In this guide, we’ll explain how older drivers can find the best car insurance for senior citizens, and what to look for when shopping for a senior car insurance policy.
The average cost of car insurance for individuals age 65-80 is between $1,185-1,550.
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Last updated: January 23, 2023
As of 2020, there were nearly 48 million licensed drivers over the age of 65 in the United States. Senior drivers who own a registered vehicle are legally required to carry car insurance in almost every state, regardless of their age, the type of car they have and how frequently they drive.
Because most people over the age of 60 continue to drive for many years, it’s important to choose the right car insurance company and policy. The best car insurance for seniors is affordable and provides adequate protection for the driver’s personal coverage needs.
The cost of car insurance for seniors depends on a variety of factors. On the application, drivers are required to submit information that is used to calculate their unique premium. Some of the biggest factors that affect car insurance rates for seniors include:
At age 65, drivers pay on average around $1,185. However, older drivers tend to pay higher rates for car insurance. By age 72, the average sits around $1,310, and by age 80 this climbs to around $1,550.
Around age 60, you’ll be paying the least amount for your car insurance than at any other point in your life, assuming you have a good driving record and avoid lapses in coverage.
Here are the average rates in each state for a 65-year-old male driving a 2022 RAV4.
Now, take a look at the average rates for the same profile by company. This list only considers companies that cover a large portion of the US. It’s a great idea to compare rates from local companies as well.
| 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 |
By age 70, you may notice that your rates are starting to increase slowly, even if your driving record and vehicle remain the same.
Below are the average rates in each state for a 72-year-old male driving a 2022 RAV4.
Now, take a look at the average rates for the same 72-year-old organized by company. This list only includes companies that offer coverage in a good portion of the US. It’s a great idea to compare rates from local companies as well.
| Company | Average Annual Premium |
|---|---|
| State Farm | 1,333 |
| Nationwide | 1,376 |
| Auto-Owners Insurance | 1,475 |
| Geico | 1,478 |
| Progressive | 1,519 |
| Travelers | 1,702 |
| Allstate | 2,254 |
| Safeco Insurance | 2,683 |
| Farmers | 2,738 |
By age 80, your rates will likely continue to increase, since most insurance companies see 80-year-olds as higher risk drivers than their slightly younger counterparts. While you probably won’t pay as much as you did when you were younger, there are still affordable options for you.
Here are the average rates in each state for an 80-year-old male with a clean driving record and a 2022 RAV4.
Below are the average rates for the same 80-year-old organized by company. These only consider companies that cover a large portion of the US. It’s a great idea to compare rates from local companies as well.
| Company | Average Annual Premium |
|---|---|
| State Farm | 1,540 |
| Nationwide | 1,688 |
| Geico | 1,720 |
| Auto-Owners Insurance | 1,768 |
| Progressive | 2,087 |
| Travelers | 2,132 |
| Allstate | 2,542 |
| Farmers | 3,189 |
| Safeco Insurance | 3,345 |
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Car insurance is legally required in every state except New Hampshire and Virginia. Each state has its own unique coverage requirements and minimum coverage limits that every licensed driver must carry. All drivers must follow these requirements, no matter their age.
At a minimum, most senior drivers over age 65 must carry personal liability insurance, which includes two parts—bodily injury and property damage liability coverage. These car insurance coverages take effect when a driver causes an accident that results in vehicle damages or injuries to another person.
However, there are a variety of additional coverages that can be beneficial to senior drivers. Here are some coverage options that senior drivers might consider adding to their policy for higher levels of protection:
Because car insurance for older drivers can be expensive, many car insurance companies offer car insurance discounts for seniors. While every car insurance provider offers different discounts (with varying savings potential), here are some of the most common ones that some seniors may be able to qualify for:
Data shows that senior drivers have a higher risk of being injured in a car accident and are more likely to cause accidents than younger drivers. Many age-related factors, such as loss of vision, motor skills and even some medical conditions can increase the likelihood of a crash.
As a result, car insurance companies often charge senior drivers higher rates to offset the increased risk of a claim. When shopping for the best car insurance for elderly drivers, it’s a good idea to get quotes from multiple carriers to see which provider can offer the lowest rate.
The best car insurance is different for everyone, including older drivers. It depends on lots of things, like location, budget, coverage needs and the driver’s personal criteria for what makes an insurer “the best.”
Ultimately, the only way to find the best car insurance for a senior is to shop around and compare providers based on factors like cost, coverage options, discounts, third-party ratings and customer service.
Need help finding the best car insurance for seniors? Take our quick start quiz to find the best car insurance company. In just five questions, you’ll get matched with several reputable providers in your area. Click “get a quote” or call to see how much you will pay and what coverage options are available.
Even if you already have car insurance, it’s a good idea to re-shop for a policy after retirement. If you are no longer commuting to work, it might make sense to drop certain policies not required in your state or lower your policy limits. You may also qualify for new discounts, such as a retired driver discount or other age-based savings.
In addition, shopping for new car insurance policies after retirement could help you find a lower price. It’s recommended to re-shop for car insurance quotes once per year, or after you’ve had a claim or another major life event.
If you find a cheaper rate from another provider, you can cancel your car insurance policy and switch companies. In most cases, you are allowed to switch to a different car insurance provider at any time, even before your policy is up for renewal.
The best way to make sure you get affordable car insurance is to compare car insurance from multiple providers. All insurance companies assess risk differently, so your driver profile will be more attractive than others – resulting in lower rates for you.
When you compare car insurance, we recommend that you also consider the insurance provider’s available discounts, such as low mileage, safe driver, and membership-based discounts. For example, some insurance companies offer cheaper car insurance to AARP members.
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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.
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