Best Car Insurance for Seniors

Find the best rates on car insurance for senior citizens

Which insurance company is actually the cheapest for seniors?

In order to really examine what cheap car insurance is for people 55 and over, we decided to examine some of the top insurance company across the US using a dummy profile that is consistent across all metrics. Here is our dummy profile:

  • Name: John Smith
  • Marital Status: Married
  • DOB: 08/01/1962
  • Vehicle: Owned 2015 Toyota Camry. Average mileage 12,000/year used for pleasure.
  • Licensed: Since 16-years-old
  • Education level: Bachelors
  • Driving history: No accidents/citations
  • Wife: Jane Smith — not insured on this policy, DOB 08/01/1962

Next, we needed to set where our fictitious user would be located. In order to collect an average, we randomly selected 10 zip codes across the US. Here are our random zip codes:

  • Saint Albans, NY - 11412
  • Ogden, UT - 84404
  • Culpeper, VA - 22701
  • Klamath Falls, OR - 97603
  • Middleburg, FL - 32068
  • Glendale, AZ - 85302
  • Hamden, CT - 06514
  • Toledo, OH - 43617

Next, we landed on five popular companies to examine. Geico, State Farm, Allstate, Hartford, and Progressive. Now, with all that established, let’s get into the nitty-gritty of our analysis: what is cheap car insurance for seniors?

Spoiler alert: it’s Geico.

Our Findings: 5 Companies Premiums by Zipcode

Zip Code Geico Progressive State Farm Allstate Hartford
Saint Albans, NY $855 $1,295 $2,117 $1,007 $6,875
Odgen, UT $393 $605 $1,114 $940 $718
Culpepper, VA $390 $345 $969 $824 N/A
Klamath, OR $409 $543 $822 $958 $888
Middleburg, FL $601 $645 $1,416 $1,191 $1,140
Glendale, AZ $826 $590 $1,179 $1,924 $1,284
Hamden, CT $567 $907 $1,075 $1,567 $1,218
Ankeny, IA $289 $342 $523 $531 N/A
Durham, 27703 $323 $349 $418 $842 N/A
Toledo, OH $275 $555 $842 $683 $582
Average $493 $618 $1,048 $1,047 $1,301

Geico: Cheapest

Famous for their phrase, “15 minutes can save you 15% or more on car insurance,” Geico was the first company we chose to examine. Out of all the companies, Geico had the cheapest rates across all zip codes. Geico’s prices, like most of the companies examined, follow the general trend of car insurance in the US. Ohio, where insurance is typically the cheapest, is hundreds of dollars less than the other zipcodes. Moreover, New York, is considerably expensive and is the 13th most expensive state to have auto insurance, out of all of the US.

Zip Code Mr. Smith's Premium with Geico
Saint Albans, NY $855
Ogden, UT $393
Culpeper, VA $390
Klamath Falls, OR  $409
Middleburg, FL $601
Glendale, AZ  $827
Hamden, CT $567
Ankeny, IA  $289
Durham, NC $323
Toledo, OH $275

Progressive: 2nd

Like Geico’s gecko, Progressive’s Flo is what most people will recognize about their company. And, looking at their rates, it’s not hard to see why they’re so popular. While not as cheap as Geico, Progressive is the second cheapest option of the five companies surveyed with an average rate of $618. Like the case with many of these companies, Progressive has a unique feature to their company that can lower your rate called SnapShot. Using a plug in telematic, SnapShot is close to the idea of a "usage-based" insurance. It's more of a personal look at your driving patterns. Which, depending on your driving, can save you lots of money

Zipcode Mr. Smith's Premium with Progressive
Saint Albans, NY $1,295
Odgen, UT $605
Culpeper, VA $345
Klamath Falls, OR $543
Middleburg, FL $645
Glendale, AR $589
Hamden, CT $907
Ankeny, IA $342
Durham, NC $349
Toledo, OH $555

Allstate: 3rd

Founded in 1931, Allstate has good user satisfaction and claims rating, and, overall, are a reasonably expensive insurance company. They are 3rd cheapest, just a dollar more expensive than State Farm. With the actual application process for Allstate, there were a few ways to save that were specific to them. Because the point of this experiment is to attempt to keep all the metrics across the board the same, we did not have Mr. Smith participate in them. If, however, you have an Allstate homeowners policy and would like to bundle your auto, consider the Early Signing and Allstate eSmart as ways to save. For Mr. Smith's profile, these selections would have saved him $85!

Zipcode Mr. Smith's Premium with Allstate
Saint Albans, NY $1,007
Odgen, UT $940
Culpeper, VA $824
Klamath Falls, OR $958
Middleburg, FL $1,191
Glendale, AR $1,924
Hamden, CT $1,567
Ankeny, IA $531
Durham, NC $842
Toledo, OH $683

State Farm: 4th

State Farm is the most popular insurance company in the US, and, depending on your location, you can understand why they’re so popular. State Farm’s most expensive states, Florida and New York, follow the insurance trends of the US. As these states, because of a myriad of details including insurance laws, population, and weather trends, tend to have higher premiums.

Zip Code Mr. Smith's Premium with State Farm
Saint Albans, NY $2,117
Ogden, UT $1,114
Culpeper, VA $969
Klamath Falls, OR $822
Middleburg, FL $1,416
Glendale, AZ $1,179
Hamden, CT $1,075
Ankeny, IA $523
Durham, NC $418
Toledo, OH $842

Hartford: 5th

Hartford is a unique insurance company as it specifically designed for people in our dummy profile’s age group — those older than 55-year-olds. They are very well regarded in terms of their service and claims satisfaction, but, from our analysis, that comes at a price. Out of the five companies we examined, the Hartford was the most expensive. Averaging the 10 zip codes, the Hartford’s auto insurance premium was more than twice as much as Geico and Progressive. Still, consider if your profile, differing from Mr. Smith’s, might make you a better candidate than him before negating the Hartford Insurance company.

Zip Code Mr. Smith's Premium with The Hartford
Saint Albans, NY $6,875
Ogden, UT $718
Culpeper, VA N/A
Klamath Falls, OR $888
Middleburg, FL $1,440
Glendale, AZ $1,1284
Hamden, CT $1,218
Ankeny, IA N/A
Durham, NC N/A
Toledo, OH $582

Cheap Car Insurance for Seniors: What you should consider

All other things constant, i.e., the variables of Mr. Smith, Geico was the cheapest insurance provider. However, that doesn't necessary mean Geico will be the cheapest company for you. The best way to find the insurance that suites your driving profile is to shop around with as many companies as possible.

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