Auto Insurance for Senior Drivers
How to get cheapest car insurance rates if you are an older driver
Many older drivers or senior drivers have an opportunity to save significant money on their car insurance, especially if they've been with the same auto insurance company for years.
Update your information
One of the easiest ways to save money is to simply update your information with your auto insurance company. If your lifestyle has changed, if you've retired and no longer commute to work, or if you've gotten older (haven't we all?), it's a good idea to contact your insurance company.
Ask about discounts
Auto insurance companies give discounts for a wide variety of things, such as multiple car discounts, safe driving discounts, retiree discounts, AARP membership discounts, discounts for having a good credit score, discounts for on-time payments, and discounts for agreeing to receive your bills online instead of getting paper bills in the mail.
Your qualifications may not only get you discounts but may also allow your insurance company to switch you to another one of their underwriting partners that has much better rates. If you have been with the same insurance company for years, this is something you should consider. Some companies may not be able to switch you if you are not a new customer, or you may already be getting the best rates from their current underwriter. In that case, you should consider changing to a new insurance company so that you qualify as a new customer (see list of recommended companies below).
It is especially important to get car insurance rate quotes frequently from multiple companies if you have had an at-fault accident in the last five years. The "penalty" for accidents varies significantly between auto insurance companies. A company with the highest no-accident rates might have very reasonable at-fault accident rates.
It is actually easier to get good car insurance rates now than ever before. The reason is that the business is so competitive. Each company wants your business and knows that you may be looking at multiple companies and searching for low rates. Just notice all the commercials on TV now for auto insurance companies. It's hard to go an hour without seeing at least one ad from Geico, Progressive, State Farm, or Allstate.
Another reason to reexamine your insurance is that car insurance is not a constant. It is constantly changing. State laws that regulate insurance companies frequently change the rules on rates and how companies can do business in that state. Insurance companies change. There are rate adjustments, new discount programs, qualification rule changes, and changes with underwriting partners.
Changes happen so frequently, that you should ask your insurance company at least once a year to take a fresh look at your policy and premiums. Your insurance provider may not volunteer to do this automatically unless you ask. Don't assume they are looking out for your best interests.
It is also wise to check rates with other companies at least every six months. The company with the best rates this year will almost certainly not the company with the lowest rates next year.
Get free auto insurance rate quotes online
You can get free online car insurance rate quotes and easily compare costs.
The easiest and best way to find the cheapest auto insurance for senior drivers is to compare rate quotes from multiple insurance providers. Use an insurance broker site such as NetQuote.com to get multiple quotes instantly from multiple insurers that are best matched to your needs and budget. There is simply no better way to do it.
Here are some companies we recommend:
NetQuote.com - Get multiple quotes from well known insurance providers such as Allstate, Farmers, Hartford, and Progressive, all by filling out a single online form. NetQuote.com is one of the oldest and best-known companies and works with over 100 different insurers. They match your particular requirements to the companies who will have the best rates for your needs. You can compare rates immediately but are not obligated to accept any of the offers. See this CBS News article about auto insurance and NetQuote.com.
- Single provider quote
- Single provider quote
- Get up to five competitive quotes from providers
Additional information
Here's where you can find articles on our site with additional information about auto insurance:
Return to LeaseGuide Home