The Best Car Insurance Companies for Seniors 2023
The Hartford, State Farm, Allstate, USAA, and Farmers are good options for senior drivers.
Updated December 5, 2022
Updated December 5, 2022
Almost every state requires drivers to have car insurance. But every driver has unique car insurance needs, including senior citizens. Because car insurance rates often increase after you turn 60, it can be beneficial for you to choose an insurance provider that offers discounts specifically tailored to your profile.
For example, some car insurance companies provide discounts for older drivers who complete a defensive driving course or bundle their policies. These discounts and others can help seniors save money on car insurance. To help you find the best car insurance for seniors, Insurify researched and compared some of the top providers for older drivers.
Car insurance for senior citizens is not one-size-fits-all. The best car insurance for you might not be the best option for your sibling or your neighbor. To find the best policy for senior drivers, it’s important to look at a variety of factors. Here are a few things to consider:
Policy types: Before you buy auto insurance, you’ll need to decide what type of policy you want. In almost every state, drivers are required to have a minimum coverage policy, which typically includes personal liability insurance. However, many insurance agents recommend upgrading to a full-coverage policy, which includes liability insurance along with comprehensive and collision coverage to pay for physical damage to your own vehicle.
Endorsements: Endorsements are optional car insurance policies that fill gaps in your coverage. These add-ons raise your car insurance premium but provide more protection. The most beneficial endorsements for seniors include accident forgiveness, gap insurance, new car replacement coverage, a disappearing deductible, and custom parts coverage.
Discounts: Most car insurance companies offer discounts that can help you save money on your policy. Every car insurance company has different discounts with unique savings potentials. You can often find discounts for having no recent claims, having a clean driving record, bundling a home and auto insurance policy, paying your annual premium in full, and having certain safety features in your vehicle. Some insurance companies also offer specific discounts for senior drivers just for having more experience.
Ratings: When choosing the best car insurance company, look at the ratings for each provider you’re considering. Organizations like J.D. Power, A.M. Best, and the National Association of Insurance Commissioners (NAIC) rate and score insurance companies based on criteria like customer satisfaction and financial strength. Companies that have poor third-party ratings aren’t necessarily bad providers — but be aware that low ratings could indicate issues with customer service, claims handling, or premium pricing.
Cost: For most drivers, cost is an important factor when choosing a car insurance company. As good practice, you should get personalized car insurance quotes from a few different companies before selecting a policy. That way, you can see which provider offers you the lowest premium for the type and amount of coverage you want.
Check Out: What Does Liability Insurance Cover?
Once you’ve identified a few car insurance companies that could be a good fit, spend some time comparing them. Comparison shopping is the easiest way to make sure you’ve chosen the best car insurance company for your coverage needs and budget.
One of the easiest ways to compare car insurance companies is to use a comparison website. You’ll fill out a single application with information like your location, the make, model, and year of your car, and how many miles you drive each day. Using that information, the website will match you with several insurance providers alongside the quote they offer.
If you don’t use a comparison website to shop for car insurance, you’ll have to fill out individual applications on every provider’s website and apply for personalized quotes separately. A comparison website saves you time and shows you the lowest rates based on your location, driver profile, and coverage needs.
While some older drivers may struggle with physical challenges, such as slower reflexes or hearing loss, they have decades of driving experience, making them generally less risky to car insurers. Many carriers offer a mature driver discount if you complete a defensive driving course. That helps seniors save money on car insurance and improve their driving skills, a win-win.
To find the best car insurance for senior citizens, Insurify looked at some of the factors that are most important to consider when choosing an insurance company, including third-party ratings, coverage types, and discounts. Here are some of the top companies for older drivers.
If you’re an AARP member, The Hartford is an excellent car insurance provider to consider, especially if you’re looking for cheap car insurance from a trusted provider.
The Hartford offers a variety of savings, including an automatic 10% discount just for being an AARP member. It also offers discounts for policy bundling, paying in full, getting a quote online, driving a hybrid vehicle, and more.
The Hartford also offers a variety of endorsements, like new car replacement coverage, a disappearing deductible, lifetime car repair assurance coverage, and RecoverCare coverage, which provides assistance around the house if you get injured in an accident.
The Hartford has great ratings, with an A+ from A.M. Best for financial strength. It’s also rated as the best midsize car insurance company for overall customer satisfaction in J.D. Power’s 2022 U.S. Insurance Shopping Study.
State Farm is the largest car insurance company in the country, underwriting more policies than any other property and casualty insurance provider. State Farm stands out for its high customer satisfaction score. J.D. Power rated State Farm as the best large insurer for overall customer satisfaction in its most recent insurance shopping study.
In terms of discounts, State Farm offers lots of ways for seniors to save. Qualified drivers can get discounts for being accident-free, bundling a home and auto insurance policy, taking a defensive driver course, having anti-theft devices in their vehicle, and several others.
State Farm offers state minimum-coverage and full-coverage car insurance policies, but it offers few endorsements. The only add-on coverage options are rideshare insurance, roadside assistance, and rental car reimbursement.
Allstate is one of the best car insurance companies for seniors who are looking for a good selection of discounts. Through Allstate, seniors can save money on their policy by insuring a new car, being a responsible payer, paying in full, enrolling in paperless policy statements, bundling two or more policies, having a car with antilock brakes, and more.
Like State Farm, Allstate offers a smaller selection of endorsements. The only optional coverages are roadside assistance, personal injury protection, rideshare insurance, rental reimbursement coverage, and personal umbrella insurance.
In terms of ratings, Allstate’s scores are mixed. In J.D. Power’s 2022 U.S. Insurance Shopping Study, Allstate is rated near the bottom of the list for overall customer satisfaction in the large insurer category. But the company has an A+ rating from A.M. Best for financial strength, which is one of the highest letter grades.
Seniors who served in the Armed Forces can qualify for auto insurance through USAA, which exclusively serves active duty and retired service members and their immediate family.
USAA has some of the best ratings of any insurance provider. While the company doesn’t technically qualify for ranking due to its eligibility restrictions, USAA received the highest customer satisfaction score from J.D. Power in the large insurer category. It also has an A++ financial strength rating from A.M. Best, which is the highest rating possible.
USAA also stands out for its generous selection of discounts, allowing seniors to find cheap car insurance policies. You can find savings for policy bundling, storing your vehicle, driving under a certain annual mileage, enrolling in autopay, insuring two or more vehicles, having a clean driving record, and more. You can also choose from a handful of endorsements for added coverage, but the options are limited.
Farmers offers some of the best car insurance endorsements, so it can be a good choice for seniors who want to customize their policy. Some of the endorsements that Farmers sells include roadside assistance, loss of use coverage, custom equipment coverage, spare parts coverage, OEM coverage, accident forgiveness, and more.
Farmers only advertises a few discounts. You can find savings for having a clean driving record, bundling your policies, and enrolling in the Signal safe driver program. Farmers’ website also mentions state-specific discounts, so we recommend contacting an agent near you to find out what other discounts you might be eligible for.
In J.D. Power’s 2022 U.S. Insurance Shopping Study, Farmers Insurance was rated just below average for overall customer satisfaction in the large insurer category. Farmers’ score is 862 out of 1,000, and the industry average score is just one point higher, at 863 out of 1,000. The company has an A- financial strength rating from A.M. Best.
The cost of car insurance for seniors depends on many factors, like location, credit score, and driving record. In general, car insurance rates start to increase around the age of 60 and get more expensive with each decade following. Still, seniors tend to have the lowest insurance rates of any age group overall.
Based on Insurify’s proprietary database, the percentage increase from the average premium at age 60 to the average premium at age 70 is about 6.5%. The increase from the average premium at age 60 to the average premium at age 80 is higher, at 15%.
In the table below, you can see the average monthly car insurance premium for drivers in their 60s, 70s, and 80s, based on sample rate data.
|Age Group||Average Car Insurance Quote|
|80s and older||$254|
Read More: Compare Car Insurance by Age and Gender
When comparing car insurance companies, most seniors are looking for the best price possible for the type and amount of coverage they need. Check out some of the cheapest car insurance quotes for seniors below. These rates reflect the average monthly policy premium for drivers ages 60 and older from some top companies.
|Insurance Company||Average Monthly Quote|
Read More: The Cheapest Car Insurance Companies for 2022
The data featured on this page is sourced from Insurify’s proprietary database of over 70 million car insurance quotes. Insurify’s team of data scientists analyzed quotes for drivers between the ages of 60 and 89 to reveal the average quotes from top companies for each age group and for senior drivers in general.
Most car insurance companies provide discounts that senior drivers can take advantage of. Here are some of the most common car insurance discounts available and which companies offer them:
|Discounts for Seniors||How to Get It||Companies That Offer It|
|Defensive driver course discount||Enroll and complete an approved course, then provide a certificate of completion to your insurance company.||USAA, GEICO, State Farm, Nationwide, Travelers|
|Policy bundling discount||Purchase auto insurance and home/condo/renters insurance from the same company. Some insurers allow you to bundle any two policies to get this discount.||GEICO, State Farm, Liberty Mutual, AAA, National General, Amica, Allstate, Progressive, American Family|
|Safe vehicle discount||Provide your car’s VIN to an agent. The VIN indicates which safety features your car has, like antilock brakes or an anti-theft device. The discount is automatically applied if your car meets the requirements.||Amica, State Farm, Progressive, Travelers, GEICO, American Family|
|Military discount||Provide proof of military service, such as a DD214, Discharge Certificate, or Leave and Earnings Statement. Check with the insurance company to see which documents are accepted.||USAA, GEICO, The General, Liberty Mutual|
|Low mileage discount||Report to your insurance company that you intend to drive under a certain mileage (often 10,000 miles or less) per year. At the end of the policy period, you may have to report your odometer reading to verify how many miles you drove.||American Family, GEICO, Nationwide, Esurance|
|Safe driver discount||Your insurance company uses DMV reports to verify your driving record. If your record is clean, you will automatically receive this discount.||Progressive, Liberty Mutual, Allstate, USAA, GEICO, Travelers, Nationwide|
If you’re a member of AARP, you can purchase a special car insurance policy through The Hartford. To apply, you’ll be asked to submit your AARP member number to verify your membership. The Hartford will automatically give you a discount just for being an AARP member.
Based on our sample rate data, the car insurance companies with the cheapest rates for senior drivers are State Farm, Farmers, and Erie. However, every driver pays a different rate for coverage based on their personal situation and location.
We determined that State Farm and Farmers are two of the best car insurance companies for seniors. In addition to these providers, we would also recommend Allstate and The Hartford, even though they don’t have the cheapest rates for older drivers.
In general, car insurance rates don’t get cheaper as you get older. The opposite is usually true. The cost of car insurance tends to increase with age because older drivers are statistically more likely to get into accidents than younger drivers. However, older drivers can often take advantage of discounts to lower their car insurance premiums.
Car insurance rates for seniors vary based on a variety of personal factors, including age. On a monthly basis, the average premium for a 60-year-old is $216, for a 70-year-old is $230, and for an 80-year-old is $254.
However, age is only one of the factors that affect car insurance rates. Your location, credit score, claims history, driving record, gender, and the type of car you drive can also affect the cost of your policy.
Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com.Learn More