Best Auto Insurance for Seniors in 2023

Car insurance needs and driving habits often change as drivers grow older. For example, transitioning to retirement means fewer miles driven, especially if you used to commute in heavy traffic daily. 

These common changes affect coverage needs, and senior drivers should adjust their insurance accordingly to maintain cheap auto insurance rates. Since older drivers may see slight increases in their rates, shopping around for discount car insurance for seniors is important. 

Make sure you get the most out of your auto insurance policy and receive the best auto insurance rates possible for seniors. Read on to learn more about the best auto insurance for seniors. 

Best Auto Insurance Companies for Seniors 

Senior drivers often face increased rates due to their higher risk of being in a crash. Declining vision, decreased reaction time, medication side effects, and more can all impact a senior driver’s risk of crashing and filing a claim. To offset that risk, most car insurance companies will increase insurance rates for drivers as they age. 

However, picking one of the best auto insurance companies with cheaper rates for senior drivers can help keep your car insurance rates low. Scroll down to see how average auto insurance rates for senior drivers vary among insurance companies. 

What is the cheapest car insurance for seniors? Geico auto insurance is one of the top choices for car insurance for seniors over 60, with the cheapest average rates for senior drivers. State Farm, Travelers, and Progressive also offer reasonable average rates for seniors.

We recommend getting quotes from a few different insurance companies on this list, as rates can vary based on your personalized driving profile and coverage needs. However, these companies are a good starting point when searching for cheap senior car insurance. 

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How to Save on Senior Auto Insurance Rates

While companies may increase rates as drivers age, you can continue saving on car insurance for senior citizens by following our tips below. We’ve outlined the best auto insurance discounts and other ways to save on car insurance for senior drivers. 

Bundle Your Insurance Policies 

One way to save money is by bundling insurance policies. Buying more than just car insurance from one company can save you money. For example, if your car insurance company offers more than one type of insurance, you can bundle your auto policy with home, renters, or condo insurance. Depending on where you shop, you may also be able to bundle auto insurance with motorcycle, RV, boat, life, or health insurance. 

Just consider the cost of the other types of insurance from your auto insurance company. Your insurance company may have cheap senior citizen auto insurance but expensive home insurance, making it more cost-effective to purchase home insurance elsewhere even after the bundling discount. 

Ask About All Available Discounts

Providers understand that many seniors are experienced drivers, who, depending on when they earned their driver’s license, may have been operating vehicles for decades.

Most senior drivers have extensive experience driving in a variety of settings and weather conditions, and as a result, are typically considered competent drivers.

As a result, insurance companies may offer discounts to attract business from drivers that are deemed safe and reliable.

Some companies may also offer discounts to loyal customers who are looking to renew their policy and have been with them for an extended period of time.

Another way for retirees to get a discount on their auto insurance is to join an organization like the American Association of Retired Persons, who have membership programs offering car insurance discounts.

In addition, some auto insurance companies also offer discounts to retired military veterans and personnel, as a sign of appreciation for their service and commitment.

Choose Cheaper Cars 

Some cars are significantly cheaper to insure. The cheapest cars to insure will have low repair costs and affordable replacement parts. Vehicles with great safety features that prevent crashes and protect passengers in crashes also come with lower auto insurance rates.

Whether you can afford to upgrade your current car to make it safer or buy a new vehicle altogether, insurance companies are more likely to offer lower rates if your car is equipped with modern safety features.

Some of these include airbags, crumple zones, safety cages, anti-lock braking systems, and parking sensors, among others.

Research online or talk to an automotive dealer or insurance provider to see which vehicles are best suited for senior drivers, and will result in lower insurance rates for you.

Improve Your Driving Resume

Although many insurance providers view seniors as reliable and safe drivers, the premiums elderly people pay to drive often increase as they grow older, particularly after the age of 65.

As people age their reflexes and overall health generally deteriorate, making them a more likely risk to be involved in a car accident.

 Any documented health issues, particularly those that affect driving like poor eyesight, could also have an impact on the kind of insurance rates offered.

In order to demonstrate to insurance providers that you continue to be a safe and competent driver, you may want to consider enrolling in driving lessons to improve your chances of receiving affordable car insurance.

Organizations like Safety Center Incorporated offer driving lessons that are specifically oriented toward drivers over the age of 55.

Courses like this help educate seniors about new safety issues and laws that some elderly people might not be familiar with, and typically offer insights on how aging and various kinds of medication might affect someone’s driving.

Seniors who have completed these lessons are more likely to receive lower car insurance rates as a result.

Some insurance companies offer seniors a defensive driving auto insurance discount. A pre-approved defensive driving course may be offered by the insurance company or through a third party, such as AAA. 

Defensive driving classes must be successfully completed with a passing grade in order to receive the discount. The courses teach valuable information on safe driving techniques and habits, such as how medications may affect a senior’s driving ability. 

Consider Pay-Per-Mile Insurance 

If you find yourself driving less than 13,000 miles a year, it can be worth looking into pay-per-mile or usage-based auto insurance. With usage-based insurance, you pay a daily set rate of a few dollars per day and then a few cents per mile driven. Pay-per-mile insurance could offer significant savings if you only make a few trips a week. 

If you don’t want to switch to usage-based car insurance, you may still get a discount for driving less. Contact your insurance company and tell them about your new reduced mileage to see if they offer a low-mileage discount. After all, the less you are on the road, the less likely it is that you will get into a crash and file a claim. 

Review Your Auto Insurance Policy 

Review the policy you’re currently paying to determine if your circumstances have changed.

The amount and type of coverage you need may be different now from when you took out the policy originally.

In other words, your current car insurance may no longer suit your driving habits.

Some of the things to consider when you review your current policy include:

• Are you driving your car as often?
• When are you typically driving the car?
• Do you drive in high-traffic areas more or less these days?
• Are you driving less often at night or traveling shorter distances?
• Have there been any changes in terms of who is driving your car?

The answers to these questions could determine the kind of insurance policy you need as a senior driver.

Due to the fact many seniors are reliant upon a fixed or diminished income, you will want to ensure you are protected from any costly damages that may result from a car accident.

While most states require you to have liability insurance to drive a car, you may want to explore additional coverage if you haven’t carried any for your vehicle in the past.

You can drop non-essential insurance coverages to reduce your insurance rates. For example, if you have rental car insurance but no longer drive much, you probably won’t need a rental car if your car needs to be repaired. You could also drop coverages like roadside assistance if your car is in good condition and you aren’t traveling long distances from home. 

If your vehicle is older, you may also want to drop collision and comprehensive coverage if the annual cost is worth about 10% of your car’s total value. Otherwise, you may end up paying more for collision and comprehensive coverages than you would receive in an insurance claim payout. 

Make sure you review your current car insurance and any new policy you’re considering carefully to make sure it provides coverage at a price you can afford.

Install Anti-Theft Devices 

One way to reduce your car insurance costs for comprehensive insurance is to install anti-theft devices. Most insurance companies offer discounts for anti-theft devices, as it helps lessen the likelihood of a car being broken into or stolen. 

Some common anti-theft devices would be GPS trackers, vehicle identification number (VIN) etching, vehicle recovery devices, and more. 

Keep in mind that the anti-theft device discount usually only applies to your comprehensive insurance coverage. Because comprehensive insurance covers car theft and vandalism, anti-theft devices only reduce your risk of filing a comprehensive claim. If you don’t carry comprehensive coverage, then anti-theft devices may not reduce your monthly insurance rates.

Raise Your Auto Insurance Deductible 

Your car insurance deductible is the amount you agree to pay out-of-pocket for repairs on a covered claim. According to the Insurance Information Institute (III), raising your insurance deductible on some or all of your insurance coverages can reduce your auto insurance rates. This is because you assume more financial responsibility after a crash by agreeing to pay the higher deductible amount. 

However, you should only raise your deductible if you can afford to pay the higher out-of-pocket amount. Otherwise, you may be unable to afford to get your car fixed after a covered claim. 

For example, if you raise your deductible to $2,000 and your car needs $5,000 worth of repairs, your car insurance company will only give you $3,000. Unless you have $2,000 saved up, you won’t be able to get your car repaired until you can pay your deductible. 

Shop Around for Auto Insurance Quotes for Seniors

We’ve saved our best tip for last — the best way to save on car insurance for senior drivers is by shopping around for quotes from different auto insurance companies.

Even if you’ve been with the same company for some time, and are happy with the service they have provided, it doesn’t hurt to look around and see if more affordable and suitable policies are available.

Some insurance providers will match or beat what another competitor is offering, so having that information could be extremely useful if you decide to renew or change your policy.

If you’re living on a fixed income, researching what each insurance provider is offering could save you some serious money and will be well worth your time.

 Because your insurance rates and needs change over time, getting quotes once or twice a year will ensure you are still getting the cheapest rates based on your individual needs. You can use an insurance broker, a free online quote comparison tool, or apply for quotes directly from an insurance company’s website to get multiple insurance quotes. 

The Final Word on the Best Auto Insurance For Seniors 

Finding the best car insurance for senior drivers requires shopping around and comparing rates, as well as considering a senior driver’s new coverage needs and driving habits. Senior drivers can take advantage of senior car insurance discounts like defensive driving discounts, low-mileage discounts, insurance bundling, and more to save on auto insurance. 

If you are a senior driver looking to reduce your insurance rates, start by comparing online quotes for auto insurance for seniors. Use our free quote comparison tool below to find the best auto insurance for seniors from companies in your area.  

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