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Best cheap car insurance for seniors

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Finding the best cheap car insurance for seniors is as easy as comparing car insurance quotes to find the lowest rates for your desired coverage and getting the discounts that apply to you. Here we’ll show you how much you can save by comparing rates and cashing in on discounts, and offer expert advice from CarInsurance.com Consumer Analyst Penny Gusner on how much coverage to buy.

At any age, one of the most significant ways to find the best cheap car insurance  is by shopping around. That’s because the price of a policy will vary dramatically among  insurance companies, as they each use their own formulas to calculate what you pay, says Gusner. You can use our average car insurance rates tool to see how rates compare by age and coverage level in your neighborhood. And below, we provide comparison of rates for seniors by company.

You’ll see in the chart below that the difference among insurers for the same full coverage policy with a $500 deductible is, on average, a few thousand dollars. That’s how much you can save by doing a car insurance comparison.

CompanyAge 65CompanyAge 75CompanyAge 85
Concord Gen. Mut.$513Concord Gen. Mut.$562Concord Gen. Mut.$633
Nodak Mutual$585Bear River Mutal$654Bear River Mutal$654
Bear River Mutal$654Safety Ins.$747Safety Ins.$760
Erie$705Nodak Mutual$803Nodak Mutual$803
Safety Ins.$726Erie$841Acuity$938
USAA Cas.$731Farmers Mutual$900Farmers Mutual$951
Country Ins.$797USAA Cas.$900Vermont Mutual$979
Plymouth Rock$799Acuity$913Erie$984
Farmers Mutual$821Country Ins.$942NC Farm Bureau$1,066
Acuity$837Tennessee Farmers$977Tennessee Farmers$1,077
Vermont Mutual$843Vermont Mutual$979Country Ins.$1,159
USAA$858USAA$1,014Erie Exch$1,179
Progressive Paloverde$869Plymouth Rock$1,016United Financial$1,179
Tennessee Farmers$872Erie Exch$1,029Commerce/MAPFRE$1,180
Farmers Ins ID$887Erie P&C$1,035Farm Bureau$1,202
Nationwide Ag.$893Progressive Paloverde$1,051Arbella$1,222
Erie P&C$910NC Farm Bureau$1,066Erie P&C$1,232
Progressive Universal$912Commerce/MAPFRE$1,083Progressive Paloverde$1,240
Artisan & Truckers$920Nationwide Ag.$1,086GEICO Advantage$1,263
Erie Exch$927Progressive Universal$1,116Georgia Farm Bureau$1,275
Farmers Ins Columbus$945Farmers Ins ID$1,119Nationwide Ag.$1,293
GEICO Advantage$962Southern Farm Bureau$1,121USAA Cas.$1,295
Pemco$963Farm Bureau$1,127Integon Natl$1,297
First Natl Ins$993GEICO Advantage$1,134Plymouth Rock$1,319
Commerce/MAPFRE$997Pemco$1,165Progressive Universal$1,322
Progressive Gulf$997United Financial$1,179American Family$1,353
Mountain Laurel Assurance$1,007Farmers Ins Columbus$1,198GEICO Cas.$1,357
GEICO$1,010Mississippi Farm Bureau$1,209GEICO County Mutual$1,372
Progressive SE$1,010Artisan & Truckers$1,210USAA$1,389
GEICO Gen.$1,020Mountain Laurel Assurance$1,219Southern Farm Bureau$1,392
Southern Farm Bureau$1,028Arbella$1,222GEICO$1,435
NC Farm Bureau$1,057GEICO County Mutual$1,224Mountain Laurel Assurance$1,436
United Financial$1,065American Family$1,241Nationwide Affinity$1,444
Progressive HI$1,079GEICO Cas.$1,245Progressive Garden State$1,446
General Ins$1,088NJM$1,251Artisan & Truckers$1,457
Farm Bureau$1,090Georgia Farm Bureau$1,275Mississippi Farm Bureau$1,483
Owners Insurance$1,097Integon Natl$1,296Alfa$1,517
American Family$1,101Owners Insurance$1,298Pemco$1,536
GEICO County Mutual$1,111First Natl Ins$1,299NJM$1,542
Mississippi Farm Bureau$1,113Progressive SE$1,310Farmers Ins ID$1,546
GEICO Cas.$1,116Progressive Gulf$1,328Progressive SE$1,557
Arbella$1,130Nationwide Affinity$1,352Progressive Gulf$1,589
NJM$1,131GEICO$1,362State Farm Ind.$1,625
National Farmers Union$1,148Farmers Ins. IL$1,366National Farmers Union$1,627
Progressive Advanced$1,164Alfa$1,373Farmers Ins Columbus$1,657
Farmers Ins. IL$1,183Progressive Advanced$1,406GEICO Gen.$1,667
Safeco IL$1,214Progressive HI$1,426First Natl Ins$1,669
Progressive Classic$1,261Progressive Garden State$1,446Shelter Ins.$1,673
Farmers Ins OR$1,266State Farm$1,451Liberty Mutual$1,674
Georgia Farm Bureau$1,275National Farmers Union$1,452Progressive Advanced$1,676
Nationwide$1,275Nationwide$1,481Nationwide Fire$1,700
Progressive Northern$1,276Safeco IL$1,497Allstate$1,711
Nationwide Affinity$1,278Shelter Ins.$1,502Progressive HI$1,713
Integon Natl$1,279Nationwide Fire$1,509State Farm$1,717
Nationwide Fire$1,280GEICO Gen.$1,513Nationwide$1,752
State Farm$1,286General Ins$1,518Progressive Preferred$1,788
Progressive Preferred$1,290Farmers Ins.$1,532Farm Bureau ID$1,798
Auto Club of S. CA$1,305Farmers Ins OR$1,581Owners Insurance$1,798
Farmers Ins.$1,307Progressive NW$1,591Farmers Ins WA$1,835
Progressive Max$1,317Progressive Max$1,594Progressive NW$1,847
Allied$1,324Progressive Preferred$1,597Kentucky Farm Bureau$1,851
Progressive Premier$1,344Allied$1,599Farmers Ins. IL$1,858
Progressive NW$1,349Mid-Century Insurance$1,602Progressive Direct$1,861
Progressive Direct$1,351Allstate$1,619Progressive Max$1,864
Shelter Ins.$1,359Auto Club of S. CA$1,623Allied$1,916
Mid-Century Insurance$1,362State Farm Ind.$1,625Progressive Northern$1,932
Allstate$1,398Progressive Northern$1,637Liberty Mutual Fire$1,939
Farm Bureau ID$1,399Progressive Direct$1,639Nationwide Mutual$1,973
Depositors Ins$1,42921st Century$1,662Allstate$1,986
Progressive Garden State$1,446Liberty Mutual$1,674Auto Club of S. CA$1,995
Kentucky Farm Bureau$1,460Farm Bureau ID$1,683Farmers Ins.$2,032
21st Century$1,512Farmers Ins WA$1,684Progressive Classic$2,044
Allstate$1,524Kentucky Farm Bureau$1,690Mid-Century Insurance$2,060
Nationwide Mutual$1,552Allstate$1,711Depositors Ins$2,066
Farmers Ins AZ$1,559Progressive Classic$1,720Progressive$2,101
Amco$1,580Depositors Ins$1,746Oklahoma Farm Bureau$2,109
Farmers Ins WA$1,587Progressive Premier$1,790Farmers Ins HI$2,125
Colonial County Mutual$1,599Nationwide Mutual$1,800Progressive Premier$2,133
Progressive$1,604Progressive$1,862Safeco IL$2,169
Nationwide America$1,606Amco$1,880Amco$2,177
State Farm Ind.$1,625Nationwide America$1,901Nationwide America$2,208
Alfa$1,635Farmers Ins AZ$1,920Farmers Ins OR$2,219
Progressive Cnty Mutual$1,643Liberty Mutual Fire$1,921Progressive Marathon$2,264
Progressive Mountain$1,675Oklahoma Farm Bureau$1,935Progressive Cnty Mutual$2,280
Progressive Speciality$1,707Progressive Marathon$1,94021st Century$2,338
Safeco OR$1,755Progressive Cnty Mutual$1,953Louisiana Farm Bureau$2,420
Progressive Marathon$1,766Safeco OR$2,061Colonial County Mutual$2,460
Oklahoma Farm Bureau$1,831Colonial County Mutual$2,104Progressive Speciality$2,548
Western United$1,853Farmers Ins HI$2,125GEICO Ind.$2,560
Allstate NJ$1,862Allstate NJ$2,169Farmers Ins AZ$2,572
Liberty Mutual Fire$1,902Progressive Speciality$2,208CSAA$2,581
Home-Owners Ins.$1,966Western United$2,251United Farm Family$2,701
Allstate Fire$1,995Allstate Fire$2,254Progressive Select$2,706
GEICO Ind.$2,012Allstate Northbrook$2,282Allstate Ind.$2,710
Allstate Northbrook$2,059Home-Owners Ins.$2,292Progressive Security$2,778
Victoria Ins.$2,062Progressive Mountain$2,308Progressive Mountain$2,788
Liberty Mutual$2,090United Farm Family$2,353Home-Owners Ins.$2,827
United Farm Family$2,101Victoria Ins.$2,358Safeco OR$2,873
Farmers Ins HI$2,125Allstate Ind.$2,372Allstate NJ$2,967
Progressive Select$2,152GEICO Ind.$2,395Western United$2,977
CSAA$2,197Louisiana Farm Bureau$2,420Victoria Ins.$3,050
Allstate Ind.$2,218Progressive Select$2,454Allstate Fire$3,162
Auto Club S. CA$2,360CSAA$2,463Allstate Northbrook$3,217
Louisiana Farm Bureau$2,420Progressive Security$2,778General Ins$3,275
Foremost$2,578Auto Club S. CA$2,844Amica$3,424
Progressive Security$2,778Foremost$3,089Auto Club S. CA$3,516
Amica$2,807Amica$3,200Foremost$3,675
AAA Member select$2,831AAA Member select$3,210AAA Member select$3,741
Farmers Ins Ech$2,880Farmers Ins Ech$3,381Mercury$4,073
Mercury$2,950Mercury$3,418Farmers Ins Ech$4,144

Do seniors get a discount on car insurance?

Some car insurance discounts specifically apply to older drivers, while others are simply a good fit for those who may not be driving as much anymore or who own a home. Gusner breaks it down for you:

Defensive driving course: You can typically get a senior driver discount of up to 15 percent from your insurer by taking an approved defensive driving course, according to CarInsurance.com’s rate analysis. Your insurance company can tell you which online or in-person refresher courses would qualify you for a discount. In some states, discounts for senior drivers are mandated by law.

Home and auto bundle: Insuring your car with your home insurance company can cut an average of 11 percent annually from your car insurance rates, but can be up to 22 percent, depending on the company, according to our analysis of discount data.

Low mileage: The amount of miles you drive in a year to qualify for a low-mileage discount, again, depends on your insurance company, but can potentially trim up to 10 percent from your premium.

Usage based: If you don’t drive much and aren’t on the road during late-night hours, a “usage based” policy, such as Progressive’s Snapshot , might be a good fit. These programs involve plugging a device into your car that tracks your mileage, hard-braking and other metrics. Your rate is based in part on how much and how safely you drive and when. While car insurance companies claim you can save up to 20 percent for usage-based coverage, and that may be true in some cases, CarInsurance.com data show it’s typically around 10 percent.

Senior car insurance: How much coverage do I need?

“The cheapest car insurance isn’t always the best car insurance for protecting you financially, which after all, is the purpose of having coverage,” says Gusner. Here are her guidelines for ensuring you get the protection you need at a price you can afford.

When to buy full coverage

“Full coverage” is often used to describe a policy with the liability limits of $100,000 for injuries you cause to others, up to $300,000 per accident, with $100,000 for damage you cause to other vehicles or property, with a $500 deductible on comprehensive and collision, which cover damage to your car. Gusner recommends full coverage, unless your car is very old and worth very little. “If you own a home, have assets and relatively new car, full coverage helps to protect your financially,” says Gusner. “Even relatively minor accidents can incur expensive medical bills or car repairs, and if the cost exceeds your limits, you’re responsible for paying the difference. Worse, in some cases, your assets can be seized to pay for the damage.”

Raising deductibles

A deductible is an amount you pay to repair your car before your comprehensive and collision insurance kicks in. If you want to save on a policy that includes comprehensive and collision insurance, you can opt for a high deductible. This is an especially good idea if you have some cash stowed away to pay the deductible if you have to file a claim. Insurers lower rates on policies with high deductible amounts because drivers with high deductibles file fewer claims. That means costs are lower for the carrier.

Higher liability limits

If you can’t afford full coverage, or you have a car that’s not worth much, Gusner recommends at least increasing your liability limits from your state minimum required to drive legally to 50/100/50.

Typically, buying higher liability limits doesn’t cost that much more. Consider the following, based on CarInsurance.com’s analysis of rates from up to six major insurers for nearly all ZIP codes:

  • The nationwide average cost for state minimum liability coverage is $526
  • Increasing that coverage to $50,000/$100,000/$50,000 averages only $561. So, you only pay another $35 a year by increasing your coverage.

Just remember that carrying only liability means you have to pay for damage to your car in accidents that are your fault.

 

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