Auto insurance for seniors can be expensive, but there are several ways to reduce premiums. One option is to increase the deductible on your policy. However, if you are not able to afford this amount, your reduced rates won’t be worth it. Another option is to bundle your insurance policies with one company.
There are several companies that offer auto insurance for seniors. One of the best is USAA, which focuses on military and veteran customers. This company is also one of the cheapest. You can get full coverage for just $1,027 per year – about $85 per month – and minimum coverage for $343 a year.
Geico also offers affordable car insurance for seniors in most states. The company is transparent about discounts and offers many ways to save on premiums. However, it does not offer as many optional protections as its competitors. Still, it offers the basic necessities of car insurance for seniors, including rental reimbursement. Its customer service is second to none. Its policy is easy to use and claims are often handled quickly.
State Farm is another option to consider for seniors. It offers a number of insurance products and discounts, and also has a national availability. While it is not the cheapest auto insurance for seniors, the service and claims process are generally excellent. Moreover, you can sign up for a Prime Time contract, which guarantees you won’t have to pay for multiple traffic violations.
Hartford, which specializes in selling car insurance for seniors, also offers a special auto insurance program for AARP members. Hartford’s AARP auto insurance program gives you a lower premium if you take an online defensive driving course. This course typically takes four to eight hours and can knock 3% off your monthly premiums. It costs $25 to take the course, but you can also receive a discount if you’re a member of AARP.
However, if you are not sure about the company you’re looking for, you can always check out NerdWallet’s ratings. It takes a variety of factors into account, including customer complaints and the discounts you can get from each insurance provider. NerdWallet has a detailed breakdown of how car insurance for seniors works, which can help you make a decision.
Geico is another insurance company that offers a unique package specifically aimed at the 50+ market. Popularly known as the Prime-Time Contract, this program guarantees instant renewal for consumers over 50. It’s important to note that to qualify for the program, you must have no driver younger than 25 and have no commercial use of your car.
Car insurance for seniors is generally less expensive than for younger drivers, but it’s important to make sure you’re getting the best value. Insurers will usually lower the rate if you’re a safe driver with a clean driving record. However, if you’re a senior, it’s always a good idea to shop around and compare quotes to find the best deal.