Auto insurance for seniors starts getting expensive as they enter their 60s and 70s. For seniors above the age of 60, car insurance premiums for standard coverage can be quite expensive. This can be a difficult prospect since most seniors have a limited and fixed income post retirement. Moreover, they have to pay for expensive medical insurance, which perhaps occupies a major chunk of their monthly expenses. In such cases, it is only viable to opt for auto insurance that has been made specifically to meet the requirements of seniors and offer substantial discounts to them. Read on to know more about affordable and useful auto insurance for seniors.
AARP
The AARP® Auto Insurance Program from The Hartford is one of the most popular auto insurance for seniors in the market. The terms and conditions of the various auto insurance policies provided by The Hartford in collaboration with the AARP have been formulated specifically for senior drivers and their needs. These plans offer the option of vanishing deductible to senior customers. A vanishing deductible means that the amount paid as deductible decreases each year if there have been no accidents and no claims have been filed. One of the biggest benefits of this insurance program for seniors is that they get 3% discount if they enroll in a defensive driving course. This insurance program has one of the high ratings for customer service.
Allstate Insurance
This insurance provider has been known to offer some of the best discounts on auto insurance for seniors. These discounts are applicable to those who are retired or working part-time and are older than 55 years. Additional discounts are offered to the drivers who use Allstate’s Drivewise app that tracks an insurance holder’s driving habits. Safe drivers get more discounts every six months. Having anti-lock brakes, anti-theft system or a new car also makes an insurance holder eligible for discounts. Despite huge discounts, auto insurance for seniors from Allstate Insurance may have some of the highest premiums. When you apply for an insurance plan, make sure to check that the discount offsets high premium.
Amica Insurance
Although this is one of the lesser-known auto insurance providers for seniors, Amica Insurance is known for offering insurance plans that are tailor-made for seniors. Similar to the AARP® Auto Insurance Program from The Hartford, Amica Insurance also has one of the highest customer ratings. Seniors who take a defensive driver course through SafetyServe can avail substantial discounts on insurance plans from Amica Insurance. Moreover, additional discounts are given to seniors who pay the full premium or own a house. Some of the extra perks offered by this insurance provider include zero deductibles on lock replacement, irrespective of whether the keys are stolen or lost.
Metromile Insurance
This is one of the best auto insurance providers for seniors who only drive their vehicles occasionally. Metromile Insurance has plans for seniors who drive less than 10,000 miles every year. Most of these plans have rates that are broken into monthly base fees and per-mile rates. The per-mile rates are added only when the insurance holder drives their vehicle. When a senior enrolls for one of the auto insurance policies from Metromile, he or she will receive a plug-in device that calculates the gas mileage of the car that helps in the adding the per-mile rate to your total cost of the insurance. The app associated with the plug-in device also helps in finding the insurance holder’s parked car and sends alerts on no parking times. Metromile auto insurance plans for seniors are available only in Oregon, Illinois, California, Virginia, Washington, and Pennsylvania.
State Farm
Seniors who frequently like to go on road trips can avail auto insurance from State Farm. In case there is an accident away from home, State Farm will cover repair expenses as well as the cost of meals, lodgings, and transportation. Safe drivers can avail nearly 50% discount with State Farm’s safety program known as Drive Safe and Save. State Farm will track and analyze an insurance holder’s driving habits using their app. Once the analysis is done, State Farm will decide whether the senior is eligible for discounts. Additional discounts can be availed by enrolling in a defensive driving course.
USAA
Seniors who have been veterans are eligible for numerous benefits from USAA auto insurance. Rated highly for customer service, affordability, and claims fulfillment, USAA offers one of the lowest premiums in auto insurance for seniors. Senior insurance holders who have been customers of USAA for 40 years or more are eligible for a Senior Bonus payment of up to 10% of the annual premium amount. Some of the advantages of USSA auto insurance for seniors include roadside assistance, flexibility in premium payments, convenience in filing claims, and easy management of policy through online services.
Dairyland
A highly rated nonstandard car insurance company, Dairyland is a good option for seniors who are high-risk drivers. They are categorized as high-risk because many standard insurance companies may have rejected their insurance application due to their age. This insurance company offers pay-as-you-go plans that are suitable for seniors who cannot afford the high premiums of standard insurance plans.
