Car Insurance Options for Seniors

Are you age 50 or above and need car insurance coverage? Read about the best car insurance options for people 50 years and up today.

Choosing the best car insurance option when you are fifty years of age or older is an important decision. As you get older and head into retirement your money takes on additional meaning, especially when it comes to saving. Older drivers tend to pay higher premiums than most other drivers on average but options for discounts and additional ways to save are available if you know how to find them. Continue reading to learn about auto insurance coverage types, discount programs and the top seven car insurance options for drivers fifty years and older.


Overview of Auto Insurance and Why Coverage Is Important

Auto insurance is a requirement in all U.S. states with the exception of New Hampshire and Virginia. Accidents happen even when no one is at fault. When they do, auto insurance is designed to pay for resulting repairs and expenses under qualifying conditions. Auto insurance coverage is of course a paid service for which drivers pay a monthly or annual premium. Premium prices are impacted by driving records, vehicle types, state regulations and driver age groups.

Repair bills for damages caused in accidents are often more than most drivers can afford out-of-pocket. Drivers on U.S. open roadways need protection against incidents caused by other drivers, unpredictable wildlife behavior, falling rocks, severed power lines and more. Some accidents are minor and result in no damages or injuries. Others unfortunately total vehicles, while also causing serious injuries, permanent disabilities and fatalities.

Various types of coverage options exist, each having a distinct level of protection. Pricing is generally structured in tiers with drivers paying higher premium prices for more extensive coverage features. Higher prices are sometimes offset by good driving records, consecutive years without an accident and bundle discounts. For example, teenagers with little driving experience and drivers under twenty-five years old pay more for car insurance premiums than older drivers who have more roadway experience. Once drivers reach a certain age, premium prices begin to increase again.

Are You 50 or Older? - These Types of Coverages Are Available for You

Car insurance is available in multiple forms. Six main types of car insurance coverages exist, each with its own way of protecting people on America’s roadways every day. Liability insurance is the minimum type of coverage each applicable state requires by law. Liability coverage includes bodily injury and property damage protection and costs approximately $500 per year on average. Additional types of auto insurance coverages include:

  • Uninsured or underinsured motorist.

  • Comprehensive.

  • Collision.

  • Medical payments.

  • Personal injury protection.

Top 7 Car Insurance Options for Seniors

#1. The Hartford is widely considered the best overall auto insurance plan for seniors today. The Hartford is an American Association of Retired Persons (AARP)-sponsored program, which has been active since 1984. Policies are only available for AARP members. A new membership only costs $12 per year, however, and its benefits and perks far outweigh its annual fee. Auto insurance through The Hartford includes a 24/7 claims hotline and a zero depreciation deduction for full replacement value on totaled cars. The RecoverCare policy helps pay for basic life expenses if you are injured in an accident. Car repair assurance, reduced deductibles with clean driving records and first-accident forgiveness are just a few more of the many benefits The Hartford auto insurance policies provide senior drivers.

#2. Geico is one of the most commonly known brand names in insurance today. The company’s rates are so consistently low they are naturally a great fit for the needs of older drivers. People aged fifty and older are offered an automatic renewal policy, which makes staying in compliance convenient and guaranteed. Qualified drivers also receive accident forgiveness. The Geico enrollment process is simple to complete entirely online. Benefits of Geico car insurance plans include multi-car, vehicle equipment and clean driving history discounts. 

#3. USAA promises service, savings and satisfaction when you purchase one of its car insurance policies. Even though the company specializes in insurance services for U.S. military members its products are also excellent choices for seniors. Flexible payment schedules and bundle discounts are available. Another great USAA benefit for senior drivers is the reduced mileage discount. The less you drive, the less you pay, which is perfect for older people who only drive on a limited basis.

#4. Metromile might not be as well known as some other companies on this list but it should be. When it comes to car insurance benefits specifically geared for older drivers, Metromile is a top choice. Policies and plans are designed for drivers who accrue fewer than ten thousand miles each year. Coverages and features are comparable to other standard car insurance policies but prices are commonly much lower. If you are a senior driver in Arizona, California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia or Washington, Metromile might be the best choice for you.

#5. Allstate claims its customers are in good hands and many senior drivers tend to agree. Allstate offers multiple discounts for senior drivers and is one of the most trusted names in car insurance today. The company rewards long-term customers with additional discounts and provides nearly any type and level of coverage needed. Active senior drivers with part-time jobs working for Uber or Lyft are even covered. Accident forgiveness, a car buying assistance program and claim satisfaction guarantees are just a few more reasons Allstate is a great car insurance company choice for drivers fifty years and older. 

#6. Accidents and traffic violations happen and Dairyland insurance understands this fact. Dairyland Insurance provides coverage to high-risk drivers, which makes some of its benefits and perks perfect for senior needs. For example, flexible monthly payment schedules are available on a pay-as-you-go basis. Six or twelve-month policies are not required. Additional benefits suitable for seniors include coverage when another driver operates your car and multiple options for discounted rates. 

#7. Hagerty is best suited for seniors who drive collectible, antique or expensive classic vehicles. Coverage for spare parts, 24/7 roadside-assistance and specialized medical coverage are all common with Hagerty auto insurance policies. Hagerty insurance even provides zero depreciation or price discrepancies in its guaranteed value coverage terms. Drivers are also invited to join the Hagerty Driver’s Club for additional benefits and discounts. 

Additional Ways to Save

Save money on car insurance by enrolling in safe driver courses and comparison-shopping several competing rates online. Raising your deductible lowers your premium, saving you money in annual expenses. Bundle your auto insurance with other policies (home, life, etc.). Finally, ask your insurer to price-match lower rates offered by its competitors.