an online exam is a small price to pay if the results will end up saving a person money. Not to mention, those courses can also provide useful information in safe driving habits as well.

Paying for the premium once a year or buying the car insurance policy from the same company that holds the homeowner’s policy means savings to car insurance buyers.

Couples can also save money on the cost of their coverage by purchasing a single policy that lists both their names instead of separate ones for both of them. You can do this easily by contacting your provider’s customer support team and explaining that you’d like to make changes to your policy.

Do low premium rates exist for seniors?

Car insurance buyers who are mature adults and have safe driving practices can qualify for much lower rates than younger drivers who are interested in buying coverage.

In many cases, they have a number of years of experience behind the wheel to draw on. An auto insurance provider is going to look at not just how long someone has been driving, but also how good someone is behind the wheel.

If someone over the age of 50 has never been given a traffic ticket, or had any sort of traffic violation, they’re going to be regarded as a safe investment, and rewarded in kind. Versus someone over the age of 50 who has violated numerous traffic laws, who may end up seeing an increase in what they pay.

However, since people in this age group are less likely to make claims against their car insurance policies, they are considered low-risk for car insurance purposes.

The fact they have been driving for some time, have developed safe driving practices at this point in their life, and are much less likely to take risks while doing so means that a number of mature drivers can qualify for preferred pricing on their monthly auto insurance bill.

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Are there any senior discounts?

Do seniors get a discount on car insurance? There are a number of discounts available to senior drivers. Customers who have never made a claim against their car insurance policy should be able to get a discount on their coverage.

Ask if you can get a better price on the cost of your coverage by paying your premium annually. You can also ask if taking driving tests will help you save money too.

Paying for your coverage monthly may be more convenient, but it also means higher administrative costs for the insurance company.

These costs are passed along to you, the customer, in fees charged for paying for your coverage monthly.

If you can’t pay for your policy on a 12-month basis, ask if you can get a price break by paying for your coverage in six-month increments instead.

Couples can save money on the cost of their car insurance coverage by deciding to buy a single policy that covers all the vehicles in their household.

By combining coverage for multiple vehicles on a single policy, customers can take advantage of a discount offered by most car insurance providers.

If you ask for a quote for more than one vehicle on the same policy and you are not offered a price break, either ask whether this discount is available or move on to another company that will give it to you.

Buying your car insurance coverage from the same company that holds your home insurance policy is a savvy move.

Not only will you get a discount on your car insurance, but the company should also give you a price break on your house insurance as well. When you are looking for coverage, be sure to ask whether the companies you are considering offer multi-policy discounts.

So yes, a mature driver, or someone who falls into the senior category by being over a certain age, can find discounts available to them.

Should seniors shop around for the best rates?

What is the best car insurance for seniors? Who has the cheapest car insurance for seniors? There are a lot of questions that exist, and so the key to getting the best prices on car insurance coverage is to shop around.

Rates do vary, depending on the provider, for the same type and level of coverage. It all depends on what they look at – driving history and driver age are both common factors but may not render the same results. Spending some time online getting car insurance quotes can pay off at significantly lower rates for your coverage.

If you are retired or semi-retired, let your car insurance provider know.

It can help to save money on your car insurance premiums. A person who is spending less time behind the wheel because they are not commuting back and forth on weekdays can qualify for a low annual mileage discount on the cost of his or her car insurance coverage.

It’s a good idea to review your coverage at regular intervals.

This is true when looking at car insurance for senior customers as well as protecting those in younger age groups. As your needs change, so should your coverage.

An experienced driver can see lower rates, but it comes from knowing what to look for. If your current company isn’t offering you any sort of discounts, look at the customer reviews of other providers and see if you could save money with them instead. Make a point of going over your insurance policy at least once a year and be ready to make adjustments as necessary to make sure you have the level of protection you need.

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Enter your ZIP code below to view companies that have cheap car insurance rates.

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