The Best and Cheapest Auto Insurance Companies for Seniors
State Farm offers the best overall car insurance for seniors, though Geico has the cheapest car insurance for seniors.
Compare Cheap Car Insurance for Seniors
While senior drivers often pay more for car insurance as they age, you can find ways to save by comparing quotes or qualifying for defensive driver or mature driver discounts.
Cheapest car insurance for seniors
Geico has the cheapest car insurance for most seniors. A full coverage policy from Geico costs $1,463 per year, while minimum coverage from Geico costs $763 per year, on average.
Compare Cheap Car Insurance for Seniors
Monthly car insurance quotes for seniors
Senior drivers should also consider comparing rates from State Farm. Full coverage insurance from State Farm costs $30 more per month than Geico, and minimum coverage costs $26 more per month.
Rates will differ based on your driving history, where you live, the car you drive and the coverage options you choose. That’s why it's important to compare car insurance quotes from several insurance companies while you shop around.
What is the best car insurance for seniors?
State Farm is the best car insurance company for senior citizens. However, other companies can still be a good fit depending on your needs, location, driving history and current financial profile. No one company is best for everyone.
Best overall auto insurance for seniors: State Farm
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Editor rating
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Monthly rate
$152 ?
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J.D. Power
881 ? -
AM Best
A++ ?
Why it's great
State Farm has low rates, nationwide availability and dependable customer service.
State Farm offers excellent customer service along with a wide range of products, making it a great choice for seniors looking to bundle policies. It has a discount for those who also buy a home, condo, renters, farm, life or health insurance policy.
Cheapest car insurance for seniors: Geico
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Editor rating
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Monthly rate
$122 ?
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J.D. Power
871 ? -
AM Best
A++ ?
Why it's great
Geico has the lowest car insurance rates for most senior drivers.
Geico has the most affordable car insurance rates for seniors. The company also offers a guaranteed renewal program called the Prime Time contract for drivers over the age of 50 who meet certain criteria . It guarantees that your policy won't be canceled, even if you get multiple tickets.
Seniors should expect average customer service from Geico. The company earned average scores on both the J.D. Power claims satisfaction study and the NAIC complaint index. Geico does not underwrite its homeowners insurance policies and offers fewer kinds of insurance than its competitors, which means that seniors looking to bundle policies may want to consider other companies.
Best company for low-mileage drivers: Nationwide
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Editor rating
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J.D. Power
876 ?
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AM Best
A+ ?
Why it's great
Nationwide's pay-per-mile plan is the best for seniors who drive less than they did in the past.
Nationwide's SmartMiles program is best for seniors who don't drive often, as rates are based on how many miles you drive.
The SmartMiles program tracks your driving and monitors the miles you put on your car each month. When you drive less, you'll pay less for coverage. But if you drive more, you could end up with higher rates.
Best auto insurance with accident forgiveness: Progressive
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Editor rating
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J.D. Power
622 ?
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AM Best
A+ ?
Why it's great
Progressive offers accident forgiveness, which can keep your rates lower in the long run.
Progressive can be a great option for seniors who are worried about getting into an accident and seeing their rates go up as a result. It offers accident forgiveness coverage that you can add to your normal policy, giving you peace of mind.
You can also add coverage like gap insurance and not see a huge increase in your monthly rate.
Best car insurance for add-on perks: AARP auto insurance
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Editor rating
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J.D. Power
869 ?
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AM Best
A+ ?
Why it's great
If you're in an accident, AARP car insurance can help you find a repair shop and help transportation.
AARP auto insurance from The Hartford includes extras that can be especially useful for seniors. For example, if you're hurt in an accident, AARP car insurance includes RecoverCare. This program helps pay for things like transportation, dog walking, cleaning and lawn mowing while you recover. The company will also help you find a repair shop after an accident, and if you use one of its more than 1,600 approved shops, the repairs are guaranteed for as long as you have the vehicle.
However, the cost of AARP auto insurance can go up quickly in your 70s and 80s, so compare car insurance quotes to make sure you don’t overpay.
Best insurance for veterans and their families: USAA
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Editor rating
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J.D. Power
739 ?
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AM Best
A++ ?
Why it's great
USAA offers high-quality customer service, affordable coverage and a smooth claims experience.
If you're a military member, USAA auto insurance is a great choice. You'll get great coverage and even better customer service. Rates aren't the cheapest for seniors, but USAA offers discounts that can make it more affordable.
USAA SafePilot program could also save you up to 10% on your car insurance. The program uses your smartphone to track your driving, and if you're safe on the road, you could save up to 30% when you renew.
How much is auto insurance for seniors?
The average cost of car insurance for a 65-year-old is $1,646 per year for a minimum coverage policy and $2,057 per year for a full coverage policy. These rates will go up as you age, because insurance companies view older drivers as riskier to cover.
For example, 75-year-old drivers pay 13% more than 65-year-old drivers for full coverage car insurance, while 85-year-olds pay 44% more, on average.
Monthly car insurance rates for seniors by age
Age | Minimum coverage | Full coverage |
|---|---|---|
| 65 | $137 | $171 |
| 75 | $153 | $194 |
| 85 | $198 | $249 |
Cheapest car insurance for seniors with tickets or accidents
Drivers who have a ticket or who have been at fault in an accident usually pay higher rates for car insurance than other drivers. Seniors who are pulled over for speeding are likely to see increases of 9% to their car insurance rates. Accidents tend to raise the cost of coverage by much more — seniors could pay 44% more for coverage after an accident.
Compare Cheap Car Insurance for Seniors
Monthly full coverage quotes after an incident
Best car insurance discounts for seniors
Many car insurance companies offer discounts on senior car insurance that can help you save on your monthly rates. The discounts vary by company, but most offer at least one of them.
- Defensive driving discounts: Most insurance companies limit which courses qualify for these sorts of discounts. Ask your insurance company about defensive driving courses in your area and see how much you could save.
- Bundle discounts: Many insurance companies offer seniors discounts if you buy more than one policy with them. Consider moving your home insurance to the same company that you use for car insurance if they have a discount for it.
- Safety feature discount: Your insurance company may give you a discount on coverage if you buy a car that has enhanced safety features like lane departure warning, sideview cameras and impact prevention sensors.
- Accident-free discount: Your insurance company might lower your premium if you haven't had an accident in several years. If it doesn't, you might be able to get a discount and lower premium with a different company.
How to get cheap car insurance for seniors
The best way to get cheap car insurance for seniors is to compare quotes from several companies side by side. Explore the discounts each company offers, too, and consider how they respond to your concerns.
Remember, the cheapest coverage may not be the best. Try to choose a policy that meets your needs and a company that makes you feel comfortable.
Compare Cheap Car Insurance for Seniors
Frequently asked questions
Who has the cheapest auto insurance for seniors?
Geico has the cheapest car insurance for seniors, whether you just turned 65 or are in your 80s. A minimum coverage policy from Geico costs an average of $763 per year, while full coverage from Geico averages $1,463 per year.
What is the best car insurance company for senior citizens?
State Farm offers the best car insurance for most senior citizens. It combines affordable coverage with high-quality customer service.
Does State Farm offer a senior discount?
State Farm does not offer a senior discount for car insurance. However, it has many other discounts for senior drivers, including ones for defensive driving courses, safe driving, vehicle safety features and bundling policies.
Does auto insurance go down when you retire?
Auto insurance rates do not automatically go down when you retire. However, retirees who no longer commute can save money on their car insurance by taking advantage of low-mileage discounts or switching to pay-per-mile insurance.
Does car insurance go up after age 80?
Car insurance rates begin to go up starting at age 55. Rates increase by 13% between the ages of 65 and 75, and 85-year-old drivers pay 28% more than 75-year-old drivers.
Who has the best auto insurance for seniors?
If you want top-tier customer service that's still affordable, we suggest State Farm. But if you prioritize the lowest rates, we recommend Geico.
Methodology
This analysis used insurance quotes for hundreds of ZIP codes across Florida. We compared rates for three drivers, ages 65, 75 and 85. We also checked how having a clean driving record, one speeding ticket and one at-fault accident would affect a person's rates.
Minimum coverage rates are based on the required limits in Florida. The full coverage policy used for this survey included liability, comprehensive and collision insurance. Rates for drivers with prior incidents are for a full coverage policy. Limits and deductibles are listed below.
Full coverage car insurance limits
- Bodily injury liability: $50,000 per person/$100,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured/underinsured motorist bodily injury: $50,000 per person/$100,000 per accident
- Personal injury protection: $10,000
- Comprehensive and collision: $500 deductible
About the Author
Senior Writer
Lindsay Bishop is a Senior Writer at ValuePenguin, where she educates readers about home, auto, renters, flood and motorcycle insurance.
Lindsay began her career in the insurance and financial industry in 2010. She was a licensed auto, home, life and health insurance agent and held Series 6 and 63 financial licenses.
After a hiatus from the financial sector, Lindsay returned to the industry as a content writer for ValuePenguin in 2021. She enjoys having the opportunity to help readers make smart decisions about their insurance so they can be prepared for anything life throws their way.
When Lindsay isn't writing about insurance, you can find her spending time with family, enjoying the outdoors on Sunday long runs or riding her Peloton.
How insurance helped Lindsay
As a homeowner for 15 years located in South Carolina, Lindsay has plenty of experience navigating the coastal insurance market and managing the claims process. That includes successfully negotiating a full roof replacement claim.
Expertise
- Home insurance
- Car insurance
- Flood insurance
- Renters insurance
- Motorcycle insurance
Referenced by
- CNBC
- Yahoo Finance
- Miami Herald
Education
- BS/BA Economics, University of Nevada Las Vegas
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
