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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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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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®

UPDATED: May 22, 2020

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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


Does car insurance go up at 65? Actually, car insurance for people over 50-years-old can be less expensive than policies for younger drivers. Does car insurance go up at 65?

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 car insurance coverage.

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Mature drivers should also ask about discounts that may be available to them.

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 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.

Low Premium Rates

Car insurance buyers who are mature adults 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.

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 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 car insurance coverage.

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

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Free Car Insurance Comparison

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

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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.

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.

Shop Around for the Best Rates

What is the best car insurance for seniors? Who has the cheapest car insurance for seniors? 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. 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.

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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