Jessica Sautter is a Content Writer for CarInsuranceCompanies.com with a Bachelor’s Degree from Eastern Michigan University in Elementary Education with a Major in Reading and a Minor in Mathematics.

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager

UPDATED: Sep 19, 2020

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Key takeaways...

  • Your driving history is one of the major things that insurance companies use to determine your rate
  • By insuring both your car and your home with the same provider, you can save anywhere from 10 to 25 percent, depending on the company with which you are insured
  • In order to get cheap car insurance, you need to have a good credit score

Looking for 3 tips to help you find cheap car insurance for senior citizens? They are: shop around, take a driver safety program if it’s available, and stay safe on the road.

Drivers who are past the age of 55 are in the lowest rated car insurance group, but once they get to be around age 75, the rates increase again.

Begin comparing cheap car insurance rates by filling your ZIP code into the FREE quote tool above!

Finding cheap car insurance as a senior can be fairly easy due to a number of things. Seniors have the benefit of driving experience, as well as other things that decrease their perceived risk on the road.

But it can also be difficult if you have a bad driving history or if you are losing certain physical capabilities. The key is to do as many things in your power to find a policy that is the most affordable while getting the correct amount of coverage that you need.

Table of Contents

Do Some Shopping Around

When it comes to finding cheap car insurance, the first thing you should do is start shopping around. Car insurance is a big business and this can result in finding a good price on a policy. You may be able to find a policy with the same coverage you currently have, but at a lower rate.

The Internet would be the quickest route to search for a better rate. If you have an inkling about the companies you would like to check out, you can visit their individual websites.

You can get a lot of information about the companies themselves, as well as the coverage they offer and discounts they may have.

Some insurance company sites also have separate sections for senior drivers that offer tips and resources.

An even faster way to shop for cheaper car insurance prices is to visit a website that allows you to get quotes from numerous companies at once.

All you need to do is enter the information requested, which will help the company figure out the level of risk you present.

You will then almost immediately be presented with quotes, which you can go through to find the one that will work best with your budget.

Even if you are happy with the current company you are with, you may be able to find ways to lower your rate without switching providers. It is worth the time to chat with your agent to find out what is available in terms of money savers.

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Take a Driver Safety Program

One of the concerns with seniors is an impairment on the road. Senior Resource reports that drivers who are over the age of 75 have a high rate of fatal accidents in the daytime. This is often due to physical changes and weakened driving skills.

To help older drivers brush up on their driving skills, many companies offer driver safety courses. AARP is one organization that offers this program.

As a result of taking this course or any other approved safety driving class, you may be able to receive a discount from your insurance company.

Stay Safe on the Road

The record of the driver is one of the main factors in whether your insurance premium is expensive or cheap. Drivers who have a history of accidents that they caused are going to be charged more for their coverage.

That is why driving safely is so important in order to get cheap rates on your auto insurance.

The good news is that seniors aged 55 to 65 tend to be safer drivers than others on the road.

They don’t speed as much and usually are less distracted, paying more attention to the road. Experience plays a big part in this.

The more you drive, the more you will be able to recognize risky driving situations. You tend to drive more defensively, be able to maneuver around obstacles, and stay the right amount of distance behind other vehicles.

The years of driving experience that seniors help them be safer drivers on the road. The more years you go without accidents, the cheaper your car insurance rates will be.

The lack of crashes and other traffic violations will place you in the lower risk tier, which grants you lower premiums.

Other Discounts for Seniors

Besides the driver safety course discount, it is usually easy to find other discounts through your auto insurance provider.

Because many seniors own a home, the multi-policy discount is available to most. By insuring both your car and your home with the same provider, you can save anywhere from 10 to 25 percent, depending on the company with which you are insured.

If you have been with the same insurance company for a while you may be able to benefit from lower rates. Some companies give a discount for loyal customers.

A discount may apply if you have been with a company for anywhere from at least three to five years.

Take a look at the vehicle that you drive. If it is a newer vehicle it probably has numerous safety features. Most insurance companies will give you a discount for these.

If you are in the market for a new car, follow advice from the Insurance Information Institute on what to look for in the interest of safety.

If you live in an area that tends to have more cars stolen, it may benefit you in a couple of ways to add some devices to fight against theft.

These may be audible alarms, disabling features, or tracking devices. Along with protecting your vehicle, you will also save money on your car insurance.

Check to see if your insurance provider offers discounts for members of any organizations or employees of particular businesses. This can help you save another 10 percent if you are an eligible member.

One thing that senior citizens have going for them is they usually don’t drive very much, which will help them pay less for coverage.

For some companies, the magic number of miles is 10,000, while for others it is 7,500. If you drive under that number you will usually receive a discount.

If you are retired, this is probably an easy feat since you are not commuting to work on a daily basis, nor do you have kids to tote around to all of their activities.

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Maintain Good Credit

In order to get cheap car insurance, you need to have a good credit score. Not all companies do, but most use your credit history as part of the foundation to rate your policy.

The idea is that, if you are responsible with your finances, you are more responsible on the road, and vice versa.

The use of credit histories is a plus for many seniors, as they have had years to build up and maintain strong credit.

Having a good credit score will not only help keep your car insurance rates low, but also help in other areas of your life.

It is never too early or too late to work on fixing your credit if you don’t have a good record. MyFICO can give you advice on things you can start working on immediately, as well as things you can do over time to bring your score back up.

Evaluate Coverage Needs

Sometimes your car insurance rates are high because you have more coverage than you really need. You should re-evaluate the coverage you have on your policy on an annual basis and decide if any changes could be made.

You can do this on your own if you feel that you are savvy about car insurance matters, or you can sit down with your insurance agent.

Senior drivers sometimes have different needs for insurance compared to younger drivers. If you are driving an older car, you may no longer need physical damage insurance such as collision or comprehensive.

Look up the market value of your older car through Kelley Blue Book and compare it to your deductible amount. If it is close, cancel those coverages, which will bring your insurance rate down quite a bit.

Also evaluate your deductible amount. If it has been lower, such as $500, you may want to increase it. This will lower your insurance rate.

This is especially true if you have been financially smart over the years and have large amounts of money in the bank.

If you feel that you are a safe driver and your chances of getting in an accident are low, increasing your deductible will free up more cash.

Also look at optional coverage types such as medical expenses and roadside assistance. Evaluate whether or not your current health insurance coverage would be sufficient in the event of a serious accident. If it is, you may choose to take medical coverage off of your car insurance policy.

If your policy includes roadside assistance coverage but you also have AAA or another program, you are paying double for similar coverage. You can save money by only keeping one.

As a senior citizen, there are many opportunities to find cheap car insurance. Even once you reach a certain age and rates start to increase, there are things you can take advantage of to keep your rates lower.

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