Auto Insurance for Seniors

If you are a senior and having been safely driving for many years, insurance agencies are ready to reward your good behavior. In many instances your car insurance rates climb as you age, which can seem unfair.

This is especially true if you have been a safe driver for many years. However, many car insurance providers now offer discounts and other benefits to drivers who are over 50 and have good driving records.

Some of the ways car insurance companies are offering discounts and benefits to seniors is through driving apps that track the good behavior when you are behind the wheel. Others offer you a flat rate discount if you take a refresher driving course online. Have you purchased a newer car with additional technology that makes it safer to drive? Car insurance agencies are willing to reward that as well. Here is a quick list of agencies offering discounts and additional benefits as well as quick tips on finding the best rates.

AllState Insurance Company

Allstate offers a plethora of ways to save. What is even better is that you can double or bundle these discounts. For example, if your car has safety devices including anti-theft or anti-lock breaks then you can receive a discount. If you have multiple policies with Allstate, such as homeowner’s insurance, then you get a bundle discount. The responsible payer discount is for those who have a stellar payment record and have not received a cancellation notice. Other discounts are available including: FullPay, safe driving club and new car discounts.

AARP/Hartford Insurance Company

If you are a member of the American Association of Retired Persons (AARP) then you qualify for a discount on car insurance through Hartford Insurance agency. Their policy is specifically designed for seniors and addresses the concerns of those over 55. Comprehensive coverage is offered and has a monthly premium that is rated as below-average on cost.

Geico Insurance Company

There is more to this auto insurance company than a cute geko spokesanimal. The senior discounts and lower than average premiums make it one of the most popular for seniors. Mature drivers are offered military discounts, bundling discounts and you receive a significant discount if you agree to take an online defensive driving course. Accident forgiveness and safe driving programs round out its robust offerings.

Amica Insurance Company

Amica’s SafetyServe Program is one of the best options for senior drivers looking to receive a discount on monthly premiums. The company is a smaller company compared to powerhouse giants like Allstate, but their customer satisfaction ratings are some of the highest in the industry. Also offered are FullPay discounts for those paying their annual premium in one payment, as well as those who have multiple accounts with the company.

USAA Insurance Company

For those of you who have served, or currently serve, in the U.S. military, USAA offers you amazingly low monthly premiums. They claim that their members save nearly $700 a year when they switch from one company to their company. Additionally, seniors who agree to take a defensive driving class, or maintain a good driving record for five or more years, receive at least 10 percent discount on their annual premiums. You can obtain an additional 10 percent off if you also have another insurance policy with them, such as homeowners.

Farmers Insurance Group

Farmers offers some of the most comprehensive discount programs for seniors. You can receive discounts for having multiple policies with them, or for taking a defensive driving course. Receive another discount if you enroll in automatic payments, pay the full annual amount at once, or for switching from one provider to Farmers. You can stack or bundle these discounts so it is possible to walk away with 20-30 percent discount per month.

State Farm Insurance Company

How does 50 percent savings sound? You can realize that savings through State Farm’s Drive Safe and Save program. All you have to do is set up the driving app and plug the device into your car. You can also increase your savings by taking a defensive driving course. State Farm also offers discounts for members who also have additional policies with them (called bundling).

Finding and Getting the Best Car Insurance Rates for Seniors

Your monthly payment for car insurance is based on several factors, each of which are negotiable. Most do not realize that the price does not always have to be the cost. You must be willing to ask the right questions and to ask for a deeper discount. Since each agency is independently owned and operated, it leaves wiggle room for negotiation. Ask yourself the following questions to determine what you are comfortable with in an auto policy:

  • Are you willing to have higher limits on your policy? If so it can protect your personal assets in case you are sued in the event of an accident where you are at fault.
  • Are you an incredibly safe driver and have had few, if any, infractions, tickets or accidents? Find out your state’s auto insurance minimum and enjoy deep savings on your monthly payment.
  • Do you live in a higher-risk part of the U.S.? If so, then consider taking a larger policy to cover theft or damage.
  • How often do you drive? If you do not drive much, then consider raising your deductible. This lowers your monthly cost.
  • Are you paying for coverage you do not need? If your make and model of car is an older one, then chances are you only need to carry a “liability only” policy. Another good

The key to getting the best rates on a car insurance policy for seniors is to take the time to get quotes from several agencies. Let each of them know you are doing this, and they will try to remain competitive with one another. It benefits you in that they may lower your cost even more. If you have more than one car, then the rental car reimbursement coverage is also unnecessary. For most seniors, the policy will be the 100/300/100 liability coverage. This means 100,000 for bodily injury to another person,     300,0000 for damages to property and 100,000 for uninsured motorist.