Best Auto Insurance Options For Seniors

Finding the best auto insurance as a senior citizen can be challenging, as rates tend to increase with age. However, there are several insurance companies that offer competitive rates and beneficial features for seniors. When looking for auto insurance as a senior, it is essential to consider factors such as cost, coverage options, customer complaints, and collision repair scores. Here are some of the top-rated auto insurance companies for seniors:

- Nationwide: Nationwide is often recognised as the best overall auto insurance company for seniors. They offer competitive rates, a low number of consumer complaints, and valuable coverage features such as vanishing deductibles and accident forgiveness. Nationwide also has the lowest average rates for older drivers.

- USAA: USAA is a great option for military members and veterans, as their insurance is only available to this demographic. They offer the second-lowest rates for senior drivers and have competitive rates for those with accidents or speeding tickets on their record.

- Travelers: Travelers is an excellent choice for new car owners, as they offer low gap insurance rates and a robust new car replacement coverage feature. They have the third-lowest rates for senior drivers and provide a wide range of coverage options and discounts.

- Auto-Owners: Auto-Owners insurance stands out for its low customer complaint ratio, receiving the lowest ratio among the top-scoring companies in a National Association of Insurance Commissioners (NAIC) data analysis. They offer above-average claims processing scores and competitive rates for many types of drivers.

- Erie: Erie is the best choice if you prioritise a strong collision repair experience. They received the best grade in the CRASH Network's Insurer Report Card, indicating excellence in handling collision claims. Erie also has competitive rates, especially for drivers with an accident, DUI, or speeding ticket on their record.

- Geico: Geico is a good option for seniors with poor credit, as they offer some of the lowest rates for this demographic. They also have competitive rates for good drivers and are available in all 50 states. However, they do not offer certain coverage options like rideshare insurance and gap insurance.

- Progressive: Progressive is ideal for seniors with a DUI on their record, as they offer the lowest average rates for this group. They provide coverage in all 50 states and a wide range of features and coverage options.

Best for affordability

When it comes to affordability, Geico is the best auto insurance company for seniors. Geico has below-average rates for seniors, plus discounts that benefit older Americans, including rate reductions for retired government employees and for drivers 50 and over who complete a defensive driving course.

Geico's Prime Time contract allows drivers 50 and older to get guaranteed renewal, protecting you from being dropped as you get older. Geico also offers 16 discounts and a variety of optional add-ons, such as emergency roadside assistance, rental car reimbursement and mechanical breakdown insurance.

Geico has been in business since 1936 and offers coverage in all 50 states. The company is highly rated for customer satisfaction by J.D. Power.

Another option for seniors is Nationwide, which has the lowest average rates for older drivers and is the best car insurance company for seniors in 2024. Its rates, low number of complaints to state insurance departments and coverage options, like usage-based car insurance, also earn it the title of best car insurance of 2024.

Best for new cars

When it comes to the best auto insurance for seniors with new cars, Auto-Owners is a great choice. They offer specialised coverage for new car owners, including a "purchase price guarantee" option that pays out the original purchase price if your vehicle is totalled within the first two years. They also offer a "total loss to a new automobile" option, which replaces your vehicle with a new one if a total loss occurs within 90 days of your purchase.

Auto-Owners also has good rates for senior drivers and a low level of complaints. They offer accident forgiveness and a diminishing deductible, and received a fairly high grade of B for their claims process.

However, rates are high for drivers with poor credit, and they do not offer SR-22 insurance. Auto-Owners car insurance is available in 26 states.

Another option for seniors with new cars is Erie. They received an A- grade from collision repair specialists for their collision repair process, which is the highest among the companies analysed. They also offer competitive rates for senior car insurance and decent coverage offerings, including add-on coverage of accident forgiveness, gap insurance, new car replacement, and a diminishing deductible.

Erie's Rate Lock keeps your rate the same year after year unless you make specific changes to your policy, such as adding a vehicle. They have a low level of complaints, but rates for drivers with poor credit are higher than some top competitors. Their driving safety app, YourTurn, monitors your driving behaviour, but you only earn rewards for gift cards or donations to charity instead of a discount. Erie is available in 12 states and Washington, D.C.

Best for drivers with accidents

If you're a senior with an accident history, you'll want to find an insurance company that offers affordable rates and won't penalise you too heavily for your driving record. Here are some of the best options:

Progressive

Progressive is a great option for older drivers with a less-than-spotless record. It offers accident forgiveness, meaning your rate won't increase for claims under $500, and if you stay accident-free for five years, even a larger collision won't raise your premiums. It's available in all 50 states and has some of the lowest rates for motorists with speeding tickets, accidents or DUIs. However, it doesn't offer new car replacement coverage.

USAA

USAA is only available to active military members, veterans and their families, but it offers low-cost car insurance for senior drivers in this category. It also gives good rates for drivers with various driving record problems, such as speeding tickets or accidents. It offers accident forgiveness and new car replacement.

Erie

Erie is the cheapest company for senior drivers age 70 who buy full coverage car insurance and who have an at-fault accident with injury on their driving record. It also has competitive rates and a strong collision repair score. However, Erie is only available in 12 states and Washington, D.C.

State Farm

State Farm offers competitive rates for senior drivers, as well as an impressive array of discounts and coverage options. It also receives high marks for customer service. However, consumers complain that State Farm's claims process can sometimes be frustrating.

Geico

Geico has cheap auto insurance for drivers with poor credit and great rates for senior drivers. It has a low level of complaints and offers accident forgiveness, non-owner policies and SR-22 filings. However, it doesn't offer gap insurance, new car replacement or vanishing deductible.

Best for drivers with bad credit

If you're a senior with bad credit, you might be worried about finding affordable car insurance. But there are some great options out there. Here are some of the best car insurance companies for seniors with bad credit, with detailed information about each.

Geico

Geico is a fantastic option for drivers with bad credit, as it offers some of the cheapest rates on the market. In addition, they have a low level of complaints and provide accident forgiveness. However, they don't offer new car replacement, a vanishing deductible, or rideshare insurance.

USAA

USAA is another excellent choice, known for its competitive rates and wide range of discounts. It caters specifically to military members, veterans, and their families. They also offer accident forgiveness and new car replacement. On the downside, USAA is not available to everyone, and it lacks gap insurance and a vanishing deductible.

Nationwide

Nationwide stands out for its usage-based and pay-per-mile insurance programs, which can help good drivers and low-mileage seniors reduce their costs. They also have relatively affordable premiums for drivers with poor credit and a low number of consumer complaints. However, their collision repair process is rated average by experts.

American Family

American Family is an impressive choice due to its robust coverage options and extremely low level of complaints. Their usage-based insurance program, KnowYourDrive, can help good drivers lower their rates. Additionally, they offer accident forgiveness and vanishing deductible features. The downside is that American Family is only available in 19 states, and their collision repair process received a mediocre grade.

Westfield

Westfield is a great option if you're looking for family discounts. They offer competitive rates for seniors with bad credit and have an impressive grade from collision repair specialists. They also provide gap insurance and have a very low level of complaints. However, Westfield is only available in 10 states, and their rates for drivers with a DUI are the highest among the companies analyzed.

Best for rideshare drivers

Ridesharing has become an increasingly popular way to earn extra income, and many seniors are taking up this work to supplement their retirement income. When driving for a rideshare company, your personal auto insurance policy does not cover you, and you will need to purchase rideshare insurance to fill the gaps and protect yourself and your passengers. Here is a list of the best auto insurance companies for seniors who are also rideshare drivers:

Allstate

Allstate is one of the top choices for rideshare coverage for seniors. Its Ride for Hire program covers the gap between your personal auto policy and a rideshare company's coverage. Allstate offers a total of 14 discounts, including one for being a senior citizen, and a pay-per-mile car insurance program. It also offers quotes by phone, through an agent, or online.

USAA

USAA is another excellent option for rideshare insurance, but it is only available to active military members, veterans, and their families. USAA's rideshare coverage is reliable, customizable, and affordable. It received high ratings for overall customer satisfaction and claims satisfaction. USAA's rideshare insurance can be used for any type of ridesharing or delivery driving.

Mercury

Mercury offers rideshare insurance that covers you while driving for Uber, whether you are driving a single passenger or multiple people through Uber Pool. Mercury's rideshare insurance is affordable, with policies starting at $0.90 per day. It also has a very limited coverage area, currently only available in 11 states.

Progressive

Progressive is a good choice for rideshare insurance if you already have a personal auto insurance policy with them. You can purchase a rideshare endorsement and keep the same add-on coverages, like rental car reimbursement, when you drive for a rideshare company. Progressive's rideshare insurance is available in most states, but it can be pricey, depending on your driver profile and existing car insurance premium.

State Farm

State Farm is a good option for rideshare insurance if you drive for multiple companies, such as Uber and Lyft, or Lyft and Grubhub. To get rideshare coverage from State Farm, you must already have a personal auto policy with them. State Farm's rideshare policies can be expensive, adding 15% to 20% to your existing premium.

When choosing rideshare insurance, it is important to compare coverage areas, premium prices, coverage limits, and customer reviews. It is also worth noting that some companies require you to have a personal auto policy with them to purchase rideshare insurance.

Frequently asked questions