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Best Cheap Car Insurance for Seniors in 2022

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With rising auto insurance rates (the average annual spending for car insurance increased to $1,070.47 in 2019), you might be wondering what you can do to lower your premiums and save on auto insurance.1 If you’re a senior, you can take advantage of insurance providers that offer affordable rates, accident forgiveness, and incentives for taking defensive driving courses or installing anti-theft equipment to save on premiums.

These discounts can add up in the long run, saving you as much as 40 percent on your monthly premiums. We’ve come up with a list of some of the best cheap car insurance providers for seniors that offer affordable rates, bundling options, and plenty of discounts to lower your premiums.

  • 1. State Farm

    Overview

    State Farm has been in the insurance business for 100 years, offering affordable rates, an efficient claims process, and thousands of local certified insurance agents available for all your insurance-related questions. We’ve ranked State Farm as the most affordable car insurance for seniors because you can save an average of $1,127 annually if you bundle your home and auto insurance.

    Along with affordable bundle rates, State Farm helps you stay within your budget by offering defensive driving course discounts, good driver discounts, and accident-free and good driving savings for seniors. Additionally, if you’re a senior with an older vehicle installed with a passive restraint system, you can receive up to a 40 percent discount on medical-related coverage.

    Or, if you need to insure your spouse’s car, you could save more on car insurance and pay lower insurance premiums with State Farm. If you enjoy sticking with the same insurance provider, you can reap the benefits of their loyalty discount, which helps you become eligible for discounts if you remain a loyal customer for three years or more.

    Please scroll to the right for more info.
    Pros
    • Safe driver discounts
    • Budget-friendly auto discounts
    • Easy claims process
    • Over 19,000 insurance agents
    • Bundle options for auto insurance, homeowners, renters, condo, or life insurance
    • 100 years of experience in the industry
    Cons
    • Discounts for Drive Safe & Save program not available in CA, MA, and RI
    • Not all vehicles or drivers are eligible for certain discounts

    Final Thoughts

    Overall, State Farm has excellent customer service and is a great choice for seniors, thanks to the numerous discounts and savings from bundling insurance. Keep in mind that discounts and savings may vary depending on the state you reside in and the vehicle you’re driving. For the most part, State Farm offers several savings and discounts for auto insurance, including perks for loyal customers and anti-theft and passive restraint discounts. If you’re looking for an auto insurance provider with vast coverage and ample savings, you might want to consider State Farm.

    Did You Know: For all things insurance, don’t forget to check out our latest guide to insurance for seniors!

  • 2. Nationwide

    Overview

    Nationwide has been around since 1925, offering affordable home, life, and auto insurance policies for seniors who are on a fixed income or limited budget. They made our list for offering excellent value at affordable rates, thanks to their numerous car insurance discounts, comprehensive coverage, and accident forgiveness incentives.

    Did You Know: You can lower your premiums by enrolling in state-approved defensive driving courses, bundling your auto and home policies, and taking advantage of additional discounts through your insurance provider.

    Along with affordable premiums and bundling options, Nationwide offers On Your Side Review, a free annual insurance assessment, to all of its members — giving seniors peace of mind and the chance to better understand their policies or adjust coverage as needed. Other perks include incentives for safe or infrequent drivers, which can help you save up to 40 percent.

    Please scroll to the right for more info.
    Pros
    • Pay-per-mile car insurance available
    • Range of auto insurance coverage for RVs, ATVs, personal watercrafts, among others
    • Accident forgiveness
    • Defensive driving, anti-theft, automatic payments, and other discounts
    • Multi-policy discount of up to 20 percent
    • Classic car owner protection
    • Exemplary claims service
    • SmartRide for safe drivers; 10 percent discount
    Cons
    • SmartMiles (pay-per-mile insurance) not available in AK, HI, LA, MA, NC, NY, and OK
    • Lower customer satisfaction ratings than some providers

    Final Thoughts

    Nationwide is a reliable car insurance provider for seniors, whether you’re looking to insure a new or classic car, RV, or even a boat. When you bundle your home and auto insurance policy, you can save up to $646 a year, according to the company. There are other discounts available, such as a state-approved defensive driving course for adults over 55, and anti-theft discounts. Although their pay-per-mile insurance program is not available in some states, we still think Nationwide offers robust savings and discounts — regardless of your age, driving history, and coverage needs.

  • 3. Travelers

    Overview

    With over 165 years of experience, Travelers provides affordable coverage for the unexpected, giving older adults much-needed peace of mind with higher coverage amounts. If you’re concerned about getting into a car accident and all of the expenses that come with it, and you want robust coverage, Travelers umbrella coverage is a great option.

    With umbrella auto insurance coverage, you can choose high liability amounts of $1 million to $10 million. Additionally, you’ll be covered from legal bills or other issues that may arise. You can add the umbrella insurance coverage to any auto or homeowners policies for added liability protection. In addition to higher coverage amounts beyond the standard limits, Travelers provides many ways for seniors to save on car insurance. This ranges from multi-policy discounts of up to 13 percent to safe driver discounts if you’ve had no accidents, violations, or claims in the past three to five years.

    Please scroll to the right for more info.
    Pros
    • Umbrella insurance coverage
    • 165 years of experience
    • Nation’s largest property casualty insurer
    • Multi-policy, good student, safe driver, and hybrid/electric car discounts
    • Over 12,000 claim employees
    • Great customer service and claims support
    • MyTravelers mobile app
    • Higher coverage limits
    Cons
    • Insurance coverage varies; not available in every state

    Final Thoughts

    Travelers provide cheap car insurance for seniors with higher coverages. Adding umbrella insurance coverage can provide peace of mind for seniors and additional personal liability protection in the event of an unexpected situation. Another thing to remember: not all discounts or coverage options are available in every state, so contact a local agent to learn more.

  • 4. Farmers

    Overview

    Farmers Insurance, a provider with over 90 years of industry experience, is committed to keeping premiums low, especially for seniors who are involved in an accident. We put Farmers Insurance on this list for their accident forgiveness coverage, which forgives drivers for one at-fault accident every three years.

    Additionally, if you add accident forgiveness to your policy, you can save and keep your premiums from potentially increasing after one accident. When you switch to Farmers Insurance, you can save approximately $441 (according to the company) depending on your state of residence. If you’re an older adult looking for ways to save and lower your premiums, Farmers recommends keeping your current car for a few more years or consider purchasing multiple policies to qualify for discounts. You can also take advantage of Signal, a smartphone app that monitors your driving behavior and habits. If you enroll and use the app, you can potentially get a 15 percent discount on your insurance premiums.

    Please scroll to the right for more info.
    Pros
    • Higher auto limits through personal umbrella policy
    • Good driver discounts
    • Thousands of licensed Farmers Insurance agents
    • Fast and easy online quotes
    • Claims online chat
    • Vehicle glass repairs
    • Classic and collector car insurance
    Cons
    • Signal safe driving discount not available in all states
    • Rates slightly more expensive than other providers

    Final Thoughts

    Since 1928, Farmers Insurance has been a trusted name in the insurance industry. When it comes to cheap auto insurance, Farmers may not be at the very top of the list. However, they help keep premiums from rising after an accident. Although Farmers doesn’t offer a senior-specific discount, you may be eligible for multi-policy, safe driver, and other discounts.

  • 5. Progressive

    Overview

    Progressive is ranked as the third-largest auto insurer in the nation, with over 26 million policies in force as of 2022.2 You may have seen a Progressive ad, with Flo letting you know about all the savings you can enjoy through their various insurance products. In addition to an estimated annual savings of over $700 when you switch to Progressive, according to the provider, you can also receive 24/7 support for all your insurance-related questions or claims.

    With Progressive, seniors can save an average of 4 percent on their auto insurance when bundled with home, renters, or condo insurance. Seniors can also save with Snapshot, a good driving program that ranks your driving behavior and how often you drive.

    Please scroll to the right for more info.
    Pros
    • Savings of up to $700 on auto insurance
    • Commercial insurance policies
    • Umbrella policies
    • Name Your Price Tool for best savings
    • Compare car insurance rates through AutoQuote Explorer
    • Snapshot rewards for good drivers (usage-based insurance)
    • 24/7 customer service
    Cons
    • Lower customer satisfaction than other providers

    Final Thoughts

    In addition to bundling incentives and a variety of coverages for different types of vehicles, Progressive offers other insurance options, including life, umbrella, and travel insurance. We’re also fans of their Name Your Price Tool, an exclusive savings tool that helps you find the best and cheapest car insurance rates based on how much you’re able to pay.

  • 6. AARP Auto Insurance

    Overview

    If you’re an AARP member, you know the discounts available are seemingly endless, and that holds true for car insurance. AARP offers cheap car insurance for seniors through The Hartford, exclusive to AARP members. The Hartford provides various discounts and add-on coverage for seniors to help you save and customize your coverage to your needs. The Hartford also ranks No. 1 in the J.D. Power rankings for customer satisfaction when it comes to the auto insurance claims experience.

    If you’re looking to streamline your insurance policies, you can bundle AARP auto and home insurance through The Hartford. According to the company, you’ll save up to 20 percent on home insurance and five percent on auto insurance when you bundle.

    Please scroll to the right for more info.
    Pros
    • Designed specifically for seniors
    • Multiple discounts available
    • Customizable add-ons and coverage
    • High customer satisfaction
    • Available to AARP members
    • Fast and efficient claims process
    • Save up to 10 percent just for being an AARP member
    Cons
    • Requires an AARP membership

    Final Thoughts

    Filing car insurance claims can be a headache, but it doesn’t have to be. The Hartford from AARP offers a fast and efficient claims process for seniors. Plus, you’ll receive exclusive discounts, benefits, and add-on coverage designed for your needs. While the perks are great, just know that you’ll need to pay for an annual AARP membership to sign up. Memberships cost $16 per year, and you’ll gain access to hundreds of discounts and benefits across several categories like travel, insurance, health care, and more.

How We Chose the Best Cheap Auto Insurance for Seniors

All of the providers had to meet certain criteria in order to make our list.

  • Discounts: The providers that we chose offered numerous discounts that seniors can take advantage of.
  • Claims service: We looked into providers that offered various ways to easily access, review, and file claims. We also valued providers that offered ongoing claims support and an accompanying mobile app to review claims.
  • Low premiums: We chose insurance providers that offered affordable rates and low premiums, especially when it comes to bundling car insurance.
  • Accident forgiveness: Our list features providers that offer generous accident forgiveness coverage, even if you’re at-fault for an accident.
  • Years of experience: The companies we selected have a strong history and reputation in the insurance industry.
  • Bundle options: We chose providers that offered savings based on bundling home, auto, or life insurance.

Do Seniors Pay More for Auto Insurance?

Typically, older adults ages 65 or higher tend to pay more for auto insurance due to driver risk, the state you reside in, certain health conditions that may put you at risk on the road, or vision and hearing loss impairments. The exact time when rates will increase varies from person to person and provider to provider. According to Progressive, car insurance premiums tend to increase starting at age 75, with an average increase of $101 per year, or 4 percent more than previous years.3 We recommend taking advantage of defensive driving discounts or usage-based insurance to lower your auto insurance costs.

Tips for Getting the Best Deal on Car Insurance for Seniors

Here are a few of our top tips for getting the best deal on your car insurance:

  • Maintain good driving habits to keep rates low.
  • Contact your insurance provider for additional discounts not listed on the website.
  • Install an anti-theft device in your car for added protection and to receive safety discounts.
  • If you drive a hybrid or electric car, look for energy efficient discounts.
  • Take a state-approved defensive driving course to save on premiums.
  • Bundle your home, auto, or life insurance policies with the same insurer to take advantage of bundle discounts.
  • Become a loyal customer to save in the long run.
  • Shop and compare quotes for multiple providers.
  • Consider usage-based insurance if you drive less.
  • Take advantage of multi-policy discounts for more than one car.
  • Consider an umbrella policy for extra protection and to avoid potential medical and legal bills.
  • Consider adding accident forgiveness to protect from higher premiums in the event you get into an at-fault accident .

Car Insurance Discounts for Seniors

As we’ve mentioned, you can take advantage of discounts as you shop for cheap car insurance. Even if a company doesn’t offer senior-specific discounts, there are likely still discounts you’ll be eligible for. Below is a list of some of these discounts from our top providers.

  • Nationwide: Get up to a 10 percent discount for signing up for usage-based insurance (SmartRide); receive recurring discounts for going paperless.
  • State Farm: Save up to 40 percent on medical-related coverage for eligible passive restraint systems; get up to a 30 percent discount on auto insurance by downloading and using the Drive Safe & Save Mobile app.
  • Travelers: Save up to 13 percent on your car insurance if you bundle Travelers car and home policies.
  • Farmer’s Insurance: Owners of hybrid cars and other alternative vehicles can receive 5 percent savings.
  • Progressive: Receive up to 5 percent savings on two or more policies with Progressive (multi-policy discounts).
  • AARP from The Hartford: Save up to 10 percent just for being an AARP member; save up to 5 percent on car insurance and up to 20 percent on home, condo, or renters insurance when you bundle.
Written By

Jeff Hoyt

Editor in Chief

Since graduating from Harvard with an honors degree in Statistics, Jeff has been creating content in print, online, and on television. Much of his work has been dedicated to informing seniors on how to live better lives. As Editor-in-Chief of the personal… Learn More About Jeff Hoyt

Citations
  1. Insurance Information Institute. (2022). Facts + Statistics: Auto insurance.

  2. Progressive. (2022). Progressive Reports January 2022 Results.

  3. Progressive. (2022). At what age does car insurance go down?