As my grandpa got older, he started noticing his car insurance rates were going up instead of down. Even though he has a clean driving record and drives fewer miles than before, his premium kept increasing. Like many seniors, he assumed that car insurance rates should drop with age—but that’s not always the case.
After researching car insurance for senior citizens, we discovered that some insurers offer special discounts for older drivers, while others increase rates after a certain age. By switching providers, adjusting his coverage, and applying senior discounts, my grandpa was able to reduce his car insurance costs by nearly $500 per year!
If you’re a senior citizen looking for affordable car insurance, this guide will help you:
Find the best car insurance companies for seniors Apply for senior discounts and other money-saving options Use smart strategies to lower your monthly premium
Why Do Car Insurance Rates Change for Seniors?
Car insurance rates tend to decrease as you gain experience but may increase again after age 65–70.
Lower Rates Before 70 – Most insurers offer lower rates for mature drivers (ages 50-65) due to their experience behind the wheel. Rates May Increase After 70 – Insurance companies may view older drivers as higher risk, leading to higher premiums after age 70–75. Mileage Matters – Many seniors drive less, and some insurers don’t adjust rates accordingly unless you ask.
Example: My grandpa’s premium jumped by $20 per month after he turned 70, even though he hadn’t made any claims.
Best Car Insurance Companies for Senior Citizens
We researched top insurers that offer discounts and affordable rates for seniors.
| Insurance Company | Best For | Estimated Monthly Cost | Senior Discount? |
|---|---|---|---|
| GEICO | Best overall for seniors | $85 – $150 | Yes |
| The Hartford (AARP) | Best for AARP members | $90 – $160 | Yes |
| State Farm | Best for bundling with home insurance | $95 – $170 | Yes |
| USAA | Best for military veterans | $80 – $140 | Yes |
| Progressive | Best for low-mileage drivers | $100 – $180 | Yes |
Quick Breakdown:
- GEICO & The Hartford (AARP): Best for senior discounts and low rates.
- State Farm: Best for seniors who want to bundle home & auto insurance.
- USAA: Best for military veterans and their families.
- Progressive: Best for seniors who drive less than 7,500 miles per year.
Example: My grandpa switched from Allstate to GEICO and saved $40 per month with a senior discount.
How to Lower Car Insurance for Senior Citizens
1. Ask About Senior Discounts
Many insurance companies offer discounts specifically for drivers over 50–55.
Mature Driver Discount – Available for drivers 55+ with a clean record. Defensive Driving Course Discount – Some insurers lower rates if you take a state-approved driving course. Low-Mileage Discount – Seniors who drive less than 7,500 miles per year can save 5-15%. AARP Membership Discount – Some insurers, like The Hartford, offer exclusive savings for AARP members.
Example: My grandpa took a defensive driving course and saved 10% on his policy—a total of $180 per year.
2. Switch to a Policy with Low-Mileage Pricing
If you drive less, you should pay less! Many seniors don’t drive as much as they used to, but insurers may not adjust rates automatically.
Best Pay-Per-Mile Insurance Providers for Seniors:
- Metromile – Best for drivers under 10,000 miles per year.
- Nationwide SmartMiles – Great for work-from-home or retired drivers.
- Allstate Milewise – Best for occasional drivers.
Example: My grandpa drove only 5,000 miles per year, so he switched to Metromile and saved $300 annually.
3. Compare Quotes from Multiple Providers
Insurance rates can vary by hundreds of dollars depending on the provider.
Best Websites for Comparing Senior Car Insurance Quotes:
- The Zebra – Compares over 100 insurance companies instantly.
- Policygenius – Best for finding customized discounts.
- Insurify – Best for personalized recommendations.
Example: My grandpa used The Zebra to compare quotes from GEICO, Progressive, and The Hartford—GEICO was $35/month cheaper.
4. Adjust Your Coverage Based on Your Needs
If you have an older car, you may not need full coverage.
When to Keep Full Coverage: If your car is new or worth more than $5,000. When to Switch to Liability-Only: If your car is paid off and worth less than $5,000.
| Coverage Type | When to Choose It | Estimated Monthly Cost |
|---|---|---|
| Liability-Only Coverage | If your car is worth less than $5,000 | $50 – $120 |
| Full Coverage (Collision & Comprehensive) | If your car is new or financed | $120 – $250 |
Example: My grandpa switched to liability-only on his older Toyota Camry and saved $50 per month.
5. Consider Bundling Home & Auto Insurance
Bundling your policies with the same provider can save you 10-30%.
Best Companies for Bundling Discounts:
- State Farm – Save up to 25%.
- Allstate – Save 10-20%.
- GEICO – Save 10-15%.
Example: My grandpa bundled his home and auto insurance with State Farm and saved $20 per month.
Final Thoughts: How My Grandpa Found Affordable Car Insurance as a Senior
After researching different providers, applying senior discounts, and adjusting his coverage, my grandpa was able to: Find a policy that fit his budget and driving needs. Lower his premium by switching to a provider with better senior discounts. Keep the coverage he needed while saving over $500 per year.
Final Cost Breakdown: Before Shopping Around: $180/month After Applying Senior Discounts & Switching Providers: $135/month Total Savings: $540 per year
Bottom Line: If you’re a senior citizen looking to lower your car insurance, the best way to get the lowest rate is to: Compare quotes from multiple insurers that offer senior discounts. Apply for defensive driving, low-mileage, and AARP discounts. Adjust your coverage if you drive an older car. Consider switching to a pay-per-mile policy if you don’t drive often.
By following these steps, my grandpa saved over $500 per year while keeping full coverage that met his needs!
* This article was originally published here