- Bodily injury liability
- Property damage liability
- Medical payments/personal injury protection (PIP)
- Uninsured motorist coverage
- Glass coverage
- Rental coverage
- Roadside assistance
- Ridesharing (only in Colorado and Illinois)
- Gap insurance
- Premier new car replacement
- Good payer discounts
- New car (up to 10% discount)
- New customers who get a quote before your current policy ends (3%-10% discount)
- Safe driver (up to 23% discount)
*J.D. Power 2020 Auto Insurance Customer Satisfaction Study, based on a 1,000-point scale. We calculated an average of combined regional scores.
Further Reading on Travelers:
Factors that affect your insurance cost
The price of insurance can be a complex thing. Insurance providers will take your age, driving history, gender, marital status and the state you live in into account. They will also look at the type of car you have, how old it is, the mileage, whether there are any safety features and how often you drive.
State’s minimum requirements
Each state will have minimum requirements for insurance coverage. These minimums must cover a certain amount for injury liability per person, injury liability per accident, property damage and more. For example, the bodily injury per person coverage required in Arizona is $25,000, whereas in Maine, it’s $50,000.
Your current financial status will also be taken into account. Insurance providers will look at job titles and working status to calculate insurance premiums. If you are retired, this could mean cheaper prices, but it will depend on the provider.
The type of vehicle you drive is also important. This is mostly for safety reasons. Generally, a larger car will be safer than a smaller car in an accident, so if you have a large pickup truck, you may get a better premium than someone with a small sports car. Engine size and safety features are also taken into account.
Your driving record will be looked at closely to see if there are any accidents, auto insurance claims or speeding tickets. If you have lots of speeding tickets and accidents in your driving history, your premiums will be higher. Those with a clean record can enjoy low premiums.
How much coverage you need
This will depend on your state minimums and whether you wish to get full coverage. Full coverage is the best protection, but it can also drastically increase the price of your insurance.
Many insurance companies will look at your credit score while pricing up your policy. Generally, those with lower scores will face higher insurance premiums. If you have managed to build up a good credit score, you could save money on your insurance. Some states made it illegal for insurers to use credit scores for pricing, but it’s not too common.
Whether you live in a busy city or a quiet suburb will determine how likely you are to have accidents or get your car stolen. Insurance providers will also look at things like high rates of uninsured drivers in your area.
Insurance providers tend to give married couples better insurance rates than single people on the basis that married people are likely to have fewer accidents. Generally, married men with clean driving records can access some of the best insurance premiums.
Gender can also affect car insurance premiums. Young men are more likely to get higher insurance prices as they are deemed more likely to be in an accident. For seniors, men are generally more likely to get better rates than senior women, but this will depend on the provider. Some states are also addressing gender bias in insurance with laws that prohibit using gender in the risk analysis.
If you have made a claim on your insurance, this will turn up in the provider’s checks. Even if the accident was not your fault, the insurance provider may note it as a sign you may need to make another claim in the future. If the accident was your fault, expect to pay higher insurance premiums as a result.
The good news with insurance providers nowadays is that most of them offer a range of discounts to lower your premiums. These can include student discounts, loyalty, new customer, senior or multi-policy discounts. If you have a clean driving record, it’s worth looking at providers such as State Farm to get rewarded for that.
Car Insurance Buying Guide for Seniors
While shopping for auto insurance may look slightly different for everyone, there are some key steps that everyone should take to find the right company for them.
Step 1: Figure out your insurance needs
The first step is to sit down and take a look at what you need. You may want to start with looking at state minimums for car insurance and then weigh up the level of coverage you want to add onto that. Full coverage is safest, but it’s also the most expensive. You should aim to get as much coverage as you can get to limit out of pocket expenses in the future.
Step 2: Compare the best auto insurance providers for seniors
Once you have a good idea of what coverage you need, do some research to find the best insurance providers available. Be sure to look at customer reviews for different companies as well as coverage options and discounts specific for seniors.
Step 3: Choose your top three providers
Once you have a good understanding of which providers are available to you, it’s time to narrow down your options. Choose two or three providers and check whether they offer coverage in your state and city. You may also want to check auto insurance companies ratings from AM Best, J.D. Power and the Better Business Bureau.
Step 4: Get quotes
Once happy with your three choices, get a quote for each one. You can do this online or by phone usually. Be sure to ask about what discounts you are eligible for. With the three quotes and your research into each company, you should be able to make a choice easily.
How to Lower your Insurance Costs
Auto insurance always costs more than we would like, but there are some simple ways to lower your costs. These include:
- Looking for providers that offer discounts: Many providers will offer a number of discounts to help you save as much as 20% of your premium. Keep your eyes open for insurers that offer discounts for seniors.
- Improve your credit score: If you know your credit score could use a little work, try to improve it for future insurance purchases, as you could lower your premium with a higher score.
- Switch your car: If you have a car that attracts high premiums, it could be time to switch it to a car that’s cheaper to insure. This could mean getting a more modern car with safety features, although you will have to weigh up the costs and whether it will save you enough on insurance for years to come.
- Pay upfront: Car insurance is usually cheaper if you pay for a year upfront rather than monthly.
Reviews.com scores products, services and companies using five quantifiable criteria to help readers choose the best one for them. For the best car insurance companies, our editorial team compared affordability, customer support, coverage options, customer satisfaction scores and online resources from each company and averaged the scores to produce our very own Reviews.com rating. These ratings were produced with you, our readers, in mind, and are meant to be a helpful tool to simplify the process of choosing which car insurance company is best for you. Since auto insurance rates vary widely among different profiles, we encourage you to continue researching options that fit your specific needs.
Car Insurance for Seniors FAQs
Some insurance providers may raise their premiums for those over 65 years old. This is on the assumption that those over 65 may be more prone to accidents and higher medical bills.
The best car insurance for seniors will depend on your personal circumstances and which providers are available where you live. Some standout companies include Allstate and State Farm, which reward drivers with a good driving history.
To save on your insurance, shop around and find a provider offering discounts. Other things you could do include reducing the amount of miles you drive or bundling your auto insurance with home insurance. In some cases, taking a driving class can help reduce your insurance premiums.
Most states have minimum car insurance laws. This is a way of proving you can pay if you cause damage to another person or property in an accident.
Some companies will offer discounts for seniors, but this is not guaranteed. Instead, there are other discounts more widely available such as accident-free or safe driver discounts that reward you for having lots of accident-free or claim-free years on your record.
Best Car Insurance company in your state