Driving as a senior comes with some perks… but, only for a certain extent. As a senior driver, you’d expect to pay a lower rate for your auto insurance. And, you do pay less than teen drivers, and even those in their early 20s. However, your low rates will begin to trickle up once again, after you hit a certain age. But, it’s not just your age that will affect your rates. Here we’ll cover what the average annual premium is for seniors, and how you can find some discounts for your policies as well.


Rate by the Decade

You will pay a specific rate for auto insurance based on age, here’s the breakdown

  1. If you’re in your 50s, you’re at the lowest rate, about $1100 annual premium
  2. The age 55 is considered the safest driving age, so you’re rates are going to reflect this
  3. If you’re in your 60s, you’ll pay about $1200 to $1500 for annual premiums
  4. Anyone from the age of 55 to 65 is going to pay the lowest rate; once you hit 66, rates start to trickle up again
  5. If you’re in your 70s, the rate you’ll pay is about $1500 for your annual premium
  6. Although it’s cheaper than teens and those in their early 20s, you see rates do tend to increase as your age does


Why Rates increase

At the age of 55 to 65, you’re considered the “safest driver.” You

  • Pay attention on the road
  • Are safe and alert
  • Don’t drive with your cell phone or other distractions
  • Tend to obey traffic rules and don’t get into accidents


You’re also more likely to do a driver’s training course to reduce your rates. But, once you hit the age of 65, this is when you begin to see rates jump. This is because you might not be as alert. Your reaction times are not as sharp. And, some seniors are going to have a harder time obeying rules, or seeing, which can further increase their on road danger/threat to other drivers on the road. So, their rates are going to reflect an increase because of these variables.


Can you reduce those rates?

It is possible to find lower rates, even as you get older. Some of the ways in which you can reduce your monthly and annual premiums as a senior who’s aging, and still wants to drive include

  1. Taking an online driver safety course, many insurers offer discounts for this
  2. Dropping coverage you don’t need
  3. Driving less
  4. Buying the right car and choosing one with safety features built into it
  5. Using safe driving techniques (if your insurer offers good driver discounts, you’ll reduce premiums for avoiding accidents and not getting infractions)
  6. Bundle if you have home, life, auto, and other insurance policies with the same insurer
  7. Look for insurers with AARP and other benefits/discounts (the Hartford is a prime example, that targets seniors age 55 and up as their demographic)
  8. Join discount clubs AARP and others
  9. Join alumni groups
  10. Remove people from your policy (the teenage kids, for example)

These are a few ways in which you can reduce your premium, even as you get older and continue to drive as a senior.

Some things don’t change

Even the safest drivers can’t change some variables. For example, where you live will cause rates to go up/down based on the dangerous driving conditions in the area. The minimum coverage won’t change either, seniors are required to buy a certain level of insurance. So, the best and only way to make sure you are finding the best rates in these cases, is for you to call around, get several quotes, and compare the many insurance policies that are available to you, in order to find the best rate possible when the time comes for you to choose your auto insurance policy and provider.

You need insurance, you might as well go with the right policy and coverage levels. As a senior driver, these are some of the factors which are going to affect your rates, and a few of the things you can do in order to help bring the cost of having an auto insurance policy down a bit, when you’re ready to choose an insurance provider.