The words “economical” and “auto insurance” probably shouldn’t be used in the same sentence, specifically when shopping around for the cheapest car insurance for seniors. Because it’s not cheap, let’s start the ball rolling by going over some situations that determine auto insurance prices, and find out if you can lower the cost of your next policy.
The vehicle model that needs insurance is probably the largest consideration when comparison shopping for the most affordable car insurance for seniors. Vehicles with limited top-end speed, an excellent safety record, or a low likelihood of liability claims will cost significantly less to insure than higher performance models. The information below ranks auto insurance rates for a number of the cheapest vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$682|
|Honda CR-V LX 2WD||$690|
|Honda Accord LX-P 4-Dr Sedan||$682|
|Ford Escape Limited 4WD||$740|
|Jeep Wrangler Sahara 4WD 2-Dr||$763|
|Ford Edge SEL AWD||$789|
|Toyota RAV4 Limited 4WD||$805|
|Ford Fusion S 4-Dr Sedan||$813|
|Jeep Grand Cherokee Laredo 4WD||$805|
|Toyota Tacoma Double Cab 4WD||$815|
|Dodge Grand Caravan Hero||$805|
|Ford F-150 Lariat Super Cab 2WD||$824|
|Ford Explorer Limited AWD||$834|
|Chevrolet Malibu LT||$824|
|Honda Civic EX 4-Dr Sedan||$830|
|Toyota Corolla LE||$847|
|Chevrolet Impala LTZ||$853|
|Honda Odyssey EX-L W/Rear Entertainment||$847|
|Chevrolet Silverado LT Regular Cab||$862|
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Data based on married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Price estimates do not factor in Irvine, CA location which can alter premium rates considerably.
By looking at the data, you can expect makes and models like the Hyundai Elantra, Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are most likely to be the most affordable vehicles to insure for senior citizens.
Shopping around for low-priced car insurance is not the easiest thing to do, and deciding which company offers the best auto insurance rates for seniors will take even more work.
Each insurance company has a proprietary formula to determine premium rates, so let’s begin by examining the auto insurance companies with the most affordable rates in Irvine. It’s a good idea to be aware that Irvine auto insurance rates are determined by lots of factors that can increase the policy premium. This price variation is why it is critical to shop around when trying to get the most affordable car insurance rates for seniors. Car insurance prices are influenced by many different factors and can decrease or increase without notice, so the cheapest option three years ago may now be an over-priced policy.
Cheapest Insurance Rates for Mature Drivers
|Rank||Company||Cost Per Year|
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USAA normally has some of the most affordable car insurance rates in Irvine at around $1,121 a year. This is $530 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also be considered some of the more affordable Irvine, CA insurance companies.
In the above rates, if you currently have coverage with Century National and switched to USAA, you might achieve an annual savings of in the vicinity of $93. Policyholders with CSAA might save as much as $113 a year, and Nationwide policyholders might lower prices by up to $142 a year.
These rates are averages across all types of insureds and vehicles and and are not calculated with a specific zip code for seniors. So the car insurance company that fits your situation best may not even be in the top 24 companies in the list above. That points out the importance of why you need to compare prices as often as possible using your own driver information and specific vehicle type.
Discounts on Irvine insurance
Auto insurance companies that provide policies for seniors may provide price discounts that could potentially reduce rates by as much as 35% if you meet specific criteria. A few popular companies and their offered discounts can be found below.
- State Farm may include discounts for defensive driving training, student away at school, driver’s education, accident-free, safe vehicle, and good student.
- Progressive includes discounts for multi-vehicle, good student, online quote discount, multi-policy, homeowner, and continuous coverage.
- Progressive has discounts for homeowner, continuous coverage, online quote discount, good student, online signing, and multi-vehicle.
- MetLife discounts include accident-free, good student, multi-policy, defensive driver, claim-free, good driver
- Farm Bureau has savings for good student, youthful driver, multi-policy, safe driver, multi-vehicle, and renewal discount.
- GEICO may have discounts that include membership and employees, defensive driver, multi-policy, anti-lock brakes, air bags, good student, and five-year accident-free.
- SAFECO offers discounts including teen safe driver, bundle discounts, homeowner, accident prevention training, and anti-theft.
The diagram below shows the difference between premium costs with and without policy discounts. The data assumes a female driver, no claims or violations, California state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with vehicle safety, homeowner, safe-driver, defensive driving course, claim-free, and accident-free discounts applied. With discounts applied, theaverage yearly reduction on auto insurance for seniors is 30% or $522.
Liability-only versus full coverage
Finding cheaper auto insurance should be important to most drivers, and an easy way to find cheaper insurance for seniors is to not insure for full coverage. The illustration below illustrates the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no violations or accidents, $100 deductibles, marital status is single, and no other discounts are factored in.
If the expense is averaged for all age categories, comp and collision coverage costs $2,525 per year more than insuring for liability only. That proposes the question if full coverage is worth the money. There is no specific rule for excluding full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
There are some conditions where dropping full coverage is not a good idea. If you haven’t paid off your loan, you have to keep full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not remove full coverage.
How to find economical insurance for seniors
Below you’ll find a few money-saving ideas that can help Irvine drivers buy cheaper coverage.
- Save money by obeying traffic laws and keeping a clean driving record
- Better credit rating means better rates
- Claim-free drivers earn discounts
- Raise physical damage deductibles
- Staying accident-free helps keep rates low
- Buying home and auto together can help save money
- Shop your coverage around for the best deal
That last tip is certainly vital, as was affirmed in this write-up. Prices charged by car insurance companies adjust frequently, so drivers shouldn’t be resistant to change insurance companies if a more affordable rate is found. Many drivers prefer to stick with one company, but it’s not a great idea if that stubbornness costs you lots of hard earned cash every month. Spend a few minutes and compare prices and find cheaper car insurance for seniors in Irvine.
The agents below can provide answers to your questions and help you determine which car insurance company is the best fit, since some drivers aren’t sure which coverage they need and prefer to have professional advice when shopping around for cheaper insurance for seniors. It can be challenging to find the cheapest rates, so getting advice from a licensed California insurance agent can provide satisfaction knowing your coverage gives you suitable coverage if you ever need to use it.
To locate an Irvine auto insurance agent close to you, click the button after the list or click here to compare prices now.
Farmers Insurance: James Lohse
4850 Barranca Pkwy #202 – Irvine, CA 92604 – (949) 559-0175
John Luithly – State Farm Insurance Agent
16277 Laguna Canyon Rd F – Irvine, CA 92618 – (949) 727-4442
Lockton Insurance Brokers
19800 MacArthur Blvd #1250 – Irvine, CA 92612 – (949) 252-4400
Professional Choice Insurance
2151 Michelson Dr Suite 250 – Irvine, CA 92612 – (714) 467-8726