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Car insurance for seniors
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New stages of life often come with new financial concerns and priorities. Depending on the state you live in, you may find your auto insurance premiums increasing as you enter your 70s. Many carriers increase rates for seniors based on driving risks associated with aging, but not all carriers put the same emphasis on age when calculating rates. If you're concerned about finding the right car insurance as a senior, Bankrate may be able to help. Our insurance editorial team analyzed average premiums, discounts and coverage options for seniors from dozens of carriers with the goal of helping you find the coverage you need at a reasonable price.
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Best auto insurance for seniors
Bankrate’s insurance editorial team obtained average premiums from Quadrant Information Services for dozens of auto insurance companies. However, we know that the best car insurance companies for seniors don't only offer low rates. We also analyzed coverage types, discounts, digital tools, financial strength ratings from AM Best and customer satisfaction scores from J.D. Power. These factors all contributed to each company's assigned Bankrate Score, out of 5 points.
If you are looking for the best car insurance for seniors, you might start with quotes from these five carriers:
| Car insurance company | Bankrate Score | Average annual full coverage premium for 70-year-olds | J.D. Power score |
|---|---|---|---|
| Geico | 4.4 | $1,434 | 874/1,000 |
| Amica | 4.4 | $1,801 | 903/1,000 |
| USAA* | 4.3 | $1,398 | 890/1,000 |
| The Hartford | 3.9 | $1,940 | 869/1,000 |
| Allstate | 3.8 | $2,449 | 889/1,000 |
*Not officially ranked by J.D. Power due to eligibility restrictions
Geico
Geico is one of our 2023 Bankrate Award winners for Best Auto Insurance Company Overall, in part due to its low rates and long list of potential discounts. Seniors with good driving records might qualify for Geico’s Prime Time contract, which ensures automatic policy renewal for life, provided they meet the terms of the program. Other discounts that may help seniors save include membership and employee discounts, military discounts and the DriveEasy telematics program. Geico's home and life insurance policies are underwritten by third-party companies, which may be a drawback for shoppers who prefer to handle all their insurance needs with a single carrier.
Learn more: Geico Insurance review
Amica
Amica is our second Bankrate Award winner for Best Auto Insurance Company Overall. Seniors who value customer service may be interested in Amica. The carrier earned the top spot in J.D. Power's 2022 Auto Claims Satisfaction Study and offers a long list of endorsements for drivers looking to build a more robust car insurance policy. Potential policy add-ons include free lock replacement if you lose your car keys, roadside assistance, gap insurance and rental car reimbursement.
Learn more: Amica Insurance review
USAA
USAA offers some of the cheapest average premiums for seniors on our list, but coverage is only available to active-duty and retired military members and their families. USAA consistently scores highly with J.D. Power for customer satisfaction, and policyholders may be able to help their children save on a USAA policy with a family discount. Endorsement options include roadside assistance and rental car reimbursement. USAA does not have local agents available for face-to-face service, which may be a drawback for drivers who prefer to work with an in-person insurance agent.
Learn more: USAA Insurance review
The Hartford/AARP
You must be an American Association of Retired Persons (AARP) member in order to get an auto insurance policy through The Hartford. The Hartford’s auto insurance policies may not be the cheapest on our list, but the insurer provides exclusive senior auto insurance benefits. These include RecoverCare, which may reimburse you for the expenses of household services you can’t complete because of a covered auto accident injury. Drivers with hybrid or electric cars may also be interested in The Hartford's alternative fuel discount. The Hartford did score below the industry average for claims satisfaction with J.D. Power, so potential policyholders may want to speak with existing customers about their experience.
Learn more: The Hartford Insurance review
Allstate
Although Allstate has high average premiums for seniors, the company received a strong claims satisfaction score from J.D. Power and boasts an A+ (Superior) financial strength rating from AM Best. Policyholders may save with Allstate's Deductible Rewards program, which reduces your collision deductible for every year without an accident. Safe drivers may also earn a Safe Driving Bonus for every six months without an accident. Allstate's endorsement options are limited, but it does offer classic car insurance, rideshare coverage and rental car reimbursement.
Learn more: Allstate Insurance review
How much is auto insurance for seniors?
On average, 70-year-old drivers pay $1,986 per year for full coverage car insurance. This is lower than the national average cost of car insurance, which is $2,014 per year for full coverage. For minimum coverage, 70-year-old drivers pay an average of $652 annually, just slightly above the $622 annual national average.
However, keep in mind that car insurance rates are based on more than a dozen individual rating factors. Your rates may be higher if you have accidents or speeding tickets on your record, if you drive a luxury or sports car or if you live in an area with high instances of extreme weather or theft, among other reasons.
How seniors can save on car insurance
If your rates have started to increase as you enter your 70s, you may be looking for ways to save on your car insurance. Fortunately, there are a few strategies you could try to potentially bring down your premium:
- Shop around: Every insurance company has its own algorithms for calculating rates, you may find lower or higher rates for the same coverage selections from different carriers. Requesting and comparing quotes from a handful of carriers may help you narrow down which one can offer you the lowest rates for your circumstances.
- Maintain a clean driving record: Your driving record is a key metric used by car insurance companies to determine your rates. Avoiding accidents and tickets may help keep your rates down and even potentially offset age-related premium increases.
- Evaluate your coverage selections: If you've recently retired, you might be driving substantially less than you used to. Reviewing your stated annual mileage and coverage selections may help you ensure you have the right amount of coverage in place and aren't overpaying for insurance. Speaking with a licensed insurance agent may help you secure better rates.
Car insurance discounts for seniors
Most car insurance companies offer at least a few discounts to help eligible drivers save on their premium. Although carriers do not offer specific age-related discounts, they may offer discounts for drivers of a certain age who complete a defensive driving course or remain with the company for a specific number of years. Looking for applicable discounts when you compare quotes may help you choose the cheapest car insurance company. You might also consider reviewing your chosen carrier's discounts each year to see if you qualify for any new savings opportunities. Some common discounts you may find include:
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-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 coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Bankrate Scores
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.