The car, truck, or SUV driven is probably the largest consideration when looking for cheaper coverage for drivers over age 60. Vehicles with lower acceleration and performance, modern passenger safety features, or a track record of few liability claims will cost less to insure than high performance models. The next list estimates car insurance rates for a selection of the cheapest automobiles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $2,131 |
| Ford Escape Limited 2WD | $2,175 |
| Honda CR-V EX-L 2WD | $2,182 |
| Hyundai Elantra SE Touring Station Wagon | $2,312 |
| Ford Edge SE 2WD | $2,342 |
| Toyota Prius | $2,358 |
| Ford F-150 XLT Regular Cab 4WD | $2,385 |
| Ford Focus SE 4-Dr Sedan | $2,479 |
| Chevrolet Malibu Hybrid | $2,522 |
| Chevrolet Impala LT | $2,529 |
| Toyota RAV4 Sport 4WD | $2,522 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $2,569 |
| Ford Explorer Eddie Bauer AWD | $2,574 |
| Dodge Grand Caravan Crew | $2,569 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $2,599 |
| Toyota Camry SE | $2,656 |
| Honda Odyssey EX-L W/Rear Entertainment | $2,661 |
| Nissan Altima 2.5 S 4-Dr Sedan | $2,656 |
| GMC Sierra SL Crew Cab 4WD | $2,702 |
| Toyota Corolla XRS | $2,709 |
| GMC Sierra 2500HD SLE Crew Cab 4WD | $2,702 |
| Volkswagen Jetta SE 4-Dr Sedan | $2,711 |
| Jeep Grand Cherokee Limited 2WD | $2,702 |
| Compare Cheap Rates Go | |
Price data assumes single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Premium costs do not factor in vehicle location which can increase or decrease auto insurance rates noticeably.
Based upon the rates shown, you can presume that cars like the Honda Accord, Ford Escape, Honda CR-V, Hyundai Elantra, and Ford Edge are most likely to be a few of the cheapest vehicles to insure for older drivers.
For older drivers, one of the more important components that determine the amount you pay for auto insurance is where you live. Areas with more people or more claims tend to have more expensive car insurance rates, whereas areas that tend to be more rural have the luxury of lower rates.
The table below shows the priciest cities in California for drivers over age 60 to purchase a policy in. Los Angeles comes in at #2 with an annual cost of $2,083 for the average policyholder, which is around $174 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Glendale | $2,142 |
| 2 | Los Angeles | $2,083 |
| 3 | Oakland | $1,738 |
| 4 | San Francisco | $1,693 |
| 5 | Sacramento | $1,669 |
| 6 | San Bernardino | $1,628 |
| 7 | Stockton | $1,588 |
| 8 | Long Beach | $1,578 |
| 9 | Moreno Valley | $1,551 |
| 10 | Modesto | $1,547 |
| 11 | Riverside | $1,542 |
| 12 | Santa Clarita | $1,533 |
| 13 | Garden Grove | $1,524 |
| 14 | Fontana | $1,519 |
| 15 | Santa Ana | $1,497 |
| 16 | Fresno | $1,457 |
| 17 | Anaheim | $1,444 |
| 18 | San Jose | $1,423 |
| 19 | Fremont | $1,389 |
| 20 | Bakersfield | $1,381 |
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Prices are approximated as the vehicle garaging location can affect insurance rates considerably.
Figuring out which insurers offer the lowest-priced insurance rates for drivers over age 60 will take more time in order to find coverage that fits your budget.
Each insurance company uses a different method for filing rates in each state, so let’s take a look at the insurance companies that tend to be cheaper in Los Angeles.
Find Cheaper Car Insurance for Age 60+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Wawanesa | $1,146 |
| 2 | USAA | $1,155 |
| 3 | Century National | $1,226 |
| 4 | Nationwide | $1,226 |
| 5 | CSAA | $1,234 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,477 |
| 8 | Mercury | $1,488 |
| 9 | Progressive | $1,496 |
| 10 | Allstate | $1,559 |
| 11 | GEICO | $1,575 |
| 12 | Allied | $1,588 |
| 13 | MetLife | $1,590 |
| 14 | The Hartford | $1,591 |
| 15 | State Farm | $1,699 |
| 16 | Esurance | $1,705 |
| 17 | Unitrin | $1,733 |
| 18 | Bristol West | $1,795 |
| 19 | Travelers | $1,806 |
| 20 | Farmers | $2,026 |
| Find Your Rate Go | ||
Wawanesa may offer some of the most affordable car insurance rates in Los Angeles at around $1,146 per year. This is $505 less than the average premium paid by California drivers of $1,651. USAA, Century National, Nationwide, and CSAA would also be considered some of the cheapest Los Angeles, CA insurance companies.
As shown in the rates above, if you have coverage with USAA and switched to Wawanesa, you could realize annual savings of around $9. Insureds with Century National may save as much as $80 a year, and Nationwide customers might lower prices by up to $80 a year.
To find the cheapest coverage for you, click here to get a free quote or visit any of the low-priced companies below.
Bear in mind that those estimates are averages across all types of drivers and the different vehicles they drive and are not factoring in an exact zip code location for drivers over age 60. So the car insurance company that can offer you the best rate may not even be in the list above. That point stresses why you need to quote rates from many companies using your own driver data and vehicle information.
The information below shows how choosing a deductible can impact insurance prices when quoting cheap insurance for drivers over age 60. The premiums are based on a married male driver, full coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could reduce rates by $342 a year by increasing from a $100 deductible to a $500 deductible, or save $516 by choosing a $1,000 deductible. Even younger drivers, such as the Age 20 example, can cut as much as $1,026 annually by choosing larger deductibles on their policy.
When increasing deductibles, it will be necessary to have additional funds squirreled away to enable you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Insurance companies ranked
Picking the right car insurance company is difficult considering how many choices you have in California. The ranking information in the lists below may help you decide which car insurance providers to look at purchasing coverage from. These ratings only include companies with a national presence, so companies without a large exposure are not included in the list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| AAA of Southern California | 91 | 94 | 97 | 92% | A+ | 94.1 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Does full coverage make sense?
Paying less for insurance is the goal of the majority of people, and one good way to lower the cost of insurance for drivers over age 60 is to not buy full coverage. The illustration below shows the comparison of insurance costs with and without physical damage coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no policy discounts are applied.
Averaged out for all age groups, physical damage coverage costs $1,849 per year more than just buying liability insurance. At some point, almost every driver questions if buying full coverage is a good investment. There is no exact formula for eliminating physical damage insurance, but there is a general guideline you can use. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
There are a few cases where dropping full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage.