Best automobile insurance for seniors

Finding the proper automobile insurance isn’t almost finding a policy that’s affordable and offers great coverage. It’s also about finding insurance that meets the unique needs of your stage of life. Auto insurance for seniors should be backed by a provider with strong financial health to make sure payouts within the event of a claim. Coverage compiled providers offering the simplest automobile insurance for seniors to assist simplify your search.

The Best automobile insurance Companies for Seniors

Entering retirement often correlates to being mindful and intentional about how you spend your money, which is why it’s best for seniors to seek out a reasonable automobile insurance provider. However, other factors should be considered when selecting the simplest auto insurance for seniors, including customer service ratings, available discounts, breadth of coverage and financial strength. The providers below are selected on the idea of those factors.

  • The Hartford: Best overall
  • GEICO: Best for affordability
  • USAA: Best for veterans
  • Allstate: Best for discounts

The Hartford: Best overall

The Hartford tops our list because the best auto insurance firm for seniors. Since 1984, the corporate has provided automobile insurance coverage exclusively for AARP members, making them a superb choice for those aged 50 and older. Not only does The Hartford tailor services specifically for seniors, but they also offer unique coverages like first-accident forgiveness, disappearing deductible and deductible waiver through The Hartford’s Advantage Plus policy. The Hartford’s AARP policies also feature unique programs for senior citizens, including:

  • 24/7 roadside assistance
  • 24/7 claims hotline
  • New car replacement
  • Lifetime car repair assurance
  • Rate protection

Through its RecoverCare program, The Hartford also will help buy transportation, cooking, cleaning and other costs related to an injury caused by an auto accident. While the annual premium for The Hartford averages out at $1,572, customers can leverage discounts for extra savings by bundling with home, condo, or renters insurance, paying in-full or by proving their car has special safety or environmental features.

The Hartford provides coverage altogether 50 us and therefore the District of Columbia, and features a customer satisfaction rating of 873/1,000 consistent with J.D. Power’s 2019 Auto Insurance Satisfaction Survey — above average among all providers. Additionally, the corporate receives a financial strength rating of “A-” by AM Best, which is taken into account “excellent.”

GEICO: Best for affordability

GEICO outperforms all the opposite companies on our list of best auto insurance providers for seniors when it involves affordability, costing a mean of just $1,260 a year for a full coverage premium. However, GEICO offers even more savings to its policyholders. While the corporate doesn't offer any senior-specific discounts, seniors can potentially leverage up to 25% in savings if they qualify for the subsequent discounts:

  • Safe driving history
  • Multi-car/multi-policy
  • Vehicle safety features

GEICO also boasts one among the upper customer satisfaction ratings from J.D. Power at 879/1,000. the corporate also currently holds an A++ rating for financial strength by AM Best, which is that the highest ranking achievable. Auto coverage is out there altogether 50 states also .

USAA: Best for veterans

USAA is best known for its coverage for active or former military personnel and their families. If you served your country before retirement, you'll be eligible for USAA auto coverage . those that do qualify will enjoy a number of rock bottom rates available, with a mean annual cost of just $1,484 for full coverage. additionally to the already-low premiums, USAA offers exceptional discounts for its senior customers, including:

  • Senior bonus for veterans that have remained USAA customers for 40+ years
  • Multi-policy discounts
  • New vehicle discounts
  • Mileage-based discounts

The company also offers 24/7 roadside assistance and towing coverage for its customers, which may be especially helpful for senior drivers. apart from its affordability and robust coverage options, USAA also earned the strongest customer satisfaction rating through J.D. Power at 900/1,000. the corporate features an A++ AM Best rating for financial strength and offers coverage to all or any 50 us and Washington, D.C.

Allstate: Best for discounts

While Allstate may need the very best average annual premium at $1,896 per annum , the corporate does offer the foremost extensive range of discounts that seniors can leverage. additionally to discounts for retired policyholders, Allstate offers the subsequent opportunities for added savings:

  • Anti-lock Brakes
  • Anti-theft Device
  • Multi-policy
  • Early Signing
  • New Car
  • Autopay
  • eSmart® (Paperless Billing)
  • FullPay®
  • Safe Driving

The company also offers perks, including accident forgiveness, deductible rewards, car-buying services, and a claim satisfaction guarantee — many of which come at no additional charge to the policyholder. additionally to their broad range of obtainable discounts, Allstate scores 853/1,000 in customer satisfaction from J.D. Power, which is below average compared to other providers, but holds an A+ rating for financial strength from AM Best. the corporate offers automobile insurance for seniors altogether 50 states and Washington, D.C.

How Much Does Auto Insurance Cost for Seniors?

No matter what age you're , insurers take this information under consideration when determining the speed of your premium. for instance , parents of teenage drivers will see a mean annual premium of $4,048 for adding teenage male drivers to their insurance, and a mean of $3,819 for adding teenage female drivers to their insurance. Higher rates for teens are a mirrored image of lack of driving experience.

While the value of premiums won’t be quite so expensive for senior drivers aged 55 and older, some companies will raise your premium thanks to your age. While inexperience is an insurance risk related to younger drivers, the subsequent key risk factors apply to senior drivers:

  • The Center for Disease Control (CDC) notes that risk of being injured or killed during a collision increases with age.
  • The CDC also reports that senior drivers, especially those over 75 years aged , have higher death rates from a crash compared to middle-aged drivers.
  • According to the American Automobile Association, older drivers also experience fatality rates 17 times above those aged 25 – 64.

In addition to those statistics, insurers carefully consider driving history and claims history to work out the value of your coverage. For seniors with an extended driving history, this might be a big factor.

How Senior Citizens Can Save on automobile insurance

Seniors pays less for his or her automobile insurance by being strategic about driving habits. for instance , by limiting driving mileage overall, seniors can reduce the likelihood of being involved during a car accident, thereby saving on insurance premiums. Additionally, you'll use rideshare, public transportation and grocery delivery solutions to scale back mileage while still having the ability to run errands, attend appointments and even leave with friends.

In fact, many insurance providers offer discounts for things like reduced mileage, driver safety and rideshare programs. By understanding what discounts could also be available to you, seniors can potentially save significantly on insurance premiums.

Discounts for Seniors

  • Claims-free: you'll be eligible for a claims-free discount if you've got not filed for any insurance claims within the past five – 10 years, counting on the stipulations outlined by your providers.
  • Safe Driving: Drivers that hold a clean record could also be eligible for discounts supported driving behavior. Some insurers, like Allstate and Progressive, even offer a monitor that’s placed inside the vehicle to trace safe driving and allot discounts for driving performance on an ongoing basis.
  • Multi-policy: Senior drivers looking to bundle auto, home, life, and other insurances may save an excellent deal of cash by doing so. Almost every insurance provider offers a multi-policy discount to assist consumers save on coverage needs.
  • Safety Features: Those operating vehicles with unique safety features can often find additional savings only for having such features installed in their car. consult your insurance provider to find out the way to qualify for this discount.

How to Choose the simplest automobile insurance for Those Over 65

To find the simplest automobile insurance for seniors, drivers should compare quotes and coverage options from multiple providers. Many insurers offer unique discounts for seniors, allowing them to save lots of on premiums. additionally to good coverage options and competitive rates, seniors should also select a carrier backed by high customer satisfaction ratings and sound financial strength. consult potential providers to find out what options could also be available to you to make sure you're informed and may find the simplest fit your needs.

The Takeaway

  • The Hartford offers the simplest overall auto insurance for seniors.
  • Seniors will typically pay more for his or her automobile insurance supported insurer assessment of liability, driving history and claims history.
  • Seniors can save by reducing their driving needs and taking advantage of unique discounts.
  • In addition to affordability, seniors should select insurers that provide great customer service, high financial strength and a broad range of coverages and discounts.

Providers offering the simplest automobile insurance for seniors reflect high customer satisfaction ratings, a broad range of coverages and discounts, great financial strength, and affordability. While insurance providers take age into consideration when determining the value of their premiums, seniors still have opportunities for extra savings by leveraging discounts, practicing safe driving and reducing overall drive time whenever possible.