We analyzed rates for drivers ages 65 to 80 to determine which companies have the best car insurance rates for seniors.
Nationwide has the cheapest car insurance for seniors at $1,402 per year or $117 per month. Other cheap companies include USAA at an average of $1,455 per year and Travelers at $1,668 per year, according to our analysis.
| Cheapest car insurance companies for seniors | Average monthly cost | Average annual cost |
|---|---|---|
Nationwide | $117 | $1,402 |
USAA* | $121 | $1,455 |
Travelers | $139 | $1,668 |
Geico | $149 | $1,793 |
Auto-Owners | $151 | $1,813 |
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors Age 65
USAA is the cheapest car insurance company for seniors age 65, costing an average of $1,322 a year or $110 a month, according to our analysis. USAA is available only to customers with a military affiliation. Nationwide is the cheapest auto insurer available to all drivers. Nationwide’s auto insurance costs for a 65-year-old average $1,342 a year or $112 a month.
| Cheapest car insurance companies for 65-year-olds | Average monthly cost | Average annual cost |
|---|---|---|
USAA* | $110 | $1,322 |
Nationwide | $112 | $1,342 |
Travelers | $115 | $1,379 |
Erie | $125 | $1,499 |
Geico | $135 | $1,615 |
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors Age 75
Nationwide is the cheapest car insurance company for seniors age 75, among the companies in our analysis, with an average cost of $1,534 a year ($128 a month).
| Cheapest car insurance companies for 75-year-olds | Average monthly costs | Average annual costs |
|---|---|---|
Nationwide | $128 | $1,534 |
USAA* | $132 | $1,581 |
Travelers | $137 | $1,644 |
Auto-Owners | $152 | $1,819 |
Erie | $154 | $1,842 |
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors Based on Driving History
Your driving record is one factor that impacts how much you pay for car insurance as a senior driver. If your driving record is clear of accidents and traffic tickets, you’re considered a good driver and will get cheaper auto insurance rates.
If you have an accident, speeding ticket, DUI or other infraction on your driving record, expect to pay more for the next three to five years (depending on the issue).
Cheap Car Insurance for Seniors Who Are Good Drivers
Nationwide has the cheapest full coverage auto insurance rates for seniors age 70 who are good drivers, at an average of $1,410 per year. USAA is also cheap for full coverage at $1,416 per year, but only military members, veterans and their families are eligible for policies with USAA.
USAA is the cheapest company for those buying only minimum coverage, at $413 per year for 70-year-old senior drivers. The second cheapest company for minimum coverage is Erie, coming in at an average of $427 a year.
| Company | Average annual cost of full coverage | Average annual cost of minimum coverage |
|---|---|---|
Nationwide | $1,410 | $683 |
USAA* | $1,416 | $413 |
Travelers | $1,472 | $695 |
Erie | $1,623 | $427 |
Geico | $1,718 | $604 |
Source: Quadrant Information Services. Full coverage rates are based on liability coverage of 100/300/100 ($100,000 in bodily injury liability per person, $300,000 per accident, and $100,000 in property damage liability) uninsured motorist coverage and collision and comprehensive insurance with $500 deductible. Minimum state rates are based on the minimum amount of auto insurance required in each state. All rates are based on a female driver, age 70, insuring a new Toyota RAV4.
*USAA auto insurance is available only to members of the military, veterans and their families.
Cheap Car Insurance for Seniors With an At-Fault Accident
Erie is the cheapest company for senior drivers age 70 who buy full coverage car insurance and who have an at-fault accident with injury on their driving records, according to our analysis. Erie’s rates averaged $2,161 per year.
USAA and State Farm are also relatively cheap for 70-year-old senior drivers who have caused an accident with injury.
Having an at-fault accident with an injury on your record raises your rates by 56% on average, according to our analysis.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
Erie | $180 | $2,161 |
USAA* | $188 | $2,261 |
State Farm | $194 | $2,331 |
Nationwide | $203 | $2,431 |
Travelers | $207 | $2,482 |
*USAA auto insurance is available only to members of the military, veterans and their families
Cheap Car Insurance for Seniors With a Speeding Ticket
USAA offers the cheapest car insurance for 70-year-old seniors with a speeding ticket, averaging $1,764 a year. Erie has the second-cheapest price of $1,841 a year.
Seniors age 70 with a speeding ticket on their driving records will see an increase in car insurance costs of 29% on average, according to our analysis.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
USAA* | $147 | $1,764 |
Erie | $153 | $1,841 |
Nationwide | $161 | $1,936 |
Travelers | $184 | $2,212 |
State Farm | $186 | $2,228 |
*USAA auto insurance is available only to members of the military, veterans and their families
Cheap Car Insurance for Seniors With a DUI
Progressive has the cheapest average car insurance rate for a 70-year-old driver with a DUI on their record, averaging $2,268 per year.
A DUI is considered a serious offense by auto insurers, so senior drivers with a DUI can expect rates to shoot up. Our analysis found that car insurance rates go up 78% on average for a 70-year-old senior driver who has a DUI conviction.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
Progressive | $189 | $2,268 |
Erie | $218 | $2,612 |
State Farm | $218 | $2,618 |
USAA* | $231 | $2,776 |
Travelers | $236 | $2,831 |
*USAA auto insurance is available only to members of the military, veterans and their families
