Best Auto Insurance For Seniors: 2022 Comparisons

best auto insurance for seniors
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Car insurance is a legal obligation in practically every state, regardless of age. While vehicle insurance prices are normally lowest throughout your adult years, you may expect your premiums to rise as you age, even if your driving habits remain consistent and your driving record is clean. Your premiums will almost certainly rise once you reach the age of 60.
The good news is that there are numerous options for finding more affordable auto insurance for seniors. Many auto insurance companies provide discounts to senior drivers, such as savings for retiring or taking a defensive driving course. Furthermore, if your rate increases after celebrating a birthday, you can always look around for new auto insurance quotes.
Businessyield did research to uncover auto insurance providers that give low rates to seniors in 2022, even if you have a recent traffic offense, like a speeding ticket or DUI, to assist you in finding the cheapest rates. We also gathered information on the reductions accessible to elderly drivers.

Comparison of the Best Auto Insurance for Seniors

InsurerAverage Premium
Geico$507
USAA$639
Esurance$747
AAA$617
State Farm$710
The Hartford$754
Travelers$696
Progressive$732
Mercury$679
Allstate$942

Cheapest Auto Insurance for Seniors

Geico offers the most affordable insurance for most seniors. Geico’s minimum-coverage policy costs $763 per year on average, while full-coverage insurance costs $1,463 per year.

CompanyMinimum coverageFull coverage
Geico$763$1,463
State Farm$1,075$1,827
Travelers$1,925$3,151
USAA*$2,141$3,162
Allstate$3,842$5,072
*USAA insurance is provided only to active duty military personnel, veterans, and their families

Senior drivers should also compare State Farm insurance prices. State Farm’s minimum-coverage insurance costs $26 more per month than Geico’s, and full-coverage insurance costs $30 more per month.

Rates vary depending on your driving history, where you reside, the car you drive, and the policy options you select, so it’s critical to get quotes from several insurance companies.

What is the Best Auto Insurance Company for Seniors?

The best auto insurance provider for older folks is determined by a variety of factors, including location, driving history, and current financial situation. There is no single insurance that is best for everyone. However, we have developed a list of the best insurance for seniors depending on their level of experience.

State Farm – Best Overall Auto Insurance for Seniors.

State Farm is the best choice for most seniors due to its cheap rates, national availability, and excellent customer service.

State Farm isn’t the cheapest auto insurance company for seniors, but it does have some of the lowest prices across all of the driver profiles we looked at. When combined with the company’s selection of discounts for safe driving, safe vehicles, and loyal customers, most budget-conscious seniors are likely to find State Farm prices cheaper than other suppliers.

State Farm has exceptional customer service and a large range of products, making it a perfect alternative for seniors wishing to bundle coverage. It provides a multiproduct discount to customers who additionally purchase homes, condos, renters, farms, life, or health insurance.

Geico – Cheapest Auto Insurance for Seniors.

Geico has the most affordable rates for most older drivers.

Geico offers the most reasonable vehicle insurance rates for seniors. The Prime Time contract also provides a guaranteed auto insurance renewal scheme. The program is open to drivers over the age of 50 who meet certain conditions and ensures that your policy will not be terminated even if you earn several traffic tickets.

Geico provides acceptable customer service to seniors; the firm received average ratings on both the J.D. NAIC Complaint Index and power claims satisfaction survey Geico does underwrite its homeowner’s insurance coverage and offers fewer supplementary products than its competitors, so seniors wishing to bundle policies should search elsewhere.

Nationwide – Cheapest Seniors Auto insurance for Low-mileage Drivers.

The pay-per-mile plan from Nationwide is ideal for seniors who may find themselves driving less after retirement.

The SmartMiles program from Nationwide is ideal for seniors who are frequently absent from the wheel. Premiums are determined per mile, making it a less expensive option for seniors who may drive far less frequently after retirement.

How Much Does Seniors Auto Insurance Cost?

For a 65-year-old, the average cost of auto insurance is $1,646 per year for a minimum-coverage policy and $2,057 per year for a full-coverage policy. However, as the policyholder matures, rates are expected to rise. This is because insurers consider elderly drivers to be more dangerous to insure.

On average, 75-year-old drivers pay 12% more than 65-year-old drivers, and 85-year-old drivers spend 44% more on full coverage auto insurance.

AgeMinimum coverageFull coverage
65$1,646$2,057
75$1,830$2,329
85$2,371$2,989

Cheapest Auto Insurance for Seniors with Prior Accidents

Drivers who have earned a traffic citation or who have been at fault in an accident typically pay higher auto insurance rates than other drivers. Seniors who are pulled over for speeding will most likely notice a 9% rise in their vehicle insurance rates. Accidents tend to increase the cost of coverage significantly – seniors may have to pay 44% more for coverage following an accident.

CompanyAnnual rate with a speeding ticketAnnual rate after an accident
Geico$1,463$2,261
State Farm$1,991$2,156
USAA$3,162$4,091
Travelers$4,275$4,471
Allstate$5,072$8,107
Rates were determined using full-coverage insurance.

Seniors’ Auto Insurance Discounts

Many insurance companies provide up to 15% discounts for attending a senior driver course. In some jurisdictions, your insurance provider is obligated by law to provide you with a discount if you finish an approved course.

Seniors can also take advantage of usage-based insurance schemes, which compute premiums based on driving behaviors. These programs are especially likely to help retired seniors and people who travel fewer kilometers than the average person.

Finally, certain seniors may be eligible for affiliation discounts if they are members of certain professional organizations, alumni groups, or leisure clubs.

How To Find the Best Auto Insurance For Seniors

#1. Frequently compare quotes.

Older drivers’ insurance premiums often begin to rise after the age of 60, with additional hikes at 70 or 80. This implies that, regardless of your safe driving record, you may need to compare quotes to get more cheap auto insurance rates each time one of these milestones is reached.

#2. Consider a policy tailored to seniors.

For example, Hartford’s AARP Auto Insurance provides AARP members with exclusive pricing and personalized benefits. Senior drivers should assess the benefits of such programs as well as other criteria such as cost and customer service records.

#3. Adapt your coverage limits based on your risk.

Statistics reveal that older drivers are more likely to sustain catastrophic injuries in car accidents than middle-aged drivers. As a result, senior citizens may consider boosting their coverage limits for medical insurance, such as personal injury protection and uninsured motorist bodily injury coverage.

Is it possible to get cheap auto insurance for drivers who have had prior incidents?

If you have a speeding ticket, an accident, or another traffic offense on your record, you will be charged a higher premium than a driver with a clean record. The amount of your premium increase will be determined by the type of infraction as well as your other rating criteria.

We calculated that a speeding ticket might increase your premiums by 70%, while an accident on your record could result in a 108% increase. However, the premium rise may frequently differ based on your insurance carrier and the state you live in.

If you have recently been in an accident or received a speeding ticket, shopping around is usually the best way to keep your premium low. Shop around for insurance companies, being sure to compare similar coverage levels and deductibles.

Auto Insurance for Seniors Rates By Age Decade

Let’s examine a full coverage policy with comprehensive insurance, collision insurance, and liability coverage limits of 100/300/100 to understand how your age may affect your insurance expenses in your 50s and beyond.

Auto insurance for seniors in their 50s

Car insurance for those over the age of 50 is typically less expensive than for younger and older drivers. Drivers in their 50s are among the safest because they have a lot of experience but still have good health, quick reflexes, and dependable hearing and vision.

A 55-year-average old’s premium for full coverage auto insurance is $1,517.

Auto insurance for seniors in their early 60s

Between the ages of 50 and 65, you’re likely to pay less for vehicle insurance than you have in the past. Some insurers, however, boost prices at the age of 65. Your current insurance company may not be among the best for older drivers. The age of 65 may be a hint to shop around for a better bargain.

A 65-year-average old’s premium for full coverage auto insurance is $1,565.

Auto insurance for seniors in their 70s

When you reach the age of 70, does your auto insurance go up? Regrettably, yes.

According to data from the National Transportation and Safety Bureau (NTSB) and the National Automotive Sampling System (NASS), drivers aged 70 and up have substantially greater rates of intersection-related accidents and fatalities than younger drivers. More accidents translate into more claims and higher rates. However, this is only the starting point for an increase in accident rates; drivers’ abilities do not deteriorate severely until they reach their late 70s or early 80s. Some insurers realize this and continue to provide affordable automobile insurance for customers over the age of 70.

  • A 70-year-average old’s premium for full coverage auto insurance is $1,676.
  • A 75-year-average old’s premium for full coverage auto insurance is $1,847.

Auto insurance for seniors over the age of 80

Driving becomes increasingly dangerous for persons beyond the age of 80. According to the American Automobile Association (AAA), the death rate for senior drivers is 17 times that of 25- to 64-year-olds. It’s primarily attributable to the human body’s frailty in its ninth decade of life, not terrible driving.

Auto insurance for older drivers becomes increasingly expensive as they age, so it’s vital to browse for car insurance rates and take advantage of any discounts you’re entitled to.

A full-coverage auto insurance policy for an 85-year-old costs $2,165 on average.

If you’re not driving as much and have reduced your insurance to simply liability limits, here’s how senior vehicle insurance costs compare as you get older:

Average Auto Insurance Rates for Senior Drivers

AgeLiability 50/100/50
55$599
60$600
65$633
70$689
75$722
85$958

Is there a Senior Discount Available from State Farm?

State Farm does not provide any kind of senior discount. However, it offers various savings to senior drivers, including a defensive driving discount, safe driving discounts, vehicle safety discounts, and bundling discounts.

When you retire, does your auto insurance cost less?

When you retire, your auto insurance rates do not automatically decrease. Retirees who no longer commute, on the other hand, can save money on auto insurance by taking advantage of low-mileage discounts or switching to a pay-per-mile insurance plan.

Is auto insurance more expensive at the age of 80?

Car insurance prices begin to rise at the age of 55. Rates rise by 13% between the ages of 65 and 75, with 85-year-old drivers paying 28% more than 75-year-olds.

Auto Insurance For Seniors FAQs

How old should your car be before you drop full coverage?

Six years old
It used to be that automobile owners should discontinue collision and comprehensive insurance when their vehicle was five or six years old, or when the mileage reached 100,000.

What age is senior citizen?

For income tax purposes, a Senior Citizen is a resident who is 60 years or older but less than 80 years old at any time during the previous year. A Super Senior Citizen is a resident who was 80 years old or older at any point in the previous year.

Does married or single pay more for car insurance?

When you are married, your auto insurance is less expensive than when you are single. Married couples pay $123 less per year for full coverage automobile insurance than solo drivers – a 5% discount. Rates are the annual premiums for a full coverage policy on average.

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