Cheapest car insurance for seniors

The cheapest car insurance companies for seniors are Nationwide and Travelers. Drivers over age 65 start to see increasing car insurance rates, but shopping around can save you a lot of money.

Geoff Williams is a freelance journalist and author in Loveland, Ohio, where he lives with his two teenage daughters. He has been writing about insurance and personal finance since the mid-2000s. His work has appeared in numerous publications, including Life magazine, Ladies Home Journal, The Washington Post, CNNMoney, Entrepreneur, Forbes.com and U.S. News & World Report. Williams is also the author of several books, including "Washed Away: How the Great Flood of 1913, Americas Most Widespread Natural Disaster, Terrorized a Nation and Changed It Forever" and "C.C. Pyles Amazing Foot Race: The True Story of the 1928 Coast-to-Coast Run Across America".

John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.

At Insurance.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

The cheapest car insurance for seniors depends on where you live and your driving record, but Geico and State Farm both have low average rates. Cheap senior car insurance can be harder to find because, statistically, senior drivers are more likely to have accidents. Auto insurance rates go up around age 65 and climb from there.

The average cost of car insurance for a 65-year-old is $486 a year, or $41 a month, for state minimum coverage and $1,740, or $145 a month for full coverage, based on the most recent Insurance.com data. Rates rise steadily as you get into your 70s and 80s.

Fortunately, there are car insurance discounts for senior drivers and plenty of other ways to save on senior car insurance.

Get the cheapest car insurance for seniors with the tips below.

Key takeaways

What is the cheapest car insurance for senior citizens?

Although many car insurance companies offer great auto insurance for seniors, a few stand out. The Hartford's AARP Program is a well-known insurance plan that caters to seniors, but that doesn’t mean it’s always the cheapest.

USAA, Nationwide, Travelers, Geico, and State Farm all rate highly for senior drivers. Geico, for instance, has a policy called Prime Time, a guaranteed renewal program offered in 30 states to those 50 or older with no one on the policy under 25 and meeting other qualifications (it's not available in all states).

Allstate offers senior discounts for those older than 55 or working part-time. Dairyland provides a pay-as-you-go option ideal for seniors who may have been denied standard insurance, and Metromile is a cheap alternative for those who drive infrequently.

Which company is cheapest, however, will depend on several factors, including your age and where you live.

Cheapest auto insurance for seniors

No single company is the best for cheap auto insurance for seniors. The cost will vary between companies due to your risk factors (age, location, driving record, vehicle model, etc.). The best practice is shopping around and looking for discounts to lower your rate.

Some alumni groups and professional business associations also offer group plans and reduced rates. Check with any organizations you're a member of to see what they offer. Buying car insurance as part of a group can earn you many benefits. To get low-cost car insurance for seniors, shop around and ask for discounts to discover what you're eligible for and what can help reduce your premium.

Cheapest car insurance companies for seniors

Select your age and state below to see the average annual and monthly rates.

How much is auto insurance for seniors?

Auto insurance in your 50s is usually cheaper than for other age groups. Accident statistics show this age group has the safest record on the road. 

As you move into your 60s, rates tick up a bit, and you’ll be looking to find out what company has the cheapest car insurance for seniors. But you'll still have lower rates than other groups, notably teens.

"Seniors have experience driving, so it is not comparable to teens," said Janet Ruiz, director of strategic communications at the Insurance Information Institute. "Many companies do have safe driving courses for seniors to alert them to the specific things they may encounter as they age. Some give a discount if you take the safe driving course, which is usually offered online."

Here are the average costs for four different age groups and three types of insurance coverage. We include the cost of a bare-bones state minimum policy, a liability-only policy with higher limits of $50,000 for bodily injury coverage per person, $100,000 per incident and $50,000 in property damage coverage, written as 50/100/50. We also included a policy with liability limits of 100/300/100 plus collision and comprehensive, with a $500 deductible.

Expert tip: You need collision and comprehensive coverage if you have a financed or leased car or a newer car you can't afford to replace.

Data updated in 2024 Read our full methodology

When you hit 65, you'll likely see a bump in your car insurance premium. It's a good time to re-evaluate your current insurance and compare it to others that cater to car insurance for seniors.

How seniors can find cheap insurance rates

Discounts are the easiest way to get cheaper car insurance. Several auto insurance companies offer discounts that are specifically applicable to mature drivers.

Loyalty to your auto insurance company can earn you up to 30% off your premium. Geico, Nationwide, American Family, and Progressive are among those companies that promote loyalty savings programs. You should still shop around, however. Most experts agree that loyalty savings rarely outweigh saving by switching providers.

Good driver and safe driver discounts are available to all ages and from most companies and can get you between 5% and 25% in savings. The insurance company usually requires that you have a clean driving record for at least three years. That means no DUIs, no moving violations and no at-fault collisions.

AARP offers mature driver courses that can sometimes reduce your premiums from 5% to 15%. Most states require insurers to offer a discount.

In some states, car insurance companies are required to offer a discount to seniors for completing a defensive driving program; some offer it even if it's not required.

Daniel Ferrara, an emeritus sales rep at Liberty Mutual, has several suggestions for getting the best rates as a senior driver:

Why do auto insurance rates for seniors go up?

Car insurance companies base rates on how much risk a driver poses to them. If statistics show you are in a group more likely to file a claim, you'll pay more for auto insurance. Mature drivers have experience but also start to see a decline in vision, response time and other things that affect driving skills.

Drivers aged 70 and older have higher crash death rates per mile than middle-aged drivers (ages 35-54), according to the Centers for Disease Control and Prevention. Much of that’s due to increased vulnerability to injury in a crash. In 2019, the latest statistics available, about 8,000 older adults, 65 years of age and up, were killed in traffic crashes and more than 250,000 were treated in emergency departments for crash injuries.

The CDC notes that age-related physical issues, such as arthritis, reduced flexibility and limited range of motion and decline in vision, plus diminishing cognitive function, can affect senior drivers' driving abilities. This is why keeping a stellar driving history will be important to get cheaper car insurance rates. If you drive beyond your current abilities and get a ticket or are in an accident, this will signal to insurers that you pose a higher risk.

Expert Advice

Daniel Ferrara

Emeritus Sales Rep for Liberty Mutual, based out of Katonah, N.Y.

“Car insurance rates tend to rise as drivers get older because insurance carrier statistics prove that older drivers get into more accidents as their reflexes get slower. Drivers' reactions’ time slow as they age,” Ferrara says. “What age do rates go up? That varies from carrier to carrier but generally, it is around age 64.”

Shop wisely for senior car insurance

Navigating scams means being alert and cautious. Make certain to shop around with multiple car insurance companies to get the best auto rates for seniors. Start with your current insurance provider to get a baseline for costs, and then, using the same policy parameters (liability limits, coverages and deductibles), shop with at least three other car insurance companies. You may find other insurers that don't rate as harshly for aging drivers as your present one, or finding who you have is still the best choice.

If you find a cheaper, smaller insurance company, don't switch until you do some research. Check out the company's financial strength with AM Best and then check for customer and claims service reviews. You want your insurance company to have the means to pay out on claims and good customer service so you don't feel ignored after an accident.

Beware of senior car insurance scams

Make sure you don't fall victim to scams when scouting for affordable auto insurance. According to the National Council on Aging, financial scams "targeting seniors have become so prevalent that they're now considered 'the crime of the 21st century.'"

There are several scams that seniors should watch out for, according to AARP:

If you're looking for low-income auto insurance for seniors and find a rate that seems too good to be true, make sure to check the company out first. You can check out their financial strength with AM Best and check with your state's Department of Insurance to make sure they are a legitimate company.

Methodology

Insurance.com commissioned Quadrant Data Services to field rates in 2023 for all available ZIP codes from top insurance companies for drivers aged 65 and up. Rates are based on a 2021 Honda Accord LX, good credit, and a clean driving record.

In case you missed it

Helpful auto insurance articles & guides

950 Tower Ln, Suite 600, Foster City 94404

Quick links

Insurance products

Company

Insurance.com is not affiliated with any state or government agency.

Copyright © 2024 Insurance.com. All Rights Reserved.

Disclaimer: The advertisers appearing on this website are clients from which QuinStreet receives compensation (“Sponsors”). Compensation may impact where the Sponsors appear on this website (including the order in which they appear). Our websites do not, and are not intended to, provide a comprehensive list of all companies that may provide the products and services you are seeking. 950 Tower Ln, Suite 600, Foster City 94404