Cheapest car insurance plans for Seniors
It’s a good time to become more aware of how you spend your money and whether you’re getting excellent value for it as you prepare for retirement.
This is true for both your vehicle insurance and your retirement savings. You should make sure you have adequate coverage based on the worth of your vehicle.
You should also choose a policy that fits your lifestyle and provides you with the benefits and discounts you deserve based on your driving record.
How do you tell which firm will provide you the best bang for your buck when there are so many to choose from? We’ve combed through the available options and prepared a handy list that considers not only coverage but also discounts for seniors as well as the numerous incentives being offered in exchange for your business.
Based on our findings, we are confident in recommending the following seven vehicle insurance companies to anyone in the 50+ age category.
Below are cheapest car insurance plans, offers from our advertising partners, as well as a comprehensive list of the finest car insurance providers for seniors that we’ve located.
Best Car Insurance for Seniors of 2021
The Hartford’s AARP® Car Insurance Program has been providing car insurance exclusively to AARP members since 1984.
While this indicates that The Hartford caters to people in their 50s and older, it has no bearing on the company’s ratings.
The Hartford typically receives above-average client satisfaction ratings from J.D. Power, and its financial strength remains strong.
These are just a few of the reasons why The Hartford is our top cheapest car insurance plans for senior.
Pros and Cons
Pros: Coverage and discounts tailored exclusively for people aged 50 and up. Hotline for Claims 24 hours a day, 7 days a week. In the event of an accident, a RecoverCare policy may pay the cost of domestic support.
Cons: Policies only available for AARP members. May not offer the cheapest rates.
Types of Coverage
Auto insurance is available to AARP members through a program supplied by The Hartford, whose auto insurance policies include similar coverage to other providers’ regular policies.
The Hartford’s AARP® Auto Insurance Program, on the other hand, provides a number of additional benefits, including:
- A claims hotline is available 24 hours a day, 7 days a week, by phone or online.
- After an accident, RecoverCare can help with transportation, cooking, cleaning, and other expenses.
- If your new automobile is totaled, you will receive the full replacement value with no depreciation deduction.
- If your automobile is repaired at an approved facility, you’ll get a lifetime warranty on repairs.
Additional benefits include:
- Accident forgiveness means that your rate won’t go up if you have your first accident, even if it was your fault.
- As long as you maintain a clean driving record, your deductible will decrease over time.
Check out GEICO if you’re looking for a car insurance company that routinely delivers some of the lowest rates in the business.
In addition, GEICO was ranked first in J.D. Power’s 2020 Insurance Shopping Study and second in U.S. News & World Report’s Top Insurance Companies in 2021.31
Pros and Cons
Pros: Rates are consistently lower than the majority of the competition. Automatic Renewal Policy designed exclusively for persons over the age of 50. Accident forgiveness is available to clients who meet certain criteria.
Cons: Almost exclusively online.
Types of Coverage:
GEICO, a renowned insurance company in the United States, offers very comprehensive vehicle insurance policies that include all of the essential types of coverage. Customers can also take advantage of GEICO’s bonuses and add-on policies, which include:
- Roadside Assistance in an Emergency
- Rental Reimbursement is a service that reimburses you for the cost of your
- Insurance for Mechanical Failure
- Coverage for Ridesharing
- Forgiveness for Mistakes
- Coverage of Glass
In addition, GEICO offers a special vehicle insurance policy for people over the age of 50. This policy, known as the Prime Time Contract, offers GEICO clients over the age of 50 automatic renewal as long as they keep their GEICO insurance.
The only qualifications for this coverage are that you don’t have any drivers under the age of 25, that you haven’t had an accident in the previous three years, and that you don’t use your car for commercial purposes.
If you or your spouse served in the military, you should look into USAA auto insurance. The organization not only has some of the lowest rates in the industry, but it also consistently scores top in customer satisfaction and claim handling. USAA is also a good option for anyone planning to relocate for retirement because it is offered in all 50 states.
Pros and Cons
Pros: Reasonably priced rates, Customer service ratings are excellent, Provides banking and other services.
Cons: Only available to current or former military and their families.
Types of Coverage
USAA, as one of the country’s top-rated insurance companies, offers all of the fundamental vehicle insurance coverage you’ll need to meet your state’s insurance needs.
Additionally, USAA provides Lyft and Uber drivers with rideshare coverage, as well as 24/7 roadside assistance and towing coverage.
Customers of USAA can combine their auto and house insurance plans, as well as add extra coverages including life insurance, renters or condo insurance, and boat insurance.
The benefits that USAA members receive are one of the nicest aspects of USAA vehicle insurance. Customers can, for example, choose payment schedules that meet their pay schedule with USAA’s payment flexibility.
Through its website and mobile app, USAA makes it simple to view your policy at any time. Accident forgiveness and other membership benefits may be available to you.