The General: Best For Seniors’ Car Insurance With Cheap Prices
You’ll want to look into choosing a policy with insurance industry giant The General if you’re looking for an auto insurance provider that regularly provides some of the lowest premiums in the market. What’s more, in the J.D. Power list, The General achieved the top spot.
Pros & Cons
- Consistently smaller prices than the bulk of competitors
- Automatic Renewal Program primarily targeted at persons 50 and older
- Accident pardon for qualifying clients
- Almost exclusively online-based
Established as one of the leading insurance companies in the world, with all the standard forms of coverage, The General provides very robust auto insurance plans. Additionally, The General provides clients with many benefits and add-on policies, including:
- Emergency Roadside Assistance
- Accident Forgiveness
- Glass Breakage Coverage
In addition to this, The General provides a distinctive auto insurance package expressly targeted at the 50+ audience. Popularly called the Prime-Time Contract, this package guarantees immediate renewal for The General consumers above the age of 50 as long as you keep an insurance policy with The General. The only condition you’ll need to fulfill for this program is that you cannot have drivers under the age of 25 on your auto insurance, have been accident-free for the three years before you file, and do not use your vehicle for commercial purposes.
Deals on Seniors’ Car Insurance
Availability and Limitations
Senior Discounts For Car Insurance Coverage
Senior Discounts are a very valuable part of car insurance. It is always wise, no matter your age, to look into them when purchasing an auto insurance policy.
Make sure you take time to ask your insurance agent about any senior discounts you qualify for. They can save you a lot in a matter of seconds.
Some insurance discounts senior drivers may want to look into include:
What Does Over 50s Car Insurance Cover
When shopping around, you should consider as much of the market as possible. However, some insurers market their products specifically at older drivers, typically those over 50.
Generally speaking, theyll have high maximum age limits, comprehensive cover levels and an emphasis on features that they think older drivers will value.
For instance, Saga provides very generous levels of cover for driving overseas – a full years comprehensive cover.
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Things To Keep In Mind About Bundling Auto And Home Insurance
- Its not always cheaper
- Customer service might be great for one insurance type but not the other
- Quality of auto insurance and home insurance are not always the same
FYI: Even with a discount, some providers might offer cheap auto insurance but more expensive home insurance . That means your overall costs might be more by bundling under the same provider. If thats the case, you may be better off finding two separate providers that offer cheap auto insurance and home insurance, respectively.
If you can save money by bundling and know that the provider has solid customer service and coverage, bundling is probably a good idea. But, as you can see above, it really does depend on your unique situation. The best way to answer this question is to speak to an agent, ask for a quote, and compare your bundled prices/coverage to other offers.
Auto Insurance Coverage For Seniors
Every driver on the road needs liability auto insurance, so you may already carry that. You may also have opted to purchase collision and comprehensive coverage for even better protection while on the road.
While these are good types of coverage to have, there are still ways you may want to expand or adjust your policy. Hitting a certain age as a senior and seeing your rates go up is usually a good time to analyze your policy.
Some additional types of auto insurance for seniors include:
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Do You Qualify For Senior Car Insurance
Some car insurance companies have requirements for seniors. For example, to get insurance from The Hartford, you must be an AARP member. But even if you choose a car insurance company without eligibility requirements, you might have to meet certain criteria to take advantage of senior discounts. For example, some carriers offer savings for drivers over 60, but only if they are retired or work less than 25 hours per week. Similarly, some senior driver discounts are only available in select states.
Cheap Car Insurance Companies In Santa Fe
Geico offers the cheapest car insurance in Santa Fe, at an average of $1,012 per year with full coverage limits of 100/300/100.
The second cheapest company in Santa Fe is USAA, offering car insurance rates at $1,115 per year. USAA offers car insurance only to members of the military, veterans and their immediate families.
As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Santa Fe before deciding on the policy that matches your requirements.
The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Santa Fe, New Mexico:
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Best Auto Insurance For Seniors In 2021
Updated on Tuesday, November 9 2021 | 0 min. read| by Alison Chan
Seniors pay an average $962 for auto insurance per year. Here’s where you can find the best company.
Drivers between the ages of 55 and 65 typically pay lower rates for car insurance than almost any other age group. This is because theyre usually safer drivers than those under the age of 55. They often drive less, too. Also, most under-65 seniors have yet to experience the age-related declines in vision and cognitive function that are more common among their over-65 counterparts.
This article covers what you need to know about senior car insurance, including:
|Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.|
State Farm has the cheapest car insurance for seniors. It offered our sample driver an average quote between $736 and $841.
Progressive wasnt far behind State Farm in terms of cheap auto insurance for senior citizens. The average rate quote Progressive sent our sample senior driver ranged from $991 to $1,360.
Keep in mind:
What you pay for car insurance depends on several rate factors, including your driving record, where you live, the car you drive and more.
Get Credit For Driving Less
Recently retired and driving less? Let your insurer know. Your premium should go down if you no longer commute to a job every day and log fewer miles.
If you drive infrequently, you might want to consider pay-per-mile insurance, which bases premiums in part on how many miles you drive. Youll use either a device plugged into your cars diagnostic port to record your mileage, or download an app to your smartphone which tracks your driving behavior and sends the data to your insurer. Metromile, Allstate, Nationwide and Mile Auto all offer per-mile insurance in select states.
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.
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.
Rates were calculated based on a full-coverage policy.
How Much Is Car Insurance For Seniors Over 70
The cost of car insurance for older drivers varies over time as they are more likely to be in an accident. As a result, car insurance for people aged 60 and above will be less expensive than that for people aged 70 and up. The state minimum requirement for seniors over 70 is $594, the full coverage limit of 50/100/50 costs $665 and a full coverage of 100/300/100 limit costs $1,626.
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How To Save Money On Car Insurance As A Senior
Fortunately, you dont need to be stuck paying excessively high premiums for your car insurance. There are several ways that you can save money on your coverage.
Your home state can have a significant impact on your car insurance rates. This can be attributed to high density populations, higher numbers of uninsured drivers, the costs of lawsuits and even unique insurance schemes.
In this chart created with data from The Zebra shows the ten most expensive states for car insurance. It shows Michigan continues to have the highest average annual premiums. The average cost of insurance is significantly more in Michigan compared to the second most expensive state, Louisiana.
Typically, the states with the most inexpensive car insurance rates have lower population densities and less costly lawsuits and accidents. This chart showing The Zebra data on the average annual premium costs, shows that the state of Maine offers the least costly car insurance. This is closely followed by North Carolina and Virginia.
However, there is only a 25% difference in cost between Maine and the 10th least expensive state, Indiana. This is a different trend compared to the most expensive car insurance states, where the cost can be significantly different.
You Are Protected In Case Of Theft
If your seniors car insurance includes comprehensive coverage, you will be protected in the event that someone steals your car. In the event your car is stolen, your insurance provider will help cover the costs of a new one. Comprehensive coverage can also protect you against vandalism, fires, water damage, and more.
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Is There A Maximum Age Cap For Car Insurance In Ontario
No, as long as youre still a good driver and continue to meet the requirements of your licence, you can still get car insurance.
In Ontario, once you turn 80, you will be required to go for a drivers license renewal program to test your driving abilities and ensure you can stay safe on the roads. This includes:
- A standard vision test
- A driving record review
- Participation in an interactive group education session
This usually takes around 90 minutes. If you pass, you meet the requirements for license renewal. Sometimes, you will be required to take a road test and/or complete a medical checkup. Senior drivers in Ontario are required to renew their drivers licence every two years. As long as you can still legally drive, you can still get car insurance.
Do Seniors Pay More For Auto Insurance
Yes, in most situations, a senior will pay more for car insurance than a driver in their 30’s or 40’s. However, they often pay less than a teen. According to our data, the average full coverage rate for an 85-year-old driver is $2,165, which is a 20% increase from age 75 rates and a whopping 44% increase from the cost of car insurance for a 60-year-old driver.
–Additional reporting by Michelle Megna
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Cost Of Auto Insurance For Seniors
On average, 70-year-old drivers pay $1,742 annually for full coverage car insurance. This is nearly equivalent to the national average cost of car insurance, which is $1,771 per year for full coverage.
However, keep in mind that car insurance rates are based on more than a dozen individual rating factors, according to the Triple-I. Seniors tend to be relatively safe drivers, but if you have had an at-fault accident, moving violation or DUI conviction in the past several years, you may pay higher premiums. The type of car you drive, the coverages you choose and the discounts you qualify for will also impact your rates, so you may pay more or less than the average.
Auto Insurance For Seniors: What You Need To Know
Every Senior driver needs to have at least the minimum amount of car insurance coverage required by the state they live in. Senior drivers are no exception to this. But finding good, affordable auto insurance for seniors may be a bit difficult.
Companies tend to increase rates for seniors as soon as you hit a specific age, usually around 65 years old, putting you in the non-standard auto insurance category.
Due to this, a senior may have to start looking for either discounts or a new car insurance company to purchase a policy with. Auto Insurance for seniors isnât impossible to obtain it just may take a little bit of hunting for affordable rates.
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Average Senior Car Insurance Rates By Coverage Type
Senior car insurance coverage ranges from basic liability car insurance coverage, usually required by state law, to full coverage car insurance for damages and expenses for both you and the other driver if you are at fault. Full coverage also protects you for damage to your car not sustained in a car accident and theft. How much coverage you need depends on your circumstances, but full coverage with higher maximum limits could protect your nest egg.
The best car insurance option for you depends on your individual situation and needs, including your vehicle type, income, savings and more. If youre looking to save money, reducing your coverage or raising your deductible could result in lower car insurance premiums. For a 70-year-old driver, the average cost of minimum liability insurance is $797, while full coverage with 50/100/50 limits costs an average of $1,334, which is an increase of 67.4%.
AVERAGE CAR INSURANCE FOR A SENIOR
Minimum liability annual cost: $797
Comprehensive/Collision annual cost: $1,334
Comprehensive/Collision annual cost: $1,454
You Are In Compliance With The Law
The last benefit senior drivers get by purchasing auto insurance is that in doing so, they comply with the law. Auto insurance is mandatory throughout Canada, so if you wish to drive, no matter your age, you must have a valid car insurance policy. Failing to drive without insurance can lead to hefty fines, jail time, and a suspension of your drivers license.
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Cheap Car Insurance For Seniors
When youre faced with several cheap car insurance quotes, it can be a little daunting to decide which one is the best option for you. Fortunately, you can make this decision a little easier by assessing some basic considerations.
Although you may be keen to find the cheapest car insurance, it is important to read the fine print and ensure the policy meets your needs. Youre likely to regret saving a few bucks if you struggle to make a claim in the event youre involved in an accident.
Best Overall Auto Insurance For Seniors: State Farm
Why it’s great
State Farm’s cheap rates, national availability and dependable customer service make it the best pick for most seniors.
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.
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Auto Insurance In Your Early 60s
Barring an unlucky streak or late-onset midlife silliness, you’re likely to pay less for car insurance than you ever have between the ages of 50 and 65. At 65, however, some insurers raise premiums. Your current insurer may not be among the best insurance companies for older drivers. Turning 65 might be a signal to shop for a better deal.
The average rate for full-coverage auto insurance for a 65-year-old is $1,565.
How Seniors Can Lower The Cost Of Car Insurance
Here are a few things seniors can do to lower the cost of auto insurance:
- Drive safely. Safe drivers pay less for car insurance than those with tickets and accident histories. This is the single most important thing any driver can do to lower rates.
- Shop around. Get quotes from several companies to see which offers the best rate. Each company evaluates a driver’s application a little differently, so each company offers a different rate.
- Look for senior discounts. Some companies offer discounts to seniors. This isn’t a guarantee that they’ll offer more affordable rates than insurers without senior discounts, but it doesn’t hurt to check them out.
- Choose a higher deductible. Deductibles are the out-of-pocket costs drivers pay if they have to file a claim. Choosing a higher deductible usually lowers monthly premiums.
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Is There Cheap Car Insurance For Drivers With Prior Incidents
If you have a speeding ticket, accident, or other traffic violation on your driving record, you will pay a higher rate than a driver with a clean record. How much your premium will jump up will depend on the type of infraction as well as your other rating factors.
When we ran the numbers, a speeding ticket could push your rates up a whopping 70% while an accident on your record could result in a 108% increase. However, the rate increase will often vary depending on your insurance company as well as what state you call home.
If you have recently been in an accident or received a speeding ticket, shopping for your coverage is typically the best way to keep your premium affordable. Shop a variety of insurance companies and make sure you are comparing similar coverage limits and deductibles.