Image by GettyImages; Illustration by Bankrate
Key takeaways
- Rates for seniors tend to increase after age 70, but shopping around and taking advantage of discounts may help you save.
- On average, 70-year-old drivers pay $2,623 per year for full coverage car insurance and $843 for minimum coverage.
- Senior car insurance rates may be cheapest through Auto-Owners, Geico, USAA, Nationwide and Travelers.
Getting older comes with a lot of road-tested wisdom — decades of driving experience, a clearer idea of the coverage you actually need and, for many, more miles behind the wheel. But even with all that in your favor, car insurance rates don’t always reflect it. In fact, premiums often start creeping up once you hit your 70s, even if your record is squeaky clean.
One Reddit user recently shared their sticker shock after checking prices in New York: “I live in NYC, and retired a few years ago… decided to check how much insurance would cost. Heard Geico has good rates… their quote was $1,600 per month! Is that the norm for someone getting a new license in their late-50s?”
While their age and licensing situation likely played a role, it still underscores how unpredictable — and pricey — coverage can get as you grow older.
If you’re in or inching toward your 70s and looking for affordable car insurance, you’ve got options. We’ve rounded up the cheapest companies, smart ways to lower your premium and what to watch out for as a senior driver navigating today’s insurance market.
What are the cheapest car insurance companies for seniors?
Car insurance often gets more expensive after age 70, but that doesn’t mean affordable coverage is out of reach. While some insurers raise rates due to age-related risk factors like slower reaction times or vision changes, not every company treats age the same. In fact, a few still offer competitive pricing to older drivers — especially those with clean records.Based on rate data from Quadrant Information Services, our research found that Auto-Owners, Geico, USAA, Nationwide and Travelers are consistently some of the cheapest car insurance companies for 70-year-old drivers. These picks stood out not just for pricing, but for strong customer service, solid financial strength and senior-friendly discounts.
Bankrate insight
A quick note: if you live in Hawaii or Massachusetts, insurers can’t use your age to set your rates — but in Massachusetts, they can factor in how long you’ve been licensed.
| Insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
|---|---|---|
| Auto-Owners | $577 | $1,865 |
| Geico | $644 | $2,252 |
| USAA | $699 | $2,132 |
| Nationwide | $702 | $1,840 |
| Travelers | $708 | $2,106 |
How to get cheap car insurance as a senior
The best way to save money on your senior car insurance rates likely depends on your unique rating factors, but many of the steps are similar to those for middle-aged drivers. Senior citizens may be able to get cheap car insurance by following these steps:
- Take a defensive driving course. In some states with approved defensive driving courses, car insurance carriers will offer a discount to seniors over 55 who complete one. It’s a good idea to check with your insurance company to see if this discount is an option before enrollment.
- Review your driving status. If you’re no longer commuting for work, updating your driving status to pleasure driving rather than a commuter may save you money due to the lower mileage. You may also be able to save with pay-per-mile insurance, which typically includes a low flat rate plus a per-mile charge.
- Avoid tickets and accidents. As demonstrated above, accidents and tickets can cause your insurance rates to increase. Maintaining a clean driving record may help keep those rates down as you age.
- Shop around. Shopping around with different carriers may offer you more savings than you’re getting with your current insurer. Just be sure to compare the same coverage types and limits to get a true comparison before switching carriers.
- Compare quotes before buying a new car. You may be switching cars to adjust to your new lifestyle during retirement. Maybe you want a bigger car to accommodate your grandkids or you’re looking for increased safety features. Before you land on a new model, compare insurance quotes. Cars with high safety ratings, low theft rates, and accessible parts and repairs often have lower insurance costs.
Car insurance discounts for seniors
Seeking out car insurance discounts is one way seniors may be able to get cheap car insurance rates. The discount types and amount of savings vary by carrier and policy, but consider asking about these discounts to see if you are eligible:
- Low mileage: Drivers who are retired or no longer commute to work may have an annual mileage that is below the national average of 13,000 miles. Some insurers offer discounts for having low annual mileage due to the decreased risk of accidents and claims.
- Bundling: Insuring both your home and car with the same carrier may offer the greatest discount on your policy. While this is the most common bundle, many insurers offer other bundles as well. Discounts are often available for combining car insurance with condo, boat or RV insurance, for instance.
- Vehicle safety equipment: The more safety features your car has, like anti-lock brakes, airbags and anti-collision technology, the lower your rate may be.
- Safe driving: Drivers who maintain a clean driving record by avoiding tickets and accidents may be able to save with this discount.
- Military and veteran: Military discounts often extend to veterans of the armed services. You might save on car insurance by providing proof of your service to your insurance provider.
Frequently asked questions
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Drivers in their 60s often land some of the best car insurance rates available. In fact, average premiums at this age are just shy of 10 percent lower than the national average, which we base on a 40-year-old driver. That’s likely due to driving experience and, often, fewer claims. Still, prices can vary depending on where you live, the car you drive and how much coverage you need. To get the most competitive rate, it helps to compare quotes, explore senior or safe-driving discounts and consider options like telematics programs or bundling with home insurance.
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The best car insurance company for seniors will depend on their needs, age (in most states), driving record, claims history and other factors. For instance, some of the best car insurance options for seniors could come from carriers like Allstate, Geico, The Hartford or USAA. Shopping for car insurance over the age of 70 may require some shopping around, as average rates tick up after this age. Comparing coverage options, available discounts and the price may help you find the best carrier with the lowest rates on the coverage you need.
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Senior citizens over age 60, especially over 70, often pay more for car insurance. Insurance companies view senior citizens as riskier to insure because they are more likely to be involved in accidents or have health issues that make it more difficult to drive safely. However, seniors don’t necessarily have the highest auto insurance rates. For instance, drivers under 25 might have higher rates since they are statistically more likely to be involved in an accident than other drivers. Shopping around to compare quotes may help you find cheap car insurance for seniors over 60.
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As a senior driver, determine how much car insurance you need based on your personal factors. There are a few cases where you might be required to carry full coverage. For example, you’ll probably need full coverage if you lease or finance a car. However, if you drive an older car that you can afford to replace if it’s in an accident, you might consider going with minimum coverage, especially if you’re on a tight budget or fixed income. Either way, it might help to talk with your insurance agent or car insurance provider before you change the coverage on your vehicle.
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There are a few factors that may decrease your car insurance rates when you retire. When you stop commuting for work, your insurance company may lower your rate based on your lower mileage. On the other hand, once drivers hit the age of 70, average rates start to increase. Older drivers often have slower reflexes and may be more likely to get into an accident. You may want to look into discounts to offset any age-related rate increases.
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 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. Drivers are homeowners. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
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