The Best and Cheapest Auto Insurance Companies for Seniors

The Best and Cheapest Auto Insurance Companies for Seniors

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The best overall car insurance for most seniors is State Farm, and the company with the cheapest rates for seniors is Geico.

If you're a senior driver, finding the best insurance means securing great customer service at the right price.

While the cost of insurance usually increases for seniors as they get older, you can find ways to save by utilizing mature driver discounts and taking defensive driving courses.

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Cheapest car insurance for seniors

Geico offers the cheapest insurance for most seniors. A minimum-coverage policy from Geico costs $763 per year, while full-coverage insurance costs $1,463 per year, on average.

Graph comparing car insurance costs for seniors by company
Currently insured?
Company
Minimum coverage
Full coverage
Geico$763$1,463
State Farm$1,075$1,827
Travelers$1,925$3,151
USAA*$2,141$3,162
Allstate$3,842$5,072

*USAA insurance is only available for active duty military members, veterans and their families.

Senior drivers should also consider comparing rates from State Farm. Minimum-coverage insurance from State Farm is an average of $26 more per month than Geico, and full-coverage insurance costs $30 more per month.


Rates vary based on your driving history, where you live, the car you drive and the coverage options you choose, so it's important to shop for quotes from multiple insurance companies.

What is the best car insurance company for seniors?

The best car insurance company for senior citizens varies based on several factors, including location, driving history and current financial profile. No one insurer is best for everyone. However, we have compiled the best insurers for seniors based on a certain type of experience.

Best overall auto insurance for seniors: State Farm

State Farm's cheap rates, national availability and dependable customer service make it the best pick for most seniors.
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State Farm isn't the cheapest insurance provider for seniors, but it does offer some of the most affordable rates across all of the driver profiles that we analyzed. Combined with the range of discounts the company offers for safe driving, safe vehicles and loyal customers, most budget-conscious seniors are likely to find rates from State Farm more affordable than other providers.

State Farm offers excellent customer service along with a wide range of products offered by State Farm make it a great choice for seniors looking to bundle policies. It offers a multiproduct discount for those who also purchase a home, condo, renters, farm, life or health insurance policy.


Cheapest car insurance for seniors: Geico

Geico has the lowest rates for most senior drivers.
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Geico has the most affordable car insurance rates for seniors. The company also offers a guaranteed auto insurance renewal program called the Prime Time contract. The program is available to drivers over the age of 50 who meet certain criteria and guarantees that your policy won't be canceled, even if you receive multiple traffic violations.

Seniors can expect to receive average customer service from Geico — the company earned average scores on both the J.D. Power claims satisfaction study and NAIC Complaint Index. Geico does underwrite its homeowners insurance policies and offers fewer additional products than its competitors, which means that seniors looking to bundle policies may want to consider other insurers.


Cheapest insurer for low-mileage drivers: Nationwide

Nationwide's pay-per-mile plan is the best for seniors who may find themselves driving less after retirement.
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Nationwide's SmartMiles program is best for seniors who find themselves away from the wheel more often than not. Premiums are calculated on a per-mile basis, which makes it a cheaper option for seniors who may be driving far less frequently after retirement.


How much is auto insurance for seniors?

The average cost of car insurance for a 65-year-old is $1,646 per year for a minimum-coverage policy and $2,057 per year for a full-coverage policy. However, rates are likely to increase as the policyholder ages. This is because insurers view older drivers as riskier to cover.

We found that 75-year-old drivers pay 12% more than 65-year-old drivers, while those 85 years old pay 44% more for full-coverage car insurance, on average.

Age
Minimum coverage
Full coverage
65$1,646$2,057
75$1,830$2,329
85$2,371$2,989

Compare rates

Cheapest car insurance for seniors with prior incidents

Drivers who have received a ticket for a traffic violation 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. We found that seniors could pay 44% more for coverage after an accident.

Graph comparing rates for seniors with a speeding ticket or accident on record
Currently insured?
Company
Annual rate with a speeding ticket
Annual rate after an accident
Geico$1,463$2,261
State Farm$1,991$2,156
USAA$3,162$4,091
Travelers$4,275$4,471
Allstate$5,072$8,107

Rates were calculated based on a full-coverage policy.

How seniors can find cheap insurance rates

Though auto insurance rates typically go up for drivers older than 65, you may also gain new coverage and discount options. Senior citizens shopping for auto insurance should consider a variety of factors, including prices, discounts and whether an insurer can offer a renewal guarantee. There are many ways to keep your car insurance costs low.

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Change your driver status

After 65, many drivers start to think about retirement. Most insurers offer a discount when you change your driving status from "commuter" to strictly driving for pleasure. This means the miles you drive every year will be greatly reduced, which can save you significant money. When you get a quote online, you can select "leisure" and evaluate how many miles you'll be driving in retirement.

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Take a defensive driving course

Drivers 50 and older can receive a government-mandated auto insurance discount for seniors by taking a defensive driving course in participating states. The eligible age, as well as the discount amount, varies by state. Some of these classes can be taken online from the comfort of your home, while others are offered in person.

You can also get senior discounts on auto insurance by taking courses through companies like AAA and AARP. Most courses cost around $20. Remember, the discount amount will depend on where you live and your insurance provider.

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Shop around for senior coverage and discounts

At certain auto insurance companies, seniors can get discounts as they get older. For example, The Hartford, in partnership with AARP, offers car insurance for seniors, as well as special features for policyholders over the age of 50. If you plan on moving in retirement, it's important to remember that car insurance premiums vary depending on state and neighborhood. So compare quotes from multiple insurers to find your best rates.


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Frequently asked questions

Who has the cheapest car insurance for seniors?

Geico has the lowest auto insurance rates for seniors. A minimum-coverage policy from Geico costs an average of $763 per year, while full-coverage averages $1,463 per year.

What is the best car insurance company for senior citizens?

State Farm offers the best car insurance for senior citizens. It combines affordable coverage with high-quality customer service, and our editors awarded it 4.5 out of 5 stars.

Does State Farm offer a senior discount?

State Farm does not offer a senior discount. However it has many discounts available for senior drivers to take advantage of, including a defensive driving discount, safe driving discounts, vehicle safety discounts and bundling discounts.

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 can save money on their car insurance by taking advantage of low-mileage discounts or switching to a pay-per-mile insurance plan.

Does car insurance go up after age 80?

Car insurance rates begin to increase starting at age 55. We found that rates increase by 13% between ages 65 and 75, and 85-year-old drivers pay 28% more than 75-year-old drivers.

Who has the best auto insurance for seniors?

If you want top-tier customer service that's still affordable, we suggest State Farm. But if you prioritize the lowest rates, we recommend Geico.

Who has the cheapest auto insurance for seniors?

Geico has the cheapest car insurance for seniors of all ages, whether you just turned 65 or are in your 80s.

Methodology

This analysis used insurance quotes for thousands of ZIP codes across Florida. We compared rates for three drivers, ages 65, 75 and 85. We also checked how having a clean driving record, one speeding violation and one at-fault accident would affect a person's premiums.

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 were calculated based on a full-coverage policy. Limits and deductibles are listed below.

Coverage type
Full coverage limits
Bodily injury liability$50,000 per person/$100,000 per accident
Property damage liability$25,000 per accident
Uninsured/underinsured motorist bodily injury$50,000 per person/$100,000 per accident
Personal injury protection$10,000
Comprehensive and collision$500 deductible

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.