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Best Car Insurance for Seniors

State Farm tops our list for the best car insurance for seniors

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Every driver needs car insurance, but as you get older, your coverage needs can change. Retirees may find themselves driving less, moving to a new state, or buying a vehicle that meets a more scaled-down lifestyle. There are a lot of insurance carriers on the market, so finding the best car insurance for seniors can take some work. 

We reviewed the top auto insurers to find out which ones provide senior drivers with comprehensive coverage, a variety of endorsements, and generous discounts for a cheaper premium. We also considered customer service, ratings from third-party firms, and options for managing your policy online or on your smartphone.

Read on to learn more about our top auto insurance picks for drivers over 50.

Best Car Insurance for Seniors for 2022

Best Car Insurance for Seniors
Best Car Insurance for Seniors

Best Overall and Best for a Budget : State Farm


State farm

 State farm

Why We Picked It

State Farm, the largest car insurer in the U.S., is our top pick for seniors, and it's also our pick for best budget insurer for seniors.

The insurer, which is highly ranked in several U.S. regions for its customer service, is an affordable choice for seniors, offering low average premiums, multiple discounts, accessibility, and great third-party ratings.

The average annual premium for drivers aged 67 is $880.

Company Overview

We chose State Farm as the best overall car insurance provider for seniors, and the best provider for seniors on a budget. Based on our research, State Farm offers some of the cheapest premiums for older drivers. State Farm’s average rate for 67-year-olds is $880 per year for full coverage insurance, which comes out to about $73 per month.

State Farm also offers many discounts for seniors who want to get an even better deal on their car insurance. You can get discounts by:

  • Maintaining a clean driving record
  • Taking a defensive driving course
  • Bundling your policies
  • Enrolling in the Drive Safe & Save program
  • Having a car with advanced safety features
  • Having an anti-theft device in your vehicle

Although State Farm's selection of discounts is impressive, some are only available in certain states. Senior drivers in California can take a mature driver improvement course to access a discount, but this is not offered in most other states.

On the downside, State Farm's add-on coverages fall short of its competitors' offerings. The add-ons the insurer does offer include:

Another mark again State Farm is that coverage is not available everywhere. Seniors can purchase State Farm auto insurance in every state and Washington, D.C., except  Massachusetts and Rhode Island.

Pros & Cons
Pros
  • Many discounts available

  • Low average premium for seniors

  • Highly ranked for claims and overall customer satisfaction


Cons
  • Few add-on coverages available

  • Coverage not available nationwide

  • Discounts vary by state

Best for Veterans : USAA

The Balance's Rating
4.5

USAA

USAA

Why We Picked It

Senior drivers who have served in the military can take advantage of USAA's low auto insurance rates and its renowned customer service. USAA only offers car insurance to active or retired military members and their immediate families, but if you qualify, you'll get a great premium. The insurer's average premium for 67-year-old drivers is $772 per year, the cheapest based on our research.

USAA also made our list for best motorcycle insurance.

Company Overview

USAA offers deals and discounts to active duty or retired military members and their immediate families.

The caveat is that you must meet the insurer's military service requirements. But if you're a senior who previously served in the military or you're an immediate family member of a current or former service member, you may qualify for great rates and some solid discounts.

Our research showed the average annual full coverage car insurance premiums for 67-year-old drivers is $772, the cheapest car insurance for seniors on our list.

Seniors may also qualify for discounts, including those for:

  • Insuring multiple vehicles
  • Maintaining a clean driving record
  • Driving under a certain annual mileage
  • Taking a defensive driving course
  • Participating in the SafePilot driver program
  • Having a newer vehicle

Where USAA falls short is the availability of add-ons. In fact, the only add-on policies we could find were for roadside assistance and rental car reimbursements, pretty meager add-on offerings.

Still, if you qualify, you won't find a better rate and some of the discounts are particularly attractive to senior drivers.

Pros & Cons
Pros
  • Very affordable premiums for seniors

  • Excellent discounts available

Cons
  • Must meet military eligibility requirements

  • Few add-ons available

Best Membership Option : The AARP® Auto Insurance Program from The Hartford

The Balance's Rating
4.2

AARP/The Hartford

 AARP/The Hartford

Why We Picked It

The Hartford provides car insurance for AARP members, who must be 50 or older. AARP Auto Insurance Program from The Hartford is designed specifically for older drivers and offers several ways to keep rates lower through discounts or policy features. 

You'll need an AARP membership to qualify for this auto insurance, and that costs $12 for the first year and $16 thereafter. Even so, you can save money with multiyear memberships through auto-renew and other discounts. Policyholders with The Hartford will see some fairly standard benefits with their auto insurance, such as lifetime guarantees on repairs from authorized repair shops.

But depending on your state, you’ll also have unique perks, such as replacement coverage for a new car or RecoverCare, which offers reimbursement to help you pay for cooking, cleaning, or other help you need after an accident.

Company Overview

The AARP® Auto Insurance Program from The Hartford is our top pick for senior drivers who are AARP members. Since AARP caters to the needs of seniors, drivers 50 and over can find good deals on their premiums and perks they might not have access to from other insurers.

The Hartford only sells car insurance to active AARP members, so if you aren’t a member you have to join the organization and pay the annual membership fee before you can apply for a car insurance policy.

The Hartford stands out for its add-on coverages, something the other two providers on this list lack. If customization is important to you, this is a great provider. Some of its endorsement policies include:

  • Accident forgiveness
  • New car replacement
  • Full glass coverage
  • RecoverCare coverage
  • Lifetime car repair assurance
  • Gap insurance
  • Disappearing deductible
  • 24/7 emergency roadside assistance

Despite these perks, The Hartford offers fewer discounts than some of the providers we reviewed. But you can save up to 10% for just being an AARP member. The Hartford provides discounts for:

  • Having antilock brakes and airbags
  • Having a hybrid or electric vehicle
  • Taking a defensive driving course
  • Bundling a home and auto policy
  • Paying your annual premium in full

On the plus side, the company has excellent claim satisfaction ratings and fewer customer complaints than average, according to the National Association of Insurance Commissioners (NAIC). The Hartford is available in all 50 states and Washington, D.C. 

Pros & Cons
Pros
  • Unique benefits like RecoverCare

  • Designed specifically for drivers over 50

Cons
  • Requires an AARP membership, which is a separate cost

Who Is Considered a Senior?

When it comes to car insurance, there’s no solid definition of “senior” or “older adult.” Some companies, like The Hartford, only offer car insurance to AARP members aged 50 or older, while others offer special discounts to drivers over a certain age. But most car insurance companies simply include age as one factor in their overall calculation of your premium. That means that car insurance is one area where you likely won’t get to enjoy a senior discount just for passing a milestone birthday.

How Is Auto Insurance Different for Seniors?

Auto insurance coverage works the same for older adults as it does for people of other ages. The only difference may be the cost. Older adults may qualify for discounts based on age or by taking extra measures such as completing a safe driving course or driving less. Other discounts through your insurance coverage—such as accident-free premium reductions—will work the same as they did before you qualified for seniors’ auto insurance discounts. 

What's the Average Car Insurance Cost for Seniors and Older Adults?

Although individual personal factors, driving history, and location will affect your car insurance costs, in general, your premiums should decrease or stabilize as you get older. Statistically, adults in their 50s and 60s get the best car insurance rates. As you age, you may be able to qualify for better rates based on:

  • The number of discounts you qualify for
  • Your driving experience
  • Hopefully fewer claims
  • Driving less once you retire

As always, we recommend comparing quotes from several insurers to see which ones offer you the best combination of coverage and value for your situation.

Drivers in their 70s may notice rising premiums because of a higher likelihood of accidents. For example, our research revealed increases of $300 to $500 on average from ages 60 to 75, and Progressive notes that rates start to increase for drivers aged 75 and up. If you’re in or approaching your 70s, it may be even more worthwhile to compare quotes from your current company as well as a few others.

How We Chose the Best Car Insurance for Seniors

In evaluating the best car insurance for older drivers, we looked at each insurance company’s performance across categories, including stability and reliability, customer satisfaction, claims service, complaints, and product offerings. We researched each insurance company’s financial strength using AM Best’s ratings

We also considered each insurer’s reputation using various websites and independent studies, including the 2022 J.D. Power Auto Claims Satisfaction Study, Auto Insurance Study, Insurance Shopping Study, and Digital Experience Study. These rankings offer insights into each insurer's reputation for customer service and claims.

Next, we checked each insurer’s website for the discounts and benefits that best suit older adults’ lifestyles. We found the companies that offered the best opportunity to earn perks or rewards while providing fair pricing and discount opportunities. Finally, we weighed each insurer’s biggest strengths to decide who might be happiest with each of our top picks. As always, we recommend comparing quotes from several insurers to find the best value and coverage for your situation and location.

A man in a straw fedora looks adoringly at his wife as they drive a convertible

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Article Sources
  1. Insurance Information Institute. "Facts + Statistics: Auto insurance."

  2. Progressive. "How Age Affects Auto Insurance."

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