Auto Insurance For Seniors: Best Options

As people get older, their car insurance rates may increase as cognitive and motor skills decline, leading to more insurance claims. However, this doesn't mean seniors have to overpay for their auto insurance. There are a variety of insurance companies that offer affordable rates and beneficial coverage features for seniors.

Nationwide is considered the best overall car insurance company for seniors, with USAA, Travelers, and Erie also excelling in this area. These companies offer budget-friendly rates, low levels of complaints, and helpful add-on coverage features such as accident forgiveness, gap insurance, and vanishing deductibles.

When looking for the best car insurance for seniors, it's important to consider factors such as cost, coverage options, collision repair claims service, and complaint data. Shopping around and comparing rates from multiple companies can help seniors find the most affordable and suitable option for their needs.

Best for fewest complaints: Country Financial

Country Financial has been in the insurance business for nearly a century, and is currently available in 19 states. It offers a wide range of insurance products, including auto, home, life, and other insurance policies, as well as retirement and college savings plans. The company also provides financial services such as 401(k) plans, annuities, IRAs, and managed accounts.

Country Financial stands out for its high level of customer service, as reflected in its above-average customer satisfaction scores from J.D. Power. The company ranked above the industry average in the J.D. Power 2023 U.S. Auto Insurance Study for the North Central region and scored 894 out of 1,000 in the 2023 U.S. Auto Claims Satisfaction Study. Additionally, it has consistently had fewer complaints than average over the past three years, according to the National Association of Insurance Commissioners (NAIC) Complaint Index.

In terms of auto insurance, Country Financial offers standard coverage types and several optional endorsements, such as emergency roadside service, new car replacement, personal effects coverage, and rideshare insurance. The company also provides a variety of discounts, including those specifically for teen drivers. While Country Financial may not be the cheapest option, its rates are typically on par with the national average.

Country Financial's mobile app allows policyholders to manage their policies, file and track claims, pay bills, and request roadside assistance. The company's website also offers educational resources and tools, such as insurance calculators and financial planning guides.

Overall, Country Financial is a strong choice for customers who value customer service and the convenience of managing their financial business through a single company.

Best for ease of use: State Farm

State Farm is the largest auto insurer in the US, with over 19,000 agents across the country, except in Massachusetts and Rhode Island. It has an A++ financial strength rating from AM Best and is ranked second out of 130 providers in the US. State Farm is a good choice for seniors as it offers some of the most affordable rates in the industry for good drivers, with a full-coverage car insurance policy costing about $1,657 per year or $138 per month.

State Farm offers a range of unique coverage options and add-ons, including roadside assistance and rideshare insurance. Its usage-based insurance program is geared towards helping inexperienced drivers get discounts (up to 30%) on their premiums in most states.

State Farm has a great customer service reputation, with positive reviews and high scores in industry studies. It earned 877 out of a possible 1,000 points in the J.D. Power 2023 U.S. Insurance Shopping Study, ranking first for large insurers. It also scored 891 out of 1,000 in the J.D. Power 2023 U.S. Auto Claims Satisfaction Study, placing sixth and above the industry average.

State Farm offers several discounts for seniors, including:

• Multi-line discount: Bundling home and auto insurance policies can save up to $1,073.
• Home security insurance discount: Installing a fire, smoke, or burglar alarm, or other monitoring system can result in savings.
• Roofing discount: Installing impact-resistant roofing products, such as hail-resistant shingles, may qualify for a discount.
• Good student discount: Students under 25 with good grades (a 3.0+ GPA, ranking in the top 20% of their class, or on the Dean's List/Honor Roll) can save up to 25%.
• Driver training discount: Operators of the vehicle under 21 who complete an approved driver education course may qualify for a discount.
• Student away at school discount: Students under 25 who only use the insured car while at home during school vacations and holidays may be eligible for savings.

State Farm also offers safe driver discounts, including:

• Drive Safe & Save™: An initial discount is given for enrolling, and drivers can save up to 30% based on their driving performance.
• Steer Clear® program: New drivers or those under 25 can save while learning to become safer drivers.
• Accident-free and good driving savings: Maintaining an accident-free driving record can result in additional savings.
• Defensive driving course discount: Taking a driver safety course may lead to savings, depending on the state.
• Good driver discount: New State Farm Mutual customers who have gone three years without moving violations or at-fault accidents receive this discount.

State Farm's rates are generally affordable, but they can vary based on factors such as age, driving history, location, and credit score. The company is one of the cheapest options for teens and drivers with a recent accident or a DUI on their record. However, it may be more expensive for those with poor credit.

State Farm provides an online system and local agents to obtain insurance quotes. Information such as location, car details (mileage, age, model), and the number of drivers on the policy is required.

State Farm also offers home, renters, life, and pet insurance, as well as additional policies for flood and earthquake coverage.

Best for military members and veterans: USAA

USAA is a highly recommended auto insurance provider for military members, veterans, and their families. The company offers some of the cheapest auto insurance rates in the market, along with a host of other financial services and membership benefits.

USAA's auto insurance is available only to military members, veterans, and their families. However, once signed up, USAA extends its benefits to the children and grandchildren of its members. The company also offers rideshare coverage in every state except Hawaii, North Carolina, Michigan, Montana, New Mexico, New York, South Carolina, and Virginia.

USAA has a long list of discounts that can save the average driver $725 per year. These discounts include:

• Multi-vehicle discount
• Discount for being accident-free for over five years
• Up to 10% off for bundling home and car insurance
• 3% off for setting up automatic payments
• Up to 10% off for transitioning off a parent's policy (good for children and grandchildren)
• Up to 30% off for completing the USAA SafePilot driving program
• Good student discount, which can help children or grandchildren save

USAA also provides financial advice for managing debt, planning for retirement, buying a home, saving, and investing. They offer special rates on auto loans and $0 down on ADT home security installation. Banking guidance is also available to help members manage their loans and auto insurance.

USAA has a strong customer support system, with 24/7 customer service hotlines. The company also provides discounts on hotels, cruises, shopping, vacation packages, travel insurance, and more.

Best for high-risk drivers: Progressive

Progressive is a great option for high-risk drivers, including seniors with a history of driving violations or DUIs. Progressive offers the cheapest rates for drivers with a DUI on their record, according to Forbes Advisor's analysis of rates for drivers age 65 to 80. Progressive also has lower-than-average rates for senior drivers in general and a good selection of coverage options.

Progressive's usage-based insurance program, Snapshot, measures your driving behaviour and rewards you with a lower rate if you're a safe driver. However, your rates could increase if your driving score is low. Progressive says about 20% of Snapshot drivers see their rates go up.

In addition to affordable rates for high-risk drivers, Progressive offers a wide range of features and coverage options, such as rideshare and gap insurance. However, Progressive does not offer new car replacement coverage.

Progressive is available in all 50 states and Washington, D.C., and it guarantees repairs for as long as you own or lease your vehicle when you take it to one of their network shops.

Best for good drivers: Geico

GEICO is a great option for seniors who are good drivers. GEICO has been in the insurance business for 85 years, and its auto insurance is available in all 50 states.

GEICO offers a unique contract called Prime Time for drivers over 50. This contract guarantees the renewal of your policy. To qualify for Prime Time, you must meet the following requirements:

• Be at least 50 years old
• Have no operators under the age of 25
• Have no violations or accidents in the past 3 years
• Not use any vehicle for business purposes

The Prime Time contract is currently available in 32 states, including Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oregon, South Carolina, Tennessee, Utah, Virginia, Washington, West Virginia, and Wisconsin.

GEICO also offers a variety of discounts for seniors and drivers over 50, including:

• Defensive Driving Discount
• Five-year Good Driving Discount
• Retired Government and Military Discount
• Membership and Employee Discount

In addition to these discounts, GEICO offers Accident Forgiveness in most states, which means your insurance rate won't increase after your first at-fault accident.

GEICO also offers highly-rated services, with an average of 97% Customer Satisfaction. Their benefits include:

• $700+ average annual savings as reported by new policyholders
• Car insurance discounts personalized for you
• 85 years of experience in insurance
• Easy claims filing through their mobile app or online

Frequently asked questions