Cheapest car insurance for seniors |Insurance.com

What is the cheapest car insurance for senior citizens?

Erie has the lowest rates, with annual premiums averaging $1,972, among major carriers. Travelers is the cheapest national company at $2,076. USAA, only available to military drivers and their families, is the only company other than Erie that comes in under $2,000 a year, and the cheapest of all carriers.

Compare car insurance rates by company below.

Cheapest car insurance companies for seniors

Select your age and state below to see the average annual and monthly rates.

Company name	Avg. annual premium	Avg. monthly premium

Cheapest car insurance for seniors with tickets or accidents

Erie Insurance is the cheapest car insurance company for senior drivers with a ticket on their record at $2,081 a year; again, Travelers ($3,030) is the cheapest national carrierAn insurance carrier is the company that provides your car insurance policy and pays claims.. The same two are the cheapest for drivers with an accident: Erie at $2,431 and Travelers at $3,148. USAA is the cheapest if you’re eligible.

Compare rates by company for a clean driving record to rates for one speeding ticket and one accident below.

Company	Annual average clean record	Annual average speeding ticket	Annual average accident
Allstate	$3,154	$3,740	$4,997
American Family	$2,012	$2,555	$2,835
Amica	$2,877	$5,114	$4,135
Auto-Owners	$2,058	$2,617	$2,638
Erie Insurance	$1,972	$2,081	$2,431
Farmers	$2,978	$4,014	$4,731
GEICO	$2,196	$3,466	$3,737
Nationwide	$2,299	$3,385	$3,698
Progressive	$2,408	$3,100	$3,720
State Farm	$2,719	$3,063	$3,174
Travelers	$2,076	$3,030	$3,148
USAA	$1,585	$1,780	$2,392

Read our methodology

*USAA is only available to military members and their families

How much is car insurance for seniors? Average rates by age

Car insurance rates for seniors start to rise at age 65. The average cost of a full coverage policy is:

Age 65: $2,274
Age 70: $2,140
Age 75: $2,620

Below are the average costs for three different age groups and three types of insurance coverage. We include the cost of a bare-bones state minimum policy, a liability-only policy with higher limits of $50,000 for bodily injury coverage per person, $100,000 per incident and $50,000 in property damage coverage, written as 50/100/50. We also included a policy with liability limits of 100/300/100 plus collision and comprehensive, with a $500 deductible.

Expert tip: You need collision and comprehensive coverage if you have a financed or leased car or a newer car you can't afford to replace.

Age	State minimum	50/100/50, liability only	100/300/100, $500 deductibles
65	$597	$775	$2,274
70	$647	$831	$2,410
75	$719	$917	$2,620

Read our methodology

While car insurance for seniors isn’t nearly as expensive as for other groups, notably teens, it’s higher than for people in their 50s, who have the safest record on the road."Seniors have experience driving, so it is not comparable to teens," says Janet Ruiz, director of strategic communications at the Insurance Information Institute. "Many companies do have safe driving courses for seniors to alert them to the specific things they may encounter as they age. Some give a discount if you take the safe driving course, which is usually offered online."

PEOPLE ASK

What is the best and cheapest car insurance for seniors?

The most affordable company for seniors is Erie Insurance, or Travelers for national carriers. Additionally, Travelers also ranks as the best car insurance company for seniors overall.

Car insurance for seniors by state

Car insurance rates for seniors vary by state. Compare the average rates in your state below.

State	Average monthly rates	Average 6-month rates	Average annual rates
Alaska	$172	$1,031	$2,061
Alabama	$157	$939	$1,878
Arkansas	$197	$1,185	$2,369
Arizona	$185	$1,110	$2,219
California	$237	$1,420	$2,840
Colorado	$245	$1,467	$2,935
Connecticut	$208	$1,249	$2,498
Washington, D.C.	$265	$1,593	$3,186
Delaware	$227	$1,360	$2,720
Florida	$292	$1,753	$3,506
Georgia	$218	$1,310	$2,620
Hawaii	$143	$860	$1,721
Iowa	$159	$951	$1,902
Idaho	$135	$812	$1,623
Illinois	$139	$835	$1,669
Indiana	$135	$811	$1,623
Kansas	$177	$1,063	$2,127
Kentucky	$225	$1,347	$2,694
Louisiana	$322	$1,934	$3,867
Massachusetts	$166	$995	$1,990
Maryland	$177	$1,063	$2,126
Maine	$132	$794	$1,589
Michigan	$229	$1,372	$2,743
Minnesota	$184	$1,104	$2,207
Missouri	$175	$1,050	$2,101
Mississippi	$180	$1,083	$2,165
Montana	$189	$1,135	$2,270
North Carolina	$213	$1,276	$2,552
North Dakota	$148	$890	$1,781
Nebraska	$180	$1,078	$2,155
New Hampshire	$128	$767	$1,534
New Jersey	$223	$1,337	$2,673
New Mexico	$191	$1,145	$2,291
Nevada	$263	$1,580	$3,159
New York	$219	$1,316	$2,632
Ohio	$129	$774	$1,548
Oklahoma	$199	$1,193	$2,387
Oregon	$144	$864	$1,729
Pennsylvania	$177	$1,060	$2,121
Rhode Island	$229	$1,377	$2,754
South Carolina	$181	$1,084	$2,167
South Dakota	$190	$1,141	$2,281
Tennessee	$161	$964	$1,927
Texas	$195	$1,172	$2,344
Utah	$176	$1,054	$2,109
Virginia	$143	$859	$1,719
Vermont	$114	$684	$1,369
Washington	$172	$1,035	$2,070
Wisconsin	$150	$902	$1,804
West Virginia	$188	$1,127	$2,253
Wyoming	$160	$960	$1,920

Car insurance discounts for seniors

Allstate offers the largest discount percentage for seniors at 16%, but even with the discount, it’s not the most affordable company; a 65-year-old driver will pay $467 a month with Allstate after the discount. GEICO has the lowest rate for a 65-year-old driver with the senior discount at $185 a month; USAA is the cheapest if you qualify.

Most states have laws that require insurance companies to offer senior drivers a discount if they complete a defensive driving course to sharpen their skills. Ask about this discount and compare rates from top companies below.

Company	Average annual premium, 65-year-old	Annual premium after discount	Dollar Savings	Percentage Savings
Allstate	$3,002	$2,536	$467	16%
Farmers	$2,754	$2,402	$351	13%
GEICO	$2,009	$1,824	$185	9%
Nationwide	$2,182	$1,973	$209	10%
Progressive	$2,219	$1,981	$238	11%
State Farm	$2,587	$2,321	$265	10%
Travelers	$1,925	$1,675	$250	13%
USAA	$1,462	$1,361	$101	7%

Read our methodology

How to find cheap insurance rates if you’re a senior citizen

Daniel Ferrara, owner of Ferrara Insurance Group, has several suggestions for getting the best rates as a senior driver:

Bundle your auto and home insurance with the same carrier for a multi-policy discount.
Take a defensive driving course. Even if you have a clean driving record, you’ll likely get about 10% off your rates.
Raise your deductibles on the collision and comprehensive portions of your coverage.
Ask about senior citizen discounts or a low mileage discount. Even though rates tend to increase as you get older, some carriers offer a senior citizen discount.
Consider usage-based insurance for a discount. After monitoring your driving habits for some time, you'll earn a discount of as much as 30%.
Buy a newer car. "Newer cars have many benefits for seniors with automated driving assistance features, backup cameras, etc. IIHS Safety ratings are often considered by insurance companies when putting together the cost of the auto policy,” the Insurance Information Institute’s Ruiz says.
Ask about low-mileage discounts or consider pay-per-mile insurance. Perhaps you have retired, and you're driving a lot less. "Driving fewer miles means you have less road time, resulting in a lower risk of getting into an accident," Ruiz says. "Most insurers ask for yearly mileage to give a lower rate to drivers who are on the road less."

Why do auto insurance rates for seniors go up?

Car insurance companies base rates on the level of risk a driver poses to them. If statistics show you are in a group more likely to file a claim, you'll pay more for auto insurance. Mature drivers have experience but also start to see a decline in vision, response time and other things that affect driving skills.

Statistically, the risk of an accident and the severity of the injuries in that accident go up after age 65. As a result, insurers charge higher rates.

Expert Advice

Daniel Ferrara

Emeritus Sales Rep for Liberty Mutual, based out of Katonah, N.Y.

“Car insurance rates tend to rise as drivers get older because insurance carrier statistics prove that older drivers get into more accidents as their reflexes get slower. Drivers' reactions’ time slow as they age,” Ferrara says. “What age do rates go up? That varies from carrier to carrier but generally, it is around age 64.”

Methodology

We partner with Quadrant Information Services to field average car insurance rates across all 50 states and Washington, D.C. Rates were fielded for drivers aged 65, 70 and 75 years.

Averages are based on our full coverage data set. This data set is based on: