Two elderly women driving in a car.

How to Find Affordable Car Insurance

Car Insurance for Seniors

I think that the biggest expense most of us seem to forget about when owning a car is car insurance. It can be a huge blindside when you purchase your car because the rates can be so high, especially when age is a factor. When you are a retired senior living off your pension, it is essential to budget for your car insurance and try to find the best rate with the best coverage. However, there are ways you can save as much as possible in the long-term. Let’s take a look at car insurance for seniors and what you can do to get the best quotes and deals.

Ways Seniors Can Save on Car Insurance

There are a lot of ways to save on car insurance whether you are a senior or not. Many car insurance companies will determine your car insurance rate based on:

  • The type of car you drive.
  • Your age.
  • Your gender.
  • Where you live.
  • How much you drive.

While you cannot change your age, there are some things that you can change to help reduce the cost of your car insurance premium. Where you live and how often you drive are two of the easiest things to change in order to reduce your car insurance premium. If you are thinking about moving, it is a good idea to check to see what your car insurance would be in the new neighborhood. If it will be a lot higher, this could be due to higher traffic volume and possibly car theft rates in that area. It may be a good idea to look at moving to a different neighborhood. Speaking of homes, you can also reduce your car insurance by bundling it with your home insurance.

As a senior retiree, it is quite likely that you don’t drive as frequently because you are not commuting to work. If you are putting less mileage on your car, then you should see a lower car insurance premium. Having more than one vehicle insured on the same policy can also help to reduce the cost of your car insurance. If you live with family who also own a car, it may be worth putting both cars on the same insurance policy.

Another thing that can be changed to save on car insurance is the type of car you are driving. Certain makes and models have higher insurance premiums because based on insurance statistics they are more likely to be stolen, in a car accident, or more expensive to fix if they are in an accident. If you are looking at purchasing a new car or even an older pre-owned vehicle, it is always good to call your car insurance provider to see what the difference would be in cost to insure the vehicle.

Finally, if you live in a seasonal climate, ensuring that you have winter tires on your car during the winter and all-seasons during the summer can help to significantly reduce how much you pay for car insurance.

Insurance Providers With the Best Rates for Seniors

While there are a lot of different things you can do to help with the rates you pay for car insurance, there are not many discounts for senior drivers when it comes to car insurance. In fact, it is quite the opposite actually. Most insurance rates start to increase at age 65 and can soar once you turn 80.

However, there is one company that offers car insurance rates geared towards people over the age of 50. That would be the AARP Auto Insurance Program offered through The Hartford. This insurance program boasts that it could save you up to $507. The only catch is that you have to be an AARP member in order to qualify.

Other than this specific insurance program, there are a few other companies that offer insurance rates that are generally a bit better for senior citizens. Some of those would be State Farm, Nationwide, Allstate and Geico.

While all of these companies don’t necessarily provide a discount to seniors up front, they may offer you a discount if you complete a safe driving course offered through the AARP or other senior and retirement organizations.

Comparing Different Auto Insurance Quotes

While some car insurance providers offer a comparison tool through their website, it is often best to do the comparison yourself to make sure all the information is correct.

In order to compare quotes from different companies, you will want to keep track of what each car insurance plan covers. If you really want to save money you can choose a basic plan, but keep in mind that these plans often will not cover the cost of replacing your vehicle if it is destroyed in an accident. You will also want to note if there is a discount applied, the information you have provided the insurance company with is correct and of course the price of the premium.

One of the best ways to keep track of this is to use a chart or write it all down so you can look at each quote individually. At the end of the day, you will want to make sure you are getting the most out of your car insurance premium for the best price, as well as making sure that it fits all of your wants and needs.