Car insurance can rack up expenses but choosing the right insurance company and making the most out of discounts can save you plenty.
Forbes Advisor named Geico as the best insurance company for senior drivers. They have the lowest auto insurance rates for drivers aged 65-85, they offer accident forgiveness, a usage-based insurance program to reward good driving habits and Geico has a low level of complaints for their car insurance.
However, Geico doesn’t offer gap insurance which covers the difference between the current value of your car and how much you owe on it if it gets totaled. If you’re looking to bundle home and auto insurance, Geico may not be the best choice either. The discount for bundling both is 8%, which is lower than other insurance providers, according to Forbes Advisor. Additionally, Geico doesn’t include features such as vanishing deductibles, rideshare insurance, or new car replacements in their coverage.
Insurance comparison site, The Zebra also looked at different car insurance providers for seniors and ranked them by customer satisfaction. They found that the best car insurance for seniors were USAA, Erie and American Family. According to The Zebra, Progressive is the cheapest insurance company for Georgia residents.
According to Moneygeek, these insurance providers offer various discounts as well: 21st Century, Allstate, American Family, District General, Farmers, Kemper, Mercury, National General, NJM Insurance Co., Shelter and The Hartford.
There are other ways you can get further discounts on your car insurance. Many insurance companies offer discounts if you are a retired military veteran, check your policy to see if you qualify. AARP has a defensive driver course that can make you eligible for a multi-year discount on your insurance. According to QuoteWizard, some auto-insurance providers offer a low-mileage discount. This is perfect for seniors who don’t drive often, but still need a car.
Before making your decision on car insurance, compare the different offerings, price and discounts each provider has. Consider your personal driving habits as well and based on that, make your best-informed decision on what will work for you.
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