The Best Auto Insurance for Seniors

The Best Auto Insurance for Seniors

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

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Despite years of experience and safe driving, insurance companies tend to view senior drivers as riskier compared to middle-aged drivers and raise their rates accordingly. Sixty-five years old has become the standard age at which one becomes a senior citizen, as the Social Security Administration and Medicare both deem it as the average retirement age. Although drivers in their 50s and 60s tend to be charged a similar amount for car insurance, rates increase as they age into their 70s and 80s.

The average cost of car insurance for a 65-year-old is $2,539, or around $212 per month for a full coverage policy The cheapest insurer that is most widely available for 65-year-olds is GEICO.

We have compared auto insurance rates for seniors by gender, state and cheapest insurer. We also offer tips on how to keep auto insurance costs low. Compare insurance quotes across multiple insurers to find your best insurance rates.

What is the best car insurance company for those over 65?

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

The best overall pick for auto insurance for seniors: GEICO

Cheap rates and designated senior coverage make GEICO the best auto insurer for senior drivers.
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GEICO's combination of cheapest rates and guaranteed renewal policies, for qualifying individuals, make it the best choice for senior drivers. Specifically designed for older drivers, GEICO offers a guaranteed auto insurance renewal program to drivers over 50 years old called a Prime Time contract. Drivers will always have the option to renew their insurance policy as long as they are GEICO policyholders, regardless of driver age, claims or traffic violations. Many older drivers are considered high risk, and this contract protects them from being dropped by their insurance company. However, this contract does not guarantee that your rates will stay the same.

The cheapest insurer for low-mileage drivers: Metromile

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

The best for military members and veterans: USAA

If you're an active or retired service member, USAA offers the most affordable auto insurance for you and your family.
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USAA is the cheapest auto insurer for seniors. However, you are only eligible to apply if you are a service member, veteran or family member. While its affordability is a stand-out, USAA's customer service is one of the best in the auto industry.

The best for senior drivers who travel: State Farm

Affordable insurance quotes and unique rental and travel coverage options make State Farm the best auto insurance for seniors who travel.
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Many older drivers find time to travel in retirement. State Farm offers car rental and travel expenses coverage. Its rental car reimbursement will fit the bill for a replacement while your car is in the shop. If you have an accident more than 50 miles from home that is covered by collision and comprehensive insurance, your travel expenses will be covered as well, including meals, lodging and transportation. A trip to pick up your vehicle is also covered.

The best for customer service and discounts for senior drivers: Allstate

Allstate's considerable discount offerings and fantastic customer service make it a great pick for senior drivers.
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Allstate's customer service was only beat out by USAA, which is exclusive only to its military members. However, this fantastic customer service does come at a cost. Allstate may not offer the cheapest base rates — as demonstrated by our survey of quotes — but it does feature great discounts, including a responsible payer discount, a FullPay discount and a Safe Driving Club.

How much is auto insurance for seniors?

The average 65-year-old pays $2,539 a year for car insurance. Car insurance rates for drivers steadily increase after the age of 65, as drivers become more high-risk.

AgeAverage annual premium
65$2,539
75$2,945
85$3,606

Drivers see a significant increase from 65- to 75-years-old, spending an additional $400 annually. Eighty-five-year-old seniors, the riskiest drivers, see an increase of over $660 a year compared to 75-year-olds.

We analyzed this average by collecting thousands of quotes for a sample policy in the 10 biggest states in the country.

Car insurance rates for senior men and women

Car insurance rates for senior men and women are fairly similar. Women pay an average of $36 more per year than men at age 65. However, we see a shift where women are paying slightly less than men at ages 75 and 85.

AgeAnnual premium - maleAnnual premium - female
65$2,511$2,547
75$2,958$2,870
85$3,661$3,488

Certain states prohibit gender-based insurance pricing. For example, there will be no difference in pricing between genders if you live in California, Hawaii, Massachusetts, parts of Michigan, Montana, North Carolina or Pennsylvania.

Cheapest car insurance for seniors by state

We analyzed the average cost of car insurance for seniors in the 10 biggest states and noted the cheapest insurer in each state.

Ohio has the cheapest auto insurance for senior citizens, while car insurance premiums in Michigan are considerably more expensive.

StateAverage senior insurance premium
Ohio$1,419
North Carolina$1,468
Pennsylvania$1,604
Illinois$1,629
California$1,787
Texas$1,940
Georgia$2,270
New York$2,701
Florida$3,756
Michigan$6,820

We also found the cheapest insurer for 65-year-olds in each of the top 10 states. For example, the best car insurance in Florida for seniors was GEICO. GEICO and USAA were the cheapest options in every top state, excluding Ohio. However, USAA is an insurer that is exclusively available to those who are active or retired from the military and their family members.

The cheapest car insurance company for senior drivers in the 10 biggest states

StateCompanyAverage annual premium
CaliforniaGEICO$1,383
FloridaGEICO$1,853
GeorgiaUSAA$1,237
IllinoisUSAA$1,051
MichiganUSAA$2,174
New YorkUSAA$1,388
North CarolinaGEICO$1,047
OhioState Farm$979
PennsylvaniaUSAA$748
TexasUSAA$1,100

How seniors can find cheap insurance rates

Though auto insurance rates will typically go up when you are over 65 years old, you will also gain new coverage and discount options. Seniors citizens shopping for auto insurance should consider a variety of factors, including premiums, discounts and whether an insurer can offer a renewal guarantee. There are many ways to keep your auto insurance costs low.

Change your driver status

After 65, many drivers are starting to think about retirement. Most insurers will give you 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 reevaluate how many miles you'd be driving in retirement.

Take a defensive driving course

Drivers 55 and older can receive auto insurance discounts for seniors by taking a defensive driving course. Drivers over the age of 55 can take a defensive driving course to receive premium auto insurance discounts for seniors. Some of these classes can be taken online from the comfort of your own home, while others are offered in person.

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

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 will vary depending on state and neighborhood. So, consider comparing quotes from multiple insurers to find your best rates.

Methodology

This analysis used insurance quotes for thousands of ZIP codes in the 10 biggest states in the U.S. Our sample drivers were 65-year-old men and women who had a clean driving record, with no accidents or traffic violations, and drive a 2015 Honda Civic EX. The policy used was a full coverage policy, including liability, comprehensive and collision insurance. Limits and deductibles are listed below.

Coverage typeStudy limits
Bodily injury liability$50,000 per person/$100,000 per accident
Property damage$25,000 per accident
Uninsured/underinsured motorist bodily injury$50,000 per person/$100,000 per accident
Comprehensive and collision$500 deductible
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

Mark is a Senior Research Analyst for ValuePenguin focusing on the insurance industry, primarily auto insurance. He previously worked in financial risk management at State Street Corporation.

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.