Best and Cheapest Car Insurance for Seniors

Did you know seniors pay significantly less than average for car insurance? Senior auto insurance is often lower than average, but insurance rates depend on several factors.

But where can you find the best car insurance for elderly drivers? And how much is insurance for senior citizens? Don’t worry, we’re here to help you find affordable car insurance.

Our guide explores which auto insurance companies provide reliable coverage for senior citizens and how seniors can save money on insurance per month.

Continue reading to learn more about senior car insurance. Enter your ZIP code above to compare multiple quotes from the best insurance companies near you.

Which car insurance companies are best for seniors?

America’s top ten auto insurance companies provide the best coverage for most drivers, even seniors. Let’s examine the financial strength of the best insurance companies in the United States and explain why they’re the best.

A.M. Best Financial Strength Ratings for the Top Car Insurance Companies in the U.S.

We used A.M. Best’s financial strength ratings to show you which companies are better at paying out filed claims and providing satisfactory service to customers.

Superior ratings are the best ratings a company can get. And based on the ratings, State Farm, Geico, USAA, and Travelers are the highest rated car insurance companies.

What are the cheapest car insurance companies for seniors?

Affordable auto insurance for senior citizens is available all over the nation. However, it would be best if you shop around with the best insurance companies until you find quotes that fit your budget.

Let’s start by looking at car insurance rates from the top companies in the nation.

Monthly Senior Citizen Car Insurance Rates by Gender and Company

Car insurance for senior citizens is more expensive than the national average (which is about $94 a month) but cheaper than most age groups.

USAA auto insurance is the most affordable for seniors, but you must be a retired military veteran or be in the immediate family of someone in the U.S. military.

Therefore, State Farm, Travelers, and American Family are the following companies that are the most affordable for senior citizens.

At what age are you considered a senior?

You are considered a senior citizen or retired citizen at 65. But, some businesses say 55 years old is regarded as a senior citizen.

Why do senior drivers pay less for car insurance?

Auto insurance for drivers that are 55 and older is cheaper because their age group has the least risk of filing car insurance claims.

According to a 2019 study from the National Safety Council, drivers between 55 and 69 had the fewest crashes. Therefore, companies provide the best car insurance rates for senior citizens around that age group.

Can I get affordable senior car insurance at smaller companies?

Yes, you can. Some regional auto insurance companies are excellent service providers to senior citizens. Here’s a list of reliable companies that may be in your area:

• AAA
• Dairyland
• Direct Auto
• Erie
• Esurance
• The General
• Hagerty
• The Hartford/AARP
• Metromile
• Root Insurance
• Senior Direct Insurance

Although these insurance companies may not be the best car insurance companies for senior citizens, they’re good alternatives when the top insurance companies are too expensive.

Companies like Root Insurance and Metromile are usage-based, so the price of auto insurance depends on your driving habits and how often you drive.

Can you get senior car insurance discounts?

Yes, you can. The best auto insurance rates for senior citizens come from deals provided by the insurance company. Seniors pay hundreds of dollars less because they’re low-risk drivers who file fewer claims.

Senior citizens who maintain a clean driving record and excellent credit can also stack their savings and pay even less than average on some occasions. You can even save money by bundling homeowners or renters insurance to car insurance.

If you don’t drive often, you can take advantage of car insurance for low mileage senior drivers. Some insurance companies can give you at least 10% off for driving 5,000 miles or less during your policy.

What car insurance coverages should seniors buy?

Your auto insurance coverage depends on where you live and what you’re driving. If you own your vehicle, you can decide whether you want liability-only or full coverage. But if you’re still making payments on your car, you’re required to have full coverage insurance.

Liability-only auto insurance is cheaper, but it provides less coverage, and full coverage insurance is more expensive with total coverage.

Some car insurance companies include personal injury protection, medical payments, and uninsured/underinsured motorist coverage under full coverage when they’re optional in your state.

Along with auto insurance, you’ll have coverage amounts. These coverage amounts are limits of what insurance companies will pay if you’re in a car accident.

Liability coverage pays the other driver when you’re at fault, but full coverage covers the other driver and you (depending on the coverage you have).

Is car insurance for senior citizens worth it?

Yes, it is. Auto insurance is essential for drivers in America. Senior citizens can save more than most age groups, so the investment won’t be as expensive.

Case Study: Finding Affordable and Optimal Car Insurance for Seniors

Case Study 1: USAA – Affordable Coverage for Senior Drivers

In this case study, we examine how USAA provides affordable car insurance for senior drivers. Mr. Johnson, a retired military veteran, was able to take advantage of USAA’s exclusive coverage options for veterans and their families. By choosing USAA, Mr. Johnson saved over $200 per month compared to other insurance providers.

This case demonstrates how specialized insurance companies like USAA can offer competitive rates for senior citizens.

Case Study 2: State Farm – Reliable and Cost-Effective Insurance

Mrs. Thompson, a 68-year-old senior citizen, found the best deal for her car insurance with State Farm. By combining her homeowner’s insurance policy with her car insurance, she received a substantial multi-policy discount. State Farm’s excellent customer service and reputation for reliability were additional factors that influenced her decision.

This case highlights the benefits of bundling insurance policies and choosing a well-established insurance provider.

Case Study 3: American Family – Customized Coverage for Seniors

Ms. Rodriguez, a 70-year-old retiree, discovered that American Family offered customized coverage options tailored specifically for senior drivers. With American Family, she was able to adjust her coverage limits and deductibles to fit her needs and budget.

By opting for higher deductibles and slightly lower coverage limits, Ms. Rodriguez was able to save approximately 15% on her monthly premium.

This case emphasizes the importance of personalized insurance plans for seniors.

Case Study 4: Travelers – Competitive Rates and Extensive Discounts

In this case study, we explore how Travelers Insurance provided Mr. Davis, a 72-year-old senior driver, with the best value for his car insurance. Travelers offered a range of discounts for seniors, including a safe driver discount and a low mileage discount.

By driving fewer miles each year and maintaining a clean driving record, Mr. Davis was eligible for multiple discounts, resulting in significant savings on his annual premium.

This case demonstrates the potential for seniors to maximize their savings through various discounts offered by insurance companies.

Senior Car Insurance: The Bottom Line

Senior citizen discount car insurance is the most affordable in the United States. Older drivers pay less because they take fewer risks while driving, and seniors file fewer at-fault auto insurance claims.

But some car insurance companies issue more expensive rates for seniors regardless of their low-risk status. So, we encourage you to shop around until you find the perfect insurance policy.

Before buying senior car insurance from any company, use our free online quote tool below to compare quotes from multiple insurance companies in your area.