Best and Cheapest Car Insurance for Seniors
Senior car insurance can be as low as $121 per month. However, senior auto insurance varies for each person and company. USAA, State Farm, American Family, and Travelers provide the cheapest car insurance for seniors. But companies like Geico have more expensive auto insurance rates for senior drivers. Senior citizens can stack insurance discounts and save hundreds of dollars per year. Shop around and compare multiple insurance companies to secure the best deal for senior insurance.
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Scott W. Johnson
Licensed Insurance Agent
Scott W Johnson is an independent insurance agent in California. Principal Broker and founder of Marindependent Insurance Services, Scott brings over 25 years of experience to his clients. His Five President’s Council awards prove he uses all he learned at Avocet, Sprint Nextel, and Farmers Insurance to the benefit of his clients. Scott quickly grasped the unique insurance requirements of his...
UPDATED: Apr 27, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance-related. We update our site regularly, and all content is reviewed by car insurance experts.
UPDATED: Apr 27, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Seniors pay the least for car insurance
- State Farm, American Family, and Progressive are the cheapest car insurance companies for seniors
- USAA is the best car insurance company for retired veterans who are 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.
Table of Contents
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.
| Auto Insurance Company | A.M. Best Ratings | Direct Premiums Written (in Billions) | Market Shares (in Percent) | Loss Ratios (in Percent) |
|---|---|---|---|---|
| State Farm | A++ (Superior) | $40.3 (↓) | 16.20 (↓) | 63 (↓) |
| Geico | A++ (Superior) | $33.9 (↑) | 13.60 (↑) | 71 (~) |
| Progressive | A+ (Superior) | $33.1 (↑) | 13.30 (↑) | 62 (~) |
| Allstate | A+ (Superior) | $25.8 (↑) | 10.40 (↑) | 56 (↓) |
| USAA (Military & Family Members) | A++ (Superior) | $15.7 (↑) | 6.30 (↑) | 77 (~) |
| Liberty Mutual | A (Excellent) | $11.8 (~) | 4.70 (↓) | 62 (~) |
| Farmers | A (Excellent) | $9.9 (↓) | 4.00 (↓) | 61 (~) |
| Nationwide | A+ (Superior) | $5.7 (↓) | 2.30 (↓) | 58 (↓) |
| American Family | A (Excellent) | $5.1 (↑) | 2.10 (↑) | 69 (~) |
| Travelers | A++ (Superior) | $4.8 (↑) | 2.00 (↑) | 60 (~) |
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.
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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
| Companies | Average Monthly Car Insurance Rates of a Married 60-Year-Old Female | Average Monthly Car Insurance Rates of a Married 60-Year-Old Male |
|---|---|---|
| Allstate | $243 | $249 |
| American Family | $166 | $168 |
| Farmers | $195 | $204 |
| Geico | $187 | $190 |
| Liberty Mutual | $287 | $307 |
| Nationwide | $178 | $185 |
| Progressive | $166 | $171 |
| State Farm | $156 | $156 |
| Travelers | $171 | $173 |
| USAA | $121 | $121 |
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.
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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.
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.
Frequently Asked Questions: Senior Car Insurance
Did we miss something about senior auto insurance? Check out these answers to frequently asked questions to learn more detail about senior car insurance.
#1 — Does car insurance increase after 70?
Yes, it can. Some auto insurance companies issue higher rates for drivers 70 and older because drivers older than 69 are more likely to get into accidents that cause severe or fatal harm.
#2 — Is Geico a good car insurance company for seniors?
It depends on the state. On average, senior drivers pay between $186 and $191 per month for Geico auto insurance. But Geico is cheaper for senior drivers in some states.
#3 — Is car insurance more affordable if I’m retired?
The short answer is no. Auto insurance is roughly the same, but you can change your rates by driving less.
Frequently Asked Questions
Best and Cheapest Car Insurance for Seniors
There is no one-size-fits-all answer to this question, as the best and cheapest car insurance for seniors can vary depending on factors such as age, driving history, and location. Some car insurance companies that may offer affordable rates for seniors include GEICO, State Farm, and The Hartford. It’s important to compare quotes and coverage options to find the best fit for your needs and budget. Additionally, some insurers offer discounts to seniors, so be sure to ask about any available savings opportunities.
Which are the cheapest car insurance companies for seniors?
USAA offers the most affordable car insurance for seniors. However, it is only available to retired military veterans or their immediate family members. State Farm, Travelers, and American Family are the following companies that offer affordable car insurance for senior citizens.
At what age are you considered a senior for car insurance purposes?
Generally, you are considered a senior citizen or retired citizen at 65 years old. However, some businesses consider 55 years old as the age of a senior citizen.
Why do senior drivers pay less for car insurance?
Senior drivers pay less for car insurance because their age group has the least risk of filing car insurance claims. They have more experience on the road, drive fewer miles, and are less likely to drive recklessly. These factors make them less risky to insure, which results in lower car insurance rates.
Can senior citizens qualify for any special discounts on car insurance?
Yes, senior citizens may qualify for a variety of discounts on car insurance, such as safe driver discounts, low mileage discounts, and discounts for taking defensive driving courses. It’s important to check with your insurance provider to see what discounts you may be eligible for.
Are there any specific factors that affect the cost of car insurance for senior citizens?
Yes, several factors can affect the cost of car insurance for senior citizens, including their driving history, the type of car they drive, their location, and their credit score.
Is it important for senior citizens to have car insurance?
Yes, it’s important for all drivers, including senior citizens, to have car insurance to protect themselves and others in case of an accident. In many states, it’s also a legal requirement to have car insurance.
What types of car insurance coverage should senior citizens consider?
Senior citizens should consider a variety of car insurance coverage options, including liability coverage, collision coverage, and comprehensive coverage. Depending on their needs and budget, they may also want to consider additional coverage options such as roadside assistance or rental car coverage.
What should senior citizens look for when shopping for car insurance?
When shopping for car insurance, senior citizens should look for insurance providers that offer competitive rates, good customer service, and a variety of coverage options. It’s also important to compare quotes from multiple providers to find the best deal.
Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Scott W. Johnson
Licensed Insurance Agent
Scott W Johnson is an independent insurance agent in California. Principal Broker and founder of Marindependent Insurance Services, Scott brings over 25 years of experience to his clients. His Five President’s Council awards prove he uses all he learned at Avocet, Sprint Nextel, and Farmers Insurance to the benefit of his clients. Scott quickly grasped the unique insurance requirements of his...
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance-related. We update our site regularly, and all content is reviewed by car insurance experts.