Tyron Jones
Personal Finance Expert
Updated: 02/2022
Tyron Jones is a finance expert who has operated within the auto insurance business for more than 10 years. He has written many other finance related articles for a number of prominent publications.
Senior citizens may not be aware that if your driving abilities remain the same, and if your record remains clean, your auto insurance rates still increase as you grow older. There is a pattern. If you are a beginning driver, your rates are high. Then, when you enter your middle years, your rates drop. Then your rates increase once again as you grow older.
Our goal is to save as much money as we can on car insurance. So, with that in mind, we are going to look at saving money in our 50s, 60s, 70s, and beyond.
What Insurers Think
Insurers say that older drivers are more prone to accidents than those at middle-age. This is partially due to hearing loss, a change in vision, health conditions, and medications, as well as slower reflexes.
Also, senior drivers often suffer more severe injuries and more fatalities when involved in an accident. This results in seniors having more expenses involved when treating an injury. So, as a result, these costs are passed on.
Even if you do not have an accident and no tickets, your premiums will probably increase. However, this depends on your insurance company. This is because premiums are determined by the group, as opposed to just your own record. Your location also plays a role. If you live in New York City, NY, as opposed to Phoenix, Arizona, you most likely will pay more if you live in New York. If you are one of those drivers facing a mid-life crisis and you are driving around in a fancy convertible, you are more likely to have an accident as opposed to someone driving around in a minivan. Your convertible will result in costing you more money for your insurance.
Seniors are exposed to many issues they didn’t face years ago. As a result, it is adding to the insurance bill by costing them money. An example is the cell phone. A few years ago, the American Automobile Association reported that more than 50 percent of drivers, in the age from 65 to 69, said they use their cell phone while driving at least once per month. Twelve percent reported using the cell phone regularly while driving.
In their favor, seniors offered some better behavior by using seat belts while also avoiding driving while drinking. Due to the different driving habits of seniors, their license renewals have different variations according to the state in which they live. Some of these different provisions include more frequent renewals, restricting online or mailed renewals; completing a vision test; participating in a road test; reduced or waived renewal charges.
More states are creating policies whereby elderly drivers must be retested. This is due to such factors as reaction time, health changes, and driving skills, in general — the primary purpose of retesting seniors if out of the concern for public safety. No one, including senior citizens, wants someone on the freeway who is unable to drive safely.
Some seniors are in luck when it comes to discounts. Thirty-four states require discounts to be given to drivers who are enrolled in or who have completed driver safety courses. These same states also require drivers over 55 to be given discounts for a good driving record.
Finding the Best Auto Insurance Rate
Different insurance companies begin charging higher rates at different ages. This is a good reason to shop around for your insurance. For example, some companies will increase your premiums when you are in your 50s, while others will begin the rate increase when you are in your 60s. To have a better understanding, we will look at the rates and the different age groups.
First, let’s look at auto insurance for people in their 50s. Surprisingly, people in their 50s find auto insurance cheaper than for older or younger drivers. The reason for this is because people in their 50s are among the safest drivers. This is due to their experience, quick reflexes, reliable hearing and vision, and good health.
People in their early 60s are likely to pay less for their auto insurance. However, when you hit age 65, some companies increase insurance premiums. This might be a good time to shop around and compare rates different companies charge. Full-coverage for a 65-year-old has an average yearly rate of $585.
Most likely, your insurance premiums will be increased when you hit age 70. This is partly due to studies that indicate drivers at this age have much higher rates of intersection-related accidents, resulting in fatalities, as opposed to younger drivers. This equates to more accidents means more claims resulting in higher rates. This seems just to be the beginning. When you enter your late 70s or early 80s, a person’s abilities degrade significantly. The average yearly cost for full-coverage for a 75-year-old is $718.
When a senior citizen reaches their 80s, and more, their death rates, due to automobile accidents, exceed the death rates of teenage drivers. It is a fact that driving becomes increasingly more hazardous for those aged 80 and up. The American Automobile Association says that the fatality rates, for older drivers, is 17 times higher as opposed to those in the age group of 25 to 64 years old. This is not necessarily due to bad driving; it has more to do with the human body’s fragility during the ninth decade of living. The average cost of a full-coverage for an 85-year-old has an average price of $887.
How to Save on Auto Insurance
The good news is that there are ways to cut the cost of auto insurance. One way is to drive less. If you are driving less, possibly due to retiring from your job and cutting out that daily roundtrip driving, or no longer taking your grandchild to school and picking them up, no matter what the reason, make sure to inform your insurer. Some states require insurance companies to consider driving mileage when setting their premiums. This can save you anywhere from a small amount to a total of 10 percent. Low-mileage is generally considered to be 5,000 to 7,500 driven miles per year. Another option is to consider “pay-as-you-drive” insurance. A device tracks your total number of miles driven. However, it also considers how fast you drive, your braking habits, and the hours of the day you drive.
Another tip is to bring in big brother. This can save you a whopping 40 percent by using usage-based or pay-as-you-go auto insurance programs. This method has already been mentioned; however, you could also save in other ways, which include driving less and driving safely.
A way to save on your premiums from 5-15 percent is by taking a mature driver course. You must complete the course, followed by informing your insurance company once you have completed it.
You might also consider dropping a driver from your insurance policy. This will reduce your rates.
There is no guarantee you will get a reduced premium. Still, many insurance companies lower rates when you install a rearview camera, lane drift, collision warning systems, or parking assist as these will help to prevent an accident. Even if you aren’t offered a discount, they will help you to be a better driver.
Another way of reducing your insurance premium is by joining a club. For example, an organization such as AARP will offer you access to the reduced pricing. This is called an “affinity discount.”
If you have homes you live in located in different areas, making you a “snowbird” during part of the year, you can investigate “parked vehicle” coverage. You might qualify for cheaper insurance during the months you do not drive your vehicle.
Perhaps the most dreadful suggestion is to quit driving. If you have had many tickets or several accidents, it might be time to turn in your keys. This is often a difficult decision to make. The one good point is that you go from paying hundreds of dollars each month for car insurance and reduce it to 0 dollars. Even so, it is a difficult thing to do to give up driving after so many years of being on the road.
Looking for the Best Auto Insurance Company
If you are looking to change your insurance carrier, you will want to look for the “best” company to cover you. The problem with this is that there isn’t a single best company. You should be aware that the cheapest auto insurance for senior citizens depends on several factors. These include the driver, the vehicle, and the location. You should always be aware that your driving ability will be impacted by the changes to your body. With this in mind, you can consider the following tips.
Helpful Tips for Seniors
Always maintain your health. Check your vision, hearing, and general health on a regular basis. If you use a hearing aid or wear glasses, make sure to keep them up-to-date. If you have a difficult time seeing well at night, then always avoid night driving.
Try to stay physically active. This will most likely help to maintain your quick reaction times.
Keep your vehicle adjusted. It involves elevating your seat to receive a satisfactory vision. Adjust your mirrors so you can see the cars in your area. Make sure your vehicle, particularly your brakes, are always in good working order.
Check your medication to understand how they might affect your ability to drive. Do not drive after taking a medication that warns you about operating machinery.
Create a better driving method by having a great distance between you and the car in front of your vehicle. Try to avoid the busy parts of town. Also, try to avoid driving during the active hours of the day.
Try to plan your driving route. Stay away from as many intersections as possible. Also, try to avoid left turns, which can always be risky.
Enroll in a defensive driver class to sharpen your skills. Also, try a behind the wheel refresher course as this can improve your skills and result in offering you a lower insurance rate.
Keep your auto in “tip-top” shape. Have your car inspected on a regular basis. Have tune-ups when necessary. Once you start doing this, you will reduce the risk of having a roadside breakdown.
There are millions of senior citizens on the road. Each one wants to drive as safely as possible in order to keep everyone safe. Although it might be a hard pill to swallow, part of this is assured due to insurance rates. An elderly person must go the extra step to show that s/he is a capable driver.
FAQ
General Auto Insurance for Seniors
This section covers general questions you have about auto insurance for seniors.
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How old do you have to be for senior car insurance?
Most insurance companies consider people 65 and older to be seniors for the purposes of their policies.
What age is considered a senior for car insurance?
65 and older is usually the age where insurance companies consider someone to be a senior.
What should senior citizens get on their auto insurance?
Senior citizens should make sure any policy they get comes with the state-minimum liability insurance and any applicable discounts.
What are the best auto insurance policies for seniors?
The best auto insurance policies for seniors depends on where you live, but State Farm, Hartford from AARP, and Progressive are some of the best options.
How much auto liability insurance should senior driver have?
Senior citizens should be sure to have at least the state minimum liability coverage. Beyond that, it depends on your needs. Compare auto liability insurance quotes by completing the form above.
What is a car insurance for senior over 65 who drive short distances?
Some companies offer specialized policies for seniors over 65 who drive short distances. However, it depends on where you live for what options you have.
Which auto insurance company is the best for seniors?
The best auto insurance company for seniors depends on lots of factors. Many people like Hartford from AARP, but Progressive, State Farm, and Liberty Mutual are also popular options.
What kind of car insurance do seniors have?
Most seniors have comprehensive insurance. That means they have liability coverage and coverage for their car if something happens. Make sure you don’t need more insurance on leased car.
Auto Insurance for Seniors in Specific States
We’ll answer the most popular questions about auto insurance for seniors in specific states in this section.
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Where to find best car insurance for seniors in VA?
Everyone will get a different quote based on their driving record, car, and other factors. However, Allstate, Geico, and Farmers are some of the most popular VA insurance options for seniors. Compare insurance by zip code to get a good idea of what others are paying.
What is the insurance break for senior citizens on car insurance in Kansas?
Kansas doesn’t mandate a break for senior citizens, but they do require a 4-year renewal option after 65.
How to dispute senior auto insurance increase in Texas?
The best option to dispute auto insurance increase in Texas is to ask your insurance company. If you aren’t satisfied, then you should talk to the Texas Department of Insurance.
How to find the lowest car insurance rates in Georgia for a senior citizen?
The lowest car insurance rates in Georgia for seniors can change depending on where you live and your driving record. Hartford from AARP, Allstate, and Farmers are popular options. Related: How to lower my car insurance?
Help for Florida seniors who cannot afford auto insurance?
The state of Florida doesn’t have any options for seniors that can’t afford auto insurance. Your best option is to shop around and see what discounts you can apply for.
How will the new MI auto insurance affect seniors?
New MI auto insurance laws will affect seniors differently depending on their driving record and current policy. You should talk to your insurance agent for more information.
Why is auto insurance so high in Florida for senior citizens?
The price of your policy depends on lots of factors. You should talk to your local insurance agent to get more information about your cost for insurance. You could also look into per mile car insurance if you drive less than the average.
What auto insurance is required in TX for senior does not drive much?
TX requires seniors to maintain at least state minimum liability coverage.
How can Maryland senior citizen lower car insurance?
Maryland senior citizens can lower their car insurance by taking driver safety classes and asking their agents what other discounts they can qualify for. Related: Why is my auto insurance so high?
What is the average cost of car insurance for seniors in AZ?
People over the age of 60 pay an average of about $1,125 per year for car insurance in AZ.
Auto Insurance for Seniors and Specific Companies
This section answers the most common questions about auto insurance for seniors and specific companies.
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What is the best insurance company for 70-year-old senior car insurance?
The best insurance company for a 70-year old senior depends on lots of factors, like where you live and your driving record. As you shop auto insurance rates doing internet searches can help you determine the best option in your situation.
Does Geico have senior discounts for auto insurance and at what age?
Geico has discount options for people over 50, including defensive driving courses, multiple car discounts, and more.
How big is discount for car insurance after taken senior safety course in Farmers Insurance?
The exact discount you get from a senior safety course depends on lots of other factors. You should ask your insurance agent about your specific case.
How can seniors get car Liberty Mutual auto insurance discount and what is a qualified zip code?
You’ll need to talk to a Liberty Mutual agent to see what discounts you can qualify for and what zip codes qualify for discounts.
Auto Insurance for Seniors Pricing
We’ll look at pricing for auto insurance for seniors in this section.
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How much for auto insurance for senior couple?
On average senior couples pay about $1,450 per year for auto insurance.
What age do seniors car insurance rate increases?
General auto insurance rates go up for seniors when you’re in your late 60’s and early 70’s. Related: Why does car insurance go up?
When do car insurance companies lower their rates for seniors?
Each company has different policies about how they set rates. You’ll need to talk to your agent to see what your options are. However to get cheap auto insurance for bad driving record you may have to shop around more.
How much auto insurance for seniors?
Auto insurance for a senior couple costs about $1,450 per year on average.
How can seniors lower their car insurance bill?
There are lots of ways seniors can lower their insurance bill. Defensive driving course discounts, multi car insurance discounts, government worker discounts and more are all options.
How to compare auto insurance rates for seniors?
The best way for seniors to compare auto insurance rates is for them to use internet insurance price comparison tools.
How much can a senior citizen save on their auto insurance by taking a safety course?
The discount a senior citizen gets on their insurance from taking a safety course changes based on lots of other factors. Your agent can help you understand what your discount will be.
What the best cheap auto insurance for senior citizens?
The best cheap auto insurance for seniors changes based on where you live, your driving record, your car, and other factors. Hartford from AARP, Liberty Mutual, Progressive, and Geico are popular options.
Why seniors pay more for car insurance?
Some seniors pay more for car insurance because the insurance company thinks that seniors are more likely to be in a crash or file a claim. That doesn’t mean you can find low full coverage car insurance for example. You just need to shop around more.
How to get financial aid senior discount for car insurance?
Different states may offer financial aid, so depending on where you live you’ll have different options. You can also talk to your insurance agent about ways to lower your bill.
What seniors expect to pay for auto insurance?
A senior couple should expect to pay an average of about $1,450 a year for car insurance.
How much can a senior save on car insurance with defensive driving course?
The savings a senior gets on a defensive driving course change based on lots of other factors. Your agent can help you understand your savings potential in your case.
How much is car insurance for seniors over 80?
On average, people 80 and over will pay about $1,750 per year for car insurance.
For seniors what is the average home and auto insurance combined?
There’s no average price for this, as prices change wildly from state to state. You should search for your state to find more information about your question.
What are the average monthly car insurance payment for seniors over 80?
On average a senior over 80 will pay about $146 a month for car insurance.
What is the lowest liability auto insurance for seniors?
The lowest liability auto insurance for seniors changes based on what state you live in. Search by your state for more specific answers to your question. Related: What is the car insurance expired grace period?
Other Auto Insurance for Seniors Questions
We’ll cover question that don’t fit into our other categories here. Check here if you can’t find your question elsewhere.
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What are the most important coverages for seniors you need for auto insurance?
What are they not telling about senior rates for car insurance?
This is probably from a spam internet ad. If you have any questions about your car insurance you should talk to your local agent.
How long are the senior driving tests good for lower your car insurance?
Each company and state have different policies regarding how long a driving test can lower your insurance. Contact your company for more information.
What is the new rule to save senior drivers on auto insurance?
There are different rules in place depending on where you live. You should talk to your agent or search for information about your state for a more specific answer to this question.
