Car insurance rates for seniors are roughly the same as for other adults but they can climb after a driver hits 70 years old. The average national car insurance premium for seniors is $1,886 yearly or $157 monthly.
While it may be tempting to lower your coverage levels to reduce your insurance bill, if you are involved in a serious accident you will have to cover any additional expenses over your limits and those costs can be significant if you cause a serious accident.
- The national average car insurance premium for senior drivers is $1,886 a year or $157 a month.
- Louisiana is the most expensive state for senior car insurance at $229 a month while Maine has the lowest premium for seniors at $95 monthly.
- USAA has the best rates for senior drivers but is only available to military families. Auto-Owners and Geico also have great rates for seniors.
Our take on car insurance for seniors
Insurance companies use proprietary algorithms to set a rate, meaning premium quotes can vary dramatically between insurance companies. Senior drivers can absolutely save money by shopping their coverage.
Most insurers offer a discount for paying your premium in full each year or even bi-annually but many drivers pay their car insurance premium monthly.
Check out our detailed guide on how to shop for car insurance for seniors
Average car insurance rates for seniors
We ran the numbers for a full coverage policy; the average car insurance cost for seniors is $1,886 annually. This is slightly less than the $ 1,908 annual average that adult drivers pay. Seniors tend to drive less as they are often retired which can lead to lower rates than other adults.
However, as they continue to age, medical conditions and slower reaction times lead to more accidents and higher rates.
Young adults and teens pay dramatically more for coverage. The average premium for young adults (age 20-24) is $3,092 while teens (16-19 years old) are forking up $5,914 a year. This is an astounding 213.57% percent more than seniors.
Teens and young adults tend to pay more for coverage because statistics show that they are involved in more accidents and file more claims. Teens in particular are inexperienced out on the road and tend to take more risks which results in more accidents and claims and higher premiums.
Monthly car insurance cost for seniors
Data show that USAA was the cheapest insurer for seniors with an average monthly rate of $118 for full coverage while Nationwide was $126 and Auto-Owners at $128.
Farmers was the most expensive for senior drivers at $239 a month, Allstate was $223 and Progressive was the third-most expensive at $175 per month for full coverage.
| Company | Monthly Full Coverage Rate |
|---|---|
| USAA | $118 |
| Nationwide | $126 |
| Auto-Owners | $128 |
| Travelers | $143 |
| Geico | $152 |
| State Farm | $159 |
| Progressive | $175 |
| Allstate | $223 |
| Farmers | $239 |
How much does car insurance for seniors cost in each state?
Car insurance companies consider various factors when setting a premium and where you live will impact your rates. If you live in an area prone to severe weather or with a high crime rate, you will pay more for coverage.
When it comes to high car insurance costs, Louisiana came out on top with an average annual premium of $2,750. Florida was close behind with an annual rate of $2,692 and California rounded out the top three at $2,424 a year.
When it comes to cheap car insurance for seniors consider Maine, Vermont or New Hampshire. These more rural communities have fewer cars out on the road, leading to fewer accidents and lower rates. The average monthly premium in Maine came in at $95 while Vermont and New Hampshire were $111 a month.
The table below shows the average annual and monthly rates for seniors in each state.
| State | Annual Full Coverage Rate | Monthly Full Coverage Rate |
|---|---|---|
| Alaska | $1,772 | $148 |
| Alabama | $1,878 | $157 |
| Arkansas | $1,953 | $163 |
| Arizona | $1,885 | $157 |
| California | $2,424 | $202 |
| Colorado | $2,367 | $197 |
| Connecticut | $1,816 | $151 |
| Washington, D.C. | $2,252 | $188 |
| Delaware | $2,085 | $174 |
| Florida | $2,692 | $224 |
| Georgia | $2,064 | $172 |
| Hawaii | $1,517 | $126 |
| Iowa | $1,496 | $125 |
| Idaho | $1,442 | $120 |
| Illinois | $1,531 | $128 |
| Indiana | $1,515 | $126 |
| Kansas | $1,781 | $148 |
| Kentucky | $2,257 | $188 |
| Louisiana | $2,750 | $229 |
| Massachusetts | $1,509 | $126 |
| Maryland | $1,832 | $153 |
| Maine | $1,139 | $95 |
| Michigan | $2,237 | $186 |
| Minnesota | $1,861 | $155 |
| Missouri | $1,912 | $159 |
| Mississippi | $2,019 | $168 |
| Montana | $2,148 | $179 |
| North Carolina | $1,732 | $144 |
| North Dakota | $1,704 | $142 |
| Nebraska | $1,741 | $145 |
| New Hampshire | $1,333 | $111 |
| New Jersey | $1,993 | $166 |
| New Mexico | $2,077 | $173 |
| Nevada | $2,118 | $176 |
| New York | $1,922 | $160 |
| Ohio | $1,460 | $122 |
| Oklahoma | $2,103 | $175 |
| Oregon | $1,710 | $143 |
| Pennsylvania | $1,864 | $155 |
| Rhode Island | $2,166 | $181 |
| South Carolina | $2,054 | $171 |
| South Dakota | $2,043 | $170 |
| Tennessee | $1,716 | $143 |
| Texas | $1,944 | $162 |
| Utah | $1,935 | $161 |
| Virginia | $1,587 | $132 |
| Vermont | $1,327 | $111 |
| Washington | $1,716 | $143 |
| Wisconsin | $1,654 | $138 |
| West Virginia | $1,976 | $165 |
| Wyoming | $1,786 | $149 |
Why do car insurance costs vary by state?
Insurance rates will vary between states due to factors such as severe weather, crime rates, state laws, and other factors. While many seniors call Florida home, it is not super friendly when it comes to car insurance rates.
Factors such as hurricanes and other severe weather increase car insurance rates as insurers have to repair or replace any vehicles damaged by severe weather or flooding.
Our data show that when it comes to car insurance, Louisiana is the most expensive state for car insurance for seniors with an annual premium of $2,750 or $229 a month. Louisiana has a high car theft rate, making it easy for drivers to sue, pushing up car insurance rates in the state.
Florida was the second most expensive state for senior drivers with an average annual premium of $2,692 or $224 monthly. Florida has experienced several severe storms in recent years, it also has one of the highest rates of uninsured drivers which will raise rates for all drivers.
California rounded out the top three most expensive car insurance with an annual premium of $2,424 or $202 monthly.
Cheapest car insurance rates for seniors
Seniors will typically pay similar rates to other adult drivers. Insurers rate risk differently so your personal and vehicle risk factors will impact your rates. In addition to your risk factors, the coverages and coverage levels you carry will also impact your premium
As the table below clearly shows, average car insurance rates for seniors can vary pretty dramatically with the cheapest premium – USAA – coming in at $1,418 a year for full coverage while the most expensive policy was $2,872 – a 102% difference.
Our data specialists calculated the average premium for seniors at three different coverage levels: state-required minimums, 50/100/50, and full coverage with liability at 100/300/100 as well as collision and comprehensive.
| Company | State Minimum Rate | Liability (50/100/50) | Full Coverage Rate |
|---|---|---|---|
| USAA | $385 | $493 | $1,418 |
| Nationwide | $556 | $683 | $1,507 |
| Auto-Owners | $407 | $502 | $1,541 |
| Travelers | $608 | $743 | $1,716 |
| Geico | $464 | $619 | $1,826 |
| State Farm | $518 | $666 | $1,903 |
| Progressive | $604 | $768 | $2,095 |
| Allstate | $786 | $990 | $2,673 |
| Farmers | $868 | $1,256 | $2,872 |
Resources & Methodology
Methodology
CarInsurance.com editors in 2023 collected rates from Quadrant Information Services for a 40-year-old male driving a Honda Accord LX with a good insurance score and no violation on record for a full coverage insurance policy with limits 100/300/100 and $500 comprehensive and collision deductible. We analyzed 53,409,632 records, 34,588 ZIP codes and 170 insurance companies nationwide.
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Laura Longero
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Laura Longero is an insurance expert and Executive Editor at CarInsurance.com, where she specializes in helping consumers navigate the complexities of the financial and insurance industries. She has 15 years of experience educating people about finance and car insurance. Prior to joining CarInsurance.com, she worked as a reporter and editor at the USA Today Network. Her expertise provides readers with practical guidance, helping them make informed choices about their financial and insurance needs.
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