Best Auto Insurance For Elderly Drivers: Safety And Savings

Senior drivers are often charged more for auto insurance, so it's important to find an insurance provider that offers opportunities to save on premiums. The best auto insurance for seniors is offered by Geico, USAA, and Esurance, due to their low premiums, strong customer service, and high ratings. Geico, in particular, is a good choice for low-cost insurance for senior drivers. USAA is a great option for retired veterans, active-duty military members, and their families. For new cars, Travelers is a good choice, and for drivers with accidents on their record, Progressive is a suitable option. For those with bad credit, Mercury may be a good choice, and for rideshare drivers, Allstate is worth considering. Finally, for occasional drivers, Nationwide is a good option.

Low premiums

When it comes to auto insurance for elderly drivers, low premiums are a key consideration. Here are some tips and options to keep costs down:

Shop Around for Quotes

It's worth getting quotes from several providers, as rates can vary significantly. Experts recommend getting at least three quotes to compare. This is a good way to find the most affordable coverage that meets your specific needs.

Defensive Driving Courses

Many insurance companies offer discounts for seniors who take defensive driving or mature driver courses. These courses can be taken online or in person and can result in discounts of up to 15% on your premium. AARP, AAA, and The National Safety Council are among the organizations that offer these courses.

Bundling Policies

You may be able to get a discount by bundling your auto insurance with other types of insurance, such as homeowners, renters, or life insurance. This is often referred to as a "multi-product discount." Companies like Allstate offer significant savings of up to 25% when you bundle policies.

Usage-Based Insurance

Usage-based insurance, also known as pay-per-mile insurance, can be a great option for seniors who drive fewer miles after retirement. This type of insurance tracks your driving habits and rewards safe driving behaviour with lower rates. Nationwide's SmartMiles program is a good example, offering flexible monthly rates based on how much you drive.

Low Mileage Discounts

If you're driving less, let your insurance company know. Most insurers offer discounts for low mileage, as fewer miles on the road generally mean a lower risk of accidents.

Choose a Company with Senior Discounts

Some insurance companies cater specifically to seniors and offer various discounts. For example, Geico has a Prime Time contract that guarantees renewal for drivers over 50, and USAA offers discounts for retired veterans, active-duty military members, and their families.

Adjust Your Coverage

If you have an older car, you may not need full coverage. Consider dropping comprehensive or collision coverage, especially if your car's value has decreased over time. However, make sure you still meet your state's minimum insurance requirements.

Choose a Company with Good Customer Service

While low premiums are important, it's also crucial to choose a company with strong customer service. You want an insurer that will be responsive and helpful when you need to file a claim. Companies like State Farm and Auto-Owners receive high marks for customer satisfaction.

Compare Rates Regularly

Insurance rates can change over time, so it's a good idea to compare rates from different companies every few years. This will help ensure you're still getting the best deal and taking advantage of any new discounts that may be offered.

Strong customer service

Tips for Finding Auto Insurance with Strong Customer Service for Elderly Drivers:

• It is recommended to compare quotes from multiple insurers to find the best rates and coverage options.
• Look for insurers that have a low volume of consumer complaints logged with state insurance departments.
• Consider insurers with high ratings from independent review organizations, such as J.D. Power, Better Business Bureau, or WalletHub (for US-based companies).
• Prioritize companies that offer a wide range of coverage options and add-ons, such as accident forgiveness, rental car coverage, and roadside assistance.
• Choose an insurer with a user-friendly claims process, as making a claim should be straightforward and transparent.

Auto Insurance Providers with Strong Customer Service for Elderly Drivers:

• Geico: Offers affordable rates, a variety of coverage options, and strong customer service. They have high ratings from WalletHub editors and are known for their ease of use.
• USAA: Provides excellent customer service, a wide range of discounts, and coverage options for military members, veterans, and their families. USAA receives high marks from WalletHub editors and is known for its low premiums.
• State Farm: Offers competitive rates, an impressive array of discounts, and coverage options. State Farm receives high marks for customer service, although some consumers have noted frustrations with their claims process.
• The Hartford: Features an auto insurance program designed specifically for AARP members, with discounts and tailored benefits for drivers aged 50 and over. The Hartford receives great ratings from organizations like the NAIC and Better Business Bureau, but some consumers have noted issues with their customer service and claims processes.
• Travelers: Offers competitive rates, a good range of coverage options, and discounts for elderly drivers. However, their customer service department has been noted to have room for improvement in some reviews.

High ratings

When it comes to auto insurance for the elderly, there are several companies that stand out for their high ratings and positive reviews. Here are some of the top-rated options:

• Geico: Geico is consistently rated as one of the best options for elderly drivers due to its low premiums, strong customer service, and high ratings. They offer a variety of coverage options, and their Prime Time contract guarantees policy renewal for drivers over 50. Geico also provides discounts for retired government employees and drivers over 50 who complete defensive driving courses.
• USAA: USAA is highly regarded for its low rates, strong customer service, and wide range of discounts. It is available to active-duty military members, veterans, and their families. USAA also offers accident forgiveness and new car replacement coverage.
• State Farm: State Farm is known for its competitive rates, impressive array of discounts, and high marks for customer service. They offer a multiproduct discount when bundling home, condo, renters, farm, life, or health insurance policies. State Farm also has a strong financial stability rating.
• The Hartford: The Hartford, in partnership with AARP, offers specialised auto insurance for seniors, including features such as RecoverCare, which assists with transportation, dog walking, cleaning, and lawn mowing after an accident. They also have a network of approved repair shops that guarantee their work.
• Nationwide: Nationwide is recognised for its low rates, particularly for senior drivers with poor credit. They offer a pay-per-mile insurance plan, SmartMiles, which is ideal for retirees who drive less frequently. Nationwide also provides a free annual insurance evaluation to ensure customers are taking advantage of available discounts.
• Auto-Owners Insurance: Auto-Owners is highly rated for its customer service and claims satisfaction. They offer a range of add-ons, such as diminished value coverage, rideshare insurance, and additional expense coverage. Auto-Owners also allows for customisation, with options like common loss deductible, which can reduce or waive the auto deductible if both your home and vehicle are damaged.

Discounts for seniors

While auto insurance rates tend to increase for senior citizens, there are still plenty of opportunities for discounts. Here are some of the most common discounts offered by insurance companies for seniors:

Bundling Discounts

Insurers often provide discounts for bundling your auto policy with other types of insurance, such as life insurance, homeowners insurance, or renters insurance. By combining multiple types of insurance with a single provider, you can take advantage of their bundling discounts.

Multi-Policy Discounts

Insuring more than one vehicle under the same policy can also lead to cost savings. Many insurance companies offer multi-policy discounts, allowing you to insure multiple vehicles at a lower rate.

Safe/Good Driver Discounts

Maintaining a good driving record is crucial for accessing discounts. Safe driver or good driver discounts are often available for drivers who avoid accidents, violations, or claims for a certain period. These discounts reward responsible driving habits and can significantly reduce your insurance costs.

Defensive Driving Course Discounts

Completing a defensive driving course can result in significant savings on your auto insurance. Many insurance companies offer discounts for customers who voluntarily take these courses to improve their driving skills and reduce the risk of accidents.

Accident-Free Discounts

In addition to safe driving discounts, some companies offer accident-free discounts. These discounts are available to drivers who maintain a clean record and go a certain number of years without causing a car accident.

Safety Feature Discounts

If your vehicle is equipped with advanced safety features, you may be eligible for additional discounts. Features such as anti-lock brakes, extra airbags, anti-theft devices, blind-spot monitoring, and lane departure warning systems can reduce the risk of accidents and injuries, making you eligible for lower insurance rates.

Telematics/Usage-Based Discounts

Some insurance companies offer app-based programs, like Snapshot® from Progressive, that monitor your driving behaviour and reward safe driving with discounts. These programs use in-vehicle devices or your phone's GPS to track your driving habits, offering discounts for safe practices while also encouraging improved driving skills.

Military/Veteran Discounts

Military members, veterans, and their families may be eligible for special discounts with certain insurance providers. Companies like USAA cater specifically to military-affiliated individuals and offer exclusive rates and coverage options.

Low-Mileage Discounts

If you're a senior citizen who drives less, either due to retirement or reduced travel, you may qualify for a low-mileage discount. Insurance companies take mileage into account, and driving fewer miles can lower your insurance rate since it reduces the probability of accidents.

Pay-Per-Mile Programs

While not exactly a discount, pay-per-mile auto insurance programs can provide significant savings for seniors who drive infrequently. These programs offer a base premium plus a per-mile rate, allowing you to pay based on your actual mileage rather than a flat rate.

Senior-Specific Insurance Packages

Some insurance companies offer specialised packages designed specifically for senior drivers. These packages may include unique coverage options and discounts tailored to the needs of senior citizens, helping them obtain more affordable coverage.

Usage-based insurance

UBI leverages telematics, which is a combination of telecommunications and informatics, to track and assess driving behaviour. This data is then used to calculate insurance premiums. Safe driving habits can result in lower premiums, while unsafe driving can increase rates.

UBI programs can be beneficial for seniors who drive infrequently or maintain safe driving habits. For example, Nationwide's SmartMiles program offers up to a 40% discount for low-mileage drivers. Similarly, Progressive's Snapshot program rewards safe driving with lower rates.

Some providers, like Travelers, offer UBI programs that can benefit safe senior drivers. USAA also has a telematics program that offers an immediate discount of up to 10% upon enrolment, with the possibility of up to a 30% discount upon completion.

It is important to note that UBI programs may result in higher rates if driving behaviour is unsafe or mileage exceeds expectations. Therefore, it is crucial for seniors to carefully review the terms and conditions of UBI programs before enrolling.

Frequently asked questions