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- Car insurance for seniors: What you need to know
Car insurance for seniors: What you need to know
Senior drivers often face unique challenges (and benefits!) when shopping for car insurance. A driver's age can affect premiums, discounts, and coverage needs.
To help you navigate car insurance for seniors citizens, we'll dig into the average car insurance rates for seniors, tips on saving money on car insurance as a senior citizen, and 3 easy ways to get auto insurance for drivers age 50+.
Key takeaways
- Drivers between 50-69 years old are often seen as experienced and responsible, which can lead to lower insurance rates.
- Senior citizens 70 and over may be viewed as higher-risk drivers, but shopping around can still help them find low-cost car insurance.
- To save, seniors should explore discounts, bundle policies, and take advantage of safe driver programs.
As we age, our driving habits, coverage needs, and eligibility for car insurance discounts can change. That's why it's crucial to regularly review your car insurance options--especially if you're over 70. Whether you're looking to update your current policy or trying to find cheaper car insurance options as a senior driver, we'll help you learn more about finding the best protection that's right for you.
Are car insurance rates higher for senior drivers?
Just how much you'll pay for car insurance as a senior driver depends on several factors. Despite decades of driving experience and good driving habits, some insurance companies increase car insurance cost for seniors, particularly after age 70. For example, in the table below, you'll find that a 70-year-old driver may pay around $2,623 a year for full coverage car insurance and $843 for minimum coverage car insurance.
On the other hand, because many senior citizens drive fewer miles, tend to avoid risky driving conditions, and take defensive driving courses to maintain their skills, some insurers may offer lower rates to drivers over who are over 55 years old. The good news is that retirees can still secure competitive rates by comparing car insurance quotes from various insurers and taking advantage of available discounts.
How much is car insurance for seniors?
According to Bankrate, here's what you can expect to pay on average1 for car insurance as a senior:
| Age | Annual Premium Average - Full Coverage | Annual Premium Average - Minimum Coverage |
|---|---|---|
| 50 years old | $2,516 | $765 |
| 60 years old | $2,425 | $750 |
| Over 70 years old | $2,623 | $843 |
How to lower car insurance rates as a senior driver
We've rounded up eight ways to secure the most affordable car insurance for seniors!
- Bundle your policies. Combining car insurance with your home, condo, or renters insurance is a great way to experience lower rates as a senior driver.
- Ask about discounts for older drivers. Many insurers provide discounts on car insurance for seniors. Be sure to find out what you may qualify for!
- Consider usage-based insurance. Many insurance companies offer pay-per-mile or usage-based car insurance so if you don't drive very often, this can be a great option for lowering car insurance rates as a senior driver.
- Maintain a clean driving record. Avoiding traffic violations and staying accident-free helps to keep premiums low. At Liberty Mutual, our RightTrack program rewards drivers who practice good driving habits with an instant 10% discount when you enroll. Once you complete the programs, you could save an additional 30% on your car insurance as a senior driver!
- Drive less often. If you're retire or drive fewer miles than you used to, ask your insurer about a low-mileage discount.
- Increase your deductibles. Raising your car insurance deductible is a quick way to lower your premiums.
- Compare car insurance quotes. Because insurers rate age-related risks differently, get at least three quotes so you can select the best car insurance as a senior citizen.
- Take a defensive driving course. Many insurance companies offer car insurance discounts of 5% to 15% to seniors who complete ta specific safety course.
5 car insurance discounts for seniors
Five of the most common car insurance discounts offered by many insurance companies for seniors may include:
- Mature driver discount for reaching a certain age, typically 55 or older.
- Low mileage discount for driving fewer miles as a senior citizen.
- Defensive driving course discount for completing an approved driving test.
- Senior organization membership discount for belonging to retirement groups, such as AARP.
- Retired military or government employee discount for senior drivers who are retired service members or government employees.
What's the best car insurance for seniors?
When selecting car insurance as a senior driver, prioritizing affordability, coverage options, and customer support is key. Look for auto insurance policies that offer senior discounts, low-mileage savings, and usage-based programs, as many drivers over 70 tend to drive less frequently.
In addition, look for flexible coverage plans that reward safe driving habits and insurers with strong customer service and efficient claims processing, ensuring reliable assistance when needed. Finally, compare car insurance quotes from multiple providers and carefully review policy details to find the right balance of cost and protection.
2 easy ways to get car insurance as a senior citizen
- Get a quote for auto insurance online at Liberty Mutual.
- Call for an auto insurance quote, so our representatives can walk you through the process: 1-844-349-8391.