Best car insurance for seniors of 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 5:44 p.m. UTC Dec. 21, 2023
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Nationwide, USAA and Travelers have the best car insurance for seniors in 2024. Each receives 5 stars in our best car insurance for seniors rating.
Our team of insurance experts analyzed data from top car insurance companies in the nation and identified the best car insurance for seniors based on rates, coverage options, collision repair scores and customer complaints.
Best senior car insurance companies of 2024
- Nationwide: Best car insurance for seniors
- USAA: Best car insurance for military community
- Travelers: Great car insurance for new car owners
- Auto-Owners: Great car insurance for low customer complaints
- Erie: Best car insurance for claims
- Geico: Best car insurance for bad credit
- Progressive: Best car insurance for DUI
Why trust our insurance experts
Our team of insurance experts evaluates hundreds of insurance products and analyzes thousands of data points to help you find the best product for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 260 companies analyzed.
- 347 rates reviewed.
- 5 levels of fact-checking.
Compare costs for the best car insurance companies for seniors
Best car insurance for seniors
Nationwide
USAA
Travelers
Auto-Owners
Erie
Geico
Progressive
Compare the best car insurance companies for seniors
Average annual car insurance premium reflects rates for male and female drivers between ages 60 and 80. Complaint scores are based on the most recent data from the National Association of Insurance Commissioners (NAIC). Collision repair grades have been gathered from the CRASH Network 2023 insurer report card.
Methodology
Our insurance experts evaluated top car insurance companies to determine which offer the best car insurance for seniors based on average rates, coverage features and consumer complaints.
Each car insurance company was eligible for up to 100 points, based on its performance in the following key categories:
Cost: 50 points. We analyzed rates from Quadrant Information Services for good drivers at ages 65, 70, 75 and 80 for a policy with 100/300/100 in liability coverage, uninsured motorist coverage and comprehensive and collision coverage.
Complaints: 20 points. We collected complaint data from the National Association of Insurance Commissioners (NAIC), which shows the volume of car insurance consumer complaints against each company. When a consumer lodges a complaint to their state’s department of insurance — often about an insurance company’s claims process, delays, denials or settlements — these complaints are logged and tracked by the NAIC.
Car insurance coverage options and features: 20 points. Car insurance policy features can help make coverage more affordable both before and after an accident or covered incident.
We evaluated car insurance policies offered by each insurer and awarded points to insurers that offered these valuable benefits:
- Accident forgiveness: 5 points.
- New car replacement: 5 points.
- Diminishing deductible: 5 points.
- Usage-based car insurance: 5 points.
Collision repair score: 10 points. Every year the CRASH Network surveys collision repair professionals across the nation, evaluating insurers on the quality of their repairs and customer service interactions for motorists. Grades range from A+ to F, and insurers with better grades score higher for this metric.
Average cost of car insurance for seniors
The average cost of car insurance for seniors between 65 and 80 is $2,150 a year, or $179 a month. However, senior car insurance rates vary by age, with drivers in their 60s paying less for coverage than those in their 70s and 80s.
How much you pay for coverage will depend on several factors, including:
- Age.
- Gender (in most states).
- Location.
- Make and model vehicles.
- Driving record.
- Credit score (in most states).
- Type and amount of coverage desired.
- How many miles you drive.
- Applicable discounts.
Who has the cheapest car insurance for seniors?
Nationwide has the cheapest car insurance for seniors between 60 and 80 years old. Its average rate for drivers in this demographic is $1,402, nearly 35% less than the national average of $2,150.
Other insurers with below-average rates for senior citizens include USAA, Travelers, Auto-Owners, Erie, Geico, Progressive and State Farm.
Senior car insurance rates by insurer
How to find the cheapest car insurance for seniors
If you’re 60 or older and are looking for car insurance, here are some tips for finding the best coverage for the lowest price.
Shop around for a better policy
No matter your age, gender, driving record or location, it’s a good idea to shop around for better car insurance once in a while. Doing so can help you find the cheapest car insurance for your specific coverage needs.
Some drivers shop each time their policy is up for renewal while others wait every few years so they can take advantage of their provider’s loyalty discount.
Either way, experts agree: It never hurts to see how much you can save. It’s best to get and compare at least three car insurance quotes. Just make sure you’re looking at policies with the same level of coverage when comparing prices.
Our rating of the best car insurance for seniors is a good place to start. If you’re looking for the cheapest senior auto insurance, consider options like USAA, Auto-Owners, Geico and Westfield, all of which offer senior car insurance policies that average less than $2,000 a year.
“Multiple companies tie in to the senior market,” said Peter Schumacher, an independent insurance agent with many clients in the senior community. “They effectively tie in with senior member groups, such as AARP or AMAC.”
To get a fuller picture of the options available, you can use an online auto insurance marketplace. Provide some basic info, click a button and review all the insurance offers available.
Alternatively, you can work with an independent car insurance agent, who can generate multiple rates. The benefit of a good agent, according to Schumacher, is that they’ll “take the time to get to know a client to unearth additional savings programs.”
Take a defensive driving course
Showing your insurance provider that you take safe driving seriously, even if you’ve been driving for decades, could result in a discount. Ask your current provider if taking a defensive driving course would lower your rate.
In some states, the government mandates that insurers offer this discount to senior drivers who’ve completed an approved course. The discount is usually between 5% and 10%.
Ask about other discounts
Many auto insurers offer discounts — to drivers of all ages — for bundling auto coverage with homeowners insurance or renters insurance, switching to paperless billing and paying the full premium in advance, rather than monthly. Insurance companies may also offer loyalty, safe driving and vehicle safety feature discounts.
Learn more: Best auto and home insurance bundles
Consider usage-based insurance
Usage-based insurance is a type of coverage that allows insurance to track driving habits, such as your speed, acceleration, braking and even the time of day and how frequently you drive. Oftentimes, insurers reward good driving behavior with lower rates.
Seniors with a good driving record and practice safe driving habits may find this type of care insurance helps them lower their monthly rates. The same is true for seniors who spend less time on the roads.
Adjust your policy
There are a few policy adjustments that can lead to lower car insurance rates:
- Increasing your deductible, or the amount an insurer will subtract from a claims check for certain claims, such as collision or comprehensive claims. However, a higher deductible means you’ll be on the hook for higher out-of-pocket expenses after a claim.
- Decreasing your limits, or the maximum amount your insurer will pay out after a claim.
- Dropping unnecessary coverages, such as gap insurance if you’ve already paid off your vehicle or roadside assistance if you no longer need it or found coverage elsewhere. Just don’t drop so much coverage that you’re underinsured in the event of a claim.
Be car conscious
The vehicle you drive can also have an impact on your car insurance premiums. Sporty vehicles like convertibles and coupes fetch higher insurance rates while reliable vehicles equipped with advanced safety features are much more affordable to insure.
Why auto insurance is more expensive for senior drivers
Most car insurance companies use several factors to determine your rate, including your age or how many years of driving experience you may have. Traditionally, seniors and teens have higher rates, because past statistics show that they are more likely to get in an accident. From an insurer’s standpoint, that means they’re more likely to file a claim.
Why are seniors more likely to get in accidents? The reasons can vary, but senior drivers are more likely to suffer from declining vision, memory impairments, mobility issues and other conditions like arthritis and diabetes — all of which can impact driving ability.
In addition, senior drivers are more likely to be on medication with side effects that can make it more difficult to drive safely. Senior drivers may also have slower reaction times and diminished hand-eye coordination.
This reality for senior drivers doesn’t just lead to higher insurance premiums. It also leads to higher fatal crashes per mile for drivers over 70, according to the Insurance Institute for Highway Safety (IIHS).
But it’s not all gloom and doom: The IIHS reports that fatal collisions for seniors are on a decline. Despite there being more senior drivers on the road today than there were in the late ’90s, there are 22% fewer accidents resulting in fatalities for seniors.
That could be due to a number of features, including improvements in vehicle safety technology. But the IIHS points out that seniors are reportedly driving fewer miles, especially at night, which has also contributed to this decline in fatalities.
Based on our analysis of insurance companies, the following insurers have the best care insurance for seniors ages 65 to 80:
- Nationwide
- USAA
- Travelers
Each of these insurers receive 5.0 stars in our best car insurance for seniors rating, which takes into account an insurer’s rates, coverage options and features, customer complaints and collision repair scores.
Before you choose a car insurance company, always get and compare car insurance quotes from at least three different insurers.
Out of the companies we analyzed, Nationwide has the cheapest car insurance for mature senior drivers, costing $1,402 per year. USAA and Travelers are the next cheapest car insurance companies for seniors, respectively.
Many of the best car insurance companies offer discounts, including some specifically for seniors. For example, in many states auto insurance companies are required to offer seniors a discount for successfully completing a defensive driving course.
Seniors may qualify for other car insurance discounts for actions like bundling home and auto insurance, enrolling in paperless billing, paying the full premium in advance and making it through a policy period without any claims.
Usage-based insurance programs can lead to savings for seniors. If you’re a senior driver and don’t drive as frequently as you used to, consider a car insurance company that offers usage-based insurance (UBI) programs.
UBI programs track how safely or frequently you drive, and if you keep your mileage low you may see discounts. For example, with Nationwide’s SmartMiles program, your rate is based on a pay-per-mile basis. If your mileage is low, SmartMiles can lead to a flexible monthly rate.
Bundling your home and auto, or auto and life insurance, paperless billing, and affiliation groups can also all lead to car insurance discounts for seniors.
Yes, based on our analysis, car insurance rates begin to increase in your mid-60s and continue to do so after age 80.
Seniors looking for the cheapest car insurance should consider shopping around, getting multiple quotes and asking about discounts for defensive driving courses, bundling policies and opting into usage-based insurance.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
