Senior drivers may find their insurance needs are changing, especially if they have purchased a new car or recently retired. Car insurance rates also tend to increase as you approach age 70, which may make it harder to find the right coverage for your budget. We compared dozens of carriers to help you get the best senior car insurance rates for the coverage you need.
Best Car Insurance for Seniors
· GEICO Auto Insurance: Best Discounts for Seniors
· Nationwide Auto Insurance: Best Affordable Car Insurance
· The Hartford Auto Insurance: Best Coverage Options and Benefits
· Amica Auto Insurance: Best for Customer Satisfaction
· State Farm Auto Insurance: Best National Car Insurance
· Farmers Auto Insurance: Best for Coverage Upgrades
What are the cheapest car insurance companies for seniors?
Determining what carrier has the cheapest car insurance for seniors may require a bit of digging. Our research found that Auto-Owners, Travelers, Geico, USAA and Nationwide may be the cheapest car insurance companies for seniors based on average rates from Quadrant Information Services. Rates provided are for a 70-year-old driver with a clean driving record. These carriers were determined using several variables, including average annual premiums, coverage offerings and discount opportunities for seniors, financial strength and third-party rankings for customer satisfaction.
How to get cheap car insurance as a senior?
The best way to save money on your senior car insurance rates likely depends on your unique rating factors, but many of the steps are similar to those for middle-aged drivers. Senior citizens may be able to get cheap car insurance by following these steps:
1. Take a defensive driving course
In some states with approved defensive driving courses, car insurance carriers will offer a discount to seniors over 55 who complete one. You may want to check with your insurance company to see if this discount is an option before taking the course.
2. Review your driving status
If you’re no longer commuting for work, updating your driving status to pleasure driving rather than a commuter may save you money due to the lower mileage. You may also be able to save with pay-per-mile insurance, which typically includes a low flat rate plus a per-mile charge.
3. Anti-Theft Feature Discount
If your car has theft prevention devices like an alarm or a passive disabling system, your insurance may provide a discount on your rate.
4. Avoid tickets and accidents
As demonstrated above, accidents and tickets can cause your insurance rates to increase. Maintaining a clean driving record may help keep those rates down as you age.
5. Shop around
Shopping around with different carriers may offer you more savings than you’re getting with your current insurer. Just be sure to compare the same coverage types and limits to get a true comparison before switching carriers.
6. Compare quotes before buying a new car
You may be switching cars to adjust to your new lifestyle during retirement. Maybe you want a bigger car to accommodate your grandkids or you’re looking for increased safety features. Before you land on a new model, compare insurance quotes. Cars with high safety ratings, low theft rates, and accessible parts and repairs often have lower insurance costs.
What Factors Could Impact Your Car Insurance Rates?
To recap and expand, here are factors insurance companies consider:
· Coverage type and deductibles
· Average mileage
· Previous insurance coverage
· Marital status
· Driving history
· Vehicle type
