Cheapest car insurance for seniors in 2022
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Senior drivers may find their insurance needs are changing, especially if they have purchased a new car or recently retired. Car insurance rates also tend to increase after you turn 70, which may make it harder to find the right coverage for your budget. Finding cheap car insurance for seniors may take some work, but Bankrate is here to make it easier. We compared dozens of carriers to help you get the best senior car insurance rates for the coverage you need.
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Compare auto insurance rates
Save on auto insurance with quotes from trusted providers like:
Drivers switch & save an average of $750+/year
Are you overpaying for auto insurance?
Safe drivers choose Allstate®
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.
- Senior car insurance rates may be cheapest through Auto-Owners, USAA, Geico, Erie or Farmers.
- Erie and Geico show the smallest increase for seniors after a speeding ticket.
- For seniors with a DUI, Progressive and Mercury may show the least impact on car insurance rates.
- Geico and USAA may be the best car insurance choice for seniors with less than perfect credit.
What are the cheapest car insurance companies for seniors?
Our research found that Auto-Owners, USAA, Geico, Erie and Farmers may offer the cheapest car insurance for seniors on average. These carriers were determined using several variables, including average annual quoted premium, coverage offerings and discount opportunities for seniors, financial strength and third-party rankings for customer satisfaction.
When searching for cheap auto insurance for seniors, consider your specific coverage needs and ideal auto insurance budget. You can use these specifications to narrow down the best cheap car insurance rates for seniors. In all U.S. states, except Hawaii and Massachusetts, insurers typically consider multiple rating factors, like age, driving record, claims history and whether they have had continuous insurance coverage as part of their basis for senior car insurance rates.
| Insurance company | Bankrate Score | Average annual minimum coverage premium | Average annual full coverage premium |
|---|---|---|---|
| Auto-Owners | 4.2 | $386 | $1,289 |
| USAA | 5 | $398 | $1,260 |
| Geico | 4.7 | $404 | $1,377 |
| Erie | 4.6 | $489 | $1,340 |
| Farmers | 3.8 | $521 | $1,456 |
Cheapest company overall for seniors drivers: Auto-Owners
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Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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 70-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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Cheapest auto insurance companies for seniors by driving record
The cheapest auto insurance for seniors is usually reserved for those with clean driving records. Seniors tend to be especially susceptible to accident risk on the road, as older age could lead to vision and physical impairments, including slower reaction time. Drivers 70 and older are more likely to be involved in fatal car accidents than those aged 35 to 54, with as many as 20 seniors dying in fatal accidents and nearly 540 injured in car accidents daily.
Car insurance rates for seniors with a speeding ticket
Regardless of your age, being convicted of a speeding ticket can cause your car insurance rates to increase. The rate increase after a speeding ticket can vary widely by carrier, as shown in the table below. Any additional infractions on your driving record could also result in a higher-than-average rate increase, such as if you were to get another ticket in a short timeframe. Seniors with a speeding ticket should anticipate a rate increase and practice safe driving habits to avoid any other infractions to their driving record to get the best senior car insurance rates.
| Insurance company | Bankrate Score | Average annual full coverage premium after a ticket | Percent increase in premium price after a ticket |
|---|---|---|---|
| USAA | 5 | $1,362 | 8% |
| Erie | 4.6 | $1,387 | 3.5% |
| Auto-Owners | 4.5 | $1,398 | 8.5% |
| State Farm | 4.7 | $1,471 | 10.2% |
| Geico | 4.7 | $1,482 | 7.6% |
Cheapest company for senior drivers with a speeding ticket: USAA and Erie
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Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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 70-year-old male and female driver with 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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Incidents: Rates were calculated by evaluating a clean record (base) with a single speeding ticket applied.
Car insurance rates for seniors with a DUI
Of all driving infractions, a DUI conviction typically increases car insurance rates the most. A DUI is a serious offense, with consequences that extend more than just higher auto insurance premiums. Depending on your state, you may also incur fines or jail time for driving under the influence. Additionally, not all companies will insure a driver with a DUI, so it’s important to check with an insurance agent representing the company.
| Insurance Company | Bankrate Score | Average annual full coverage premium after a DUI | Percent increase in premium price after a DUI |
|---|---|---|---|
| USAA | 5 | $1,787 | 41.8% |
| Progressive | 4.4 | $1,802 | 16% |
| Erie | 4.6 | $1,813 | 35.3% |
| State Farm | 4.7 | $1,814 | 35.9% |
| Mercury | 4.2 | $1,858 | 17.6% |
Cheapest company for senior drivers with a DUI: USAA and Progressive
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Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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 70-year-old male and female driver with 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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Incidents: Rates were calculated by evaluating a clean record (base) with a single DUI conviction applied.
Car insurance rates for seniors with an at-fault accident
When you cause an accident, your rates may reflect an at-fault accident rate increase. How much your car insurance increases depends on the carrier and your recent driving history and the type of at-fault accident. Senior drivers with accident forgiveness may see less of an increase with their current insurer because of the accident, but may lose their safe driving discounts. The following companies offer the cheapest senior car insurance rates after an at-fault accident, although Erie and Auto-Owners show the least premium increase.
| Insurance Company | Bankrate Score | Average annual full coverage premium after an accident | Percent increase in premium price after an accident |
|---|---|---|---|
| Erie | 4.6 | $1,451 | 8.3% |
| Auto-Owners | 4.5 | $1,489 | 15.5% |
| USAA | 5 | $1,501 | 19.1% |
| State Farm | 4.7 | $1,552 | 16.3% |
| Nationwide | 4.4 | $1,569 | 17.5% |
Cheapest company for senior drivers with an at-fault accident: Erie
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Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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 70-year-old male and female driver with 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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Incidents: Rates were calculated by evaluating a clean record (base) with a single at-fault accident applied.
Average car insurance rates for seniors by credit tier
Seniors may be surprised to know that their credit based insurance score could affect how much you pay for car insurance, in many states. Seniors with excellent credit tend to experience the most affordable average car insurance rates, while those with poor credit will typically pay higher rates. This is because drivers with lower credit scores have been found to file more claims. However, credit is not a permitted rating factor in California, Hawaii, Massachusetts or Michigan.
| Insurance Company | Poor | Average | Good | Excellent |
|---|---|---|---|---|
| Auto-Owners | $2,235 | $1,397 | $1,289 | $1,124 |
| Erie | $2,136 | $1,426 | $1,340 | $1,201 |
| Farmers | $2,017 | $1,538 | $1,456 | $1,365 |
| Geico | $1,585 | $1,378 | $1,377 | $1,292 |
| USAA | $1,789 | $1,285 | $1,260 | $1,165 |
Cheapest company for senior drivers with poor credit: Geico
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Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all 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 70-year-old male and female driver with 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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit the use of credit-based insurance scores as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.
Car insurance discounts for seniors
Adding car insurance discounts is one way seniors may be able to get cheap car insurance rates. The amount of savings can vary by carrier and policy, but consider asking about these discounts to see if you are eligible:
- Low mileage: Drivers who are retired or no longer commute to work may have an annual mileage that is below the national average of 13,000 miles. Some insurers offer discounts for having low annual mileage due to the decreased risk of accidents and claims.
- Bundling home and auto: Insuring both your home and car with the same carrier may offer the greatest discount on your policy.
- Vehicle safety equipment: The more safety features your car has, like anti-lock brakes, airbags and anti-collision technology, the lower your rate may be.
- Safe driving: Drivers who maintain a clean driving record by avoiding tickets and accidents may be able to save with this discount.
How to get cheap car insurance as a senior
Senior citizens may be able to get cheap car insurance by following these steps:
- Take a defensive driving course. In some states with approved defensive driving courses, car insurance carriers will offer a discount to seniors over 55 who complete one. You may want to check with your insurance company to see if this discount is an option before taking the course.
- Review your driving status. If you’re no longer commuting for work, updating your driving status to pleasure-driving rather than a commuter may save you money due to the lower mileage.
- Consider your mileage. If you don’t plan to drive much, you may be able to save with pay-per-mile insurance, which means you pay by usage and mileage rather than a flat rate.
- Ask about discounts. Just like any other age group, seniors could take advantage of stackable discounts to maximize their car insurance savings, depending on their insurer.
- Shop around. Shopping around with different carriers may offer you more savings than you’re getting with your current insurer. Just be sure to compare the same coverage types and limits to get a true comparison before switching carriers.
Frequently asked questions
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The best car insurance company for seniors will depend on their needs, age (in most states), driving record, claims history and other factors. For instance, some of the best car insurance options for seniors could come from carriers like Allstate, Geico, The Hartford or USAA. Shopping around and comparing coverage options, available discounts and the price can help you find the best carrier with the lowest rates on coverage.
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With the many factors that go into determining car insurance rates, the cheapest car insurance for seniors can vary. The best way to find the cheapest senior car insurance rates is to get quotes from several carriers to compare premiums. Those on a particularly tight budget may want to consider low income auto insurance for seniors from carriers in their area.
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Whether seniors should carry full or minimum coverage car insurance depends on a few factors. If you own a newer car, especially if it is financed or leased, you may have full coverage lender requirements to satisfy loan conditions. However, if you own an older car that you can afford to replace out of pocket if totaled in an accident, you may be able to drop comprehensive and collision coverage. It’s important to talk with your insurance agent or company before adjusting your coverage, though. An dmost insurance experts recommend buying enough liability insurance to cover your assets.
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