Insurers can take into account age in determining whether to increase or decrease car insurance premiums. This is common in most states. Drivers in the middle of the pack may be eligible for the highest rates, based on their age.
Some car insurance companies offer discounts to mature drivers to maximize their savings.
When choosing the best insurance provider for seniors, we looked at car insurance companies as well as available discounts and insurance products. Different J.D. The National Association of Insurance Commissioners has provided us with power satisfaction ratings and complaints.
These are the top insurance companies for seniors drivers.
The best for seniors drivers: Geico
Why Geico is different than the rest: Geico offers car insurance discounts for those 50 years and older. Drivers who are eligible can receive a defensive driving discount and a five year good driving discount. There is also a retired government discount and military discount. You may be eligible to receive even greater savings if you are a member one of the hundreds of partner organizations of Geico.
Accident forgiveness is also offered by the company. This waives the premium rate rise after the first at fault accident. Geico scored slightly more than the industry average in J.D. The satisfaction study on power auto claims also included Geico.
What you need to know about Geico’s auto insurance
Geico offers standard auto insurance coverage nationwide, including liability, comprehensive, collision and uninsured/underinsured motorist, and offers various additional coverages, such as …
- Roadside assistance coverage for an emergency — Towing and battery jump start services.
- Insurance for mechanical breakdown — Covers repairs if your vehicle experiences mechanical problems or requires replacement parts
- Insurance for medical payments — Covers the costs associated with an automobile accident.
- Personal Injury Protection — Covers your lost wages, medical treatment and other accident-related expenses regardless of who caused it.
Geico also offers a Prime Time Contract that guarantees policy renewal every year and is available for drivers over 50 in certain states. You must not have any drivers younger than 25 years old and you must not have been involved in any violations or accidents during the past three years to be eligible.
Read more in Geico auto insurance reviews.
The Hartford is the best for seniors drivers who are AARP members.
Why the Hartford might be a good option for drivers who are AARP members:AARP advocates for people 50 years and older. It has almost 38 million members. The Hartford offers a number of exclusive benefits to AARP members. This includes a 10% discount just for being a member. These benefits are only available to AARP members over 50 who have an AARP membership card.
What you need to know about The Hartford
The Hartford provides lifetime car repair assurance to AARP members. This is designed to help you locate a reliable repair service after a claim. AARP members can also get new car replacements if their car is damaged in an accident. The replacement will be the exact same make and model as the original, with no deductions or depreciation. Your AARP membership includes The Hartford’s RecoverCare. This provides $2,500 for transportation, cooking, and cleaning costs in the event of an accident.
The Hartford is available across most states. It offers standard car insurance coverage, as well as additionals such as car towing and personal umbrella insurance. Membership in AARP is required to be eligible for key benefits. It costs $12-$16 per year.
Learn more about auto insurance at The Hartford
For senior drivers who have a military affiliation, USAA is the best:
Why USAA might be a good option for older drivers who have a military affiliation. USAA offers discounts and benefits to military personnel. Membership is available to veterans, current military personnel, their spouses, and children. USAA offers a variety of discounts that can help you save money, regardless of your age. Drivers who live in eligible states are eligible to receive up to 30% savings through USAA SafePilot, the company’s safe-driving program.
What do you need to know about USAA?
J.D. Power ranked USAA as one of the top-rated insurance companies. According to J.D. Power’s 2021 study on auto claims satisfaction, USAA was ranked as one of the top insurance companies. USAA auto insurance is available to all who are eligible and provides standard coverage options such as liability, collision, comprehensive and rental car reimbursement.
Review USAA auto insurance reviews.
Best for low-mileage senior drivers: Nationwide
Why Nationwide might be a good option for low-mileage drivers. Seniors who no longer commute to work may have a lower mileage than the average. SmartMiles, a usage-based program that pays per mile, is offered by Nationwide. After the first renewal, you will receive a flexible rate based on your driving habits and a 10% discount to ensure safe driving.
What do you need to know about Nationwide?
Nationwide offers a discount on deductibles in addition to standard coverage options such as collision, comprehensive, and liability. Nationwide’s “Vanishing Deductible”, coverage lowers your deductible up to $100 per year for safe driving. It also provides accident forgiveness which can help you avoid a rate increase for the first violation or at fault accident.
SmartMiles may be an excellent choice for low-mileage older drivers. Nationwide was ranked below the average for the industry in the 2021 J.D. Nationwide scored four points lower than the industry average in the 2021 J.D. satisfaction study on power auto claims. In Alaska, Hawaii and Louisiana, Nationwide is not offered.
How did we choose these insurers
We considered policy options, availability, discounts, and looked at both large and medium-sized insurance providers to arrive at our ratings. J.D Power studies were also considered. These included satisfaction with auto claims and customer satisfaction. We also included NAIC data to compare each company’s total complaints with a national index.
FAQs regarding car insurance for older drivers
Is car insurance more expensive for seniors?
Insurance costs may rise due to certain factors. The first is that older drivers are more likely to be involved in an accident than younger drivers. Drivers 70 years old and older may sustain more serious injuries in an accident. Insurance companies may have to pay a lot of money for these injuries, which could result in expensive hospital bills. Car insurance companies may increase premiums to cover these potential costs. To ensure that you are not paying excessive monthly premiums for older drivers, it is important to shop around and compare rates.
What can seniors drivers do to lower their insurance rates?
To keep your rates low, there are some things that every driver can do, regardless of their age. You may also be eligible for a lower rate by enrolling in a usage-based program.