Insurance » Auto Insurance » Best Car Insurance For Seniors of 2021
Advertiser Disclosure

This website is an independent, advertising-supported comparison service. The product offers that appear on this site are from companies from which this website receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This website does not include all card companies or all card offers available in the marketplace. This website may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval.

This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impacts any of the editorial content on The Smart Investor. While we work hard to provide accurate and up to date information that we think you will find relevant, The Smart Investor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

Learn more about how we review products and read our advertiser disclosure for how we make money. All products are presented without warranty.

Best Car Insurance For Seniors of 2021

Your car insurance needs change as you mature, as well as the rates. Here are our recommended insurance providers to watch in 2021

We may receive compensation from companies that appear on this page. This may impact how and where products appear on a page (including, for example, the order in which they appear). It doesn’t affect our editors’ opinions. our opinions are our own.

For many drivers, once they reach the age of 25 their car insurance rates actually go down a little. However, these same rates eventually start climbing back up once you enter the age of 60 or 70.

You may think you are stuck with these rates, but this is where you would be wrong. As a senior you actually have a few advantages that you didn’t have in your younger years.

Now, you can enjoy retirement and get a good value for the money you spend on your car insurance. To ensure you are getting the best value, you need to make sure that your policy fits your lifestyle choice and offers the right coverage for your vehicle.

To help you do this you need to make sure you are taking advantage of any perks and discounts that you qualify for.

Doing this isn’t always easy, but that is why we are here. We have compiled a list of the best car insurance for seniors.

Here are The Smart Investor Select’s picks for the top car insurance companies for seniors:

Allstate

Allstate logo
Get My Offer
  • Overview
  • Coverage
  • Pros & Cons

Allstate's customer convenience drive, discounts, and a wide range of coverages are probably responsible for its popularity among Americans. Allstate is also famous for its personalized support, and it even offers a customer satisfaction guarantee in terms of its claims process.

You should note, however, that the rates offered by Allstate are somewhat more expensive than the provisions of other top insurers. As long as you meet the requirements to partake of the discounts offered by the company, you will enjoy a more balanced rate with Allstate.If you're a driver with a clean record, Allstate will treat you with fairly decent rates

  • Collision coverage
  • Comprehensive coverage
  • Liability coverage
  • Medical payments coverage
  • Uninsured and underinsured motorist coverage
  • Sound system insurance
  • Roadside coverage
  • Personal Injury Protection
  • Personal umbrella policy
  • Rental reimbursement coverage
  • Rideshare insurance
  • Encourages safe driving
  • Personalized customer support
  • Wide array of coverages
  • Lots of discounts
  • Claims satisfaction guarantee
  • Above-average costs
  • Average customer service
  • Some standard discounts are missing
Allstate logo
Get My Offer

Progressive

Progressive_logo
Get My Offer
  • Overview
  • Coverage
  • Pros & Cons

Low prices are one of the things that made Progressive so popular among Americans that the company even encourages you to compare its rates with other insurance providers right on its website with a price comparison tool.

You will find the company provides standard car coverage options other insurers offer (like liability, personal injury protection, medical payments, etc.) and perks (like accident forgiveness, deductible reduction, etc.) when Progressive covers you. Of course, Progressive offers other insurance products like home, life, and renters through third party companies.   

  • Liability coverage
  • Comprehensive coverage
  • Collision coverage
  • Personal injury protection
  • Uninsured/underinsured motorist coverage
  • Medical payments coverage
  • Encourages safe driving
  • Accident forgiveness
  • Competitive rates and discounts
  • Name your Price
  • No safety equipment discount
  • Below average customer service score
Progressive_logo
Get My Offer

21st Century

21st-century logo
Get My Offer
  • Overview
  • Coverage
  • Pros & Cons

21st Century Insurance is well-known to have strong financial strength and a good reputation for offering reliable and effective insurance policies With 21st Century, customers are in control; you can edit, manage, and update your policy easily and quickly.

They offer different discounts, ensuring both the old and young save without having to sacrifice the quality of the coverage. Getting a quote and filing a claim is very easy, with the claims department always available to put you through. Though the company has some drawbacks such as failing to cover all your insurance needs, lack of in-person attention, etc. the company has more benefits to suits customer needs.

  • Bodily injury liability: This coverage helps you pay lost income or wages, medical bills, suffering and pain, and funeral expenses, where necessary
  • Property damage liability: 21st Century steps in to cover repair expenses on a person’s property or vehicle if you are responsible for the accident.
  • Useful for Newbies and Inexperienced Drivers
  • Excellent Financial Strength
  • Low Rates
  • Access to Many Resources
  • The company may fail to cover all your insurance needs
  • Higher charges for down payment compared to competitors
  • Render most of their services online
  • Some slick features are absent in the website and mobile app
21st-century logo
Get My Offer

American Family

American-Family-Insurance-01
Get My Offer
  • Overview
  • Coverage
  • Pros & Cons

With its many discounts for teens and students, this car insurer might serve as an efficient coverage option for customers who have children they want to include in their auto insurance policies.

American Family (AmFam) will give you reasonable rates regardless of your driving history – this is one of the reasons why the coverage provider is attractive, especially to high-risk drivers. But when it comes to online service or customer support, AmFam might not be so appealing. 

 

  • Property Damage Liability Coverage
  • Bodily Injury Liability Coverage
  • Medical Expense Coverage
  • “Personal Injury Protection
  • Comprehensive
  • Collision
  • A wide array of discounts
  • Innovation
  • Supports safe driving
  • Covers high-risk drivers
  • Not available nationwide
  • Website is not so user-friendly
  • Time-consuming claims and quote application
American-Family-Insurance-01
Get My Offer

Getting Car Insurance for Seniors

Car insurance is an important cost for any driver. For many of us, car insurance costs increase every year, depending on our driving history, whether we’ve been involved in any accidents or had any driving offenses.

However, older drivers tend to pay more, so here we’ll delve into why this happens and how to find the best car insurance for seniors.

What is Car Insurance For Seniors?

As a group, senior drivers tend to be more accident prone compared to their younger counterparts. Whether this is due to age related changes in vision or hearing, health conditions, medications or simply slower reflexes, they are more likely to be involved in an accident.

Additionally, regardless of how serious the accident is, older drivers are likely to suffer more fatalities or graver injuries. These issues increase claim costs for insurers, so these costs are passed on to the driver.

Fortunately, there are some insurers who appreciate this difficulty and specialize in offering the best car insurance for seniors. This is like the companies that specialize in young drivers. These insurers use different criteria to create insurance packages for older drivers.

This means that if you have a good driving history, you can still get a great deal on your coverage.

Age is one of the most significant factors in the cost of auto insurance. As drivers gain experience, insurance rates typically drop, as older drivers are less likely to be involved in an accident or commit a driving violation.

This chart with data from The Zebra shows the average car insurance rates by age group. It highlights that 16 to 19 year olds can expect to pay more than double their 20 to 29 counterparts. It also shows that rates decrease until the 60+ age groups. This is typically because older drivers are more likely to have slower reactions that could lead to an accident and may suffer more serious injuries in a mild to serious accident that is reflected in the insurance rates.

Average 6 Month Car Insurance Rates by Age Group

How to Get Car Insurance for Seniors?

Finding the best deal on car insurance at any age can be a challenge, but it is worth taking some time to compare quotes and find the best value package.

  • Look for Specialized Insurers: Even if you’ve been with the same insurer for years, the chances are that as soon as you’re classified as a senior driver, your premiums will go up. So, it is a good idea to look for insurers that specialize in senior coverage.
  • Consider Your Deductible: If you want to bring down the cost of your insurance, consider paying a higher deductible. Just bear in mind that you will need to pay this amount in the event of an accident. So, don’t opt for a deductible that you cannot afford to cover.
  • Compare Quotes: It is always important to compare at least three quotes to ensure you get the best deal. You can use a comparison site to find quotes, which will save you some time and energy. You’ll only need to enter your details once and you can find multiple quotes.
  • Look at Like for Like Quotes: Of course, when you’re comparing quotes, it is important you look at them like for like. Basic liability is usually far cheaper than comprehensive. coverage. So, make sure that you are looking at policies that provide the same coverage. You can then look at the difference it makes to pay a higher deductible or enjoy fewer benefits and whether you’re prepared to make the compromise.
  • Check Back with Your Current Insurer: Once you’ve found an attractive quote, it is worth checking back with your current insurer. Some insurers have a price matching policy, so you can stick with the same insurer without paying over the odds.

After you have decided on your preferred quote, finalizing the insurance will be the same as any other car insurance policy. You’ll simply need to contact the insurer and have them confirm your details before arranging payment. You should then receive your policy documents, and you’re good to go.

How Is Car Insurance Different for Seniors?

Car insurance for seniors is different from standard insurance coverage because they provide age specific discounts. The costs for this type of insurance depends on a number of factors, as with standard policies including:

  • Deductible amount
  • Type of coverage
  • Your driving record
  • Location

There may also be additional perks included with the policy including roadside assistance, household assistance for injuries related to a car accident, or AARP membership.

However, there may be other minor differences, such as the option for larger print documents or additional helplines to access support.

Some insurers also offer additional benefits for seniors who complete a driving course or have optional safety features in their vehicle.

How to Get the Best Rate as an Older Adult?

Unfortunately, you are going to face an increase in your insurance costs as you get older. However, there are some tips to help you get the best deal.

  • Maintain a Clean Driving Record: At any age, your driving record is a crucial factor to calculate your car insurance premium. If you have a clean driving record, it suggests to insurers that you pose a lower risk. This means that you can qualify for a decent discount.
  • Be Accurate About Your Mileage: Insurers often offer discounts for drivers who clock up fewer miles. Less time on the road, means less chance of being involved in an accident. So, don’t automatically tick that you drive the average number of miles each year; be accurate. Since you’re not likely to be involved in the daily commute, you should be able to qualify for a discount.
  • Increase Your Deductible: We touched on this above, but a higher deductible is likely to reduce the cost of your premiums. Increasing your deductible could save you as much as 40 percent. Just be sure to keep your deductible affordable, in case you do need to make a claim.
  • Complete a Driving Course: Many insurers offer a discount if you can show you’ve completed a defensive driving course.
  • Decrease Your Coverage: Check your policies to see if the coverages meet your needs. If you already have coverage on some of your other insurance policies, there is no point in paying extra to have it included on your auto insurance. Alternatively, if you have no need for extras, you could save some money. For example, if you have another vehicle in your household, you’re not likely to need rental car reimbursement.
  • Bundle Your Insurances: You can qualify for discounts, consider bundling your insurance policies. For example, you can bundle your home and car insurance to save as much as 11%.
  • Swap to a Safer Car: You can reduce your liability by increasing the safety of your vehicle. New technologies such as collision alarms and rear view cameras can help you to avoid crashes and therefore pose less risk for your insurer.

Who Is Considered a Senior?

Research shows that maintaining your driving habits can reduce the risk of depression or losing your independence to live in a nursing home. So, it is important to keep your license and vehicle insurance.

While you may feel young at heart, your date of birth does have an impact on your car insurance quotes. In most circumstances, you’ll be considered a senior if you’re over the age of 65. Statistics show that there are currently over 40 million drivers in this age group on America’s roads today.

However, many insurers offer senior discounts even if you’re younger than 65. In some cases, it may be possible to secure a discount if you are 50 or older. So, it is well worth checking if you qualify for a senior discount.

How Much Should Car Insurance Cost a Month?

As with every age group, the exact cost of your insurance will depend on your driving history, location and other factors. However, you can look at average costs to see how your quotes compare.

If you’re in your 50s, you should find that your premiums are cheaper than both older and younger drivers. Drivers in this age group are some of the safest, as you have lots of driving experience, yet still have quick reflexes, reliable vision and good health. You can expect to pay an average of $1,519 per year. This works out at approximately $126 per month.

If you’re aged over 65, you will notice that your premiums start to increase. In fact, your current insurer may no longer offer the most competitive price. So, you’ll need to shop around. You can expect to pay an average of $1,547 per year or $130 per month.

From age 70, insurers will consider the higher rates of accidents and fatalities associated with older drivers. You can expect to pay an average of $1,808 at age 75, or $150 per month.

Once you reach age 80, your fatality rate is 17 times higher compared to 25 to 64 year olds. So, your insurance will reflect this. Your rates will increase 20% compared to age 75 and a massive 44% from age 60. The average rate for an 85 year old driver is $2,165 or $180 per month.

Cheap Car Insurance for Seniors

When you’re faced with several cheap car insurance quotes, it can be a little daunting to decide which one is the best option for you. Fortunately, you can make this decision a little easier by assessing some basic considerations.

  • Like for Like Quotes: Before you start comparing insurance products, be sure to check the quotes are like for like. We touched on this above, but it is crucial that you are looking at similar products or aware of the key differences. You may find that one quote is particularly cheap, but when you check the fine print, it doesn’t offer all the benefits of the other policies.
  • The Deductible: Your deductible can have a massive impact on your insurance costs. So, you need to check quotes have the same deductible. If you have a quote that is more attractive, you will need to decide if you are prepared to pay the higher deductible.
  • Liability Limits: The liability limits will depend on the insurer and specific policy. So, be sure to review the policy limits to ensure that they meet your needs while offering the best deal.
  • Vehicle Value: Another consideration is whether the insurer uses an accurate vehicle value figure to calculate the premiums. While you don’t want a cheap policy that does not provide an adequate vehicle value, you don’t want to pay over the odds for an inflated figure.
  • Eligible Discounts: Finally, you need to check that your quote includes all the discounts that you qualify for. Senior discounts vary across insurers, but you may also receive a discount for completing a driving safety course, having additional safety features on your vehicle or even bundling your policies.

Although you may be keen to find the cheapest car insurance, it is important to read the fine print and ensure the policy meets your needs. You’re likely to regret saving a few bucks if you struggle to make a claim in the event you’re involved in an accident.

Are Car Insurance Policies Cheaper for Seniors?

Age is one of the factors that insurers use to determine potential risk. New drivers can expect to pay very high premiums. These should slowly drop until the driver reaches 30 years old. Between the ages of 30 and 65, insurance costs typically remain steady. However, at this point, the rates begin to increase again.

Statistics show that teenage drivers are three times more likely to be involved in a crash compared to their 20 year old counterparts. For this reason, they have the highest premiums for any age group.

While teenage drivers typically pay the most, seniors do not have the cheapest insurance rates. However, you can keep your insurance costs under control with a seniors policy. These policies are offered by specialist insurers who take more than age into consideration when calculating premiums.

How to Save Money on Car Insurance as a Senior

Fortunately, you don’t need to be stuck paying excessively high premiums for your car insurance. There are several ways that you can save money on your coverage.

  • Take Driving Classes: In many states, insurers offer discounts if you refresh your driving skills by taking some classes. There are both online and in person classes through groups like the AARP and AAA. Classes are reasonably priced and you can learn how medications and aging impact your driving, and how you can safely accommodate these changes. It is worth checking with your insurer to see what approved classes qualify for a discount.
  • Choose a Cheap to Insure Car: Another factor that impacts your car insurance rates is the type of car you drive. Before making a purchase, get some insurance quotes for different models. Generally, the cheaper cars to insure provide good driver and passenger protection, don’t cost a lot to repair and are usually driven by safe, experienced drivers.
  • Protect Your Vehicle: If you can minimize your risk of losses, it will be reflected in your insurance rates. Technology such as disabling devices, alarms, or vehicle tracking systems can qualify you for a discount. Even something as simple as windshield etching of your Vehicle Identification Number can provide a discount.
  • Consider Pay Per Mile: Some insurers allow you to get credit for driving fewer miles. They even offer pay per mile programs, which base the premiums on how much you drive. You may need to plug a device into your car which records your mileage.
  • Shop Around: Finally, as with any age group, it is important to shop around. Don’t assume that your current insurer will offer the best deal, so compare quotes to find the best value package.

Your home state can have a significant impact on your car insurance rates. This can be attributed to high density populations, higher numbers of uninsured drivers, the costs of lawsuits and even unique insurance schemes.

In this chart created with data from The Zebra shows the ten most expensive states for car insurance. It shows Michigan continues to have the highest average annual premiums. The average cost of insurance is significantly more in Michigan compared to the second most expensive state, Louisiana.

10 Most Expensive States for Car Insurance in 2020

Typically, the states with the most inexpensive car insurance rates have lower population densities and less costly lawsuits and accidents. This chart showing The Zebra data on the average annual premium costs, shows that the state of Maine offers the least costly car insurance. This is closely followed by North Carolina and Virginia.

However, there is only a 25% difference in cost between Maine and the 10th least expensive state, Indiana. This is a different trend compared to the most expensive car insurance states, where the cost can be significantly different.

10 Most Inexpensive States for Car Insurance in 2020

What are the Discounts Seniors Can Get?

Discounts can be a great way to bring down the cost of your car insurance. As a senior driver, you may qualify for one or more discounts, including:

  • Lower Mileage: You could save up to 10 percent by driving less than 5000 to 7,500 miles per year.
  • Driver Qualification: There are driving courses, such as defensive driving or driving safety that could offer a discount of up to 15%. Age eligibility varies according to state, but most states require offering a discount.
  • Clean Driving Record: As with other age groups, you can qualify for a discount if you have held a clean driving record for three plus. This can be as much as 40%, so it is well worth avoiding speeding tickets and other driving offenses.
  • Memberships: You can also earn an “affinity discount” by becoming a member of organizations like the AARP. These organizations allow you to access promotional pricing and other benefits.
  • Bundling: You can also qualify for discounts if you bundle your other insurance policies with your car insurance. It is well worth checking if you can bundle your auto, home and other insurances to get an average discount of 11%.

Car Insurance Companies: What We Can Learn About J.D Power Research

JD Power provides an excellent resource to help you to learn more about insurers and the level of service that they offer. The company polls customers to determine their satisfaction with their insurance provider to create rankings of the best in the industry.

There were key areas of the 2020 study including the ease of use of the website. Website experience accounted for 34% of the total interaction score, but it also influenced the overall customer satisfaction. Brand loyalty was also influenced by claim history. Customers are more likely to feel frustrated and renew their policy if a claim has been denied.

This makes sense, as it doesn’t matter how good an insurer is if they fail you when you need to make a claim.

According to the 2020 JD Power Auto Insurance Study, the highest ranking brands vary according to region. However, the top brand in three areas was GEICO, this is followed by State Farm in two areas.

Does Car Insurance Go Up When You Turn 70?

As we touched on above, while your car insurance rates are likely to remain steady between the ages of 30 and 65, after this point, they will start to increase. You may also notice a significant increase once you turn 70.

This is because statistics show that drivers age 70 and over are more likely to be involved in a crash. Additionally, they are more likely to suffer serious injury even in less severe accidents. Insurers understand this and charge more to compensate for the increased risk.

Car Insurance Companies Review – Methodology

Our expert review team gathers data from many auto insurance providers in order to create rankings of the top insurers. Each company receives a score from each category, along with a overall weighted score of 5.0 stars.

Financial Stability: The highest score in this category goes to insurers with high financial ratings and customer-first practices. Although insurance marketplaces do not have financial strength ratings they can still be useful tools for drivers who are looking for premiums at competitive rates. If you are looking for an insurer that doesn’t underwrite your policies, be sure to check the rating of the partner company.

Coverage: The rating is based upon the types of insurance that are available, their maximum coverage limits and any add-on policies. We also consider exclusions that are applicable to certain drivers.

Cost and Discounts: We review auto insurance rates estimates for many drivers across every state. The best scores are awarded to companies that offer lower rates and have many discount options for car insurance. You can lower your insurance premium by qualifying for any driver discounts. Car insurance companies often offer discounts up to 25%-35% for eligible policyholders. 

The discount percentages offered vary depending on where you live and some companies restrict the amount of discounts that can be applied to your premium. We looked at the discounts offered in the various companies that we reviewed. Many allow you to combine different insurance policies to save on premiums. There are many savings options for drivers shopping for car insurance. These include discounts based on the type of car, profession, driving record, and other factors. Companies that offer a variety of options could lead to a lower premium for drivers were favored by us.

Customer Service: We review customer feedback and reviews from J.D. Power. Data such as market share, complaints to the National Association of Insurance Commissioners for private passenger car insurance (2020) and overall ratio of those complaints to the industry average. We took into account parameters such as companies mobile apps, advanced online services, and telematics make it easier for auto insurers to respond to consumer needs. 

Many providers offer support via phone, email and agents. Some even offer live chat and 24/7 support via phone, email, or mobile app, while some provide social media responsiveness during weekends and after-hours hours.