Car insurance for seniors

Best auto insurance for seniors

Bankrate’s insurance editorial team obtained average premiums from Quadrant Information Services for dozens of auto insurance companies. However, we know that the best car insurance companies for senior citizens don't only offer low rates. We also analyzed coverage availability, discount opportunities, digital tools, financial strength ratings from AM Best and customer satisfaction scores from J.D. Power. These factors all contributed to each company's assigned Bankrate Score, out of five points.

If you are looking for the best car insurance for seniors, you might start by getting quotes from these five carriers:

How much is auto insurance for seniors?

On average, 70-year-old drivers pay $2,608 per year for full coverage car insurance. This is lower than the national average cost of car insurance, which is $2,670 per year for full coverage. For minimum coverage, 70-year-old drivers pay an average of $813 annually, just slightly above the $773 annual national average.

However, keep in mind that car insurance rates are based on more than a dozen individual rating factors. Your rates may be higher if you have accidents or speeding tickets on your record, if you drive a luxury or sports car or if you live in an area with high instances of extreme weather or theft, among other reasons.

Do seniors pay higher rates for auto insurance?

Seniors can pay higher rates for auto insurance than younger adults, but that is not always the case. The average full coverage car insurance premium for 70-year-old drivers is about 2 percent less than the U.S. national average rate for all drivers. For minimum coverage, 70-year-old drivers pay about 5 percent more than the U.S. average.

While average rates can help you understand what you might pay for car insurance, age is just one of the factors that can affect your premium. For seniors, the cost of car insurance will also depend on location, credit history, driving record, marital status, vehicle type, coverage limits, deductibles and other rating factors.

How seniors can save on car insurance 

If your rates have started to increase as you enter your 70s, you may be looking for ways to save on your car insurance. Fortunately, there are a few strategies you could try to potentially bring down your premium:

• Shop around: Every insurance company has its own algorithms for calculating rates, so you may receive lower or higher quotes for the same coverage selections from different carriers. Requesting and comparing quotes from a handful of carriers may help you narrow down which one can offer you the lowest rates for your circumstances.
• Maintain a clean driving record: Your driving record is a key metric used by car insurance companies to determine your rates. Avoiding accidents and tickets may help keep your rates down and even potentially offset age-related premium increases.
• Evaluate your coverage selections: If you've recently retired, you might be driving substantially less than you used to. Reviewing your stated annual mileage and coverage selections may help you ensure you have the right amount of coverage in place and aren't overpaying for insurance. Speaking with a licensed insurance agent may help you pinpoint your needs and secure better rates.
• Consider increasing your deductible: If you have enough savings to cover a higher deductible in the event of a claim, adjusting your full coverage deductible (e.g., from $500 to $1,000) may result in lower premiums.

Car insurance discounts for seniors

Many car insurance companies offer discounts that can help drivers reduce their car insurance premiums. While most carriers do not offer savings for seniors specifically, you might be able to find discounts for retired drivers or people over a certain age who complete a defensive driving course. When comparing car insurance companies, it’s a good idea to consider the discounts available so you can maximize your savings and get the best rate possible.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze February 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 are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $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 70 (base: 40 years) applied. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Bankrate Scores

Our 2025 Bankrate Score for auto insurance considers key variables that our insurance editorial team determined impact policyholders’ experiences with an insurance company. These factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto insurance companies satisfy these priorities, our team analyzed quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC). 
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated the discount options listed on each company’s website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored in a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.