The vehicle model requiring coverage is a significant factor when trying to find the most affordable car insurance for drivers over age 60. Vehicles with higher performance characteristics, poor crash test ratings, or a high likelihood of having liability claims will cost quite a bit more to insure than safer models. The information below showcases coverage costs for a number of the most economical automobiles to insure in Arizona.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$1,692|
|Honda CR-V EX-L 2WD||$1,731|
|Ford Escape Limited 4WD||$1,836|
|Ford Explorer XLT 2WD||$1,899|
|Toyota Tacoma 4WD||$1,904|
|Ford F-150 XL Crew Cab 2WD||$1,899|
|Dodge Grand Caravan CV||$1,905|
|Chevrolet Impala LS||$1,965|
|Chevrolet Equinox LT 2WD||$2,004|
|Toyota RAV4 Limited 4WD||$2,009|
|Chevrolet Malibu Hybrid||$2,004|
|GMC Sierra SLE Regular Cab 2WD||$2,012|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$2,073|
|Ford Edge Sport 2WD||$2,112|
|Hyundai Elantra SE 4-Dr Sedan||$2,119|
|Toyota Camry XLE||$2,112|
|Toyota Corolla XLE||$2,117|
|Honda Odyssey EX-L W/Navigation||$2,112|
|Kia Optima LX||$2,148|
|Volkswagen Jetta SE 4-Dr Sedan||$2,158|
|Chevrolet Silverado LT Regular Cab 2WD||$2,148|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$2,153|
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Data based on single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Premium amounts do not factor in specific location which can decrease or increase prices noticeably.
Looking at the numbers, we can expect cars like the Honda Accord, Honda CR-V, and Ford Escape will definitely be the cheaper vehicles to insure for older drivers.
For older drivers, one of the more important criteria that aid in calculating auto insurance rates is where you normally keep your vehicle. Regions with more people or even just more weather-related claims tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates profit from lower rates.
The table below lists the most costly cities in Arizona for drivers over age 60 to buy car insurance in. Phoenix is listed at #1 with the yearly price of $1,255 for the average policy, which is around $105 each month.
|Rank||City||Average Per Year|
|4||San Tan Valley||$1,161|
|25||Lake Havasu City||$870|
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Rate quotes are comparative as specific location information can revise premiums greatly.
Discount Phoenix car insurance
Insurance companies that offer cheap quotes for drivers over age 60 may also offer premium discounts that could reduce prices by as much as 35% if you can meet the requirements. Large insurance companies and their offered discounts are detailed below.
- Progressive offers discounts for good student, continuous coverage, online quote discount, multi-policy, and online signing.
- The Hartford offers premium reductions for air bag, good student, driver training, defensive driver, anti-theft, and bundle.
- Mercury Insurance may have discounts that include good student, age of vehicle, good driver, location of vehicle, annual mileage, and anti-theft.
- GEICO may include discounts for military active duty, emergency military deployment, driver training, five-year accident-free, daytime running lights, and anti-theft.
- AAA offers discounts including anti-theft, multi-car, education and occupation, good student, and good driver.
- State Farm discounts include Steer Clear safe driver discount, multiple policy, Drive Safe & Save, defensive driving training, good student, and multiple autos.
The diagram below illustrates the difference between insurance costs with and without discounts being applied to the rates. The costs are based on a female driver, no accidents, no driving violations, Arizona state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple vehicle, safe-driver, multiple policy, vehicle safety, accident-free, and defensive driving course discounts applied. When these discounts are applied to the policy premium, theamount saved on insurance for drivers over age 60 is 29% or $640.
Difference between liability only and full coverage rates
Buying cheaper insurance should be important to most people, and one great way to lower the cost of insurance for drivers over age 60 is to only pay for liability coverage. The example below illustrates the comparison of yearly insurance costs with full coverage compared to only the Arizona minimum liability coverage. The premiums assume no accidents, no driving violations, $1,000 deductibles, single marital status, and no policy discounts are applied.
If we average the cost for all age groups, comp and collision coverage costs an additional $1,263 per year more than carrying just liability coverage. That is a significant amount which raises the question if paying for full coverage is a waste of money. There is no clear-cut rule to stop buying comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
Tips for buying budget-friendly insurance for drivers over age 60
The list below summarizes a few penny-pinching suggestions that can help drivers get low-cost auto insurance.
- Save money by obeying traffic laws and keeping a clean driving record
- Increase deductibles to save money
- Claim-free drivers earn discounts
- Do not get into accidents that are your fault
- Assess whether full coverage is needed
- Keep rates low by shopping around frequently
The last idea is incredibly crucial, as we hit on in this write-up. Prices in Phoenix change a lot, so don’t be hesitant to change insurance companies if a better deal can be had.
Brand loyalty is great, but we do not recommend it if that stubbornness costs you a small fortune. Now is a great time to compare prices to find cheaper car insurance for drivers over age 60.