The Best Cheap Car Insurance for Seniors in July 2024

The best car insurance for seniors blends affordability, customer service and financial stability. Rates typically begin to increase when you turn 65, as insurance companies consider seniors slightly riskier to insure than other adult drivers.

The best car insurance for seniors is offered by Travelers, costing an average of $1,015 per year for a full coverage policy. For those with budget in mind, State Farm provides the most affordable rates for the same policy, at an average of $819 per year.

Although USAA ranks highly as the best and cheapest car insurance company for seniors, it is only available to active military members, veterans and their families.

For this study, we analyzed the national averages for a full coverage policy of 100/300/100 with a $1,000 deductible for drivers aged 65. We used a weighted ranking system detailed in our methodology to determine the best car insurance providers.

Finding the best car insurance rates for seniors is not a one-size-fits-all process. Each car insurance company evaluates drivers based on their personalized factors — your age, location, vehicle type, driving history and credit-based insurance score. Therefore, getting customized quotes from several companies is important for finding the cheapest car insurance available.

We ranked the best car insurance for seniors by age and listed the average monthly and annual premiums for each national provider in the table below.

For many aging adults, retirement is an important phase of life where they can live comfortably without receiving a regular paycheck. While retiring may not directly affect your car insurance premiums, it can change your lifestyle or the type of insurance you seek. For instance, decreased driving from no longer going to work can reduce your premium.

If you plan to travel by driving during retirement, note that travel can increase both your annual mileage and car insurance rates. But if you intend to store your vehicle while you travel, consider getting a storage plan or lower coverages. It’s inadvisable to cancel your policy as your rates may increase due to a lapse in coverage.

Because insurance is regulated by states, how much you’ll pay for car insurance may vary based on your location. Furthermore, the cheapest car insurance for seniors may be different in your state than the cheapest option at the national level.

Use the table below to find the most affordable provider for full coverage or minimum coverage policy by state. Our car insurance comparison tool can help you compare your preferred insurers and determine which is better suited to your needs.

Having a DUI, DWI or OWI on your record will adversely affect your car insurance rates for an unspecified period. For seniors with a DUI on their driving record, State Farm offers the lowest car insurance rates for most drivers. A full coverage policy from State Farm costs approximately $94 per month or $1,129 per year.

While USAA does offer the cheapest rates for a senior driver with a DUI, this insurer only provides policies to those who are eligible for those a military association.

The table below shows how national providers stack up for the best and cheapest providers for a senior with a DUI on record. Learn more about how we determine the best providers in our methodology.

Having a recent traffic citation on your record — or several tickets over the years — can increase your car insurance costs. Our analysis found that State Farm offers the cheapest car insurance for seniors with a ticket, costing an average of $77 per month or $925 per year for full coverage.

USAA is the least expensive provider for seniors with a ticket, but its policies are only available to military families.

The table below shows how national providers stack up for the best and cheapest providers for a senior with a ticket on record. Learn more about how we determine the best providers in our methodology.

According to the Insurance Institute for Highway Safety, Highway Loss Data Institute, drivers aged 70 and above have higher accident frequency per mile than middle-aged adults.

For seniors with an accident on record, State Farm is the least expensive car insurance provider. On average, a full coverage policy costs $84 per month or $1,004 per year.

The table below shows how national providers stack up for the best and cheapest providers for a senior with an accident on record. Learn more about how we determine the best providers in our methodology.

Many car insurance companies offer veteran-specific discounts. For instance, GEICO provides a military discount of up to 15% for active-duty military members, veterans or reserve military members. Liberty Mutual also has a military discount for active, reserve or retired military members. Meanwhile, Farmers offers an affinity discount to active duty, active reserves, and honorably discharged veterans. Ask your insurer about veteran discounts that may apply to you.

Overall, USAA consistently ranked as the best car insurance provider for senior veterans and their families, costing an average of $994 per year.

Senior car insurance coverage ranges from basic liability car insurance coverage, usually required by state law to full coverage car insurance for damages and expenses for both you and the other driver if you are at fault. Full coverage also protects you when it comes to damage to your car not sustained in a car accident and theft. How much coverage you need depends on your circumstances, but full coverage with higher maximum limits could protect your nest egg.

Common coverage is 100/300/100 with a $1,000 deductible. 100/300/100 is shorthand for $100,000 per person, $300,000 per accident in bodily injury liability and $100,000 per property damage liability. A deductible is an amount you have to pay out of pocket for an insurance claim.

The best car insurance option for you depends on your situation and needs, including your vehicle type, income, savings and more. If you’re looking to save money, reducing your coverage or raising your deductible could result in lower car insurance premiums.

The table below shows the average rates for a 65-year-old driver. State minimum represents state minimum policy rates averaged across states.

For the most part, drivers in the middle-age brackets typically have the lowest car insurance rates, but there are ways to lower your premium after turning 55. While it may be time-consuming to implement some of these steps, the savings could be worth it when you find cheap car insurance for senior citizens.

• Shop around for a new policy: Companies continually change how they evaluate drivers; therefore, when you’re ready to renew your policy, always shop around with at least three companies to get personalized quotes. Switching car insurance companies could help you save.
• Update your driver status: If you haven’t updated your policy in a while, double-check the “listed drivers.” Removing people who no longer drive your vehicle from your policy could reduce your rates.
• Take a defensive driver class: Many car insurance companies offer discounts for drivers who complete a certified defensive driver class. Check with your car insurance company for recommended courses.
• Choose a cheaper car to insure: Car insurance companies evaluate risk based on the type of vehicle you have, so choosing a less risky car — say, a four-door sedan rather than a sports car — could result in significant premium savings.
• Increase your deductible: If you have the financial means to pay a higher car insurance deductible if you file a claim, you could reduce the amount of your premium.
• Bundle your insurance coverage: Most car insurance companies offer multi-car and multi-policy discounts if you insure more than two vehicles or purchase both your car and homeowners insurance from the same company.
• Add protective technology: Many car insurance companies offer discounts if your car contains safety features like a car alarm or airbags.
• Apply discounts: Most car insurance companies offer various discounts, ranging from safe driver discounts for good driving history to discounts for automatic premium payments. Many companies also now offer discounts based on your driving habits, monitored using technology installed on your car and your smartphone.
• Pay in full: While monthly payments have a lower upfront cost, many insurance providers offer discounts that range from 5-10% for paying for a policy in full.

Older adults have unique needs when it comes to auto insurance. Learn the answers to frequently asked questions about car insurance to help you find the best deal to meet your needs.