The Best and Cheapest Car Insurance Companies for Seniors
State Farm offers the best overall car insurance for seniors, but Geico has the cheapest average rates for seniors, at $122 per month for full coverage.
Find Cheap Car Insurance Quotes for Seniors
While senior drivers often pay more for car insurance as they age, you can find ways to save by comparing quotes or qualifying for defensive driver or mature driver discounts.
On this page
Cheapest car insurance for seniors
Geico has the cheapest car insurance for most seniors, at an average of $122 per month for full coverage and $64 per month for minimum coverage.
Find Cheap Car Insurance Quotes in Your Area
Monthly car insurance quotes for seniors
Company | Full cov. rate | Min cov. rate | |
|---|---|---|---|
| Geico | $122 | $64 | |
| State Farm | $152 | $90 | |
| Travelers | $263 | $160 | |
| Allstate | $423 | $320 | |
| USAA* | $264 | $178 |
*USAA insurance is only available for active-duty military members, veterans and their families.
Source: Rates are based on quotes for drivers ages 65, 75 and 85 across hundreds of ZIP codes. See methodology.
Senior drivers should also consider comparing rates from State Farm. Full coverage insurance from State Farm costs $30 more per month than Geico, and minimum coverage costs $26 more per month.
Rates will differ based on your driving history, where you live, the car you drive and the coverage options you choose. That’s why it's important to compare car insurance quotes from several insurance companies while you shop around.
What is the best car insurance for seniors?
State Farm is the best car insurance company for most senior citizens. However, other companies can still be a good fit for you depending on your needs, location, driving history and current financial situation. No one company is best for everyone.
Best overall auto insurance for seniors: State Farm
-
Monthly rate$152This analysis used full coverage insurance quotes for hundreds of ZIP codes across Florida. Read our methodology.
-
J.D. Power881J.D. Power customer satisfaction scores are out of 1,000, with higher scores being better.
-
AM BestA++AM Best's financial strength rating is a letter grade describing an insurer's financial ability to pay out claims. The highest grade is A++.
Cheapest car insurance for seniors: Geico
-
Monthly rate$122This analysis used full coverage insurance quotes for hundreds of ZIP codes across Florida. Read our methodology.
-
J.D. Power871J.D. Power customer satisfaction scores are out of 1,000, with higher scores being better.
-
AM BestA++AM Best's financial strength rating is a letter grade describing an insurer's financial ability to pay out claims. The highest grade is A++.
Best company for low-mileage drivers: Nationwide
-
J.D. Power876J.D. Power customer satisfaction scores are out of 1,000, with higher scores being better.
-
AM BestA+AM Best's financial strength rating is a letter grade describing an insurer's financial ability to pay out claims. The highest grade is A++.
Best auto insurance with accident forgiveness: Progressive
-
J.D. Power622J.D. Power customer satisfaction scores are out of 1,000, with higher scores being better.
-
AM BestA+AM Best's financial strength rating is a letter grade describing an insurer's financial ability to pay out claims. The highest grade is A++.
Best car insurance for add-on perks: AARP auto insurance
-
J.D. Power869J.D. Power customer satisfaction scores are out of 1,000, with higher scores being better.
-
AM BestA+AM Best's financial strength rating is a letter grade describing an insurer's financial ability to pay out claims. The highest grade is A++.
Best insurance for veterans and their families: USAA
-
Monthly rate$264This analysis used full coverage insurance quotes for hundreds of ZIP codes across Florida. Read our methodology.
-
J.D. Power739J.D. Power customer satisfaction scores are out of 1,000, with higher scores being better.
-
AM BestA++AM Best's financial strength rating is a letter grade describing an insurer's financial ability to pay out claims. The highest grade is A++.
How much is auto insurance for seniors?
The average cost of car insurance for a 65-year-old is $137 per month for a minimum coverage policy and $171 per month for a full coverage policy. These rates will go up as you age, because insurance companies view older drivers as riskier to cover.
For example, 75-year-old drivers pay 13% more than 65-year-old drivers for full coverage car insurance, while 85-year-olds pay 46% more, on average.
Monthly car insurance rates for seniors by age
Age | Minimum coverage | Full coverage |
|---|---|---|
| 65 | $137 | $171 |
| 75 | $153 | $194 |
| 85 | $198 | $249 |
Cheapest car insurance for seniors with tickets or accidents
Geico has the cheapest car insurance for seniors after a speeding ticket, with an average rate of $121 per month for full coverage.
State Farm is the cheapest option for seniors who have caused an accident, at $180 per month for full coverage, on average.
Cheapest insurance companies
Find Cheap Car Insurance Quotes in Your Area
Drivers who have a ticket or who have been at fault in an accident usually pay higher rates for car insurance than other drivers. Seniors who are pulled over for speeding are likely to see increases of 9% to their car insurance rates. Accidents tend to raise the cost of coverage by much more — seniors could pay 44% more for coverage after an accident.
Monthly full coverage quotes after an incident
Company | Ticket rate | Crash rate | |
|---|---|---|---|
| Geico | $121 | $188 | |
| State Farm | $166 | $180 | |
| Travelers | $356 | $340 | |
| Allstate | $423 | $373 | |
| USAA* | $264 | $676 |
*USAA insurance is only available for active-duty military members, veterans and their families.
Best car insurance discounts for seniors
Many car insurance companies offer discounts on senior car insurance that can help you save on your monthly rates. The discounts vary by company, but most offer at least one of them.
- Defensive driving discounts: Most insurance companies limit which courses qualify for these sorts of discounts. Ask your insurance company about defensive driving courses in your area and see how much you could save.
- Bundle discounts: Most insurance companies offer discounts if you buy more than one policy with them. Consider moving your home insurance to the same company that you use for car insurance if they have a discount for it.
- Safety feature discount: Your insurance company may give you a discount on coverage if you buy a car that has enhanced safety features like lane departure warning, side-view cameras and impact prevention sensors.
- Accident-free discount: Your insurance company might lower your rate if you haven't had an accident in several years. If it doesn't, you might be able to get a discount and a lower cost with a different company.
How to get cheap car insurance for seniors
The best way to get cheap car insurance for seniors is to compare quotes from several companies side by side.
Comparing quotes lets you see what company offers the best rates for the coverage you need. You can also compare coverage add-ons and discounts.
- Use discounts. Most seniors can save on car insurance by taking advantage of the discounts that a company offers. You can probably save the most by bundling your auto and home insurance, but you might also save by signing up for an approved safe driving course, insuring multiple cars or driving fewer miles each year, which can be easy if you're not commuting to work.
- Pay in full. If you can afford to pay the full six-month or annual cost for your car insurance policy, you'll usually get a discount. If you set up the payment to automatically come out of your bank account or charge to your card, you might be able to save even more.
- Review your add-ons. Some optional coverages are genuinely useful, but you might find that you have some that you don't need. For example, you might not need rental car coverage if you have another car you can use if yours is in the shop after an accident. And if you have separate roadside assistance through a program like AAA, you probably don't need to pay for that same coverage on your car insurance.
- Drive safely. Save driving won't lower your rate right away, but it can help you avoid accidents and tickets that will increase your rate in the long run.
Frequently asked questions
Who has the cheapest car insurance for senior citizens?
Geico has the cheapest car insurance for seniors, whether you just turned 65 or are in your 80s. A minimum coverage policy from Geico costs an average of $64 per month, while full coverage from Geico averages $122 per month.
What is the best car insurance company for senior citizens?
State Farm offers the best car insurance for most senior citizens. It combines affordable coverage with high-quality customer service. Full coverage costs an average of $152 per month from State Farm, and minimum coverage averages $90 per month.
Does State Farm offer a senior discount?
State Farm does not offer a senior discount for car insurance. However, it has many other discounts that senior drivers can take advantage of, including savings for defensive driving courses, safe driving, vehicle safety features and bundling policies.
Does auto insurance go down when you retire?
Auto insurance rates do not automatically go down when you retire. However, retirees who no longer commute might save money on their car insurance by taking advantage of low-mileage discounts or switching to pay-per-mile insurance.
Does car insurance go up after age 80?
Yes, car insurance often gets more expensive after age 80. An 85-year-old driver pays 28% more than a 75-year-old, based on our analysis.
Methodology
This analysis used insurance quotes for hundreds of ZIP codes across Florida. ValuePenguin compared rates for three drivers, ages 65, 75 and 85. Our experts also checked how having a clean driving record, one speeding ticket or one at-fault accident would affect a senior's rates.
Minimum coverage rates are based on the required limits in Florida. The full coverage policy used for this survey included liability, comprehensive and collision insurance. Rates for drivers with prior incidents are for a full coverage policy. Limits and deductibles are listed below.
Full coverage car insurance limits
- Bodily injury liability: $50,000 per person, $100,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured and underinsured motorist bodily injury: $50,000 per person, $100,000 per accident
- Personal injury protection: $10,000
- Comprehensive and collision: $500 deductible
About the Author
Senior Writer
Licensed Insurance Agent
Cate Deventer is a Senior Writer who specializes in health insurance, Medicare, auto and home insurance. She's been a licensed insurance agent since 2011.
She started her insurance career working as a customer service agent for State Farm. She later moved to an independent agency, where she worked with several insurance companies and hundreds of clients. She quoted policies, filed claims and answered insurance questions. In 2021, she pivoted her career and began writing about insurance for Bankrate. She moved to ValuePenguin in 2023 and began writing about health insurance and Medicare.
Cate has a passion for helping readers choose insurance to fit their needs. She enjoys knowing that her research and knowledge help people choose insurance products that make a positive difference in their lives.
How insurance helped Cate
Cate used her health insurance knowledge to navigate a surgery in 2023. Understanding how her policy worked let her focus on recovery instead of worrying about bills.
Expertise
- Health insurance
- Medicare & Medicaid
- Auto insurance
- Home insurance
- Life insurance
Credentials
- Licensed Life, Accident & Health Insurance Agent
- Licensed Property & Casualty Insurance Agent
Referenced by
- CBS
- NBC
- Wall Street Journal
Education
- BA, Theatre, Purdue University
- BA, English, Indiana University
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
