Compare Senior Citizen Car Insurance Rates [2023]

It goes without saying that having car insurance is essential to drive in nearly all U.S. states. However, this doesn’t mean that you won’t pay top dollar just to have auto insurance as you age.

Many insurance companies charge higher rates for seniors, especially once they reach the age of 65. If you’re nearing this age and want to avoid paying higher auto insurance rates, there are some ways to receive affordable car insurance for seniors.

In this guide, we’ll explain everything you need to know about auto insurance for seniors and how you can get the best deal for your age.

Why is car insurance for seniors expensive?

Car insurance for seniors is often expensive because elderly drivers are more likely to be involved in an accident than younger drivers due to slower reflexes, weaker vision, and other age-related impairments.

Also, as people age, they may develop medical conditions that could lead to distracted or impaired driving.

Finally, senior citizens often drive fewer miles per year, so their car insurance rate can increase since there’s not enough data available on how much coverage they need. All these factors contribute to why car insurance for seniors can be expensive.

So, at what age does auto insurance for seniors become expensive? Generally, car insurance rates become more expensive when drivers reach age 65. However, some insurers may have different age thresholds for increased premiums.

It’s important to shop around and compare car insurance quotes from multiple companies to get the best rate possible.

There are also many ways seniors can lower their monthly rates, such as taking a defensive driving course or decreasing their coverage types. Additionally, some states offer discounts for seniors to help them save money on car insurance.

Overall, it’s crucial to remember that car insurance for seniors can be expensive, but knowing how to decrease your premium can help make it more affordable.

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What is the cheapest car insurance for seniors?

Finding the best car insurance rates for seniors doesn’t have to be difficult. The table below shows the cheapest average car insurance rates for seniors.

Shop around and get quotes from the above companies to find the cheapest car insurance for seniors.

How to Lower Your Car Insurance Rates

Regardless of the auto insurance company you choose, lowering your car insurance rate as a senior depends on your diligence. Here are several effective ways to receive discount car insurance for seniors.

Take a Driving Class

Many insurance companies lower premiums for senior drivers who take a defensive driving class.

Typically, seniors take the course at a local community college or department of motor vehicles, providing an opportunity to refresh their knowledge of road laws and brush up on safe driving practices.

When taking a driving class, here’s everything you need to know:

• Course topics. Generally, the classes focus on defensive driving strategies, including information about vehicle safety features and how to adjust driving habits to accommodate age-related changes in vision, reaction time, and other physical abilities.
• Cost. Driving courses typically cost between $10 and $30. Some companies may reimburse or waive their customers’ tuition fees if they complete a course successfully.
• Availability. Check with your local DMV for more information about when courses are available in your area and how you can register.
• Discount amount. Insurance discounts vary by company and state. Generally, seniors receive 10%–15% off their premiums after completing a driving course.

While it may seem like a hassle, a driving class is an excellent way for seniors to keep their car insurance rates low. With the right training and updated knowledge, older drivers can stay safe on the road and enjoy lower premiums.

Select a Car That’s Easy to Insure

Many auto insurance companies offer discounts for certain types of cars. Look for one that’s considered safe and widely available to find the best rate.

You could also get a better discount if you drive a car with anti-theft or safety features like air bags and anti-lock brakes.

So, how do you know if your car is easy to insure? First, check out the Insurance Institute for Highway Safety’s list of vehicles with low loss ratios. This list includes cars with good crash test ratings and a proven track record of safety and reliability.

Then, when shopping for a car, you should:

• Check the car’s safety rating with the National Highway Traffic Safety Administration.
• Ask your insurance agent which cars are easy to insure.
• Research third-party ratings, like those from Consumer Reports or J.D. Power and Associates, to help you find the safest and most reliable car.

As you can see, your car impacts your car insurance rates. Selecting a car with good safety ratings and low loss ratios will help you get the best car insurance rates for seniors.

Protect Your Vehicle

Seniors can benefit from discounts on their car insurance rates by taking certain precautions to protect their vehicles from theft and other criminal activities. For example, consider installing anti-theft devices or parking in a monitored or secured area when possible.

You may also qualify for discounts if you have safety features installed in your vehicles, such as air bags, anti-lock brakes, or automatic seat belts. Ensure your policy reflects these vehicle additions for the best rates.

However, there are other ways to protect your vehicle. Other tips for keeping your vehicle safe include:

• Keeping up with routine services and repairs to ensure your car is running smoothly
• Ensuring all the lights work, including headlights, taillights, and brake lights, so you can be seen from greater distances on the road
• Checking the depth of your tires regularly to increase fuel efficiency and ensure safety
• Etching your car’s VIN to your windshield as a deterrent to theft

Keeping your vehicle safe shows insurance companies that you’re a responsible driver, which can help lower your rates.

Receive Credit for Driving Less

One of the best ways seniors can keep their car insurance rates low is to receive credit for driving less. Many insurers offer discounts if you’re a safe driver and have a lower mileage than most drivers.

Some insurers even let you switch to a pay-as-you-drive option, so you only pay for the miles you drive each month or year.

With the pay-as-you-drive option, you’ll likely have to install a device that monitors your mileage and transmits it to the insurer. Then, based on your miles driven and other factors, such as driving record and vehicle type, you’ll be charged for coverage every month.

Before you consider pay-as-you-drive auto insurance, check the fine print to understand any limits on the type of driving (such as in school or work zones) that might be excluded from coverage.

Other considerations include:

• Double-check to make sure the insurer offers discounts for you based on your age and that their rates are lower than what you’re currently paying.
• Remember to factor in any additional fees or charges for the installation of the device.
• Also, consider if you’re comfortable with a company tracking your driving habits and sharing that data with third parties.

So, while there are ways to save on insurance, you should always consider the advantages and drawbacks of your options.

Increase Your Deductible

A deductible is what you must pay out of pocket before your insurance company pays for a covered loss. Generally, the higher the deductible, the lower the premium.

A higher deductible can be especially beneficial for seniors who may not need as much coverage and can afford a higher deductible. You may also be able to adjust your collision and comprehensive deductibles separately.

However, while increasing your deductible will lower your rates, you’ll pay more out of pocket when filing a claim.

Drop Unnecessary Coverages

As you age, your car insurance needs may change. In addition, your coverage levels partially determine your rates, so dropping unnecessary coverages can help you lower your cost.

Consider dropping collision, comprehensive, and uninsured motorist insurance if you have an older car with low value or if the cost to replace it is relatively low. You can also drop riders such as:

• Medical payments coverage. This coverage may be optional if you have a good health insurance policy.
• Rental car coverage. You can usually skip this if your credit card covers rental cars.
• Roadside assistance. If you have AAA or another roadside assistance plan, you don’t need to pay for it through auto insurance.

As you can see, you could save considerably on your rates by dropping unneeded add-on coverages.

Consider Bundling Your Policies

Seniors can save considerably on car insurance by bundling their policies. In addition, bundling multiple insurance types with the same company, like auto and homeowner’s or renter’s insurance, often results in discounted rates.

Don’t forget to ask whether you can bundle your car insurance policy with other coverage types offered by the insurer, such as life or health insurance. Additionally, many companies offer discounts for customers who insure more than one vehicle with the same company.

For example, you may be eligible for a multi-car discount if you’re a senior with multiple vehicles in your household. Ask your insurer about the possibility of bundling or multi-car discounts before committing to a policy.

Look Into Low Mileage Discounts

Low mileage discounts can also help seniors save on their car insurance premiums. Since many seniors are retired and don’t need to commute as frequently as younger drivers, they qualify for discounts based on low annual mileage.

The amount of savings varies by insurer, so it’s important to shop around and get quotes from multiple companies to find the best deal.

Some insurers offer up to 10% off premiums for driving fewer than 7,500 miles per year, so it’s important to know what discounts your provider offers.

Take Advantage of Retirement Benefits

Retirees may be eligible for special discounts and retirement benefits from their auto insurance company.

Some companies offer discounted rates or incentives to seniors who retired from their jobs, while others provide loyalty rewards programs with additional savings opportunities.

It pays to research and ask your insurer about any available senior discounts or perks before signing a policy contract. Additionally, many insurers will also waive certain fees, such as the processing fee charged when switching policies, if you were previously employed by them.

Shop Around for Coverage

The best way to save on car insurance as a senior is to shop around and compare rates from several insurance companies. Don’t accept the first quote you find — get quotes from several companies to find the best deal for your needs.

The Bottom Line

By following these tips, seniors can save significantly on their car insurance. The key is shopping for coverage and comparing rates from multiple insurers to get the best deal possible.

Additionally, it’s important to remember that your car insurance needs may change as you age and develop additional responsibilities. Therefore, check in with your insurance company regularly to ensure you have the right coverage.

With some research and effort, seniors can find an affordable policy to meet their needs.

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