Best Car Insurance For 60-Year-Olds


WRITTEN BY: Julia Matseikovich

UPDATED: NOVEMBER 23, 2022 | 3 MIN READ

Car insurance rates for 60-year-olds with good driving records will pay the lowest cost of car insurance in their lives. Statistics show drivers aged 60-69 are some of the safest on the road.

Sixty-year-olds should shop around for the best car insurance for seniors as mature drivers receive, on average, the most discounts and best rates nationwide. The discounts usually start at age 50 and increase in five-year increments.

Why Do 60-Year-Old Drivers Receive Lower Car Insurance Rates?

The methodology of deciding the safest drivers in an age group has many factors. Auto insurance companies have shown that statistically mature drivers aged 60-69 are usually married, financially stable, and own homes.

They have clean driving records, good credit scores, and are retired, so they aren’t driving as much as younger drivers. Advanced auto safety technology also plays a large part in new cars.

While drivers aged 60-69 receive some of the lowest car insurance rates nationwide, once you reach 70 years old, those rates start to increase for older drivers.

Stability

Most older drivers own a home, and dependable cars, have life and health insurance, and are married. Car insurance companies look at the stability of these factors as low risk for senior drivers in this age range.

Therefore these mature drivers receive the best auto insurance rates. They can also carry higher deductibles on their car insurance policies.

Senior Discounts

Senior citizens aged 60-69 have the most affordable rates as they typically have the most discounts attached to their home insurance and auto policies. They usually bundle home, renters, and auto insurance policies with the same insurance companies and their life insurance policies.

The driver discounts include multi-car, safe driver, low mileage discount for usage-based vehicles, clean driving history, good credit score, and defensive driving course. One of the perks for drivers age 55+ is eligible to take a mature driver course to receive a discount.

Usage-based vehicle discount

One of the factors auto insurance companies use in assessing your annual premium is the annual mileage of your vehicles. You’re usually retired when you become a 60-year-old or senior citizen driver, and your driving habits change.

Senior citizens drive less than the average motorist who commutes to work or school daily. They usually only drive during the daytime hours and when traffic is lighter.

How Does My Vehicle Factor into Auto Insurance Rates?

Technology has increased the safety of cars tremendously, allowing auto insurance companies to lower rates for more mature drivers to be able to drive for a much longer time.

As we age, our reflexes slow, our vulnerability to injury increases, and our list of medicines increases, safety features in new cars can help us adjust our driving habits.

Safety features

The IIHS has listed upgrades to new vehicles that help to reduce crashes and injuries for older drivers: such as blind spot warning lights for changing lanes, rearview cameras to help while backing up; automatic emergency braking systems; collision warning systems; these all help drivers avoid crashes.

Laws have changed

New laws, such as wearing your seat belt and requiring automakers to install airbags, have also reduced the average cost of car insurance coverage over the years. The severity of charges for driving while intoxicated has also helped considerably.

How To Find The Best Auto Insurance Over Age 60

The best way to find the least expensive auto insurance policies is to get car insurance quotes on the internet. It can also be the most frustrating. There are so many websites claiming to have the lowest rates for 60-year-olds, including USAA, AARP, and State Farm, to name a few.

There is also GEICO, Progressive, Allstate, and AAA, so it’s best to get several car insurance quotes. Auto insurance rates vary by state; they change drastically from California to Washington DC and Massachusetts to Florida.

USAA

USAA is considered the best car insurance company for seniors who have served in the military. But, you must be an active duty military member, a retired military member, or an immediate family member of a military service member.

State Farm

State Farm has been considered the best car insurance company if you’re on a budget. This company is one of the most affordable car insurance companies for seniors, with low average premiums and multiple discounts. They are known for having good customer service and claim handling. State Farm is not available in all states.

AARP (The Hartford)

The Hartford only sells car insurance to AARP members. If you belong to the AARP, you can purchase Hartford’s auto insurance policy, which has excellent coverage options, discounts, and high ratings in customer service and claim handling.

FAQs

Does car insurance go down when you turn 60?

Car insurance generally goes down when you turn 60 years old and then increases again at age 70. Ages 60-69 are the most affordable years to have a car insurance policy.

What type of coverage should a person with an older car have?

Suppose your car’s value drops to 10-15% of your annual auto insurance policy premium. In that case, you should only carry property damage liability, personal injury protection, and bodily injury liability protection for any at-fault accidents you may have. Depending on the vehicle, this typically happens when a car is at least ten years old. The older your vehicle is, the more the value depreciates.

Suppose you’re comfortable paying the total amount of the car’s actual value out of pocket. In that case, you should not pay for collision and comprehensive auto insurance coverage, as car insurance per year will outweigh the cost of replacing the car if it’s in an accident and totaled.

Does car insurance get cheaper the older you get?

The cheapest car insurance premiums happen between the ages of 25 and 69. These are the years that you’re considered low risk to the insurance providers for filing claims or getting traffic fines. Unlike younger or older drivers, these are the years you’re least likely to sustain serious injuries.

Which age group pays the most for car insurance?

The age group that pays the most in car insurance premiums is 16-21 for females and 16-24 for males. These are the ages when most accidents happen to inexperienced drivers. These are the ages when drivers take more risks and receive the most traffic offenses.

According to www.cdc.gov, teen drivers have the eight highest recorded incidents, such as driver inexperience, driving with teen passengers in the car, nighttime driving, not using seat belts, distracted driving, drowsy driving, reckless driving, and impaired driving.

What are the pros and cons of buying car insurance as a senior?

The pros of seniors buying car insurance are that you probably will receive multiple discounts, such as safe driver, multi-car discounts, bundling home insurance, etc., which can result in cheap car insurance.

The cons of buying car insurance as a senior are that your cars may be older. They have fewer safety features, increasing the car insurance premium and your risk of being seriously injured in an accident.

What are the pros and cons of car insurance for people over 60?

The pros of car insurance for people over 60 are that this is the least expensive auto insurance you will ever pay. The discounts keep piling up.

The cons of car insurance for people over 60 are that the cheap car insurance rates will only last until you turn 70, when the premiums begin to increase.

What is the average car insurance payment for a 60-year-old person?

The average rate of a car insurance premium for a 60-year-old person is $1500.00 per year or $125.00 per month for full coverage car insurance. The average rate of a car insurance premium for a 60-year-old person is $785.00 per year or $65.42 per month for minimum coverage car insurance.

Compare car insurance rates for 60-year-old drivers

While you’re turning 60 years old and worried about your car insurance, you can relax as you will receive the least expensive car insurance premiums for the next ten years. You will probably receive the most car insurance discounts ever for being an experienced, safe driver.

Remember, when shopping online for car insurance, consider all the ways you can save and the best coverages. You will want to check the car insurance providers’ ratings for customer service and claims satisfaction.

You can use our online tool to help find the best car insurance for 60-year-old drivers and drivers of any age.

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