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The Best Cheap Car Insurance for Seniors (2022)
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You’ve enjoyed the lowest auto insurance rates of your life throughout your 50s, but you may notice that as you reach your golden years, your insurance premiums are creeping back up again. Fortunately, there are auto insurance policies and senior discounts designed especially for older drivers.
Use our guide to finding affordable car insurance to understand how your auto insurance rates are calculated and how you can lower the cost of car insurance, even for young adults. Check out Insurify and start comparing car insurance today. This simple tool helps you find the cheap car insurance you need from all the best car insurance companies.
There are many options for car insurance out there, including big names you might have heard of, such as Nationwide, GEICO, Allstate, State Farm, The Hartford, and USAA. However, the big names that you’ve seen advertisements for aren’t always the companies with the best driver discounts. Here are the lowest car insurance quotes for mature drivers that we found.
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Most car insurance companies consider age and gender when determining the cost of annual premiums. As you probably know, age tends to correspond to driving experience, while gender can be a predictor of risk. Insurance companies typically give female drivers lower rates because they are believed to take fewer risks than men, though this is outlawed in some states.
For example, we found that senior female drivers pay an average of $150 a month, with one company quoting us a rate as low as $82. Our hypothetical senior male driver would pay an average of $163, with the lowest rate at $84. When analyzing car insurance rates by age, drivers over 70 years old pay way more on average, regardless of gender.
The cost of car insurance varies for seniors, but many insurance companies offer senior discounts and special auto insurance policies for older drivers.
The good news is that the average monthly cost of car insurance for seniors is typically much, much lower than it would be for, say, a 21-year-old, especially if you have remained accident-free for much of your driving history. The better driving habits you have, the more insurance companies will see you as a safe driver resulting in lower rates.
The easiest way to find the best and cheapest car insurance as a senior is to shop around between lots of insurance companies and look for car insurance discounts that can lower the cost of your policy. When you compare policies side-by-side, you can see your coverage options and price comparison from the nation’s most well-known insurance providers.
Travelers is a big name in car insurance. It’s one of the biggest insurers nationwide and offers a wide spectrum of coverage, from a basic policy to full-coverage car insurance. Our lowest-cost quote was from Travelers, at just $44 per month for policyholders in Massachusetts.
A few of the discounts that Travelers offers to senior drivers include:
National General offers insurance for high-risk drivers who have had a hard time finding eligibility for insurance elsewhere. It offers extremely affordable coverage, quoting us just $45 per month for a driver in Ohio, and the company offers SR-22 forms if you need one. It also has a claims satisfaction guarantee, which will wave up to $250 of your deductible.
A few of the discounts that National General offers to senior drivers include:
Direct Auto’s mission is to offer affordable insurance to everyone, no matter your age. It also had some of the best rates we could find, at just $51 per month for a driver in North Carolina. The company provides the same premium convenience and services you expect from major insurance providers and even offers term life insurance if you need it.
A few of the discounts that Direct Auto offers to senior drivers include:
Midvale Home & Auto is an online insurance company from a subsidiary of American Family, a Wisconsin-based insurer with more than 90 years of experience and an excellent A.M. Best financial strength rating. The company offers simple and straightforward auto coverage with 24/7 assistance for claims and flexible billing options that you can customize.
A few of the discounts that Midvale Home & Auto offers to senior drivers include:
Progressive is one of the largest insurers in the nation. A recent J.D. Power study gave Progressive high marks for customer satisfaction. Like many insurers, Progressive also offers a wide variety of policy discounts that will fit the needs of most driver profiles, especially for that of senior-aged drivers.
A few of the discounts that Progressive offers to senior drivers include:
Discounts are an easy way to lower the cost of your car insurance, and many insurers offer them. Senior drivers likely qualify for several discounts, including:
|Discounts for Seniors||How to Get It||Companies That Offer It|
|Multi-Policy Discount||Bundling multiple policies from the same company||Travelers, National General, Direct Auto, Midvale Home & Auto, Progressive, Allstate, GEICO, others|
|Multi-Car Discount||Insuring multiple cars with the same company||Nearly all insurance companies offer this|
|Homeowners Discount||Owning a home||Travelers, Direct Auto, Progressive, Farmers, State Farm, GEICO, Allstate, Nationwide|
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Discounts aren’t the only way to lower your car insurance premium. There are other things you can do to save money, including these cost-cutting strategies.
Comparing quotes from different car insurance companies is one of the best things you can do to save money. You never know when you could find the same policy for less money somewhere else. Online tools like Insurify can make this process easy and painless.
Newer cars are more expensive to insure because they’re more expensive to replace. Drive an older car to keep costs low. Make sure it has standard safety equipment, like airbags, to qualify for additional cost reductions.
A high deductible means lower premiums. Insurance companies charge more if they believe they’ll have to pay out more after an accident; by choosing a higher deductible, you’re essentially shifting some of that risk to yourself.
Staying out of accidents keeps your premiums low because insurers know you’re not a risk. Keep clear of moving violations and at-fault accidents. Drivers with a clean driving record benefit from the lowest car insurance rates.
You’ve worked hard to maintain your credit score, and car insurance is another place where having a high credit score can help you. People with good credit are statistically less likely to get in at-fault accidents.
Cash in on all the car insurance discounts you might be eligible for. Some might include:
Senior drivers who live in the following states will enjoy the low car insurance rates that come with their location:
|State||Insurance Company||Cheapest Monthly Premium|
|North Carolina||Direct Auto||$51|
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It is possible to find affordable car insurance as a senior citizen. It starts with getting quotes from several insurers to make sure you’re getting the best rate possible. The best thing you can do for your car insurance premiums – and your wallet – is to compare quotes from several insurers to make sure you’re getting the best rates possible.
Shopping for car insurance doesn’t have to be a stressful experience. With just a little research, you can find the right policy. Check out Insurify today to compare insurance companies and find the best car insurance for you.
The rate you’ll pay depends on your age, location, and other factors. Premiums can vary quite a bit. For example, the cheapest monthly rate we found was $44, while the highest was $193. That’s why it pays to shop around.
Rates vary so much that the best thing to do is to get several auto insurance quotes and compare them with each other. Insurify makes this easy and painless. Just answer a few questions about yourself, your car, and your driving history, and see what rates and perks insurers will offer you.
Having a good driving record proves to insurance companies that you’re a low-risk driver. Insurers like low-risk drivers because they’re less likely to have to pay out for an accident. If you can prove you’re a low risk by continuing to drive safely, your rates will adjust to reflect that fact.
The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.
Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.
With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.