Last Updated: July 2020
Finding the best rates on car insurance coverage as a senior may take running rates with several providers before finding the best option. To get started, you can use our rate comparison tool on the right side of your screen. It will allow you to compare rates with all the top companies in the car insurance marketplace. Your rates will be shown to you on the following screen.
Shopping for car insurance as a senior requires comparing rates with several companies to ensure you are getting the best coverage at the lowest price.
However, we prefer to take the time to summarize everything you need to know to help you find your coverage much more efficiently.
We have reviewed most car insurance providers.
Today, we are going to break down and summarize quickly what you need to know about purchasing car insurance as a senior and point you in the correct direction as to which companies you should be considering for coverage.
Below, you will see a quick outline of what we plan on covering in today’s post. You can click on any of the links you see below to skip to any specific section of this post that you desire or need to learn more about.
- Best Car Insurance Company for Seniors
- Other Car Insurance Companies to Consider
- Your Vehicle Insured Will Impact Elderly Car Insurance Rates
- Do Car Insurance Rates Increase at Age 65?
- Make Sure to Check for Senior Discounts
- Consider Your Coverages
Shopping for car insurance as a senior is probably the last thing you want to spend your time doing. It’s a hassle and can be frustrating. Let’s Get to The Root of It! Here are the key considerations to keep in mind.
As a senior shopping for car insurance, you need to be shopping companies that not only provide the best discounts but also offer specific discounts tailor-made for senior drivers that are retired or working only part-time.
As a senior, you can also opt to consider low mileage companies for more savings and take additional safety courses in order to lower your premiums further.
Don’t worry, we will cover more on this later in this post.
Throughout this quick post, you will learn who offers the cheapest car insurance for seniors. In addition, we will layout other techniques you can implement to help you begin taking advantage of discounts and savings.
At the end of the day, our goal is to get you the cheapest possible car insurance without sacrificing customer service or overall coverage amounts.
Here’s what you should know.
Best Car Insurance Companies for Seniors
Anytime you are shopping for car insurance as a senior, you have several things you need to be looking at in order to find the best rates for your coverage.
As a senior or “mature driver,” it’s likely that you are already going to see substantially lower rates compared to other demographics.
However, you can also investigate other avenues that can help you save money on your car insurance.
For now, let’s cover the best companies overall that seniors can lean on for affordable car insurance rates.
Ranked #1- AARP Program
The AARP program is technically underwritten, and policies are provided through The Hartford.
An A+ rated company.
AARP, in general, is known for specializing in coverages for seniors for not only car insurance coverage but also life insurance coverage.
These policies are guaranteed to be renewable for seniors if you maintain a valid driver’s license and, of course, pay your premiums every month.
In addition to offering some of the lowest rates right out of the gate, you can also be afforded additional discounts for taking defensive driving courses.
This is good for up to 3% off your rates.
Outside of having the best rates for seniors, The Hartford is known for even more desirable traits that many consumers look for when shopping for car insurance.
For example, not only is The Hartford a well-known and reputable brand for car insurance coverage, but they are also one of the most financially strong companies you can choose with an excellent track record for providing top-notch customer service and are well known for handling claims quickly.
Purchases like car insurance typically fall into the bottom tier of the purchases and bills we prefer to pay.
However, getting the protection and money needed when an accident does occur can be a significant perk that needs to be considered when purchasing coverage.
The Hartford will also allow seniors to enjoy additional savings if you can continue to be accident and claim-free.
In a nutshell, the longer you remain a safe “mature driver”, the lower your rates will ultimately be.
You can also look at the AARP Program offered through the Hartford if you need any of the following special coverages:
- Classic Car Coverage
- Golf Cart Coverage
- Boat Insurance
Other Car Insurance Companies to Consider
Let’s assume that you have already investigated the Hartford and the AARP Program and have determined that they are not the best fit for you.
If that’s the case, here’s a quick overview of other companies you should be considering that also offer excellent car insurance coverage at excellent rates for senior drivers.
- Allstate Insurance Company
- Metro mile Insurance
- State Farm
Here’s a quick dive into each of these options and an explanation as to why they may be your next best option for coverage.
Allstate- Allstate has always been one of the best options to consider for auto insurance.
What makes it even more desirable for seniors is the fact that they offer a “senior discount” that can be applied for seniors that are either retired or only working part-time and over the age of 55.
Bundling this discount with other money-saving options such as clean driving histories and defensive driving courses could very quickly make Allstate one of your top competitors for the best price on car insurance for seniors.
You can view our full review of Allstate here
Metro Mile- Metro mile is one of the newer car insurance providers in the industry that currently offers great breaks on price when you drive a low number of annual miles per year.
If you fall into this group and are a bit of a “homebody”, you should be considering Metro mile to see if they can compete with AARP and the other popular options for the best price possible.
USAA- USAA only makes sense for individuals with a military background or if you have an “in” with the company from family members that have been USAA members.
Currently, if you do fall into this group, you can enjoy some of the top rates for your coverage with an A+ and top-rated company.
Additionally, USAA has always been known for offering some of the most exceptional service and claims-paying satisfactory ratings in the business.
If this is important to you as the consumer, you should be running a rate with USAA as well before ultimately making any decisions for your coverage.
State Farm- It’s tough to find anything negative to say about State Farm.
They are the largest insurance provider in the country for home and auto and are backed by the most reliable financial ratings you can ask for.
In addition to competitive rates for seniors, State Farm also offers the ability to save additional money on coverage through programs such as the ‘Drive Safe and Save”.
This program applies to individuals who use telematics inside of their vehicles to track driving behaviors.
For safe drivers, this could be an easy option for affordable coverage as a senior.
In our opinion, your overall best bet always is going to be comparing rates with an independent agent near you to find the best rates.
Independent agents can shop multiple companies for you and tailor a policy to fit your needs.
Sure, they won’t be able to offer some companies that require a captive agent, but in general, comparing quotes on your own in addition to using an expert is going to land you the best chance at the best rates.
Your Vehicle Insured Will Impact Elderly Car Insurance Rates
Now that we have some of the company considerations out of the way, let’s start covering some of the other basics, you need to be aware of when shopping for car insurance as a senior.
First and foremost, you must realize that your vehicles make a big difference.
I’m also aware that retirement time for a lot of seniors can entail upgrading vehicles or finally providing yourself with the car you have wanted for years.
Good for you, and you deserve it.
However, for you gentlemen out there finally upgrading to the Big Horn Ram 2500 with all the bells and whistles, you may feel the impact a bit more when purchasing auto insurance coverage.
It’s just how it works.
Clearly, it’s going to cost the insurance company more at this point to replace your new truck if something happens due to the value being higher.
For all the ladies who just got a brand new SUV, the same will apply.
The more robust the vehicle and the higher the sticker price at purchase, the more your car insurance is ultimately going to cost you.
For all of you who are buying a new decked out Mustang with 400 horsepower to the rear wheels in your retirement, your coverage prices will again be even higher.
Keep this in mind.
Don’t get me wrong, either.
Purchase the vehicle you want and the vehicle you have been waiting for.
You have earned it.
Just don’t be surprised when your rates go up just a bit for the cost associated with protecting that new shiny truck in the driveway.
The vehicle insured always matters when purchasing car insurance.
Plain and simple.
Do Car Insurance Rates Increase at Age 65?
This question frequently arises when seniors are shopping for the most affordable rates possible.
The answer is no.
Car insurance does not always increase at age 65.
Factors will be considered when you reach age 65 that can impact your overall rates.
These may include factors such as your specific state laws and your personal driving history.
Not to mention all the factors that always apply to determine car insurance rates such as marital status, the vehicle being insured, and even your own personal credit rating.
This is good news.
In most situations, you don’t have to expect a car insurance price hike just for turning 65.
If you do, it’s also another strong indicator that it’s time to start shopping rates and locating the best coverage.
Websites such as this make it easy for you to do by using the rate tool to your right.
Your rates will display on the following screen with all the biggest and most well-known brands in the marketplace.
Make Sure to Check for Senior Discounts
No matter who you are, this is a recommendation we always make at Rootfin.
Discounts are a considerable part of the puzzle when shopping for the best car insurance.
Discounts can make for a substantial difference in your rates if you play your cards right.
Be sure to ask your agent what discounts you are eligible for right out of the gates.
Don’t stop here.
Sometimes, just because you’re not eligible at first glance does not mean you can’t do more to achieve the discount before your next billing cycle.
Opt to use telematics devices to track driving behaviors when it’s offered.
Take the defensive driving courses.
If you drive low miles per year, make sure you mention this from the start.
At the end of the day, finding the right company is only step 1 in finding the best car insurance as a senior, but to land the best deal possible, you will need to do your due diligence and get as many discounts as possible.
Trust me, it will make a big difference in your overall premiums due each month.
Consider Your Coverages
In addition to discounts, coverages should be considered when purchasing car insurance.
Especially if you need to save additional money or If you are working with a limited budget which sadly, in our economy, is the relatively frequent situation among seniors.
If you are a safe driver, be sure to inquire about the downgrading coverage.
Car insurance doesn’t need to be overly complicated, but it sure can be at times.
Comparing rates with multiple providers is going to ultimately be your best chance at finding the coverage you desire at a price you can live with.
Nonetheless, the companies listed out for you above are undoubtedly great options to consider.
Best of luck in your search.