The words “affordable” and “insurance” probably shouldn’t be used in the same sentence, especially when searching for the best coverage prices for seniors. In an attempt to save some money, let’s familiarize you with some of the things the can have a considerable influence on insurance rates, and find out if we can help you take a little off the next policy you buy.
Finding reliable, cheap auto insurance is easier said than done, and figuring out which companies have the cheapest auto insurance rates for seniors requires even more perseverance. Every auto insurer has a unique approach for filing rates in each state, so we’ll go over the overall cheapest auto insurance companies in Arizona.
It’s a good idea to be aware that Arizona auto insurance rates are determined by lots of factors which can significantly increase or decrease the price you pay for coverage. This price variation is why drivers need to compare as many rates as possible to find the lowest auto insurance quotes for seniors. Insurance rates can be determined by many risk factors and change frequently, so the lowest-price company when you last compared rates may now be one of the more expensive options.
Find Cheaper Car Insurance for Mature Drivers
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,285|
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The Hartford normally has some of the most affordable car insurance rates in Phoenix at around $820 per year. This is $608 less than the average price paid by Arizona drivers of $1,428. Safeco, Auto-Owners, USAA, and Travelers would also be considered some of the best Phoenix, AZ insurance companies.
In the above rates, if you are currently insured with USAA and switched to The Hartford, you could earn a yearly savings of about $271. Customers with Travelers might save as much as $288 a year, and GEICO customers might cut rates by $311 a year.
These rates are averaged for all insureds and vehicles and and are not calculated with a specific vehicle garaging location for seniors. So the insurer that is best suited for you may not even be in the list above. That point stresses why you need to get rate quotes using your own personalized driver profile and vehicle information.
The vehicle model that is being insured is one of the largest factors that determines whether or not you find the cheapest car insurance for seniors. Vehicles with lower acceleration and performance, excellent safety ratings, or a track record of few liability claims will cost less to insure than adrenaline junky models. The next table shows car insurance rates for a handful of the most cost-effective vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$1,196|
|Ford Escape Limited 2WD||$1,226|
|Honda CR-V EX-L 4WD||$1,233|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,312|
|Dodge Grand Caravan CV||$1,343|
|Ford Edge SEL 2WD||$1,387|
|Chevrolet Impala LS||$1,397|
|Ford Fusion S 4-Dr Sedan||$1,418|
|Toyota RAV4 Sport 4WD||$1,424|
|Chevrolet Equinox LT 2WD||$1,418|
|Nissan Altima 2.5 4-Dr Sedan||$1,427|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,448|
|Chevrolet Malibu LT||$1,458|
|Ford F-150 SVT Raptor Super Cab 4WD||$1,448|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,454|
|Ford Explorer Limited AWD||$1,448|
|Ford Focus SEL 4-Dr Sedan||$1,462|
|Toyota Corolla XLE||$1,493|
|Hyundai Elantra GLS 4-Dr Sedan||$1,500|
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Above prices assume married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Estimates do not factor in specific zip code location which can raise or lower rates greatly.
Based on these rates, you can presume that makes and models like the Honda Accord, Ford Escape, Honda CR-V, Jeep Wrangler, and Toyota Prius should be some of the most economical vehicles to insure for senior citizens.
For senior citizens, one of the largest things that are looked at to determine insurance cost is where your residence is. Regions with more people or even just more weather-related claims tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive cheaper rates.
The following table shows the highest-priced places in Arizona for seniors to purchase car insurance in. Phoenix is listed at #1 with an annual rate of $1,231 for the average insurance policy, which is about $103 monthly.
|4||San Tan Valley||$1,161|
|25||Lake Havasu City||$844|
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Rate information is estimated as the specific geographic location can lower or raise coverage rates noticeably.
The chart below highlights how deductible selection can influence insurance costs when searching for cheap insurance for seniors. The data assumes a married male driver, full physical damage coverage, and no policy discounts are applied.
In the chart above, a 30-year-old driver could save $232 a year by switching from a $100 deductible to a $500 deductible, or save $352 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, could save $694 every year by selecting a higher deductible.
If you do raise deductibles, it will now be necessary to have plenty of savings on hand to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Does it make sense to buy full coverage?
Buying cheaper auto insurance is important to the majority of vehicle owners, and one of the fastest ways to save on the cost of insurance for seniors is to not buy comprehensive and collision coverage. The chart below visualizes the comparison of insurance premiums with and without physical damage coverage. The data assumes no violations or claims, $1,000 deductibles, single marital status, and no policy discounts are applied.
On average, physical damage insurance costs an additional $1,366 per year over liability only. At some point, about every driver wonders if buying full coverage is worth the expense. There is no definitive rule to delete comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
The importance of comparing Phoenix car insurance rates
Arizona auto insurance rates are impacted by many things which can significantly increase or decrease the cost of a policy. Simply having another birthday, increasing deductibles, or having an accident can trigger price changes resulting in some rates now being cheaper in comparison to the competition.
Additionally, car insurance companies change premium rates every year to ensure their profitability. Significantly higher claims may cause more expensive premiums, while a better loss history can result in cheaper Phoenix car insurance rates.
The graph below shows which companies have the cheapest car insurance in Phoenix, AZ for a 45-year-old male driver with a good driving record, no prior claims, and a good credit rating. If we estimate rates based on his current rating profile, The Hartford may offer the cheapest car insurance rates in Phoenix at $1,160 each year. This is $268 less than the average rate paid by Arizona drivers of $1,428. Safeco, Auto-Owners, USAA, and Progressive are the rest of the cheapest Phoenix, AZ auto insurance companies.
The next chart shows rates after we give the driver in the first example an accident claim, a little lower credit rating, and a few blemishes on his driving record. Since every insurance provider has their own process to set premium rates, comparing insurance quotes will most likely result in a different set of the cheapest companies as shown below.
GEICO now has the lowest car insurance rate in Phoenix with Ameriprise Group, CSAA, Safeco, and Allied now rounding out the top five. This example demonstrates why it is critical to shop around when trying to get the most affordable insurance quotes for seniors.
Rates are influenced by many things and change frequently, so the lowest-price company six months ago may now be quite expensive.
How to find more affordable insurance for seniors
Here are some of the better penny-pinching solutions that can help drivers locate lower-cost coverage.
- Older vehicles may not need full coverage
- Avoid accidents and claims
- Safe vehicles generally have lower rates
- Violations like speeding or DUI increase rates
- Buying home and auto together can help save money
- Too many claims can make car insurance unaffordable
- Look for cheaper rates once a year by shopping around
The last tip is extremely critical, as was stressed in the prior article. Auto insurance prices in Phoenix can change significantly in a year, so don’t be hesitant to switch to a new company if a better deal can be had. Having a favorite company is fine, but it isn’t a good idea if it’s costing you lots of hard earned cash every month. Take a couple minutes and compare prices to find cheaper car insurance for seniors.
The professional agents shown below are willing to help you decide which coverages and limits you need, as lots of drivers aren’t clear which coverage they need and would like to have the advice of a professional agent when shopping for the best coverage for seniors. It can be difficult to find the cheapest auto insurance company, and agents can give you comfort knowing your policy gives you suitable coverage if you have an accident. To find a Phoenix insurance agency closest to you, click the button following the list or click here to compare price quotes now.
- UNO Insurance Agency
3510 E Bell Rd # 2 – Phoenix, AZ 85032 – (602) 493-2300
- State Farm: Lynn Hennessy
4645 E Chandler Blvd #110 – Phoenix, AZ 85048 – (480) 759-0203
- Severiano Torres III – State Farm Insurance Agent
1820 N 75th Ave #106 – Phoenix, AZ 85035 – (623) 846-0240
- State Farm: Mat Herseth
751 E Union Hills Dr #A9, Phoenix 85024 – 751 E Union Hills Dr #A9, AZ 85024 – (602) 788-6700
- Justin Crain – State Farm Insurance Agent
6146 N 35th Ave #103 – Phoenix, AZ 85017 – (602) 242-4141