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The best car insurance for 60-year-olds

The national average annual premium for a 65-year-old, which is around $1,185, 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.  

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Written by Elizabeth Rivelli

Reviewed by Alyssa DiCrasto

Last updated: January 26, 2023

How much is car insurance for 60-year-olds?

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. 

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 $1,185.

These are the average rates by state for a single 65-year-old male driving a 2022 RAV4. 

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: 

  • Location 
  • Credit score (in some states) 
  • Driving record 
  • Insurance claim history 
  • Policy types 
  • Policy limits 
  • Deductibles 

What is the best car insurance company for 60-year-olds?

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. 

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. 

Company Average Annual Premium
Nationwide 1,236
State Farm 1,238
Geico 1,310
Auto-Owners Insurance 1,348
Progressive 1,372
Travelers 1,513
Allstate 2,050
Safeco Insurance 2,426
Farmers 2,427

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. 

Cheap car insurance for 60-year-olds

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What are the types of car insurance for 60-year-olds drivers?

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: 

  • Bodily injury liability: When you cause an accident, your bodily injury liability insurance pays for the other driver’s medical bills if they get injured. 
  • Property damage liability: If you cause an accident and the other driver’s vehicle is damaged, your property damage liability insurance pays for the repairs. 

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. 

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: 

  • Collision insurance: Collision insurance pays for your vehicle’s repairs after an accident you cause. 
  • Comprehensive insurance: Comprehensive insurance pays for your vehicle’s repairs after a non-collision incident, such as vandalism, weather damage, theft, or damage from falling objects. 
  • Gap insurance: If you lease or finance your vehicle and it gets totaled, gap insurance pays the difference between the car’s diminished value and what you owe. 
  • Accident forgiveness: Accident forgiveness waives your first at-fault accident, so it doesn’t impact your car insurance premium. 
  • New car replacement insurance: New car replacement coverage provides a higher payout if you total your vehicle, so you can buy a new one of a similar make and model.  
  • Roadside assistance: Roadside assistance pays for basic roadside car repairs, like flat tire changes, fuel delivery, a new battery, and towing up to a certain mileage.

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Car insurance discounts for 60-year-old drivers

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: 

  • Take advantage of discounts: Many car insurance companies offer discounts. While the exact discounts are unique to each company, you can often find savings for being claim-free, insuring multiple vehicles, bundling your policies, and having safety features in your car, like antilock brakes and an antitheft device. 
  • Raise your deductibles: For policies that have a deductible, increasing the deductible will help lower your monthly premium. For example, if you currently have a $500 deductible for collision and comprehensive insurance, increasing the deductible to $1,000 will result in a lower rate. However, be sure that you will still be able to pay your deductible out-of-pocket in case you need to make a claim.  
  • Pay your premium in full: Many insurance providers will give you a small discount on your premium if you pay annually, upfront, and in full, rather than in monthly installments.  
  • Take a defense driver course: Drivers can often get a discount for completing an approved defensive driver course. However, some insurance companies only offer this discount to drivers over a certain age. 

Why shop for car insurance once you turn 60?

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. 

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. 

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. 

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. 

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. 

Methodology

The rates on this page are estimated based on the rating plans insurance carriers have submitted to each state’s department of insurance. An insurance carrier’s rating plan details how the company uses certain characteristics to assign different rates to different people. We use the same data sources to power our comparison tools.

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 2022 RAV4. We adjusted this profile by age to determine the rates you see on this page. 

These rates should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile. 

About Rate Retriever

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 

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. 

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.  

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.