Car insurance can be a significant expense for car owners, especially with the cost rising significantly in recent years. However, senior citizens have options to save money on auto insurance while maintaining reliable coverage. with special discounts, policy features, and coverage designed for them.
Top Car Insurance Plans for Seniors in 2024
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It is essential to choose a reputable and reliable car insurance company with high ratings from customers.
Here are some of the best car insurance companies for seniors:
Allstate:
Allstate is a well-known, nationwide company that offers the most discounts and special coverage for seniors. Allstate car insurance is available in all 50 states.
Some of the benefits offered by Allstate include:
- Special coverage: Umbrella insurance plans, 24/7 roadside help, and new-car repair coverage. Allstate can provide practically any kind of car insurance policy one may need. In addition, Allstate provides some very unique products, such as rideshare coverage for drivers from Lyft and Uber.
- Special benefits: Allstate offers accident forgiveness, which means that they won’t cancel your policy because of an accident under certain conditions. They also provide good driving discounts, automatic rate reductions for safe driving, and guaranteed claim handling, which is a promise of fast and proper dealing with claims.
- Special discounts: retired policyholders aged 55 or over get a senior discount, plus multi-car and multi-policy discounts and discounts for automated premium payments and paperless (online only) billing.
GEICO:
GEICO is a popular provider of car insurance for all types of drivers, and they provide very good prices and features for seniors. They operate almost entirely online, which allows them to charge lower premiums. GEICO writes policies in all 50 states and is highly ranked for good customer service. Some of the benefits offered by GEICO include:
- Special coverage: Automatic renewal for qualified senior drivers, glass breakage, mechanical breakdown, and rideshare coverage.
- Special benefits: GEICO offers accident forgiveness, which means that they won’t cancel your policy because of an accident under certain conditions. They also provide emergency roadside assistance and will send a truck to your location to change a tire, jump start your battery or tow you to a garage if necessary.
- Special discounts: GEICO offers safe driving and healthy driver discounts of up to 25%, multi-car and multi-policy discounts of up to 25%, and modern car safety equipment discounts of up to 25%.
Hartford:
Hartford is a very large insurance company that offers an exclusive and special auto insurance policy to AARP members. In addition to the large number of benefits, Hartford has strong ratings for financial strength and good customer service. Hartford insures cars in all states except Hawaii, Massachusetts, Michigan, and New Jersey. The special policy offered by Hartford includes the following:
- Emergency Roadside assistance 24/7
- Claims Hotline 24/7 by phone or online
- RecoverCare, to help pay for travel, cooking, washing, and other expenses incurred because of an injury arising from an accident
- Replacement with a new vehicle if the insured new car is totaled in the first 15 months or 15,000 miles (whichever comes first).
- 12-Month Cost cover, which for one-year locks down your auto insurance premium
- Special discounts: Hartford offers a multi-policy discount of 20%, Lump sum premium payment discount and car safety equipment discount.
USAA:
USAA provides auto insurance coverage with excellent rates, service, and benefits to seniors or their spouses who are armed service veterans. They sell auto insurance in all 50 states. In addition to standard coverage, they also offer rideshare coverage for Lyft and Uber drivers, and the ability to package auto coverage with many other types of insurance coverage, including life, renters, and boat insurance. USAA provides several special benefits to their customers, including
- Emergency roadside assistance 24/7,
- Towing coverage,
- Accident and injury forgiveness for qualified drivers,
- New vehicle purchase discounts and financing aid.
- They also offer several discounts to help seniors save money, such as multi-vehicle and multi-policy discounts, new vehicle discounts, and low vehicle usage (mileage) discounts.
Reducing the Cost of Insurance:
In addition to choosing the right car insurance company, there are several other ways seniors can reduce the cost of their auto insurance.
The first is by ensuring that they have proper driving status. Seniors should make sure they are listed as leisure drivers and not commuters. They should also ask for a low usage (miles driven) rate if they only drive their car mainly for local trips. Seniors can also take defensive driving courses, which can result in a significant discount for their auto insurance premiums. These courses are often offered by AAA and AARP for a very modest cost. In some locations, seniors can even take the course online. In addition to AARP, there are other senior discounts available through AAA membership or membership in certain other groups such as credit unions, labor unions, and professional associations.
Seniors can also save money on their auto insurance by adjusting their deductibles and coverage types. The higher the deductible, the lower the premium should be. Seniors should avoid buying special or “fluff” coverage that they really don’t need, such as personal property coverage (left in your car) if their homeowners or renters insurance policy already covers this.
