There is no such thing as “the best car insurance.” Rather, what you should look for when seeking a policy is “the best car insurance for you.” That’s because rates, deals, and benefits will vary depending on what part of the country you call home, what your driving record looks like, and your age. But age may be your secret to success — because the older you are, the chances of you getting a better deal on car insurance are really strong. It’s often called a Mature Driver Discount. And the trick to getting it? Knowing where to look for the best deals around.
Regardless of age, if you’re trying to narrow your options, you need to consider things like the insurance company’s average annual rate, customer service ratings, and individual perks. With that in mind, here are some of the best car insurance deals for seniors in 2021.
USAA is widely considered as one of the best car insurance companies, though coverage is limited to current and former military members and their families. That last part is key, because the mistake people make with USAA is assuming that because they didn’t serve, they’re intelligible. However, if someone in your family served — a child, for example — you can still qualify. And, if you can take advantage of USAA then do it because this excellent insurer offers a lot of options for seniors. Their average annual premium for an adult is only $1,169, but the rate goes down with age and good driving record. Plus, customers regularly give USAA high marks for its simple claim-filing process.
Geico frequently appears on the top of insurance ranking lists, and for good reason. NerdWallet reports that Geico offers the cheapest minimum coverage and is the best choice for drivers with poor credit. Geico also has a unique Prime Time contract for people over 50 that offers big savings. To qualify for GEICO’s Prime Time contract you must:
- Be at least 50 years old
- Have no operators under the age of 25
- Have no violations or accidents in the past 3 years
- Not use any vehicle for business purposes
State Farm does not give a senior discount at this time nor do they offer a State Farm loyalty discount, though these are common with some other insurers. However, they do offer other discounts, and an affordable annual rate, with customers paying $1,491/year on average. But the real reason they’re on this list is because State Farm offers the cheapest rates for drivers after an at-fault accident. That means, in the unfortunate case of a collision, your State Farm rates will not inflate out of control. U.S. News & World Report also notes that State Farm customers find the claim-filing process quite simple to navigate.
Like State Farm, Progressive doesn’t offer a distinct Mature Driver discount, but there are many reasons why older drivers use them. To start, they offer an average annual rate of $1,562, which is still one of the lowest yearly premiums. They also offer the usual discounts and insurance bundling options you’ll find with other companies. But what sets it apart from its competitors is that it is the cheapest option if you have a previous DUI. (Of course, you should never drink and drive, but if you have made the mistake in the past, Progressive might be your best choice).
Another big win for older drivers is that Progressive allows potential customers to compare prices. There’s also the Name Your Price tool, where you enter the amount you want to pay for your car insurance and they show you what kind of coverage is available in that price range. From there you can play around with options to find a rate that fits your budget.
Finally, Progressive offers a usage-based insurance program called Snapshot that may reduce your insurance cost if you tend to drive safely — and with years of driving under your belt you have a lot to show for it. (That said, about 20% of participants who try out Snapshot see an increase, so make sure you’re actually a good driver before you sign up.)
Farmers stands out because it offers many customizable options through its website. Offering home coverage in addition to car insurance, Farmers lets you choose specific add-ons to your policy to best fit your needs. Such options include new car replacement, accident forgiveness and loss of use, which covers the cost of public transit or a rental when your car is in the shop.
Farmers also offers the Senior Defensive Driver Discount: To qualify for this discount, you must be at least 65 years of age or, in some states, 55 years of age and have successfully completed a Driver’s Education course approved by the Department of Motor Vehicles. It’s a small task to take on for big savings over the year.
Don’t Forget Discounts!
When looking for the best car insurance deals for Seniors in 2021, be aware that most companies offer discount rates if you do one of the following:
- Multi-policy discount (bundling things link home insurance with your policy)
- Multi-car discount
- New car discount
- Anti-theft features in the car
- Good driver discount
- Pay-in-full discount
- EFT discount (paying via electronic transfer which saves the company on banking fees)
- Occupational discounts (military, first-responders, etc.)
- Alumni association/professional organizations
- Usage discount (if you don’t drive often)
Finally, some companies offer great online quote discounts — if you got the quote online before talking to someone. So doing a search online is a smart starting place.