Best Car Insurance For Seniors In 2023
There are many kinds of insurance available and most of the time it is an optional thing to purchase. However, this is not the case with auto insurance, as the law requires car owners and drivers to have such coverage. Car insurance can be very expensive, which poses a financial strain on many senior drivers.
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Thankfully, seniors have different ways they can save money on their car insurance, while maintaining reliable coverage. Many senior drivers can take advantage of special discounts, policy features and coverages that some car insurance companies have available. In addition to providing certain cost savings, these insurance companies also offer special types of coverage and policy features that are geared towards seniors. Of course, it is also important that the car insurance company is reputable and reliable, with high positive ratings. The car insurance companies listed below are considered the best choices for seniors in 2023.
State Farm
They are the largest car insurance company in the U.S. and have been ranked as the overall best car insurance company for seniors by many reviews. This is thanks to for its highly positive rated customer service, being an affordable choice for seniors, offering low average premiums, multiple discounts, accessibility, and great third-party ratings. Some of these discounts are based on safe driving record, safe vehicles (safety features and anti-theft devices) and loyal customers (length of time as a customer).
In addition, State Farm offers good discounts to seniors who bundle their car insurance with other types of insurance offered by State Farm. They offer a multiproduct discount for those who also purchase a home, condo, renters, farm, life or health insurance policy.
GEICO
GEICO is another popular nationwide provider of car insurance for all types of drivers and they provide very good prices and features for seniors. Because they operate almost entirely online, this allows them to charge lower premiums. GEICO writes policies in all 50 states and are highly ranked for good customer service. Part of their customer service is their quick and accessible claim services.
The company also offers a guaranteed auto insurance renewal program called the Prime Time contract. The program is available to drivers over the age of 50 who meet certain criteria and guarantees that your policy won’t be canceled, even if you receive multiple traffic violations.
They offer some special coverages such as: Automatic renewal for qualified senior drivers; glass breakage; mechanical breakdown and rideshare coverage. GEICO also offers various discounts: Safe driving and healthy driver discounts up to 25%; multi-car and multi-policy discounts up to 25% and modern car safety equipment discounts up to 25%.
Hartford for AARP Members
This very large insurance company offers an exclusive and special auto insurance policy to AARP members nationwide. In addition to the large number of benefits, Hartford has strong ratings for financial strength and good customer service, including claims handling and payments. This special policy includes the following:
– Emergency Roadside assistance 24/7
– Claims Hotline 24/7 by phone or online
– RecoverCare, to help pay for travel, cooking, washing, and other expenses incurred because of an injury arising from an accident
– Replacement with a new vehicle if the insured new car is totaled in the first 15 months or 15,000 miles (whichever comes first).
– 12-Month Cost cover, which for one-year locks down your auto insurance premium
– Special discounts: multi- policy discount of 20%, Lump sum premium payment discount and car safety equipment discount.
Hartford also offers some special optional coverages that many other companies don’t, such as:
• Accident forgiveness
• New car replacement
• Full glass coverage
• RecoverCare coverage
• Lifetime car repair assurance
• Gap insurance
• Disappearing deductible
• 24/7 emergency roadside assistance
USAA
If you’re a senior who previously served in the military or you’re an immediate family member of a current or former service member, you may qualify for great rates and discounts, plus their renowned customer service. They sell auto insurance in all 50 states.
Special coverages: Rideshare coverage for Lyft and Uber drivers; ability to package auto coverage with many other types of insurance coverage, including life, renters and boat insurance.
Special benefits:
– Emergency Roadside Assistance 24/7
– Towing coverage
– Accident and injury forgiveness for qualified drivers
– New vehicle purchase discounts and financing aid
Special discounts: Multi-vehicle and multi-policy discounts; new vehicle discounts, low vehicle usage (mileage) discounts.
Reducing the Cost of Insurance
Proper Driving Status: Make sure you are listed as a leisure driver – and not as a commuter. Also, ask for a low usage (miles driven) rate if you only drive your car mainly for local trips.
Defensive Driver Courses: Taking one of these courses can result in a nice discount for your auto insurance premiums. These courses are often offered by AAA and AARP for a very modest cost. Also, in some locations you can even take the course online.
Senior Discounts: In addition to AARP, there are other senior discounts through AAA membership or membership in certain other groups such as credit unions, labor unions and professional associations.
Deductibles and coverage types: The higher your deductible, the lower your premium should be. If you have adequate income or savings, do not pay for low deductibles. Also, don’t buy special or “fluff” coverages that you really don’t need – like personal property coverage (left in your car) if your homeowners or renters insurance policy already covers this.
