Who Has the Least Expensive Car Insurance for Seniors?


Who has the cheapest car insurance for seniors?

If you’re over the age of 65, you might have noticed a bump in your car insurance rates. Seniors typically pay more than people in the 30- to 50-year-old range, mostly because of slower reflexes, but that doesn’t mean all insurance companies are alike.

There are many car insurance companies that offer good rates for senior citizens, but among them are companies such as Geico, Nationwide, Progressive, and American Family Insurance. This does not mean, however, that other companies aren’t competitive, so let’s take a look at some of the reasons why.

Paying Less for Your Car Insurance

Companies like the ones mentioned above often have loyalty savings programs that can cause your insurance rates to go down by as much as 30%. Other companies negotiate their rates with their customers, and you can also do some comparison shopping with other providers to find rates that are less expensive.

Below are a few other ways to save money on your car insurance.

Look for Good/Safer Driver Discounts

If you’ve been accident-free for three years, have had no DUIs, and have never had an at-fault collision during that time frame, many insurance companies allow you to get this discount. It’s worth it because you can save anywhere from 5% to 25% on your premiums when you do this.

Take a Mature Driving Course

Organizations such as AARP provide information related to mature driving courses that senior citizens can take to help them become more aware of things they need to look out for while driving as they age. In fact, AARP offers several courses that help senior citizens become better drivers so they can lower their insurance premiums.

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It isn’t that senior citizens need to be taught how to drive. It’s just that they need to be updated on any new laws that are on the books and learn what to do in certain situations when their reflexes aren’t what they used to be. The courses are geared toward older individuals and provide lots of valuable information.

Driving Enhancements and Practical Tips

These days, there are certain enhancements that many cars have that can save you on your insurance. These include automated driving assistance features, backup cameras, and more. All of these help senior citizens become better drivers and help them save on their insurance premiums.

In addition, below are some practical ways you can get discounts on your car insurance:

  • Bundling your auto insurance with other types of insurance that the company provides usually provides you with very good discounts.
  • If you drive less than 10,000 miles per year, you may be eligible for low-mileage discounts.
  • If you let the insurance company install a device that tracks your mileage and other aspects of your driving experience, you can be eligible for their usage-based insurance (UBI) program to save money.
  • Multi-car discounts can save you up to 25% on your car insurance.
  • Some anti-theft devices are sometimes good for additional discounts.

Instead of an actual device, some car insurance companies have an app that tracks your driving and can be yet another way to get a UBI discount. This is usually a lot easier than a device that is installed by the insurance company because all you do to start using it is download it onto your cell phone.

Finally, many senior citizens are a little more financially stable than they were in their younger years and therefore, they can save money on insurance premiums by paying their premium in full every year instead of on a month-to-month basis.

Insurance companies offer a lot of ways for you to save money, so it always benefits you to ask them for information on this service.

Frequently Asked Questions (FAQs)

Are there other insurance companies that help seniors save money?

Yes. In addition to the ones mentioned above, others include USAA, The Hartford AARP Program, Farmers Insurance Group, Dairyland, and Amica Insurance.

Do I have to contact each of these companies for a quote?

Fortunately, no. There are numerous websites and apps you can use that will compare insurance companies for you and then provide you with detailed information on each company so that you can decide for yourself which one is best.

Do I have to stick with large companies to get good rates?

Not necessarily. Many newer companies have great rates because they work hard to be competitive with the others.

Conclusion

Although senior citizens can find their car insurance rates going up as they get older, the good news is that they can easily find ways to lower those rates. If your own insurance company can’t find a way to lower your premium, other companies will likely be able to. It just takes some due diligence on your part and a little time, but it will be well worth it in the end once you’re paying lower insurance rates for your vehicles.

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Who has the cheapest car insurance for seniors?

James May

I use more of my time on cars than anything else. If you're like me, then you'll hopefully like what I am writing about cars on this website.

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