Personal Finance

The 8 Cheapest Auto Insurers for Seniors

Photo by Rob Marmion / Shutterstock.com

Age has its privileges. And if you play your cards right, cheaper car insurance can be among them.

Nationwide offers seniors the best deal on car insurance — $460 for the average six-month premium, according to a recent report from The Zebra, an insurance comparison tool.

That is particularly impressive given that Nationwide does not offer a specific “senior discount.” However, the insurer does offer other price breaks that work to the advantage of seniors, such as rewarding accident-free driving and the completion of a defensive driving course, The Zebra notes.

The cheapest car insurance providers for seniors — based on six-month premiums — are:

  1. Nationwide: $460
  2. Geico: $527
  3. USAA: $535
  4. Progressive: $559
  5. State Farm: $573
  6. The Hartford: $651
  7. Farmers: $682
  8. Allstate: $950

The Zebra’s findings are based on data from its State of Insurance car insurance pricing analysis. The analysis of more than 83 million insurance rates includes every U.S. ZIP code.

Overall, seniors on average pay $1,315 per year for auto insurance. That equates to a six-month premium of $657.50.

Average six-month rates for older drivers are:

  • Ages 60-69: $658
  • Ages 70-79: $762
  • Ages 80-89: $882

The Zebra notes that people in their 50s pay the lowest car insurance rates of any group, followed by those in their 60s.

It’s important to note that these are just averages. Car insurance rates are highly personalized. Everything from your driving record to where you live — and even your credit score — might impact the rate you are quoted.

That is why it is important to get quotes from multiple insurers before you settle on a policy. So, if you are looking for a good deal on insurance, be sure to shop around.

Or, let a service such as The Zebra or Gabi gather quotes for you so you can pick the best rate. To learn more, check out:

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.


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