There are a number of different car insurance companies that cater to seniors, and it can be difficult to know which one is the best. To help you make a decision, we’ve compiled a list of the top 10 car insurance companies for seniors over 60.
Seniors over the age of 60 have different car insurance needs than other drivers. They are more likely to be retired and have a limited income, which means they need to be extra careful about how they spend their money.
Additionally, seniors are more likely to have health problems that can affect their driving, such as vision or hearing problems. As a result, they need to be sure that their car insurance policy will cover them in case of an accident.
Key Takeaways
- The top ten car insurance for seniors over 60
- Pros and Cons of the car insurance
- Answers to some most likely Frequently Asked Questions
The Top 10 Car Insurance For Seniors Over 60
The auto insurance provider you used in your 40s and 50s may not always be your most excellent option as you age. We looked at coverage options and costs from significant insurers to identify the top auto insurance providers for drivers 65 and older.
1. Nationwide
Nationwide scores averagely for customer service and performs better than average in handling complaints. The insurance cost from Nationwide is neither high nor low compared to most other insurers.
To assist you in learning more about Nationwide and other insurers on the market, it evaluates the finest and cheapest auto insurance companies across the United States. You may also use our comparison tool to compare the insurance to other businesses.
According to J.D. Power’s research, Nationwide receives an overall rating of 822 out of 1,000 for customer satisfaction. Nationwide’s reputation in this regard is marginally poorer than the ordinary insurer, with an industry average of 835. These star ratings also included data from J.D. Power.
Pros
- Provides a number of the standard discounts, including bundle, multi-car, good student, safe driver, anti-theft, paperless, and defensive driving
- It provides further savings if you select automatic payments
- Provides extra services such as identity theft protection and mechanical breakdown assistance.
Cons
- It does not provide better or newer replacement coverage for vehicles
- Does not provide airbags or discounts for full payment.
2. Progressive
Progressive gets above-average ratings for complaints and financial stability and provides exceptional discounts. However, the company’s rating for customer satisfaction is mediocre. Progressive’s prices are neither low nor costly for most drivers, but they are pricey for new drivers.
It includes resources on the cheapest and top auto insurance companies in the nation if you want additional information about Progressive and other insurance providers.
According to research from J.D. Power, Progressive receives 832 out of 1,000 customer satisfaction ratings. The average industry score in this category is 835, indicating Progressive’s standing is on par with that of a standard insurer. These star ratings were also based on J.D. Power statistics, demonstrating how Progressive performs in several distinct categories.
Pros
- Offered in 48 states
- Offers a variety of discounts, such as bundles, numerous cars, good students, safe drivers, full payment, and paperless
- Offers specialized coverages such as equipment and speciality parts (CPE)
Cons
- Costly for new drivers
- Missing popular discounts, such as those for airbags, defensive driving, and anti-theft systems
3. Farmers
The insurance firms were assessed on essential criteria to assist you in finding the finest suppliers based on your needs. Farmers had medium scores for user happiness and above-average ratings for complaints and stability. The insurer, however, received below-average ratings for discounts and affordability.
Farmers are neither inexpensive nor costly, according to our study. For additional information on Farmers and other auto insurance carriers, visit our sections on the cheapest car insurance companies and the top car insurance companies.
Additionally, you may use our tool to evaluate several insurers and choose the best option for your needs.
According to data supplied by J.D. Power, farmers received an 816 out of 1,000 point rating for customer satisfaction. Farmers’ total satisfaction rating is lower than most rivals because the industry average is 835. J.D. Power’s data are also used to calculate these category-specific star ratings.
Pros
- Offers three unique add-on coverages (OEM, bespoke components, and glass deductible modification) in addition to most of the typical add-on coverages.
- Presents sporadic discounts (shared family car, van etching, vehicle recovery system, and responsible payment)
Cons
- Expensive insurance for new drivers
4. MetLife
MetLife gets a score for complaints that are above average and an average grade for customer satisfaction. Because MetLife insurance is often more expensive than those offered by other companies, they have a lower-than-average affordability rating.
MetLife’s financial soundness ratings are excellent, which bodes well for its capacity to pay valid claims without delay. However, their scores for the caliber of customer service are typically mediocre or below average.
J.D. Power grades MetLife auto insurance as roughly average overall but persistently below average in specific regional markets. Some of the top auto insurance providers in the nation provide more enticing options, despite their features and discounts setting them apart.
Pros
- Offered in 44 states
- Several coverage add-ons, such as OEM and new car replacement
- Numerous incentives, including bundle, multiple vehicles, good student, and careful driver
Cons
- Costly for the majority of drivers
- The average score for customer service
- Does Not Provide Better Car Replacement Options Or Gap Insurance
5. State Farm
State Farm has an average reputation for complaints and an average reputation for customer satisfaction. State Farm offers affordable auto insurance for most motorists, including young drivers and those with moving violations.
State Farm ranks highly among its rivals, the auto insurance company with the most significant market share nationwide. AM Best rates State Insurance as one of the most financially stable service providers. It is among the best auto insurance providers in the country just based on that characteristic.
State Farm provides a range of discounts to drivers who reach specific criteria, but it also receives many complaints, resulting in an average customer satisfaction rating.
According to J.D. Power’s research, State Farm receives an overall rating of 878 out of 1,000 for customer satisfaction. Given that the industry standard is 835, State Farm’s reputation in this area is marginally better than that of the ordinary insurer.
These star ratings also incorporate J.D. Power statistics, which gives you an idea of their reputation in several more specialized categories.
Pros
- Provides several incentives, including student and excellent driver discounts
- Washington, d.c. And all 50 states are included.
- Provides insurance for ridesharing
Cons
- No gap insurance, deductible reduction, new car replacement, accident forgiveness, or superior car replacement coverage
- There are no special coverages like OEM
6. GEICO
Regarding pricing, stability, and savings, GEICO offers outstanding ratings. It also has an above-average rating for customer satisfaction. The company does provide reasonably priced auto insurance, despite its mediocre complaint score.
The top auto insurance providers in the U.S. are ranked by rating agencies, including J.D. Power, AM Best, and the National Association of Insurance Commissioners (NAIC). The majority of rankings for GEICO auto insurance are acceptable, but their financial soundness is excellent.
J.D. Power data show that GEICO has 843 out of 1,000 scores for customer satisfaction. GEICO’s reputation in this area is marginally better than a typical rival because the industry average is 835. These star ratings were likewise based on J.D. Power data, which evaluated GEICO’s performance in several categories.
Pros
- Affordable coverage for all drivers
- Offers a variety of deals, some of which are exclusive.
Cons
- Does not provide coverage for the purchase of a new or better automobile.
- Average marks for resolving complaints
7. Allstate
Allstate has an average customer satisfaction rating and an above-average complaint rating. Allstate is neither inexpensive nor expensive for most drivers, but it offers some of the most affordable rates for teen drivers.
With 82 out of 100, Allstate is ranked seventh on MoneyGeek’s list of the best auto insurance providers.
MoneyGeek used ratings and comments from reputable sources like the NAIC, AM Best, and J.D. Power for its list. Due to the various insurance discounts, it provides for young drivers, Allstate is a fantastic option.
J.D. Power data show that Allstate achieved 829 out of 1,000 customer satisfaction ratings. Allstate’s ranking is comparable to that of the ordinary vehicle insurance provider because the industry average is 835.
Pros
- Affordable for new drivers
- Provides sound system coverage and specialized elements.
- Washington, d.c. And all 50 states are included.
Cons
- Doesn’t provide regular discounts like those for multiple vehicles or defensive driving
- No superior auto replacement insurance
8. Travelers
Travelers receive a fair amount of customer complaints, but it has an excellent reputation for customer satisfaction. Travelers are neither inexpensive nor expensive for auto insurance: When a teenage driver or someone with a speeding ticket is involved, MoneyGeek discovered that it is reasonably priced for full or primary coverage.
Several organizations, including AM Best, J.D. Power, and the National Association of Insurance Commissioners, have rated Travelers car insurance. The business has outstanding ratings for both customer happiness and financial stability.
Travelers may be the most significant auto insurance provider for individuals looking for a highly reputable firm.J.D. Power statistics indicate that Travelers has 865 out of 1,000 scores for customer satisfaction.
Travelers have a better reputation than the average insurer in this region, scoring above the industry average of 835 points. These star ratings were also based on J.D. Power’s statistics, providing you a glimpse at how the business performs in some more specialized categories.
Pros:
- New car, loyalty, homeowner, and hybrid vehicle discounts are special offers
- Add-on coverages include roadside help, accident forgiveness, new car replacement, and gap insurance.
- Offered in 31 states
Cons:
- No change to the deductible or more excellent coverage for car replacement
- Illinois and Colorado are the only states that offer rideshare insurance.
9. The Hartford
Hartford and AARP have a partnership to offer senior automobile insurance just to members. Seniors can receive a few free extra benefits for coverage from The Hartford, including:
Buying a new car instead: replace your totaled vehicle with a new one with the same make, model, and age.
Assistance following an accident: Hartford’s RecoverCare policy provides $2,500 in coverage for additional costs. This money can be spent on transportation, home upkeep, pet care, and food preparation.
For a fee, drivers can buy extra coverage and perks like rental car reimbursement after an accident, disappearing deductibles, roadside assistance, and accident forgiveness.
Although Hartford doesn’t offer the most affordable insurance rates for seniors, it is only $9 more expensive annually than the national average. Additionally, you might be eligible for further reductions, such as savings for paying for your auto insurance all at once or bundling your plans.
Pros:
- Free new automobile replacement insurance is available to AARP members.
- Accident forgiveness is available, and the deductible is dropping
- Just for being an AARP member, you can receive special savings
Cons:
- The average price for seniors
10. MAPFRE
We discovered that MAPFRE offers the most affordable senior auto insurance prices out of any organization. The average monthly premium for drivers over 60 is $77 ($929 annually), which is $642 less than the national average.
If senior drivers on a tight budget and seeking the lowest rates are eligible for some of MAPFRE’s offered discounts, their auto insurance costs could be reduced even further. Senior drivers could save money with MAPFRE by:
- driving fewer miles per year than usual
- the adoption of paperless billing
- driving safely by avoiding collisions
- taking a course on defensive driving
- Purchasing MotionSmart insurance from MAPFRE
Additionally, drivers can enhance their insurance coverage with accident forgiveness, disappearing deductibles, emergency roadside assistance, and rental car reimbursement.
Pros:
- Elderly drivers’ average prices are the lowest
- discounts for electronic billing, full payment, and more
- Accident forgiveness that is optional and a shrinking deductible
Cons:
- doesn’t provide insurance in all states
Conclusion
The most affordable firm for drivers over 60 is MAPFRE. MAPFRE offers auto insurance for older drivers for about $71 a month, although the average cost of coverage among the top five providers is less than $100 a month.
According to our research, seniors’ auto insurance typically costs $132 per month or $1,583 annually. But regional differences in average vehicle insurance rates are substantial.
Seniors in Ohio pay an average of just $79 per month for auto insurance, making it the state with the lowest rates. In Louisiana, the average cost of senior auto insurance is $225 per month, which is $1,757 more than in Ohio.
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FAQS
Does Car Insurance Go Down When You Turn 60?
As a result, 60-year-old drivers typically pay less for auto insurance. According to Bankrate’s 2021 analysis of typical yearly premiums, the average cost of full coverage auto insurance for drivers 60 years old is $1,544.
What Type Of Coverage Should A Person With An Older Car Have?
(Lenders often demand collision and comprehensive insurance if you’re still making payments on your car, according to the NAIC.) Changing these coverages for your older vehicle may be an option, depending on your needs and financial situation. Your car is protected by collision and comprehensive coverage.
Does Car Insurance Get Cheaper With Age?
Typically yes. At Progressive, premiums start to decrease at age 25 by 9%. Your claims history, for example, is one of several cost factors that affect the price of your auto insurance. Therefore, your rate might not go down if you have an accident just before turning 25.
Does Car Insurance Go Up At Age 70?
“While auto insurance costs do decline as you age, they begin to rise between the ages of 70 and 75. This is because vehicle insurance companies view drivers over 70 as more dangerous.
Does Married Or Single Pay More For Car Insurance?
Single folks pay more for vehicle insurance than married people. Compared to single drivers, married couples save $123 on full auto insurance per year, a 5% savings. Rates are the average annual rate for full coverage insurance.
Which Age Group Pays The Most For Car Insurance?
Statistics show drivers under 25 and those over 65 pay more for auto insurance. Teenagers have the highest premiums of any age group because of their three times greater crash risk than drivers 20 and older.
You can learn more from the video below:
About Author
- I am a professional article and e-book writer with 4 years of experience, I write on well research content on cryptocurrency, stocks, loans and finances.
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