Best Car Insurance Companies for Seniors

Our survey also identified which specific insurance companies made seniors feel the most satisfied with their service. In other words, these are the car insurance companies considered best for seniors, chosen by the older drivers themselves.

Older people are a growing segment of the overall population, and drivers are keeping their licenses longer. Our survey revealed that more drivers ages 60 and older saw rate increases during the previous 12 months than did younger policyholders. Yet the Insurance Institute for Highway Safety (IIHS) reports that they were involved in fewer fatal collisions per capita than in the past. This contradiction underscores the importance for older drivers to compare rates every year or two to make sure that they’re getting the most coverage for their money. This is particularly valuable for drivers who are retired and on a fixed income. 

The good news is that many older drivers may be eligible for discounts due to low annual mileage, safe driving records, and even for simply being a mature driver. Further, there are senior-focused driving classes, like the online defensive driving course offered through AARP, that can reduce premiums. 

Among policyholders of all ages who switched insurance providers in the past year in our survey, the median annual premium savings was $461, with 28 percent saying they saved $250 to $499 and another 28 percent reporting that they saved $500 to $999. Thirteen percent said they saved at least $1,000. (Our survey also found that seniors pay a similar amount for their annual premium as do people in other age groups, with the total being a near match for the median premium for all ages, just under $1,500 a year).

“Based on this data, it is hard to overstate the importance of periodically comparison shopping for car insurance,” says Martin Lachter of Consumer Reports’ survey research unit. “Consumers can often find significant savings.”

Technology can help. Consumer Reports recommends that new- and used-car buyers of all ages seek the following safety features: automatic emergency braking (AEB), blind spot warning (BSW), and rear cross traffic warning (RCTW). Lane keeping assistance (LKA) can be beneficial as well. These driver assistance features can help reduce collisions by causing the vehicle to react to a situation that the driver may not be aware of, whether it’s approaching another vehicle too quickly, drifting in a lane, or seeing around adjacent cars (especially big SUVs and trucks) when backing out of a parking spot. 

“As older drivers may be experiencing physical limitations and slower reaction times, safety systems such as automatic emergency braking and blind spot warning can provide the additional assistance drivers need to help them avoid a crash and drive more confidently,” says Emily A. Thomas, PhD, associate director of auto safety at Consumer Reports. 

In addition, IIHS says that based on police reports, rearview cameras (standard on all models since the 2018 model year) and rear parking sensors have been shown to reduce crashes among older drivers when backing up. 

The key for all drivers is to get the odds on their side by driving a reliable vehicle outfitted with proven safety features and appropriate insurance protection. 

Below are the car insurance companies that seniors rated highest for satisfaction, ranked starting with the best company. This list differs from the ranking of insurance companies by policyholders of all ages, reflecting the experience and preferences of older drivers.