Penny Gusner is a senior insurance writer and analyst at Forbes Advisor. For more than 20 years, she has been helping consumers learn how insurance laws, data, trends, and coverages affect them. Penny enjoys translating the complexities of insurance into easy-to-understand advice and tips to help consumers make the best choices for their needs. Her work has been featured in numerous major media outlets, including The Washington Post and Kiplinger’s.
Penny Gusner
Penny Gusner is a senior insurance writer and analyst at Forbes Advisor. For more than 20 years, she has been helping consumers learn how insurance laws, data, trends, and coverages affect them. Penny enjoys translating the complexities of insurance into easy-to-understand advice and tips to help consumers make the best choices for their needs. Her work has been featured in numerous major media outlets, including The Washington Post and Kiplinger’s.
Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. When Ashlee isn't spreading insurance knowledge or solving television murder mysteries, she enjoys spending time with her family (including the furry and feathery ones) on their farm in Kentucky.
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Ashlee Valentine
Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. When Ashlee isn't spreading insurance knowledge or solving television murder mysteries, she enjoys spending time with her family (including the furry and feathery ones) on their farm in Kentucky.
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Nationwide, USAA, Travelers, Erie, Auto-Owners, Geico and Progressive are the best car insurance companies for seniors, according to our analysis. We evaluated collision claims processes, complaints, costs for drivers age 65 and older and coverage options.
Senior drivers see auto insurance costs increase because of the higher risk they pose, so finding competitive pricing can take some shopping around.
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Show Summary
- Best Car Insurance for Seniors of 2024
- Summary: Best Car Insurance for Seniors
- How Much Is Car Insurance for Seniors?
- Best Car Insurance Rates for Seniors
- Cheap Car Insurance for Seniors by State
- Car Insurance Discounts for Seniors
- Why Do Auto Insurance Rates Increase for Seniors?
- Tips for Senior Car Insurance Buyers
- Methodology
- Best Car Insurance for Seniors Frequently Asked Questions (FAQs)
- Next Up in Car Insurance
Compare Car Insurance Companies
Best Car Insurance for Seniors of 2024
Forbes Advisor’s picks for the best auto insurance for seniors are:
- Nationwide – Best Rates for Senior Drivers
- USAA – Best for Military and Veterans
- Erie – Best for Collision Repair
- Travelers – Best Rates for Low-Mileage Drivers
- Auto-Owners – Best Rates for New Cars
- Geico – Great for Drives With Poor Credit
- Progressive – Best Rates for Drivers With a DUI
Summary: Best Car Insurance for Seniors
| Company | Forbes Advisor Rating | Average annual cost for senior drivers | Collision repair grade | LEARN MORE | ||||
|---|---|---|---|---|---|---|---|---|
| Nationwide |  |
5.0 |  |
$1,402 | C | Compare Rates | Compare rates from participating partners via EverQuote's secure site. | |
| USAA |  |
5.0 | |
$1,455 | C- | Compare Rates | Compare rates from participating partners via EverQuote's secure site. | |
| Erie |  |
4.5 |  |
$1,831 | A- | Compare Rates | Compare rates from participating partners via EverQuote's secure site. | |
| Travelers |  |
4.5 | |
$1,668 | C | Compare Rates | Compare rates from participating partners via EverQuote's secure site. | |
| Auto-Owners |  |
4.0 |  |
$1,813 | B | Compare Rates | Compare rates from participating partners via EverQuote's secure site. | |
| Geico |  |
4.0 | |
$1,793 | C- | Compare Rates | Compare rates from participating partners via EverQuote's secure site. | |
| Progressive |  |
4.0 | |
$1,937 | C | Compare Rates | Compare rates from participating partners via EverQuote's secure site. |
How Much Is Car Insurance for Seniors?
Car insurance for seniors costs an average of $2,150 a year, based on our analysis of rates for drivers age 65 to 80.
Senior car insurance costs varied significantly among the insurance companies we analyzed, with a difference of nearly $1,920 a year between the least and most expensive companies.
Nationwide has the cheapest car insurance for senior drivers, costing an average of $1,402 a year. Nationwide is also a top pick on our list of the best car insurance companies for drivers of all ages.
You’ll likely find that auto insurance rates trend upward around age 65. Our analysis found an average rate increase of 6% for car insurance rates from age 65 to 70. Costs gradually increase until, at age 80, you’re at a relatively large cumulative increase of 31% compared to rates at age 65.
Annual Car Insurance Rate Increases for Seniors
| Age | Average cost per year | Increase in cost compared to age 65 |
|---|---|---|
|
65
|
$1,892
|
|
|
70
|
$2,011
|
6%
|
|
75
|
$2,223
|
17%
|
|
80
|
$2,474
|
31%
|
Best Car Insurance Rates for Seniors
We analyzed rates for drivers ages 65 to 80 to determine which companies have the best car insurance rates for seniors.
Nationwide has the cheapest car insurance for seniors at $1,402 per year or $117 per month. Other cheap companies include USAA at an average of $1,455 per year and Travelers at $1,668 per year, according to our analysis.
| Cheapest car insurance companies for seniors | Average monthly cost | Average annual cost |
|---|---|---|
|
$117
|
$1,402
|
|
|
USAA*
|
$121
|
$1,455
|
|
$139
|
$1,668
|
|
|
$149
|
$1,793
|
|
|
$151
|
$1,813
|
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors Age 65
USAA is the cheapest car insurance company for seniors age 65, costing an average of $1,322 a year or $110 a month, according to our analysis. USAA is available only to customers with a military affiliation. Nationwide is the cheapest auto insurer available to all drivers. Nationwide’s auto insurance costs for a 65-year-old average $1,342 a year or $112 a month.
| Cheapest car insurance companies for 65-year-olds | Average monthly cost | Average annual cost |
|---|---|---|
|
USAA*
|
$110
|
$1,322
|
|
$112
|
$1,342
|
|
|
$115
|
$1,379
|
|
|
$125
|
$1,499
|
|
|
$135
|
$1,615
|
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors Age 75
Nationwide is the cheapest car insurance company for seniors age 75, among the companies in our analysis, with an average cost of $1,534 a year ($128 a month).
| Cheapest car insurance companies for 75-year-olds | Average monthly costs | Average annual costs |
|---|---|---|
|
$128
|
$1,534
|
|
|
USAA*
|
$132
|
$1,581
|
|
$137
|
$1,644
|
|
|
$152
|
$1,819
|
|
|
$154
|
$1,842
|
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors Based on Driving History
Your driving record is one factor that impacts how much you pay for car insurance as a senior driver. If your driving record is clear of accidents and traffic tickets, you’re considered a good driver and will get cheaper auto insurance rates.
If you have an accident, speeding ticket, DUI or other infraction on your driving record, expect to pay more for the next three to five years (depending on the issue).
Cheap Car Insurance for Seniors Who Are Good Drivers
Nationwide has the cheapest full coverage auto insurance rates for seniors age 70 who are good drivers, at an average of $1,410 per year. USAA is also cheap for full coverage at $1,416 per year, but only military members, veterans and their families are eligible for policies with USAA.
USAA is the cheapest company for those buying only minimum coverage, at $413 per year for 70-year-old senior drivers. The second cheapest company for minimum coverage is Erie, coming in at an average of $427 a year.
| Company | Average annual cost of full coverage | Average annual cost of minimum coverage |
|---|---|---|
|
$1,410
|
$683
|
|
|
USAA*
|
$1,416
|
$413
|
|
$1,472
|
$695
|
|
|
$1,623
|
$427
|
|
|
$1,718
|
$604
|
Source: Quadrant Information Services. Full coverage rates are based on liability coverage of 100/300/100 ($100,000 in bodily injury liability per person, $300,000 per accident, and $100,000 in property damage liability) uninsured motorist coverage and collision and comprehensive insurance with $500 deductible. Minimum state rates are based on the minimum amount of auto insurance required in each state. All rates are based on a female driver, age 70, insuring a new Toyota RAV4.
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors With an At-Fault Accident
Erie is the cheapest company for senior drivers age 70 who buy full coverage car insurance and who have an at-fault accident with injury on their driving records, according to our analysis. Erie’s rates averaged $2,161 per year.
USAA and State Farm are also relatively cheap for 70-year-old senior drivers who have caused an accident with injury.
Having an at-fault accident with an injury on your record raises your rates by 56% on average, according to our analysis.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
|
$180
|
$2,161
|
|
|
USAA*
|
$188
|
$2,261
|
|
$194
|
$2,331
|
|
|
$203
|
$2,431
|
|
|
$207
|
$2,482
|
*USAA auto insurance is available only to members of the military, veterans and their families
Cheap Car Insurance for Seniors With a Speeding Ticket
USAA offers the cheapest car insurance for 70-year-old seniors with a speeding ticket, averaging $1,764 a year. Erie has the second-cheapest price of $1,841 a year.
Seniors age 70 with a speeding ticket on their driving records will see an increase in car insurance costs of 29% on average, according to our analysis.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
|
USAA*
|
$147
|
$1,764
|
|
$153
|
$1,841
|
|
|
$161
|
$1,936
|
|
|
$184
|
$2,212
|
|
|
$186
|
$2,228
|
*USAA auto insurance is available only to members of the military, veterans and their families
Cheap Car Insurance for Seniors With a DUI
Progressive has the cheapest average car insurance rate for a 70-year-old driver with a DUI on their record, averaging $2,268 per year.
A DUI is considered a serious offense by auto insurers, so senior drivers with a DUI can expect rates to shoot up. Our analysis found that car insurance rates go up 78% on average for a 70-year-old senior driver who has a DUI conviction.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
|
$189
|
$2,268
|
|
|
$218
|
$2,612
|
|
|
$218
|
$2,618
|
|
|
USAA*
|
$231
|
$2,776
|
|
$236
|
$2,831
|
*USAA auto insurance is available only to members of the military, veterans and their families
Cheap Car Insurance for Seniors by State
The cost of car insurance for seniors varies by state as well as company. Issues like the number of claims in your state, vehicle repair costs and medical costs impact the price of car insurance from one state to the next.
Cheapest Car Insurance Companies by State for Drivers Ages 65 to 80
Car Insurance Discounts for Seniors
Car insurance discounts can help lower the overall price of a senior auto policy. Discounts that may be especially helpful include:
- Defensive driving discount.
- Low-mileage discount.
A defensive driving course can not only get you a discount but also help sharpen your skills on the road. This can help you avoid crashes and the resulting rate increases.
If life has slowed down and you drive less, ask your insurer about a low-mileage discount. There are also pay-per-mile auto insurance programs that may be worthwhile to check out.
How To Get the Best Rates on Car Insurance for Seniors
Shopping around with multiple insurers is key for seniors to get the best auto insurance rates. You can switch car insurance companies at any time, so you can shop for lower prices at any time.
Typically the easiest time to shop around is right before your current policy will renew. You’ll get a renewal notice listing your rates, coverage types and limits, making it easy to shop for the same coverage from other insurers. Make sure your quotes include all of the discounts you’re eligible to receive so that you can compare total prices among companies.
Why Do Auto Insurance Rates Increase for Seniors?
Auto insurance rates increase for seniors because car insurance companies find this age group of drivers are more likely to have accidents and file claims.
Teenagers and seniors typically pay more for car insurance than other drivers, all else being equal, when you average auto insurance rates by age. (Note that age is not a factor in setting auto rates in California, Hawaii and Massachusetts due to state laws.)
Auto insurance rates begin to increase as you reach age 65. Senior drivers are far more experienced on the road than teens, but age-related physical and mental changes can make it more challenging to be a safe driver.
The main age-related issues that can cause seniors to have trouble driving include declining vision and cognitive abilities, muscle disorders and changes in general physical fitness. Medication and its side effects can also increase risk by affecting concentration and impairing driving abilities—and this leads to more insurance claims.
The aging body’s diminished coordination, flexibility and strength can affect reaction times, making it difficult for older drivers to avoid accidents. Also, the Centers for Disease Control and Prevention finds that the risk of being killed or injured in a traffic accident increases as drivers age.
The Insurance Institute for Highway Safety reports that fatal crashes increased notably at ages 70 to 74 and are highest in drivers 85 and older. That is mainly because senior drivers in this age range are more susceptible to crash injuries, especially chest injuries and other medical complications. More severe accidents for older drivers then result in expensive car insurance claims. This leads to higher rates.
Even if you’re age 75 and a stellar driver, with no insurance claims, your rates will reflect the claims of other older drivers.
Trying to stay in top shape physically and mentally as you get older may help. Adjusting your driving habits to remain a safe driver can also assist you in keeping your car insurance rates more reasonable.
Tips for Senior Car Insurance Buyers
You can’t stop the gradual increase of car insurance costs that all senior drivers see but there are ways to minimize them.
Comparison Shop With Multiple Companies
The top tip is to shop around with multiple car insurance companies. Each company has its own rating system, and finding the one with the best prices for your specific situation is your goal. Compare car insurance quotes with at least three companies.
Ask for Discounts
Don’t be bashful about contacting your insurance agent or insurer to make certain you’re getting all of the car insurance discounts you’re eligible to receive. Many discounts are automatically applied, like a discount for insuring multiple cars. There may be others available that you’re not aware of, like small discounts for paying in full and going paperless.
Take a Defensive Driving Course
Many car insurance companies will give you a discount if you take an approved defensive driving class. Some states mandate this discount for drivers ages 50 and up as a way to persuade older drivers to sharpen their skills.
Drive Less and Save
If you’re retired, work less or just overall drive less, inform your auto insurance company. Driving your car fewer than a certain number of miles annually can earn you a low-mileage discount.
Maintain a Good Driving Record
Keeping your driving record clear of traffic violations and accidents is an effective way to offset rate increases due to age.
Methodology
To find the best car insurance companies for seniors, we evaluated each company on these metrics:
Auto insurance rates (50% of score): We used data from Quadrant Information Services to find average rates for drivers ages 65 to 80. Rates are based on a new Toyota RAV4 and a full coverage car insurance policy consisting of:
- $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 of property damage (known as 100/300/100).
- Uninsured motorist coverage of 100/300.
- Collision and comprehensive insurance with a $500 deductible.
Car insurance coverage options (25% of score): We gave points to companies that offer accident forgiveness, new car replacement, vanishing deductibles, usage-based or pay-per-mile insurance and SR-22s.
Complaints (20% of score): We used complaint data from the National Association of Insurance Commissioners to determine which companies have low complaint levels, which reflect good customer service.
Collision repair (5% of score): We incorporated grades of insurance companies from collision repair professionals. We used data provided by CRASH Network, a weekly newsletter covering the collision repair and auto insurance market segments. CRASH Network’s Insurer Report Card has grades from more than 1,000 collision repair professionals to gauge auto insurers on the quality of their collision claims service.
Best Car Insurance for Seniors Frequently Asked Questions (FAQs)
Who has the cheapest car insurance for seniors?
Nationwide car insurance is the cheapest for senior drivers between age 65 to 80, among the companies in our analysis. The best car insurance company for you may vary based on where you live and your personal details, such as your driving record.
What is the best car insurance company for senior citizens?
Does auto insurance go down when you retire?
No, car insurance is not guaranteed to go down when you retire. Car insurance costs tend to go up around age 65 and continue to rise as you age. This is because car insurance companies find senior drivers are more likely to be in accidents and make claims.
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But you may be able to lower your car insurance costs after you retire by comparing car insurance quotes and asking for extra discounts. Senior citizen drivers can usually receive a discount for successfully taking a defensive driving course. If you drive less after retirement, you should be able to score a low-mileage discount. You may also want to try out a pay-per-mile insurance program to see if that helps lower your car insurance costs.
Does car insurance increase at age 70?
Yes, car insurance costs continue to increase at and after age 70 because insurers are concerned about the rising accident risk of senior drivers.
Forbes Advisor’s analysis of rates for senior drivers finds that costs typically begin to rise around age 65 and steadily increase after that. Rates at age 70 are 6% higher compared to age 65. The cost of auto insurance goes up an average of 31% from age 65 to 80—and that’s for good drivers. To combat rate increases, comparison shop to find out which companies are offering the best senior auto insurance rates.
Is car insurance higher for seniors?
Yes, car insurance is higher for seniors age 65 or older compared to rates for drivers in their 40s and 50s.
Age-related changes—both physical and mental—can impair driving skills and make driving more challenging for senior drivers. This increased risk leads to higher rates.
What is the average cost of auto insurance for seniors?
The average cost of auto insurance for seniors ages 65 to 80 is $2,150 per year, according to Forbes Advisor’s analysis.
The amount you’ll pay for senior auto insurance depends on your unique personal profile. Compare car insurance costs with multiple insurers to identify the cheapest car insurance company for your specific needs.
