Early in your 60s, automobile insurance rates for seniors might not go up considerably, but by the time you’re 80 years old, you should be prepared for a 20%+ increase in premiums. Finding the most economical choice might be aided by obtaining quotations from several insurers, but prices aren’t the only thing to take into account.
Based on costs, coverage options, collision repair scores, and customer complaints, we look at the best and cheapest car insurance for seniors in 2023.
What is Car Insurance for seniors?
Car insurance for seniors is an auto insurance plan created especially for senior drivers, who are usually 65 years of age or older. Due to potential differences in their driving habits, needs, and risk profiles from younger drivers, seniors may face special considerations when it comes to auto insurance.
Best Car Insurance for Seniors
#1. Nationwide Auto Insurance
For retirees who might be driving less than they used to, nationwide is perfect. The less you drive, the less you pay with its SmartMiles program, which offers variable monthly pricing based on the number of miles you drive. The majority of states offer coverage, and Nationwide has excellent ratings for both financial stability and customer happiness.
#2. Auto-Owners Insurance
Auto-Owners maintains a top A++ credit rating from AM Best and consistently receives high customer and claims satisfaction scores. They provide seniors with inexpensive rates and a number of discounts, including a low mileage discount on auto insurance coverage. However, this coverage is not accessible in every state, and you must work with an agent to acquire a quote.
#3. USAA Auto Insurance
For seniors who have served in the military (or their close family members), USAA is a highly recommended option. The insurance provider not only routinely receives top rankings, but it also provides affordable rates for drivers of all ages. It provides a number of alternative insurance product types to bundle and save even more, along with a variety of discounts for customers of all ages, including seniors.
Best Full-Coverage Car Insurance for Seniors
We show the average monthly and yearly full-coverage expenditures for seniors 65 to 75 in the table below.
| Cheapest Car Insurancefor Seniors | Average Monthly Cost | Average Annual Cost |
| USAA | $97 | $1,158 |
| Geico | $112 | $1,342 |
| Nationwide | $114 | $1,371 |
| State Farm | $120 | $1,437 |
| Travelers | $134 | $1,609 |
What is the cheapest car insurance for senior citizens over 65 years old?
| Cheapest Senior Car Insurancefor 65-Year-Olds | Average Monthly Cost | Average Annual Cost |
| USAA | $88 | $1,057 |
| Geico | $102 | $1,227 |
| Nationwide | $105 | $1,263 |
| State Farm | $113 | $1,353 |
| Progressive | $131 | $1,566 |
Cheap Car Insurance for Seniors Over 75 Years Old
| Cheapest Car Insurancefor 75-Year-Olds | Average Monthly Cost | Average Annual Cost |
| USAA | $105 | $1,260 |
| Geico | $121 | $1,457 |
| Nationwide | $123 | $1,479 |
| State Farm | $127 | $1,520 |
| Progressive | $156 | $1,872 |
Cheap Senior Car Insurance for 65-Year-Olds by State
| Senior Car Insurancefor 65-Year-Olds | Average Monthly Cost | Average Annual Cost |
| Alabama | $119 | $1,430 |
| Alaska | $116 | $1,389 |
| Arizona | $140 | $1,680 |
| Arkansas | $121 | $1,453 |
| California | $172 | $2,058 |
| Colorado | $149 | $1,786 |
| Connecticut | $234 | $2,808 |
| Delaware | $166 | $1,996 |
| District of Columbia | $151 | $1,816 |
| Florida | $229 | $2,748 |
| Georgia | $133 | $1,601 |
| Hawaii | $152 | $1,819 |
| Idaho | $83 | $995 |
| Illinois | $109 | $1,308 |
| Indiana | $106 | $1,276 |
| Iowa | $87 | $1,049 |
| Kansas | $109 | $1,304 |
| Kentucky | $142 | $1,703 |
| Louisiana | $244 | $2,925 |
| Maine | $75 | $898 |
| Maryland | $160 | $1,915 |
| Massachusetts | $170 | $2,034 |
| Michigan | $284 | $3,409 |
| Minnesota | $128 | $1,532 |
| Mississippi | $112 | $1,342 |
| Missouri | $130 | $1,556 |
| Montana | $143 | $1,712 |
| Nebraska | $119 | $1,430 |
| Nevada | $180 | $2,160 |
| New Hampshire | $111 | $1,327 |
| New Jersey | $158 | $1,896 |
| New Mexico | $116 | $1,397 |
| New York | $221 | $2,649 |
| North Carolina | $108 | $1,297 |
| North Dakota | $99 | $1,191 |
| Ohio | $81 | $971 |
| Oklahoma | $137 | $1,649 |
| Oregon | $107 | $1,289 |
| Pennsylvania | $139 | $1,673 |
| Rhode Island | $164 | $1,969 |
| South Carolina | $151 | $1,814 |
| South Dakota | $120 | $1,434 |
| Tennessee | $99 | $1,192 |
| Texas | $151 | $1,813 |
| Utah | $125 | $1,503 |
| Vermont | $84 | $1,011 |
| Virginia | $95 | $1,134 |
| Washington | $117 | $1,402 |
| West Virginia | $122 | $1,459 |
| Wisconsin | $94 | $1,123 |
| Wyoming | $141 | $1,696 |
Tabke Credit: Marketwatch
Cheap Senior Car Insurance for 75-Year-Olds by State
The table below shows the cost of car insurance by state for 75-year-old drivers:
| Senior Car Insurancefor 75-Year-Olds | Average Monthly Cost | Average Annual Cost |
| Alabama | $141 | $1,694 |
| Alaska | $134 | $1,610 |
| Arizona | $140 | $1,685 |
| Arkansas | $162 | $1,944 |
| California | $194 | $2,333 |
| Colorado | $171 | $2,054 |
Factors That Affect Your Car Insurance Rates
Here are the main factors that affect your insurance rates:
#1. Your Driving Record Will Follow You
Your history of at-fault accidents and driving violations is included in your driving record. It’s a significant determinant of your auto insurance premiums. Depending on your state, auto insurance providers review your driving record for the last three to five years. You may have to pay more for auto insurance if you have been involved in an auto accident or if you have received traffic fines.
However, you can instantly take steps to enhance your driving history, regardless of what’s on it. It will be beneficial to drive defensively and abstain from infractions like speeding fines and collisions. The longer you drive without an accident, the lower your cost will be for auto insurance—it can take a few years.
#2. Your credit score:
Since credit scores are thought to indicate the possibility of filing a claim, many auto insurance companies heavily rely on them when determining rates. However, credit-based insurance scores cannot be used for auto insurance pricing in California, Hawaii, Massachusetts, or Michigan.
#3. Your coverage
Your choice of coverage will have a significant effect on the cost of your auto insurance. However, don’t let lower costs deter you from getting the coverage types you truly require.
A financial catastrophe could result from not having enough auto insurance.
#4. Car Insurance Deductible
Your pricing will also take into account the amount of your deductible. When you file a claim for auto repairs, the amount you have to pay out-of-pocket is called the deductible. Generally, you can select deductible amounts between $250 and $2,500. The amount you pay in insurance premiums will decrease as the deductible increases.
#5. Your Car Insurance History
You should anticipate paying a higher premium if this is your first vehicle insurance coverage and you are a new driver. This is due to the fact that auto insurance providers won’t have enough data to assess your risk.
#6. The kind of car you drive
The kind of vehicle you drive has a big impact on how much your auto insurance costs. They will review previous claims from comparable models and assess the cost of repairs, the rate of theft, and the amount paid for full claims.
#7. Your driving experience and age
Because they are more likely to be involved in an accident, young and inexperienced drivers will pay higher rates for auto insurance. For instance, according to the Insurance Institute for Highway Safety, drivers between the ages of 16 and 19 are three times more likely to be in a fatal crash than drivers over the age of 20.
#8. Your location
Location-based pricing variables include weather-related claims, auto theft, and accidents. Because there are more theft, vandalism, and auto accidents in urban areas than in suburbs, drivers there typically pay more for coverage.
The price of medical care, the cost of auto repairs, and the frequency of litigation resulting from auto accidents are other location-related issues.
#9. Additional Car Insurance Cost Factors
When determining their premiums, auto insurance companies frequently consider a number of non-driving characteristics, including
- Home ownership
- Marital status
- Education
- Occupation
- Gender
Discount Car Insurance for Seniors
Numerous insurers provide the following discounts:
#1. Multi-policy:
Bundling auto insurance with other products, such as renters, homeowners, or life insurance, entitles customers to rewards.
#2. Military discounts:
Veterans and active-duty members can receive discounts from certain providers.
#3. Safe driving:
Many providers offer safe driving discounts in addition to defensive driving discounts, even if they don’t cater to older drivers specifically. While some offer telematics insurance programs that track driving patterns and compute savings in accordance with them, others grant eligibility to anyone who has successfully finished a safe driving course.
#4. Accident-free:
Drivers who avoid auto accidents for a predetermined period of time receive financial benefits.
#5. Multi-car:
Clients who insure multiple vehicles receive a discount.
#6. Safety features:
You can be eligible for a discount if your vehicle has airbags, anti-lock brakes, daytime running lights, or other safety equipment.
Therefore, inquire with your supplier about any reductions offered for paying in whole rather than on a monthly basis or for choosing not to get paper invoices. You might want to review your coverage options if you drive an older automobile because you might be overpaying for comprehensive coverage.
AARP Car Insurance for Seniors
AARP offers its vehicle insurance products to members who are 50 years of age or older through Hartford, making it a fantastic choice for seniors seeking lower car insurance premiums.
The Hartford provides a range of vehicle insurance coverage options based on your region and operates in the majority of US states. Among its typical offers are:
#1. Bodily injury liability insurance:
This covers the other motorist and their passengers in the event that you cause an accident.
#2. Property damage liability insurance:
This covers the other driver’s car damage in an accident you cause.
#3. Uninsured/underinsured motorist (UM/UIM) coverage:
This protects you against drivers who are underinsured or uninsured and, in certain states, against hit-and-run incidents.
#4. Comprehensive insurance:
This covers theft and vandalism in addition to environmental damage like fires, floods, and falling trees on your car.
#5. Collision insurance:
This covers auto damage in the event of an accident, regardless of fault.
#6. Medical payments (MedPay) coverage:
This covers your passengers and your own medical costs in the event of an accident.
#7. Personal injury protection (PIP) insurance:
PIP insurance, which is necessary for no-fault states, pays for medical costs, lost income, and death benefits for you and your passengers.
Is AARP insurance any good?
AARP offers additional incentives on auto insurance through The Hartford if you’re over 50 years old and hunting for coverage. If you are hurt in an accident, Hartford’s RecoverCare program may be available to you, depending on your state. It can help pay for treatments you are unable to provide for yourself. To assist you in reducing the cost of your auto insurance, note that Hartford offers a wide range of discounts.
What is the best car insurance rate for seniors?
If you’re looking for affordable auto insurance, Geico offers the best prices for senior drivers of all ages. Another incentive to think about Geico is the company’s low number of complaints regarding auto insurance.
What age is considered senior?
Generally, you fall into the senior age group when you hit 55. You reach the average age at which people leave their jobs when they are 65. Retirement can no longer be a determining factor in becoming a senior, though, as more and more seniors continue to work after age 65.
Does car insurance go down after 65?
After the age of 65, your premium will rise once more, even if it can decrease when you turn 25.
Which insurance is best for 60-year-olds?
Term life insurance at age 60 might be a more cost-effective financial choice than full life insurance. Term insurance could save you a lot of money because whole life insurance is typically far more expensive than term insurance.
What is the age of senior citizens for ladies?
Anyone who is of retirement age, or who is 62 years of age or older, is commonly regarded as a senior citizen in the United States. Nevertheless, 65 is the normal eligibility age for Medicaid.
What is the cheapest car insurance for people over 55?
At an average monthly premium of $85 for 50-year-olds, USAA provides the least expensive auto insurance. However, only military personnel are eligible to use it.
Do cars get cheaper to insure as they get older?
In general, if the used automobile is less expensive to repair or replace than a newer model of the same make and model, insurance for older cars may be less expensive than for newer models. Over time, an automobile’s value decreases, lowering the maximum amount that an insurance company would be required to pay in the case of an accident.
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