When you reach your golden years, or are 55 and retired, it’s time to cash in on your rewards and go with the best auto insurance companies for seniors. Let’s face it. Car insurance isn’t cheap, and savvy consumers want to get the most coverage and the right coverage at the best possible price.
Looking at the best auto insurance companies for seniors, we’ve taken into account those that have been established for many years, have millions of policyholders, high ratings for customer satisfaction – and have special discounts for senior drivers. Here are just a few of these companies.
- Allstate – With over 75 years of experience, an A+ A.M. Best rating, and more than 16 million customers nationwide, Allstate is a great auto insurance company for seniors to consider. There are various discounts that can save senior drivers money, including their 55 and Retired Discount, which can save customers up to 10 percent of their premium. There’s also the Defensive Driver Discount, where taking an approved defensive driving course can lower your rates. Deductible Rewards gives you $100 off your deductible the day you sign up and $100 every year you go without an accident (up to a total of $500). The Safe Driver Discount can save you up to 45 percent on premiums. Then, there’s Allstate’s popular Accident Forgiveness feature which means if you have an accident, Allstate can keep your rates from going up.
- Nationwide – Their slogan is “Nationwide is on your side,” and after more than 80 years of serving customers, Nationwide knows how to treat people right – including senior drivers. Accident-free car insurance discount can save senior drivers up to 10 percent off their premium if they’ve had no chargeable (at-fault) accidents in the past five yeas. Seniors who’ve been with Nationwide for at least five years can save up to 15 percent, and up to 5 percent for at least three years. There’s also a discount, the Accident prevention or defensive driver car insurance discount, for taking a motor vehicle accident prevention course that’s approved by your state’s Department of Motor Vehicles. Bundling auto, home and life insurance policies with Nationwide can save seniors up to 25 percent.
- GEICO – Everyone’s seen the GEICO gecko on the television commercials, but there’s more to GEICO for senior drivers to like – including the company’s Prime Time contract for drivers aged 50 and older (available in 31 states). Other parameters include having no operators under age 25, no violations/accidents in the past three years, and the vehicle is not used for business purposes. With Prime Time contract, seniors could receive guaranteed policy renewal. Other discounts seniors may qualify for include Defensive Driving Discount, Five-year Good Driving Discount, Retired Government and Military Discount, Multi-Car Discount, and Partnering Organization Membership Discount. Accident Forgiveness is available in 39 states. GEICO has been insuring satisfied customers for 75 years.
- The Hartford – Auto insurance from The Hartford, a company that’s been insuring customers for more than 200 years, means dealing with an auto insurer that knows how to take care of things right. In addition to standard features in an auto insurance policy, seniors can receive additional benefits with Advantage Plus package. These include First Accident Forgiveness, Disappearing Deductible (maintain a clean driving record, and your auto insurance collision deductible is reduced by $150, pus $50 for each year thereafter without an accident), Waiver of Deductible for a Not-at-Fault Accident, $100 Deductible Waiver for choosing to use an approved repair shop, and more. The Hartford also offers the Defensive Driver Credit, a discount good for three years when you complete an approved defensive driver course.
Even if you currently have auto insurance, it doesn’t hurt to check these best auto insurance companies for seniors to see if you can maximize your savings and get more of what’s right for you.