Explore discounts and find the best rates for auto insurance for senior citizens.
Senior drivers pay, on average, $1,315 per year or $110 a month for auto insurance. The 60 to 69 age group pays the second-cheapest car insurance rates, behind only those in their 50s.
Saving money is important at any age. But if you're no longer working or are saving for retirement, the need to be fiscally responsible is even more paramount. So, in order to determine the best car insurance company for seniors, we created a user profile (outlined here) and examined some top companies across the U.S. So, let's get to it. Click on each insurance company below to see more information on coverage offerings, available discounts and insurance policy details for senior car insurance.
|Rank||Car Insurance Company||Average 6-Month Premium||Monthly Premium|
At $77 a month, Nationwide is the cheapest car insurance company for drivers in their 60s and can cover all of your bases when it comes to coverage. The company offers some coverage add-ons that can provide more protection beyond a basic policy:
While Nationwide doesn't offer a senior discount, the company offers a variety of other discounts senior drivers could qualify for:
Famous for the tagline, “15 minutes can save you 15% or more on car insurance,” GEICO offers the second cheapest car insurance rates for older drivers on average across all ZIP codes, along with a good number of coverage options beyond the standard suite of collision, comprehensive and liability. These coverage types include:
However, GEICO may not be the cheapest insurance company for those with at-fault accidents or tickets on their record, according to our analysis of the best cheap companies. Learn more about GEICO in our review.
If you are aged 50 or older, you could qualify for a unique contract type from GEICO. This special contract option guarantees policy renewal from year to year and is known as their Prime Time contract. It can be applied either when you first buy a GEICO policy or when it's time to renew. You could be eligible if you meet the following criteria:
Note that this contract type is only valid in the following states: Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oregon, South Carolina, Tennessee, Utah, Virginia, Washington, West Virginia and Wisconsin.
GEICO doesn't offer a discount specifically for senior drivers. But the company offers other discounts you could qualify for:
Only military members, veterans and qualifying family members can acquire insurance through USAA, which is consistently rated as one of the nation's top insurance companies. USAA's rates, on average, also tend to be very affordable. USAA is the third-cheapest company for seniors and charges an average insurance premium of $89 per month. However, the company doesn't offer many coverage add-ons compared to other top insurers:
USAA does not offer a mature or senior discount. In place of this, consider qualifying for these discounts instead:
Like the GEICO gecko, Progressive’s Flo is what most people remember about the company. Looking at Progressive's rates, it’s not hard to see why the company is so popular. While not as cheap as Nationwide or GEICO, Progressive is the fourth cheapest option of the eight companies surveyed for seniors, with an average car insurance premium of $559 (or $93 a month). Progressive auto insurance policies can be bolstered with some additional coverages:
One of Progressive's selling points is its SnapShot program. Using a plug-in telematics device, SnapShot offers usage-based coverage, adjusting your auto insurance rates based on your driving habits and mileage.
While Progressive isn't the most affordable company for seniors, it could be among the cheapest if you have citations or accidents on your driving record.
While the company doesn’t offer direct insurance discounts for seniors, Progressive has plenty of discounts available to its customers, including:
State Farm is the most popular insurance company in the U.S., with local agents all over the nation. Depending on your location, it might be one of the most affordable options. For senior drivers, it's the fifth cheapest insurance company with an average monthly cost of $96. However, State Farm has a limited selection of coverage options if you're looking to get more protection than the typical policy.
State Farm does not list any specific discounts for senior citizens. Discounts that seniors can take advantage of include:
The Hartford is a unique insurance company, as it's specifically designed for those older than 50 and only available for registered AARP members. The Hartford's customer service and claims satisfaction are very well-regarded, but that comes at a price — it's the third most expensive insurer for seniors according to our data. Still, it's worth considering The Hartford for its coverage options (which come in tiers). AARP auto insurance offers coverages that can be tailored to your needs:
Enrolling in the Advantage Program at The Hartford brings some improved coverage in the form of these additional protections:
The top tier of coverage from The Hartford includes:
The Hartford offers auto discounts to all its customers, including the following methods of saving:
Farmers is the second most expensive insurance company for drivers in their 60s and comes with mediocre ratings for customer satisfaction. Like State Farm, Farmers has local agents nationwide for those who prefer personalized service. Coverage from Farmers is quite comprehensive and includes the following:
If you're over age 55 and complete a state-approved defensive driving course, you can qualify for Farmers' senior driver discount. Keep in mind discount availability varies by state. Other ones include:
Founded in 1931, Allstate is the most expensive insurance company for seniors. Coverage comes at $158 per month, on average, making Allstate $44 pricier than Farmers. Like State Farm, Allstate has local agents available nationwide and can provide ample protection for elderly drivers and their vehicles:
The company also offers a few perks for Allstate policyholders. These benefits are included when you enroll in a policy:
Similar to the companies detailed above, Allstate’s discounts aren’t directly tailored to senior citizens, yet seniors can still benefit from them. These are some of the insurance discounts available via Allstate that can help lower your car insurance quote substantially.
|State||Insurance Company||6-Month Premium|
|Kansas||Iowa Farm Bureau||$543|
|Louisiana||Southern Farm Bureau||$685|
|North Carolina||State Farm||$386|
|Nebraska||Iowa Farm Bureau||$596|
|New Jersey||New Jersey Manufacturers||$538|
|South Dakota||State Farm||$523|
With all variables constant, Nationwide offered the cheapest car insurance for seniors. However, that doesn't necessarily mean Nationwide will be the best insurance provider for you. If you want some other ideas on how to lower your car insurance rate, see our quick tips below on how to save.
The cheapest auto insurance may not always be the best auto insurance for your needs. Some insurance providers specifically cater to the needs of older drivers. For instance, an older driver who is an AARP member may find coverage from partner company The Hartford to better meet their insurance needs. If you're seeking cheaper or more robust coverage for senior car insurance, compare quotes by entering your ZIP below to get started.