The national average annual premium for a 65-year-old, which is around $1,600, and Nationwide, State Farm and Geico are the national providers that give this age group the cheapest rates on average.
To make sure your car insurance meets your current needs, it’s a good idea to shop around for new car insurance policies around your 60th birthday.
In this guide, we’ll explain how you can find good car insurance for 60-year-olds, what policies you should consider, and how to save money on your premium. Â
Our rates are based on public rate filings obtained by analytics company First Interpreter. While we may partner with some of the carriers you see on our site, we maintain editorial independence and it does not affect the rates you see. Read more about our rating methodology or see our rigorous editorial policy.Â
In your 60s, you will enjoy some of the lowest car insurance rates you’ll ever pay, assuming you have a clean driving record and decent credit score.Â
To give you an idea of what you might pay for auto insurance, we can look at the national average annual premium for a 65-year-old, which is around $1,600.
These are the average rates by state for a single 65-year-old male.Â
Annual rates for a male driving a 2023 RAV4, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.Â
But remember that you could pay more or less than average based on your personal driver profile and situation. When you apply for a car insurance quote, some of the criteria that are used to calculate your premium include:Â
Like your rates, the best company for you will depend on several factors including your driver profile, available coverage, and available discounts. It’s a good idea to compare a few different insurance companies to see which one is right for you.Â
To get you started on your search, some national companies that provide cheap rates for individuals in their 60s include: Nationwide, State Farm, Geico, Auto-Owners Insurance, and Progressive.Â
| Company | Average Annual Premium |
|---|---|
| USAA | 1,311 |
| Progressive | 1,337 |
| Nationwide | 1,384 |
| Auto-Owners Insurance | 1,469 |
| Geico | 1,516 |
| Travelers | 1,639 |
| State Farm | 1,687 |
| Farmers | 2,110 |
| Allstate | 2,149 |
Annual rates for a male driving a 2023 RAV4, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.Â
The above rates only consider companies that offer coverage in a large portion of the US. It’s a good idea to also compare local companies who may be able to give you even better rates or discounts.Â
Car insurance is legally required in every state except Virginia and New Hampshire. In these states, drivers have the option to provide alternative proof of financial responsibility. In most states, however, 60-year-old drivers are required to carry personal liability insurance. This policy has two parts:Â
In states that require personal liability insurance, all drivers must carry a minimum amount of bodily injury and property damage liability coverage. However, insurance experts recommend that most drivers purchase more coverage than required, as a minimum coverage policy might not provide enough coverage in the event of an at-fault or no-fault accident.Â
In addition, many 60-year-old drivers can benefit from optional coverages, which provide more financial protection. Here are some of the most common types of car insurance that you can add to your policy:Â
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There are a variety of ways that drivers in their 60s can save money on their car insurance policy. Here are some common ways 60-year-olds get more affordable car insurance:Â
Drivers between the ages of 50 and 60 often experience life changes that can impact their car insurance needs. For example, you might be adding teen drivers to your policy or removing them once they go away to college. Maybe you’re moving to a new state or are thinking about retirement in the coming years.Â
When you turn 60, it’s a good time to shop around for new car insurance policies. Around age 60, your car insurance rates can start to increase. This is because older drivers are more likely to get into accidents and are riskier from an insurance company’s perspective. Your rate may not increase exactly at age 60 but be aware that your premium could increase sometime in the future.Â
To avoid a big rate hike, 60-year-old drivers should think about getting new car insurance quotes from a variety of companies. You might find that another insurance company can offer you a much lower rate than you’re paying now. In addition, you might find that a different insurance provider is a better fit for your current needs.Â
For example, if you’re getting ready to retire, consider looking for insurance companies that provide discounts to retirees, or drivers who use their cars infrequently. If you’re thinking about moving to a new state, get car insurance quotes to see what you can expect to pay in your new location. If you belong to age-based membership groups, like AARP, see if you can take advantage of any insurance discounts.Â
As you start thinking about your car insurance needs, you can take our short survey to find the best insurance carrier for 60-year-olds. Answer a few questions and we’ll match you with highly-rated insurers in your area. Then, you can get quotes and purchase a policy that meets your specific needs.Â
Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive. Â
For the data on this page, we made the following assumptions: a single male with a clean driving record and Good credit score, driving a 2023 RAV4. We adjusted this profile by age to determine the rates you see on this page.Â
These rates are not actual quotes and should be used only for comparative purposes. Your rates can vary significantly based on your unique driver profile.Â
At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results. Â
So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you.Â
Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs. Â
We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide.Â
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