The Best Car Insurance Companies for Senior Citizens
Use our easy guide to find the right car insurance coverage for seniors.
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Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
As a mature, experienced driver, you may be able to save money on your car insurance through safe driving and senior discounts. But what if you have tickets or accidents on your driving record? If you’re a veteran, do you get special pricing?
While an independent insurance agent can help you find the right auto insurance, knowing what companies to look for in advance is useful. Here’s a guide to the best car insurance companies for seniors, plus answers to your other car insurance questions.
Get started with an independent car insurance agent. They can help you get connected to the best car insurance for your needs. Any information you provide will be sent only to the agent you choose to work with.
Car Insurance for Seniors
Car insurance for seniors under the age of 75 typically offers affordable rates and special discounts. Mature drivers generally have an extensive driving history, which helps insurers more accurately assess their decision-making skills behind the wheel. This experience also often translates to safer driving.
After age 70, your car insurance premiums might begin to climb. Drivers in this age range tend to carry a higher risk of being in accidents and sustaining serious injuries. However, working with an insurer that designs car insurance for seniors might help you score lower rates.
The Best Overall Auto Insurance Company for Seniors and Drivers over 65: AARP® Auto Insurance from The Hartford
AM Best Rating: A+ (Superior)
The Hartford offers robust coverage options, decent rates, and ample savings opportunities.
It’s no surprise that auto insurance designed specifically for seniors tops the list as best overall. AARP® auto insurance from The Hartford offers reasonable rates, plenty of opportunities for discounts, and key optional coverages.
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With an excellent financial rating, 200+ years of experience, and coverage exclusively offered to drivers over 55 years old, The Hartford delivers reliable AARP car insurance at reasonable prices, with an array of benefits for seniors.
Runner-up: Nationwide® offers robust coverage options, decent rates, and ample savings opportunities.
The Best Auto Insurance Company for Senior Veterans: USAA®
AM Best Rating: A++ (Strongly Superior)
USAA® is dedicated to serving military members, veterans, and their families. When it comes to senior veterans, the company’s rates beat out the competition. Multiple discounts, safe driving, and pay-per-mile programs are available to save you even more money.
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With high ratings across the board, a century of experience, and a commitment to our troops, USAA is the top option for senior veterans who want the best rates with reliable service.
Runner-up: Liberty Mutual® has one of the strongest military discounts after USAA.
The Best Auto Insurance Company for Seniors with Tickets: Erie Insurance®
AM Best Rating: A+ (Superior)
Erie Insurance® understands that everyone makes mistakes. They offer the lowest rate increases for drivers with tickets on their record, and their Rate Lock® feature means your rates won’t change even after you file a claim.
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Backed by almost 100 years of experience, Erie is a Fortune 500 company that offers robust coverage, with some special features included in base policies. Erie’s rates are reasonable for those with tickets, and their savings opportunities can get you closer to pre-ticket rates.
Runner-up: Progressive® offers moderate rates for seniors with tickets on their driving record.
The Best Car Insurance Company for Seniors with a DUI: Progressive®
AM Best Rating: A+ (Superior)
When it comes to moderate rates for seniors with DUIs on their record, Progressive® is a leader, with one of the smallest rate increases available.
Coverage from this company also comes with cost-saving features like the Name Your Price® tool and the Snapshot® program.
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Progressive is a financially strong, well-established insurer that sets itself apart with coverage that’s tailored to your budget. Coverage is available in most states, and it offers 24/7/365 service.
Runner-up: Erie Insurance’s reasonable rates extend to those with DUIs on their record.
The Best Auto Insurance Company for Seniors with Accidents: Auto Owners®
AM Best Rating: A++ (Strongly Superior)
Auto Owners® offers some of the lowest rates for drivers with an accident on their record, and their accident forgiveness option protects qualifying drivers from rate increases if it happens again. Auto Owners provides ample coverage types, and if you don’t mind phone calls, it’s easy to file a claim.
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As one of the nation’s largest insurers, Auto Owners can give seniors peace of mind. With this company, previous accidents won’t bankrupt you, and you can expect to get solid coverage that’s easy to navigate.
Runner-up: Erie Insurance also provides low to moderate rates for those with accidents on their records.
Best Auto Insurance Company for Seniors with Low Mileage Driving: Nationwide®
AM Best Rating: A+ (Superior)
If you don’t drive many miles, then Nationwide® may be your new favorite car insurance company. Their SmartMiles® program is available in most states, starts at a $60 base rate, and could lead to significant savings. The less you drive, the more you save.
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For seniors with clean driving records, Nationwide offers excellent service, robust coverage options, numerous ways to save, and pay-per-mile insurance options.
Runner-up: Allstate® offers Milewise® in some states, a pay-per-mile program that provides transparency and control over insurance costs.
Factors that Affect the Cost of Senior Auto Insurance Rates
From your vehicle type to your driving record, several factors can impact what you pay for car insurance. Understanding them can help you identify opportunities to lower your costs.
Type of vehicle
Your car’s age, condition, and value affect how much your insurer will have to pay if it gets damaged. For example, if you switch from driving a high-end car to a standard family car, your rates are likely to decrease.
Daily driving habits
How often you drive is a factor in determining your insurance rates, too. The more you drive, the higher the risk that you’ll get into an accident. If you’re paying the same rate during retirement that you were when you were commuting daily to work, you’re most likely paying too much.
Driving history
Your driving record is a key factor in determining your auto insurance premium. A history of accidents or speeding tickets can indicate risky or distracted driving, bumping up insurance costs.
Defensive driving courses
Many mature drivers haven’t refreshed their driving skills since they initially learned to drive decades ago.
Taking a driving course for mature drivers can enhance your driving skills, helping you stay safe and maintain your good driving record. You may also get an insurance discount for taking the course.
Coverage
Finally, an important and often overlooked factor is whether you’re paying for coverage you don’t need. For example, if you rarely drive, it probably makes more sense to switch to a pay-per-mile policy than to keep a standard one.
Senior Auto Insurance Discounts
Insurance companies often offer a number of discounts, and it pays to ask about any discounts you may qualify for, including:
- Age discount: Many discounts start at around 50 and increase every five years, typically through age 70.
- New business and customer loyalty: Many insurance agencies show appreciation for your business when you start a new policy, or when you renew one.
- Low mileage: If you rarely use your vehicle, such as driving 5,000 miles per year or less, you might receive a special low mileage discount.
- Multi-line discount: If you have multiple policies with the same insurer, such as home and auto, you can typically qualify for a discount.
- Multi-vehicle discount: If you insure multiple vehicles on the same policy, you can typically enjoy a multi-car discount.
- Payment in full: Paying your entire premium annually saves on service charges and those savings are passed on to you.
Make sure you ask your agent for all available discounts and update them for any life changes, like retirement, that could qualify you for new savings.
Working with a local agent who takes the time to listen to your needs and provide personal assistance can make a big difference in your costs and the quality of your customer experience.
Senior Car Insurance Can Be Affordable
Your senior auto insurance doesn't have to break the bank. As you can see, there are many ways to save. Reviewing your coverage annually with an independent car insurance agent can help ensure that your policy fits your current needs.
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Frequently Asked Questions about Senior Auto Insurance
Drivers typically enjoy low car insurance premiums between the ages of 50 and 70. After 70, they may be more likely to get in accidents and get injured, so rates often begin to increase.
Departments of Public Safety or Departments of Motor Vehicles in many states mandate discounts for seniors who complete defensive driving courses. However, not all carriers or states may offer these discounts.
Retirees typically drive less and have more experience, so many do see their car insurance premiums go down, especially if they have clean records. Some insurers offer discounts exclusively for retired drivers.
The best way to lower car insurance costs is to maintain a safe driving record and make sure you get all discounts for which you qualify. You can also compare quotes from different insurers to make sure you’re getting the best rates possible.
Imagine a 67-year-old man who’s paying $2,340 a year in car insurance premiums. An independent agent helped him find lower-cost coverage and secure advanced quote, defensive driving, and safe driving discounts. His annual cost is now $1,710. That’s over $600 in savings.
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