The Best Cheap Car Insurance Companies for Seniors

many drivers will see increasingly lower indemnity rates as they get older and get more drive experience. however, as you continue to age — normally starting at age 65 — you may see your car indemnity rates increase slightly, as policy companies consider seniors slightly more hazardous to insure than middle-age drivers. MoneyGeek collected thousands of quotes to figure out the cheap companies for seniors on average, broken down by localization and driving history. We have besides recommended the best car indemnity companies for seniors based on which best serve different types of elder drivers.

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Cheapest Car Insurance Companies for Senior Drivers

MoneyGeek reviewed the car insurance companies that write policies in most of the country to find the cheapest cable car indemnity for seniors. On average, the cheapest companies for a 70-year-old aged are :

  • State Farm: $1,145 per year
  • GEICO: $1,151 per year

USAA was the cheapest car insurance party overall, but it only offers coverage to active and go to bed military members and their families.

9 Cheapest Car Insurance Companies for Senior Drivers

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  • company annual bounty
  • 1 .State Farm $ 1,145
  • 2 .GEICO $ 1,151
  • 3 .Nationwide $ 1,345
  • 4 .Allstate $ 1,377
  • 5 .Progressive $ 1,547
  • 6 .Farmers $ 1,655
  • 7 .Travelers $ 1,658
  • 8 .MetLife $ 1,665

Insurance Rates

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guarantee you are getting the best rate for your indemnity. Compare quotes from the top insurance companies. widget-location-pin The cost of car indemnity for seniors depends on several individual factors, including age, credit grade, driving history, where you live and the character of car you drive. As you get older, age can make a bad remainder in the rate quotes you get from cable car insurance companies. consequently, comparing car insurance quotes from several companies can help you find the best rates for your circumstances. We calculated the most low-cost rates based on a car policy policy with 100/300/100 liability policy and comprehensive examination and collision coverage for a 70-year-old driver.

Cheapest Car Insurance Companies for Senior Drivers – By State

insurance is regulated by states, so the brassy car indemnity for seniors might be unlike in your state than it is at the home level. For the most part, GEICO ( cheapest in 20 states ) and State Farm ( 16 states ) remain the cheapest options on average. These insurers offer the cheapest policy in Florida, Georgia and California for exemplar. But there are many early insurance companies that rank clear for affordability in individual states. Erie and Farm Bureau policy affiliates are the cheapest options in three states each. MetLife is the cheapest cable car indemnity for seniors in Michigan and New Mexico. USAA is excluded from this analysis because of its eligibility requirements, but if it were included it would be the cheapest in 35 states, so eligible drivers should get a quote. Rates in this analysis are based on a sample 70-year-old driver with 50/100/50 indebtedness insurance and comprehensive examination and collision coverage.

Best Car Insurance Companies for Senior Drivers in 2021

Finding brassy car insurance for seniors is not a one-size-fits-all procedure. Each car insurance ship’s company evaluates drivers based on their individualized factors, such as historic period, location, vehicle type, driving history and credit mark. therefore, it ’ s important to get customize quotes from several different companies to find the cheapest policy available. While State Farm was the most low-cost option for most categories in our research, this could vary based on your circumstances, so constantly get and compare your personalize quotes to find the cheapest senior car indemnity.

Best Overall: State Farm

Although State Farm doesn ’ thyroxine offer a elder rebate specifically, the ship’s company does offer several discounts that can reduce your car insurance premiums .

State Farm

Ways to save with State Farm include an accident-free rebate, a good drive discount and discounts for cars with specific guard features. You besides can enroll in State Farm ’ s Drive Safe & Save program, which monitors your driving and rewards you for good drive habits. For elder drivers who drive less these days, State Farm besides offers a premium reduction if you drive less than 7,500 miles per year.

Car Insurance Rates for Seniors – Average Driver

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  • party annual agio
  • 1. country farm $ 1,145
  • 2. GEICO $ 1,151
  • 3. countrywide $ 1,345
  • 4. Allstate $ 1,377
  • 5. progressive $ 1,547
  • 6. Farmers $ 1,655
  • 7. Travelers $ 1,658
  • 8. MetLife $ 1,665

Best for Senior Drivers With a DUI: State Farm

unfortunately, having a DUI on your record will adversely affect your car indemnity rates for an unspecified period. For customers with a DUI on their drive record, State Farm offers the cheapest senior cable car insurance rates .

State Farm

Getting cheaper rates with State Farm could be specially valuable if you travel often, as the company offers coverage on motorhomes, boats and off-road vehicles. Your State farm policy may provide coverage on rental cars so you can avoid that dearly-won expense at the rental counter.

Car Insurance Rates for Seniors With a DUI

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  • company annual premium
  • 1. state farm $ 1,991
  • 2. USAA $ 2,008
  • 3. progressive $ 2,490
  • 4. nationally $ 2,574
  • 5. Allstate $ 2,684
  • 6. Farmers $ 2,685
  • 7. GEICO $ 2,911
  • 8. Travelers $ 3,535
  • 9. MetLife $ 4,924

Best for Senior Drivers With Tickets: State Farm

Having a holocene slate on your record — or several tickets over the years — can result in an increase in your car insurance costs .

State Farm

For seniors, State Farm offers the most competitive rates for drivers with a ticket. In fact, State Farm ‘s average annual premium is more than $ 500 lower than MetLife, the most expensive insurance company for this category in MoneyGeek ‘s analysis.

Car Insurance Rates for Seniors With a Ticket on Their Record

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Best for Senior Drivers With Accidents: State Farm

According to the Insurance Institute for Highway Safety, Highway Loss Data Institute, drivers senesce 70 and older have higher crash rates per sea mile traveled than middle-aged drivers. only young drivers have a higher clang pace .

State Farm

On average, State Farm provides the lowest cable car indemnity rates for seniors with an accident on their record. That ’ randomness adept news program as there is an increased risk of accidents for drivers long time 65 and older.

Car Insurance Rates for Seniors With an Accident on Their Record

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  • company annual premium
  • 1. state grow $ 1,455
  • 2. USAA $ 1,551
  • 3. GEICO $ 1,865
  • 4. countrywide $ 1,950
  • 5. Allstate $ 2,075
  • 6. Farmers $ 2,617
  • 7. Travelers $ 2,661
  • 8. MetLife $ 2,877
  • 9. progressive $ 2,903

Best for Military Families and Veterans: USAA

specifically for active and retire military members and their families, USAA continually offers the lowest rates on aged car policy .

USAA

USAA offers condom driver discounts for those with good drive records for at least five years. You besides can receive discounts based on the number of miles you drive each year, which could prove substantial if you no longer drive much.

Car Insurance Rates for Seniors With a Military Background

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  • company 50/100/50 CC
  • 1. GEICO $ 1,030
  • 2. state of matter farm $ 1,030
  • 3. Allstate $ 1,252
  • 4. nationally $ 1,272
  • 5. progressive $ 1,366
  • 6. Farmers $ 1,527
  • 7. Travelers $ 1,529
  • 8. MetLife $ 1,593

Average Senior Car Insurance Rates by Coverage Type

elder car policy coverage ranges from basic indebtedness car indemnity coverage, normally required by submit law, to full coverage car insurance for damages and expenses for both you and the early driver if you are at defect. Full coverage besides protects you for damage to your car not sustained in a cable car accident and larceny. How a lot coverage you need depends on your circumstances, but full coverage with higher utmost limits could protect your nest egg. The best car insurance option for you depends on your individual situation and needs, including your vehicle type, income, savings and more. If you ’ re looking to save money, reducing your coverage or raising your deductible could result in lower car policy premiums. For a 70-year-old driver, the average price of minimum liability policy is $ 797, while full moon coverage with 50/100/50 limits costs an average of $ 1,334, which is an increase of 67.4 % .

average CAR INSURANCE FOR A SENIOR

coins Minimum liability annual monetary value : $797car Comprehensive/Collision ( 50/100/50 ) annual price : $1,334 Comprehensive/Collision ( 100/300/100 ) annual monetary value : $1,454

How to Lower Your Car Insurance Premium After Turning 55

For the most part, drivers in middle-age brackets typically have the lowest car indemnity rates, but there are ways to lower your bounty after turning 55. While it may be time-consuming to implement some of these steps, the savings could be worth it when you find bum car insurance for senior citizens .

  • Shop around for a new policy. Companies continually change how they evaluate drivers; therefore, when you’re ready to renew your policy, always shop around with at least three companies to get personalized quotes. Switching car insurance companies could help you save.
  • Update your driver status. If you haven’t updated your policy in a while, double-check the “listed drivers.” Removing people who no longer drive your vehicle from your policy could reduce your rates.
  • Take a defensive driver class. Many car insurance companies offer discounts for drivers who complete a certified defensive driver class. Check with your car insurance company for recommended courses.
  • Choose a cheaper car to insure. Car insurance companies evaluate risk based on the type of vehicle you have, so choosing a less risky car — say a four-door sedan rather than a sports car — could result in significant premium savings.
  • Increase your deductible. If you have the financial means to pay a higher car insurance deductible if you file a claim, you could reduce the amount of your premium.
  • Bundle your insurance coverage. Most car insurance companies offer multi-car and multi-policy discounts if you insure more than two vehicles or purchase both your car and homeowners insurance from the same company.
  • Add protective technology. Many car insurance companies offer discounts if your car contains safety features like a car alarm or air bags.
  • Apply discounts. Most car insurance companies offer various discounts, ranging from safe driver discounts for good driving history to discounts for automatic premium payments. Many companies also now offer discounts based on your driving habits, monitored using technology installed on your car and your smartphone.

Expert Advice

  1. Are seniors charged more for car policy ?
  2. What are ways seniors can save money on cable car policy ?
  3. What should seniors expect for in cable car insurance companies to find the best coverage ?

Heidi Petschauer, CIC Heidi Petschauer, CIC President, Petschauer Insurance

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About the generatorexpert-profileexpert-profile Karon Warren is a professional journalist who has covered personal finance, health policy, home insurance, car indemnity, mortgages, deposit and more for two decades. Karon earned her bachelor of arts degree in journalism from the University of Southern Mississippi. She is besides a member of the american Society of Journalists and Authors. Karon uses her diarist skills to create in-depth, well-researched finance stories that educate people so they can make inform fiscal decisions that best serve their fiscal goals.

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