While car insurance costs often rise with age, seniors can still secure affordable coverage without sacrificing quality. As seniors’ driving habits and needs evolve, especially post-retirement or with a new vehicle purchase, finding budget-friendly options becomes crucial. monequince simplifies this process by evaluating numerous carriers to identify the best car insurance companies for seniors.
Find Out Your Cheapest category >>>
| Category | Company | Average Monthly Cost |
|---|---|---|
| Good drivers | Auto-Owners | $136 |
| After a speeding ticket | Westfield | $167 |
| After an accident | Auto-Owners | $179 |
| After a DUI | Progressive | $231 |
| If you have bad credit | Geico | $202 |
| For Seniors | Auto-Owners | $156 |
| For teens & young drivers | Erie | $113 |
Key Points:
Cheapest Car Insurance for Seniors Over 65-Years-Old
| Cheapest Car Insurance for Seniors Over 65-Years-Old | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| USAA | $88 | $1,057 |
| Geico | $102 | $1,227 |
| Nationwide | $105 | $1,263 |
| State Farm | $113 | $1,353 |
| Progressive | $131 | $1,566 |
The cheapest car insurance Companies 2024
| COMPANY | FORBES ADVISOR RATING FOR CHEAP CAR INSURANCE | AVERAGE ANNUAL COST FOR GOOD DRIVERS | AVERAGE MONTHLY COST FOR GOOD DRIVERS |
|---|---|---|---|
| USAA | ★★★★★ 5 Star | $1,412 | $118 |
| Auto-Owners | ★★★★☆ 4.5 Star | $1,628 | $136 |
| Westfield | ★★★★☆ 4 .5 Star | $1,759 | $147 |
| Geico | ★★★☆☆ 4.0 Star | $1,716 | $143 |
| Travelers | ★★★☆☆ 4.0 Star | $1,852 | $154 |
USAA – $118 a month , Auto-Owners – $136 a month , Geico – $143 a month , Westfield – $147 a month , Travelers – $154 a month .
Based on our research, the cheapest car insurance companies for seniors include:
The cheapest car insurance companies for seniors, based on our research, include Geico, Auto-Owners, State Farm, USAA, and Erie. These companies were identified using data from Quadrant Information Services, considering factors such as average rates for a 70-year-old driver with a clean record, coverage options, discount opportunities for seniors, financial strength, and customer satisfaction ratings.
Statewise Senior Car Insurance Rates for 65-Year-Olds
To Find Your State click below arrow :
| State | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Alabama | $119 | $1,430 |
| Alaska | $116 | $1,389 |
| Arizona | $140 | $1,680 |
| Arkansas | $121 | $1,453 |
Click left Arrow To Find Your State :
| State | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Alabama | $119 | $1,430 |
| Alaska | $116 | $1,389 |
| Arizona | $140 | $1,680 |
| Arkansas | $121 | $1,453 |
| California | $172 | $2,058 |
| Colorado | $149 | $1,786 |
| Connecticut | $234 | $2,808 |
| Delaware | $166 | $1,996 |
| District of Columbia | $151 | $1,816 |
| Florida | $229 | $2,748 |
| Georgia | $133 | $1,601 |
| Hawaii | $152 | $1,819 |
| Idaho | $83 | $995 |
| Illinois | $109 | $1,308 |
| Indiana | $106 | $1,276 |
| Iowa | $87 | $1,049 |
| Kansas | $109 | $1,304 |
| Kentucky | $142 | $1,703 |
| Louisiana | $244 | $2,925 |
| Maine | $75 | $898 |
| Maryland | $160 | $1,915 |
| Massachusetts | $170 | $2,034 |
| Michigan | $284 | $3,409 |
| Minnesota | $128 | $1,532 |
| Mississippi | $112 | $1,342 |
| Missouri | $130 | $1,556 |
| Montana | $143 | $1,712 |
| Nebraska | $119 | $1,430 |
| Nevada | $180 | $2,160 |
| New Hampshire | $111 | $1,327 |
| New Jersey | $158 | $1,896 |
| New Mexico | $116 | $1,397 |
| New York | $221 | $2,649 |
| North Carolina | $108 | $1,297 |
| North Dakota | $99 | $1,191 |
| Ohio | $81 | $971 |
| Oklahoma | $137 | $1,649 |
| Oregon | $107 | $1,289 |
| Pennsylvania | $139 | $1,673 |
| Rhode Island | $164 | $1,969 |
| South Carolina | $151 | $1,814 |
| South Dakota | $120 | $1,434 |
| Tennessee | $99 | $1,192 |
| Texas | $151 | $1,813 |
| Utah | $125 | $1,503 |
| Vermont | $84 | $1,011 |
| Virginia | $95 | $1,134 |
| Washington | $117 | $1,402 |
| West Virginia | $122 | $1,459 |
| Wisconsin | $94 | $1,123 |
| Wyoming | $141 | $1,696 |
It’s worth noting that rates can vary depending on individual circumstances, so shopping around is recommended to find the best deal. Additionally, it’s important to consider that Hawaii and Massachusetts do not allow age as a rating factor for car insurance, though Massachusetts carriers may consider the number of years you’ve been licensed.
Steps to Get Senior Cheap car insurance:
- Complete a defensive driving course: Many insurers offer discounts to seniors over 55 who finish an approved defensive driving course. This can lead to lower premiums.
- Update your driving status: If you’re no longer commuting for work, consider switching your driving status from commuter to pleasure-driving. Insurers often charge lower rates for pleasure driving, as it typically involves less mileage.
- Monitor your mileage: If you don’t drive much, explore pay-per-mile insurance options. With this type of coverage, you only pay based on the miles you drive, potentially resulting in significant savings if you’re a low-mileage driver.
- Maintain a clean driving record: Avoiding accidents and traffic violations is crucial for keeping insurance costs down. A clean driving record demonstrates responsible driving behavior and reduces the risk for insurers, resulting in lower premiums.
- Compare quotes: Don’t settle for the first insurance quote you receive. Shop around and compare quotes from multiple insurers to find the best rates. Be sure to compare the same coverage types and limits to make an accurate comparison.
Affordable Car Insurance for Drivers with Poor Credit: Top Companies :
Drivers with poor credit often face significantly higher auto insurance rates compared to those with good credit, sometimes even more than individuals with a DUI or at-fault accident on their record.
| Company | Average Cost Per Year | Average Cost Per Month | Total Savings Per Year Compared To Average |
|---|---|---|---|
| Geico | $2,426 | $202 | $1,203 cheaper |
| USAA* | $2,594 | $216 | $1,035 cheaper |
| Nationwide | $2,771 | $231 | $858 cheaper |
| Westfield | $2,964 | $247 | $665 cheaper |
| Safe Auto | $3,345 | $279 | $284 cheaper |
| Average | $3,629 | $302 |
Reason For Not Getting Auto Insurance :
- Driving History: Your driving record significantly affects premiums. Maintaining a clean record with no accidents or violations can lead to lower rates, while incidents like speeding tickets or DUIs result in higher costs.
- Credit Score: In many states, insurers consider credit history when setting rates. A lower credit score often correlates with higher premiums, making it essential for seniors to maintain good credit.
- Location: Where you live impacts insurance rates. Urban areas tend to have higher premiums due to increased traffic density and higher risk of accidents compared to rural regions.
- Vehicle: The make, model, mileage, and value of your car play a crucial role in determining premiums. Safer, more affordable vehicles typically result in lower insurance costs.
- Coverage Options: The types and extent of coverage you choose directly influence premium amounts. Seniors should carefully review and select coverage options that meet their needs without unnecessary costs.
Our Methodology
Our approach to evaluating car insurance companies is designed to provide consumers with reliable and unbiased information. We employ a thorough rating system that considers various factors to rank insurers accurately. By collecting data from numerous providers, we assign overall ratings to determine the top performers. Here’s how we assess them:
Cost: We analyze auto insurance rate estimates and available discounts to gauge affordability.
Coverage: We assess the range of insurance options offered by each company to ensure they meet diverse consumer needs.
Reputation and experience: Factors such as market share, ratings from industry experts, and tenure in the industry contribute to this score.
Availability: Companies with broader state coverage and minimal eligibility requirements score higher in this category.
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