Cheapest car insurance for seniors

The cheapest car insurance companies for seniors are Nationwide and Travelers. Drivers over age 65 start to see increasing car insurance rates, but shopping around can save you a lot of money.

Geoff Williams is a freelance journalist and author in Loveland, Ohio, where he lives with his two teenage daughters. He has been writing about insurance and personal finance since the mid-2000s. His work has appeared in numerous publications, including Life magazine, Ladies Home Journal, The Washington Post, CNNMoney, Entrepreneur, Forbes.com and U.S. News & World Report. Williams is also the author of several books, including "Washed Away: How the Great Flood of 1913, Americas Most Widespread Natural Disaster, Terrorized a Nation and Changed It Forever" and "C.C. Pyles Amazing Foot Race: The True Story of the 1928 Coast-to-Coast Run Across America".

John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.

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The cheapest car insurance for seniors depends on where you live and your driving record, but Nationwide and Travelers both have the lowest average rates. Cheap senior car insurance can be harder to find because, statistically, senior drivers are more likely to have accidents. Auto insurance rates go up around age 65 and climb from there.

The average cost of car insurance for a 65-year-old is $486 a year, or $41 a month, for state minimum coverage and $1,740, or $145 a month for full coverage, based on the most recent Insurance.com data. Rates rise steadily as you get into your 70s and 80s.

Fortunately, there are car insurance discounts for senior drivers and plenty of other ways to save on senior car insurance.

Get the cheapest car insurance for seniors with the tips below.

Key takeaways

What is the cheapest car insurance for senior citizens?

Nationwide has the lowest rates available, with annual premiums averaging $1,456. Travelers comes in second, with annual premiums of $1,573. Geico, State Farm, Progressive, Farmers, and Allstate also offer some of the most affordable rates of the carriers we compared. USAA offers more affordable rates to military members and their families. 

The chart below shows five national companies with the lowest premiums available to seniors.

Cheapest car insurance companies for seniors

Select your age and state below to see the average annual and monthly rates.

Cheapest car insurance for seniors with tickets or accidents 

If you’ve had tickets or an accident, how much you pay for car insurance will go up. It’s best to shop around for a company with the best rates if you’ve had an accident or a ticket.

State Farm offers the cheapest car insurance for seniors who have had a ticket or an accident, with premiums less than $2,000 annually. USAA is a close second, but only offers policies to military members and their families, so availability is limited.

*USAA is only available to military members and their families

How much is auto insurance for seniors?

Insurance.com data shows that 65-year-olds pay an average of $486 a year, or $41 a month, for state minimum coverage and $1,740, or $145 a month for full coverage. Rates rise as you get into your 70s and 80s.

When you hit 65, you'll likely see a bump in your car insurance premium. It's a good time to re-evaluate your current insurance company and compare it to others that cater to car insurance for seniors. 

Below are the average costs for three different age groups and three types of insurance coverage. We include the cost of a bare-bones state minimum policy, a liability-only policy with higher limits of $50,000 for bodily injury coverage per person, $100,000 per incident and $50,000 in property damage coverage, written as 50/100/50. We also included a policy with liability limits of 100/300/100 plus collision and comprehensive, with a $500 deductible.

Expert tip: You need collision and comprehensive coverage if you have a financed or leased car or a newer car you can't afford to replace.

Data updated in 2024 Read our full methodology

While car insurance for seniors isn’t nearly as expensive as other groups, notably teens, it’s much higher than for people in their 50s. People in their middle age tend to have the lowest premiums because it statistically has the safest record on the road.

"Seniors have experience driving, so it is not comparable to teens," said Janet Ruiz, director of strategic communications at the Insurance Information Institute. "Many companies do have safe driving courses for seniors to alert them to the specific things they may encounter as they age. Some give a discount if you take the safe driving course, which is usually offered online."

How to find cheap insurance rates if you’re a senior citizen

A great way to get cheaper car insurance is to take advantage of discounts. This applies to senior citizens and people of any age. Several auto insurance companies offer discounts that are specifically applicable to mature drivers.

Customer loyalty can earn you a 30% discount on premiums. Geico, Nationwide and Progressive are among those companies that promote loyalty savings programs. You should still shop around, however. Most experts agree that loyalty savings rarely outweigh saving by switching providers.

Good driver and safe driver discounts are available to all ages and from most companies and can get you between 5% and 25% in savings. The insurance company usually requires that you have a clean driving record for at least three years. That means no DUIs, no moving violations and no at-fault collisions.

AARP offers mature driver courses that can sometimes reduce your premiums from 5% to 15%. Most states require insurers to offer a discount.

Daniel Ferrara, owner of Ferrara Insurance Group, has several suggestions for getting the best rates as a senior driver:

Why do auto insurance rates for seniors go up?

Car insurance companies base rates on how much risk a driver poses to them. If statistics show you are in a group more likely to file a claim, you'll pay more for auto insurance. Mature drivers have experience but also start to see a decline in vision, response time and other things that affect driving skills.

Drivers aged 70 and older have higher crash death rates per mile than middle-aged drivers (ages 35-54), according to the Centers for Disease Control and Prevention. Much of that’s due to increased vulnerability to injury in a crash. In 2019, the latest statistics available, about 8,000 older adults, 65 years of age and up, were killed in traffic crashes and more than 250,000 were treated in emergency departments for crash injuries.

The CDC notes that age-related physical issues, such as arthritis, reduced flexibility and limited range of motion and decline in vision, plus diminishing cognitive function, can affect senior drivers' driving abilities. This is why keeping a stellar driving history will be important to get cheaper car insurance rates. If you drive beyond your current abilities and get a ticket or are in an accident, this will signal to insurers that you pose a higher risk.

Expert Advice

Daniel Ferrara

Emeritus Sales Rep for Liberty Mutual, based out of Katonah, N.Y.

“Car insurance rates tend to rise as drivers get older because insurance carrier statistics prove that older drivers get into more accidents as their reflexes get slower. Drivers' reactions’ time slow as they age,” Ferrara says. “What age do rates go up? That varies from carrier to carrier but generally, it is around age 64.”

Shop wisely for senior car insurance

Navigating scams means being alert and cautious. Make certain to shop around with multiple car insurance companies to get the best auto rates for seniors. Start with your current insurance provider to get a baseline for costs, and then, using the same policy parameters (liability limits, coverages and deductibles), shop with at least three other car insurance companies. You may find other insurers that don't rate as harshly for aging drivers as your present one, or finding who you have is still the best choice.

If you find a cheaper, smaller insurance company, don't switch until you do some research. Check out the company's financial strength with AM Best and then check for customer and claims service reviews. You want your insurance company to have the means to pay out on claims and good customer service so you don't feel ignored after an accident.

Beware of senior car insurance scams

Make sure you don't fall victim to scams when scouting for affordable auto insurance. According to the National Council on Aging, financial scams "targeting seniors have become so prevalent that they're now considered 'the crime of the 21st century.'"

There are several scams that seniors should watch out for, according to AARP:

If you're looking for low-income auto insurance for seniors and find a rate that seems too good to be true, make sure to check the company out first. You can check out their financial strength with AM Best and check with your state's Department of Insurance to make sure they are a legitimate company.

Methodology

Insurance.com commissioned Quadrant Data Services to field rates in 2023 for all available ZIP codes from top insurance companies for drivers aged 65 and up. Rates are based on a 2021 Honda Accord LX, good credit, and a clean driving record.

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