Best Car Insurance for Seniors [2024]
Compare best companies for senior citizen car insurance rates with State Farm, Progressive, and Farmers. By exploring discounts, coverage options, and overall affordability, seniors can find tailored solutions for their driving needs.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
UPDATED: Mar 24, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Mar 24, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Compare best companies for senior citizen car insurance rates like State Farm, Progressive, and Farmers. Consider factors like credit score, mileage, coverage level, and driving record for informed comparisons tailored to your individual driving needs.
Having car insurance is essential to driving in nearly all U.S. states. However, this doesn’t mean that you won’t pay top dollar just to have car insurance as you age.
Company | Rank | Senior Discount | A.M. Best | Best For | Jump to Pros/Cons |
---|---|---|---|---|---|
#1 | 25% | A++ | Cost Efficiency | Geico | |
#2 | 30% | A+ | Customized Options | Progressive | |
#3 | 25% | A++ | Personal Service | State Farm | |
$#4 | 25% | A+ | Comprehensive Coverage | Allstate | |
#5 | 30% | A++ | Military Members | USAA | |
#6 | 12% | A | Roadside Assistance | AAA | |
#7 | 40% | A+ | Policy Bundling | Nationwide | |
#8 | 30% | A | Coverage Variety | Farmers | |
#9 | 20% | A | Technological Integration | Liberty Mutual | |
#10 | 10% | A++ | Flexible Policies | Travelers |
Many insurance companies charge higher rates for seniors. If you’re nearing this age and want to avoid paying higher car insurance rates, there are some ways to receive affordable car insurance for seniors.
#1 – State Farm: Discount Oasis
State Farm emerges as the most affordable and tailored choice for senior citizen car insurance, offering competitive rates and discounts based on individual factors.
Brad Larson Licensed Insurance Agent
Pros
- Generous discounts: State Farm offers up to 12% senior citizen discounts and up to 15% for multi-policy holders.
- Wide range of coverage: Known for providing extensive coverage options to meet diverse customer needs.
- Reputation: State Farm has a strong reputation for customer service and financial stability.
Cons
- Average safe-driving discounts: While offering safe-driving discounts, State Farm’s rates might be surpassed by competitors in this regard.
- Premium costs: Some customers may find State Farm’s premiums relatively higher than other insurers.
Read more: State Farm Car Insurance Review
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#2 – Progressive: Policy Perfection Hub
Pros
- Flexible policy options: Progressive stands out for its diverse policy options catering to different needs.
- Senior citizen discounts: Offers up to 10% discounts for senior citizens and additional multi-policy discounts.
- Online convenience: Known for user-friendly online tools, making it easy for customers to manage policies.
Cons
- Limited physical presence: May not have as many local agents or physical locations as some competitors like State Farm.
- Customer service feedback: Some customers report mixed experiences with Progressive’s customer service.
Read more: Progressive Car Insurance Review
#3 – Farmers: Deductible Magic Zone
Pros
- High multi-policy discounts: Farmers offers up to 18% multi-policy discounts, providing substantial savings.
- Vanishing deductible: The vanishing deductible feature allows safe drivers to reduce their deductible over time.
- Customizable coverage: Known for providing customizable coverage options to meet specific needs.
Cons
- Limited senior discounts: While offering multi-policy discounts, Farmers’ senior discounts may be lower compared to other providers.
- Average 24/7 support: While providing 24/7 support, customer feedback on response times can be mixed.
Read more: Farmers Car Insurance Review
#4 – Nationwide: Online Convenience Haven
Pros
- Online convenience: Nationwide offers a user-friendly online experience, making it easy for customers to manage policies.
- Senior citizen discounts: Provides up to 11% discounts for senior citizens, contributing to overall policy affordability.
- Multi-policy discounts: Up to 14% discounts for customers bundling multiple policies.
Cons
- Limited safe-driving incentives: While offering safe-driving discounts, Nationwide’s incentives may not be as competitive as some rivals.
- Mixed customer service feedback: Customer satisfaction with Nationwide’s customer service can vary based on individual experiences.
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#5 – Allstate: Bundle Bliss Central
Pros
- Bundle discounts: Allstate excels in providing bundle discounts, offering significant savings for customers with multiple policies.
- Senior citizen discounts: Up to 13% discounts for senior citizens contribute to competitive overall rates.
- Wide range of coverage: Known for offering a diverse range of coverage options, allowing customers to tailor their policies.
Cons
- Premium costs: Some customers may find Allstate’s premiums to be on the higher side compared to other insurers.
- Limited 24/7 support: While offering support around the clock, some customers report limitations in the responsiveness of 24/7 support.
Read more: Allstate Car Insurance Review
#6 – Liberty Mutual: Multi-Policy Savings Hub
Pros
- Multi-policy discounts: Liberty Mutual offers up to 13% multi-policy discounts, providing substantial savings.
- Senior citizen discounts: Provides up to 9% discounts for senior citizens, contributing to overall policy affordability.
- Financial stability: Liberty Mutual has a strong financial foundation, instilling confidence in policyholders.
Cons
- Average safe-driving discounts: While offering safe-driving discounts, Liberty Mutual’s rates might be surpassed by competitors in this regard.
- Mixed customer service feedback: Customer satisfaction with Liberty Mutual’s customer service can vary based on individual experiences.
Read more: Liberty Mutual Car Insurance Review
#7 – American Family: Loyalty Rewards Oasis
Pros
- Loyalty rewards: American Family offers loyalty rewards to long-term policyholders, enhancing customer value.
- Senior citizen discounts: Provides up to 8% discounts for senior citizens, contributing to overall policy affordability.
- Customizable coverage: Known for providing customizable coverage options to meet specific needs.
Cons
- Mixed customer service feedback: Customer satisfaction with American Family’s customer service can vary based on individual experiences.
- Limited safe-driving incentives: While offering safe-driving discounts, American Family’s incentives may not be as competitive as some rivals.
Read more: American Family Car Insurance Review
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#8 – Travelers: Customer Service Excellence Nexus
Pros
- Customer service: Travelers excels in providing strong customer service, ensuring prompt assistance.
- Senior citizen discounts: Offers up to 10% discounts for senior citizens, contributing to overall policy affordability.
- Wide range of coverage: Known for offering a diverse range of coverage options, allowing customers to tailor their policies.
Cons
- Limited safe-driving incentives: While offering safe-driving discounts, Travelers’ incentives may not be as competitive as some rivals.
- Bundle discount variability: The eligibility and impact of bundle discounts may vary depending on specific policy details.
Read more: Travelers Car Insurance Review
#9 – Esurance: 24/7 Support Sanctuary
Pros
- 24/7 support: Esurance offers round-the-clock customer support, ensuring assistance at any time.
- Senior citizen discounts: Provides up to 7% discounts for senior citizens, contributing to overall policy affordability.
- Customizable coverage: Known for providing customizable coverage options to meet specific needs.
Cons
- Limited senior discounts: While offering 24/7 support, Esurance’s senior discounts may be lower compared to other providers.
- Mixed customer service feedback: Customer satisfaction with Esurance’s customer service can vary based on individual experiences.
#10 – AAA: Safe-Driving Discounts Haven
Pros
- Safe-driving discounts: AAA excels in offering safe-driving discounts, rewarding customers for responsible driving.
- Senior citizen discounts: Provides up to 11% discounts for senior citizens, contributing to overall policy affordability.
- Extensive network: AAA’s widespread network provides accessibility and support across various locations.
Cons
- Premium costs: Some customers may find AAA’s premiums to be on the higher side compared to other insurers.
- Varied safe-driving programs: The effectiveness of safe-driving discounts may be subject to individual driving behaviors and monitoring programs.
Read more: AAA Car Insurance Review
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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. Slowed reflexes are just one aspect of aging that you can’t control. Another area that can fail is your eyesight.
Insurance Company | Minimum Coverage | Full Coverage |
---|---|---|
Geico | $29 | $74 |
Progressive | $36 | $95 |
State Farm | $30 | $76 |
Allstate | $60 | $154 |
USAA | $21 | $53 |
AAA | $30 | $77 |
Nationwide | $41 | $104 |
Farmers | $50 | $128 |
Liberty Mutual | $64 | $159 |
Travelers | $35 | $90 |
Among the insurers listed, State Farm emerges as the most affordable for both full and minimum coverage, charging seniors $76 and $30 per month, respectively. Progressive follows closely with rates of $95 for full coverage and $36 for minimum coverage. Notably, Liberty Mutual presents the highest rates among the listed insurers, demanding $159 per month for full coverage and $64 for minimum coverage.
The coverage rates vary significantly across providers, reflecting the diverse pricing strategies and policies implemented by each insurance company in response to the specific needs of senior citizens. These variations underscore the importance for seniors to carefully evaluate and compare the offerings of different insurers to find the most suitable and cost-effective coverage for their individual circumstances.
Insurance companies don’t test the eyesight of each individual driver; instead, they apply the same risk scenario to all of the drivers in a specific group.
Another part of the body that may weaken with age is your hearing. Being able to hear sirens, car horns, and even the yells of other people are all important to good driving. Many states allow drivers to renew their driver’s license via the mail which has actually created an increase in the cost of insurance, especially for older drivers.
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 car 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.
Read more: Compare 60-Year-Old Driver Car Insurance Rates
What is the cheapest car insurance for seniors?
Securing the most favorable Over Age 55 Car Insurance Discounts 2023 doesn’t need to be a challenging task. The table below shows the cheapest average car insurance rates for seniors.
Age and Gender | Full Coverage Rates | Minimum Coverage Rates |
---|---|---|
16-year-old male | $619 | $252 |
16-year-old female | $566 | $220 |
30-year-old male | $139 | $53 |
30-year-old female | $129 | $49 |
45-year-old male | $119 | $45 |
45-year-old female | $119 | $46 |
55-year-old male | $113 | $43 |
55-year-old female | $113 | $43 |
65-year-old male | $117 | $45 |
65-year-old female | $117 | $45 |
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 car 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. Many seniors live on a fixed income, which means that finding ways to cut corners is important.
You don’t want to forgo quality car insurance, however, which leaves you in a position where you need to take advantage of any discounts that you can find.
One of the first things that you should do is to check out the AARP website.
Interestingly, the AARP offers a defensive driving course that, once completed, can get you a discount on your car insurance.
Read More: Who Has the Cheapest 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 car 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 airbags 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 airbags, 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 car 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 car 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 car 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 car 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 (read our “Discounts on Auto Insurance Coverage for Seniors” for more information). Additionally, many insurers will also waive certain fees, such as the processing fee charged when switching policies, if you were previously employed by them.
Read more: Compare Retiree Car Insurance Rates
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. It is a simple fact that most people stay where they are comfortable.
The bottom line, however, is that you may be paying too much for your car insurance because you haven’t taken the time to shop around.
The easiest way to accomplish this goal is to use the Internet to get free quotes from multiple companies.
With options such as free quote tools, you can get instant quotes to see how much your premiums will be with different companies.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
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Case Studies: Navigating Insurance Excellence in Affordable Coverage
Case Study 1: State Farm – Discount Oasis for Seniors
A senior couple sought affordable car insurance without compromising coverage. They had specific needs related to reduced mileage and wanted comprehensive protection. State Farm’s tailored coverage options and senior citizen discounts (up to 12%) proved instrumental.
The multi-policy discount (up to 15%) further maximized savings, providing them a comprehensive policy at an affordable rate. The couple secured a policy that aligned with their reduced driving needs, enjoying substantial discounts. State Farm’s reputation for customer service and financial stability added peace of mind, making it the ideal “Discount Oasis” for seniors.
Case Study 2: Progressive – Policy Perfection Hub
A young professional sought flexibility and customization in car insurance. Having a good driving record, they wanted a policy that adapts to their evolving needs. Progressive’s flexible policy options and senior citizen discounts (up to 10%) provided the ideal solution.
The policy allowed adjustments based on changing circumstances, and the multi-policy discount (up to 12%) enhanced overall affordability. The individual obtained a tailored policy with the desired flexibility. Progressive’s innovative Snapshot program, rewarding safe driving, aligned with their responsible driving habits, making it the ultimate “Policy Perfection Hub.”
Case Study 3: Farmers – Deductible Magic Zone
A family sought a car insurance policy that not only offers comprehensive coverage but also provides incentives for safe driving. They aimed to benefit from reduced deductibles over time. Farmers’ vanishing deductible feature and multi-policy discounts (up to 18%) addressed the family’s needs.
The vanishing deductible allowed them to lower their deductible over time, creating a Deductible Magic Zone of cost savings. The family secured a policy that not only met their coverage requirements but also encouraged safe driving practices. Farmers’ strong financial stability added an extra layer of assurance, making it the preferred choice for a “Deductible Magic Zone.”
The Bottom Line: Compare Senior Citizen Car Insurance Rates
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.
Frequently Asked Questions
Why is car insurance for seniors expensive?
Car insurance for seniors is often expensive due to age-related impairments and higher accident risk.
What are the average car insurance rates for a 60-year-old driver?
The average rate for a 60-year-old driver is $190 per month.
What is the cheapest car insurance for seniors?
The cheapest car insurance for seniors varies by company and state. It’s best to compare quotes from multiple companies.
How can seniors lower their car insurance rates?
Seniors can lower their rates by taking a defensive driving class, selecting a safe car, protecting their vehicle, driving less, increasing their deductible, dropping unnecessary coverages, bundling policies, and exploring discounts.
How does age affect car insurance rates?
Age can affect car insurance rates, with seniors typically paying higher premiums due to increased accident risk associated with age-related factors.
What are the best discounts for senior drivers?
Good driver discounts, multi-car discounts, and low mileage discounts are common discounts for senior drivers. It’s recommended to inquire about available discounts with your insurer.
Where can seniors find the best car insurance premiums?
Seniors can find the best car insurance premiums by shopping around and comparing quotes from multiple companies. Using online quote tools can make this process easier.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
Secured with SHA-256 Encryption
Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.