It is hard to pin down the cost of car insurance due to the number of variables that can affect the rate. However, age is one of the most significant factors. How much is car insurance for a 60-year-old? Car insurance for 60-year-old drivers averages $1,544 per year, the lowest average of all age groups including teens, 20-, 30- and 40-year-olds.
Cheapest car insurance for 60 year old drivers
Based on Bankrate’s findings, years of driving experience pay off in the form of lower premiums. Some insurance carriers provide better rates to older, experienced drivers. Out of the most popular carriers by market share, the cheapest car insurance for 60-year-old drivers on average are the following:
| Car insurance company | Average annual premium for full coverage |
|---|---|
| USAA | $1,798 |
| Erie Insurance | $1,847 |
| Geico | $2,064 |
| Auto Owners | $2,075 |
| State Farm | $2,102 |
USAA
USAA’s rate for older drivers is the lowest of all five carriers, averaging $1,798 per year. The main drawback is USAA car insurance is only available for former and current military personnel and qualifying family members. Discounts for senior adults include safe driver, defensive driving training and length of USAA membership. Taking advantage of all the available discounts can help you reduce the cost of coverage each year.
Erie Insurance
Erie Insurance is a good alternative for older adults who don’t qualify for USAA membership. Rates are close to USAA’s at $1,847 per year on average. Full car insurance includes extras you may not find elsewhere, such as roadside assistance and locksmith service (up to $75 per event). The main drawback to Erie is availability — the carrier only operates in 12 Midwestern and Northeastern states.
Geico
Geico has the most discounts of all the insurance carriers on this list. If you’re a good driver with an accident-free driving record with no claims in the last five years, Geico will lower your premiums by up to 22%. In addition, drivers over 50 are automatically signed up for Geico’s Prime Time contract that may guarantee car insurance renewal as long as you remain with Geico.
Auto Owners
Auto Owners Insurance’s rates for drivers in their sixties is $2,075 per year. The carrier’s Personal Automobile Plus package takes the guesswork out of car insurance by bundling 10 of the most popular options into a package, such as vehicle re-keying, identity theft protection and smartphone insurance. In addition, bundling car insurance with an Auto Owners life insurance policy can reduce your premiums on both.
State Farm
Enrolling in State Farm’s Drive Safe and Save program by downloading the mobile app could qualify you for discounts on your premiums based on your driving habits and the number of miles you drive. In addition, State Farm’s website and mobile app are available 24/7 when you need to manage your coverage. But if you’re not as comfortable handling your insurance needs digitally, State Farm has 19,000 local agents ready to help you with your insurance needs the traditional way.
Cost of car insurance for a 60-year-old
Another primary factor that affects the average cost of car insurance for 60-year-old drivers is location. Some states are more expensive for vehicle coverage than others. Each state’s car insurance requirements affect the cost of insurance based on how much coverage you need to legally drive.
Florida and Michigan are among the most expensive places for car insurance because they’re no-fault states — each driver must pay for their own medical bills, regardless of fault, forcing drivers to buy PIP insurance in addition to liability insurance.
| State | Average annual premium for full coverage |
|---|---|
| ALABAMA | $1,559 |
| ALASKA | $1,491 |
| ARIZONA | $1,440 |
| ARKANSAS | $1,726 |
| CALIFORNIA | $1,991 |
| COLORADO | $1,808 |
| CONNECTICUT | $1,469 |
| DELAWARE | $1,611 |
| DISTRICT OF COLUMBIA | $1,773 |
| FLORIDA | $2,400 |
| GEORGIA | $1,887 |
| HAWAII | $1,216 |
| IDAHO | $1,009 |
| ILLINOIS | $1,339 |
| INDIANA | $1,189 |
| IOWA | $1,102 |
| KANSAS | $1,538 |
| KENTUCKY | $1,988 |
| LOUISIANA | $2,600 |
| MAINE | $792 |
| MARYLAND | $1,655 |
| MASSACHUSETTS | $1,176 |
| MICHIGAN | $2,342 |
| MINNESOTA | $1,510 |
| MISSISSIPPI | $1,561 |
| MISSOURI | $1,545 |
| MONTANA | $1,673 |
| NEBRASKA | $1,319 |
| NEVADA | $2,064 |
| NEW HAMPSHIRE | $1,046 |
| NEW JERSEY | $1,683 |
| NEW MEXICO | $1,341 |
| NEW YORK | $2,142 |
| NORTH CAROLINA | $1,341 |
| NORTH DAKOTA | $1,136 |
| OHIO | $1,023 |
| OKLAHOMA | $1,694 |
| OREGON | $1,265 |
| PENNSYLVANIA | $1,474 |
| RHODE ISLAND | $1,724 |
| SOUTH CAROLINA | $1,350 |
| SOUTH DAKOTA | $1,489 |
| TENNESSEE | $1,223 |
| TEXAS | $1,703 |
| UTAH | $1,225 |
| VERMONT | $967 |
| VIRGINIA | $1,165 |
| WASHINGTON | $1,095 |
| WEST VIRGINIA | $1,405 |
| WISCONSIN | $1,069 |
| WYOMING | $1,329 |
Car insurance rates by gender
The average cost of car insurance for 60-year-old female drivers is generally lower than a male driver of the same age. The difference is small but is based on historical accident statistics. Insurance companies consider female drivers safer than male drivers.
| Average annual premium for 60 year old male | Average annual premium for 60 year old female | % difference |
|---|---|---|
| $1,552 | $1,537 | 0.98% |
How 60-year-old drivers can save on car insurance
Older drivers who are close to (or at) retirement age are typically on a fixed income. Taking the time to find savings on car insurance may give your budget some breathing room. A few ways older drivers may be able to lower their premiums include:
- Loyalty discounts based on length of time with a carrier
- Automatic payments
- Low-mileage
- Bundling car, home and life insurance
- Driver training course
Frequently asked questions
What is a driver training course?
Insurance companies typically have a list of approved online driving courses. They can usually be completed in roughly eight hours and can reduce your car insurance premiums for up to three years.
What is the average cost of car insurance for 60-year-old drivers?
Car insurance for 60-year-old drivers averages $1,544 per year. Actual prices depend on several factors such as gender, state and driving record.
What are the cheapest car insurance companies for older drivers?
The cheapest car insurance companies for 60-year-old drivers are USAA, Erie, Geico, Auto Owners and State Farm. To find the best rate, get quotes to compare from all five carriers.
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 20-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Rates were calculated by evaluating our base profile with the ages 18-60 (base: 60 years) applied.
Share