Car insurance for 60-year-olds

How much does car insurance cost for 60-year-olds?

Based on research by Quadrant Information Services, the average cost of car insurance for a 60-year-old individual on their own policy is $2,422 annually for full coverage, while state-mandated minimum coverage averages $749. Both these rates are below the national averages, which are $2,685 for full coverage and $800 for minimum coverage. Note that age cannot be used as a rating factor in two states, Hawaii and Massachusetts, although carriers in Massachusetts may take into consideration the number of years you have had a license.

You may also want to keep in mind that, while important, age is not the only factor that can impact the average cost of car insurance. Car insurance underwriting models typically use more than a dozen rating factors when determining your premium, such as your location, driving history, vehicle type and, in most states, your gender and credit history. Still, average premiums may provide a baseline to help you decide if a quote is competitive while shopping around for affordable coverage.

Car insurance for 60-year-olds by state

Where you live has an impact on your car insurance rates. Each state’s minimum car insurance requirements affect the cost of insurance based on how much coverage you need to drive legally.

Florida, Michigan and New York are among the most expensive places for car insurance, partly because they’re no-fault states. In a no-fault state, each driver pays for their own medical bills regardless of fault. In these states, drivers must buy PIP insurance to account for these laws. No-fault states also have a high level of litigated claims compared to at-fault states, which can drive up the cost of coverage.

Additionally, differences in weather patterns, vehicle crime rates, accident frequency, uninsured motorist rates, population density and more make some states riskier to extend coverage in than others. For instance, Floridians may be more likely to file comprehensive claims because of the state’s propensity for flooding and hurricanes.

Car insurance rates for 60-year-olds by gender

Car insurance at age 60 for female drivers is generally lower than insurance for male drivers of the same age. Female drivers typically practice safer driving habits and tend to get into fewer accidents than males. In 2022, males aged 60 to 64 had an accident fatality rate of 10 per 100,000 people. This is quite a bit higher than the fatality rate for 60- to 64-year-old women (4.5 per 100,000 people). But the difference between genders usually narrows as drivers age further, and so do fatality rates.

However, not all states consider gender when determining your insurance premium. In California, Hawaii, Massachusetts, Michigan, North Carolina and Pennsylvania, carriers are not allowed to consider your gender when calculating your insurance premium.

What is the cheapest auto insurance for seniors?

When looking for the best cheap insurance companies for 60-year-old drivers, Bankrate's insurance editorial team looked beyond average rates. We chose providers based on diverse factors, including financial strength, customer satisfaction, digital tools, coverage options and advertised discounts.

Based on our findings, some insurance carriers provide better rates to older, experienced drivers. Our research shows that the carriers below offer some of the cheapest car insurance for 60-year-olds.

How 60-year-old drivers can save on car insurance

When approaching retirement age, budgeting can be essential for maintaining your quality of life. With that in mind, we’ve compiled a list of strategies that may help you save money on car insurance and take some of the pressure off your budget.

• Bundle insurance policies: At 60, you might have multiple types of coverage, such as home and auto insurance. Consolidating them under one provider could yield multi-policy discounts that simplify insurance management and lower overall costs.
• Maintain a clean driving record: As an experienced driver, staying ticket and accident-free could make you eligible for safe driving discounts and help keep your rates low.
• Review vehicle usage: With potential changes in driving habits, like reduced commuting or leisure travel, consider adjusting your policy for lower mileage. This can qualify you for low-mileage discounts or pay-per-mile policies, both of which cater to drivers logging fewer miles.
• Apply all eligible discounts: Almost every insurer offers at least a few discounts, and they can be easy to earn. Older drivers may find a discount available, for example, if they take a defensive driving course. Others offer discounts if you belong to a particular professional organization or alumni group.
• Choose your vehicle carefully: If you're in the market for a new vehicle, comparing sample quotes for the models you're considering could help you find one with low coverage costs. Safety features might earn you additional discounts.
• Monitor your credit: Maintaining good credit becomes beneficial for reducing insurance costs at any age. If you've spent decades building creditworthiness, continue managing it carefully to retain or enhance lower insurance premiums.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2025 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates for our base profile are based on the following characteristics and full coverage limits with bundling and paperless billing discounts applied:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2023 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Age: Rates were calculated by evaluating our base profile with age 60 (base: 40 years) applied. Drivers are homeowners. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Gender: The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, North Carolina, Pennsylvania.