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: Oct 18, 2020

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Key takeaways...

  • Several factors that insurance companies consider work in the favor of senior drivers, giving them lower insurance rates
  • Keep in mind though that at a certain age, senior drivers become a higher risk in the eyes of insurance companies
  • Despite that, there are ways to cut down on car insurance costs, like comparing multiple policy quotes and asking about discounts

There are many reasons why it is possible to get low-cost senior car insurance.

Seniors have a lot of experience in life including driving. They also have had years to build up credit and to show financial responsibility, which bodes well for car insurance rates.

Senior drivers often own a home and are married, which helps them get cheaper car rates. They also drive less and usually drive safer, which insurance companies look at as being a plus.

There does come a point, however, when your age works against you, and you start to see your car insurance rates increasing. Your rates will also be higher if you have had a poor history of driving, regardless of your age.

If you’re concerned about your car insurance rates and coverage, enter your ZIP code above and compare at least three to four policies to find better insurance today!

Table of Contents

Seniors Have More Experience

One of the big reasons seniors can get low car insurance rates is because they have had years and years of experience driving.

Insurance providers reward drivers who are more experienced, because there is less chance that they’ll get into an accident.

When you have more experience, you can drive more defensively and know how to maneuver to avoid certain obstacles.

Experience also means that you understand the rules and laws of the road more than drivers who have only been driving for a short time.

Compare senior drivers to teenage drivers. The Centers for Disease Control reports that teenagers who have just gotten their licenses have the highest risk of crashing.

Teenage drivers have very little experience on the road, are still learning and digesting the rules of the road, and tend to be distracted easily. These reasons are partly why insurance rates for teen drivers are so high.

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Seniors Are Safer Drivers

Experience usually leads to safer driving. Seniors have learned how important it is to drive responsibly and know that, not only will it keep them safe, but it will also cut down on their insurance rates.

It is rare to find a person between the ages 60 to 80 speeding.

They also tend to take fewer risks or run the tail end of a yellow traffic light. These all play a part in the fact that most seniors will pay less for car insurance than drivers of other ages.

Seniors Drive Fewer Miles

Another reason why seniors pay less for car insurance is that they drive less. Commuters who drive every day in heavy traffic or drive 30 miles to work automatically pay more for insurance because of the higher risk of getting into an accident.

Seniors are often retired, which eliminates a job to which they regularly drive.

When you drive fewer than 7,500 miles in a year, most insurance companies will give you a discount on your insurance rates.

Seniors Have Stronger Credit

One of the things that insurance providers look at when determining a driver’s premium is credit history. Statistically, it has been shown that people with higher credit scores tend to file fewer claims, which helps the insurance company’s bottom line.

Someone’s credit history indicates financial responsibility, which also gives a good idea of responsibility on the road.

It takes time to build up credit.

Because seniors have had years to build up strong credit, their insurance rates tend to be lower.

Even if you are a younger driver, it is never too early to start focusing on your credit and raising your score. Experian has some great advice on how to start the credit-building process.

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Seniors and Marital Status

Car insurance companies take a driver’s marital status into account when determining insurance rates.

Many seniors are married, which is another sign of higher responsibility. Those who are married will usually pay lower rates than drivers who are single.

Seniors Have Had Insurance for Longer

Insurance companies look at how long you have had car insurance and if there have been any gaps between coverage.

If you are a responsible senior who has continuously insured your vehicles, you will pay lower rates, especially if you have stayed with one particular insurance company for an extended period.

Staying with one company shows loyalty and usually garners you rates that are low.

Whether you are an older driver or a younger one, the last thing you want to do is have a lapse in your coverage. A coverage gap does not look good in the insurance company’s eyes and will affect your rate negatively.

Even if you are looking around for a different policy, you should always keep your current coverage until your new policy has come into effect.

When Seniors Pay Higher Rates

Although people over the age of 55 tend to pay less for car insurance, there gets to be a point when rates start to go up again.

The Insurance Information Institute reports that, once older drivers begin to lose their eyesight, have slower reflexes, or get to be hard of hearing, their rates will increase.

The National Highway Traffic Safety Administration advises seniors to be self-aware about physical changes that may be happening.

If you keep track of the changes that are happening, you can adjust your habits on the road so that you can continue to be a safe driver.

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How to Find Low-Cost Car Insurance for Seniors

As with insurance for drivers of any age, it may take some shopping around to find the lowest rate. Because of the plethora of insurance providers, many will fight for your business. Many will do so by offering low-cost rates.

There are multiple ways to shop for a cheaper policy.

As a senior, you may not be as computer-savvy as the younger segment of the population. Using the Internet, however, is the easiest and fastest way to find lower rates. The quickest way is to go to a site like this one and type in the zip code of where you live.

You will then be asked a series of questions about your vehicle and driving habits, and what types of coverage you want. This questionnaire may take you around 20 to 30 minutes, although it will be faster if you have your current insurance declaration sheet nearby.

Once you are finished, you will be presented with quotes from multiple providers that offer car insurance for seniors.

If you have more time on your hands and you prefer to check out individual insurance websites, you can do that as well. When you go that route, you will be able to get more information about the companies.

Some insurance company websites even have separate sections for senior drivers with tips on how to keep safe on the road and keep your rates low.

You can also visit local insurance offices in your area if you want the most personal service. An agent can answer any questions you may have and offer advice on how to get a policy for the lowest price.

Take Advantage of Discounts

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One way you may be able to save money on your current policy is to ask your agent about any possible discounts for which you would be eligible. Some are specifically geared towards senior drivers, while others are general discounts for drivers of all ages.

If you are a homeowner, make sure you are insuring your home and your car together. Bundling can save you up to 20 percent with many insurance providers.

Because the driving ability of some seniors can deteriorate with age, some insurance companies will offer you a discount if you take a safety driving class or a defensive driving course.

Even if a discount is not offered by your provider, you may benefit from taking a class anyway. The rules of the road can change over time, and it would be a good idea to brush up on any of the new ones, as well as refresh the old ones.

Many insurance providers will also offer discounts for certain devices that ward off thieves which are currently in your vehicle or added to it, such as:

  • Audible alarms
  • Passive and active disabling devices
  • Devices to recover your vehicle

Safety features are also often eligible for discounts because they help prevent the vehicle from losing control in less-than-stellar road conditions, and decrease the number of injuries to the car’s passengers.

If you have been driving the same car for many years, it may be lacking many of the newer safety features. When purchasing your next car, consider buying one that ranks high in safety. You can check out Safer Car to get an idea of cars that would cost less to insure.

As a senior, you may be involved with groups or organizations. Some insurance companies affiliate with groups and businesses to offer discounts to their members or employees.

Ask your insurance company if being a member of any organizations will save you money on your policy.

Being an older driver can have its benefits and setbacks. Many things are in your favor that can garner low-cost insurance premiums.

If you’re in the market for better yet low-cost car insurance, enter your ZIP code below and start comparison shopping today!