The words “cheap” and “auto insurance” really shouldn’t be used in the same sentence, specifically when you are shopping around for the cheapest coverage for drivers over age 60. In an attempt to save some money, let’s lead off by showing you a few of the things that have an impact on auto insurance prices, and see if you can lower the price of your next policy.
The vehicle model you are buying coverage for is one of the biggest factors when consumers are trying to find the best cheap coverage for drivers over age 60. Vehicles with more horsepower, poor safety features, or a track record of large liability claims will cost substantially more to insure than more modest models.
The list below estimates coverage prices for a selection of the most budget-friendly automobiles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$756|
|Ford Escape Limited 4WD||$821|
|Honda Odyssey LX||$833|
|Toyota Tacoma 4WD||$851|
|Ford Edge SE AWD||$881|
|Volkswagen Jetta S 4-Dr Sedan||$898|
|Toyota RAV4 Limited 4WD||$904|
|Ford Explorer Eddie Bauer 4WD||$917|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$926|
|Dodge Grand Caravan Crew||$917|
|Ford F-150 SVT Raptor Super Cab 4WD||$927|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$922|
|Ford Focus SES 4-Dr Sedan||$928|
|Hyundai Elantra GLS 4-Dr Sedan||$945|
|Chevrolet Impala LTZ||$952|
|Toyota Camry XLE||$945|
|Toyota Corolla S||$952|
|Hyundai Sonata GLS 4-Dr Sedan||$960|
|Nissan Rogue SL 2WD||$969|
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Premium data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium amounts do not factor in vehicle garaging location which can revise coverage prices considerably.
By looking at the data, we can infer that vehicles like the Honda CR-V, Ford Escape, Honda Odyssey, Toyota Prius, and Toyota Tacoma are the cheapest vehicles to insure for older drivers.
Establishing which companies offer the cheapest auto insurance rates for drivers over age 60 involves more work than just getting one or two price quotes.
Each insurer uses different criteria for determining rates, so let’s take a look at the auto insurance companies that tend to be cheaper in Texas. We do need to point out that Texas auto insurance rates are impacted by many things that control the cost of your policy. Getting older, moving across town, or getting a few speeding tickets may generate price changes that can make some companies cheaper in comparison to the competition.
Best Car Insurance Prices for Age 60+
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,247|
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Travelers has some of the most affordable car insurance rates in Austin at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also qualify as some of the cheapest Austin, TX auto insurance companies.
As shown above, if you are currently insured with Texas Farm Bureau and switched to Travelers, you could earn a yearly price reduction of roughly $237. Customers with Germania Mutual could save as much as $284 a year, and Esurance customers might lower prices by up to $369 a year.
These prices are averages across all drivers and vehicles in Texas and and are not figured with an exact vehicle garaging location for drivers over age 60. So the insurer that fits your situation best may not even be in the top 23 companies shown above. That underscores the importance of why you need to compare prices as often as possible using your own individual information.
One of the more important factors that help determine the amount you pay for auto insurance is where you call home. Cities with more crime and/or more people are more likely to pay higher prices, whereas areas with less people or fewer weather incidents receive better rates.
The following table sorts the most expensive areas in Texas for drivers over age 60 to purchase a policy in. Austin ranks #15 with the annual price of $1,659 for the average policy, which is about $138 monthly.
|Rank||City||Average Per Year|
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Rates are comparative as the specific area where the vehicle is garaged can decrease or increase auto insurance rates greatly.
Discounts on Austin insurance rates
Insurance providers that offer cheap quotes for drivers over age 60 may also give you rate discounts that can lower rates by as much as 30% if you are eligible. A list of auto insurance companies and a selection of discounts include:
- GEICO has discounts for anti-lock brakes, anti-theft, five-year accident-free, membership and employees, good student, and military active duty.
- MetLife has savings for accident-free, good student, defensive driver, multi-policy, good driver, claim-free
- Progressive offers discounts including homeowner, online quote discount, multi-policy, multi-vehicle, and online signing.
- Travelers offers premium reductions for good student, hybrid/electric vehicle, multi-policy, payment discounts, and early quote.
- SAFECO may offer discounts for teen safe driver, multi-car, anti-lock brakes, drive less, anti-theft, bundle discounts, and safe driver.
- AAA may include discounts for anti-theft, good student, multi-policy, pay-in-full, AAA membership discount, and education and occupation.
The example below shows the comparison of premium costs with and without discounts applied to the policy premium. The costs are based on a male driver, no claims or violations, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multiple vehicle, passive restraint, safe-driver, and accident-free discounts applied. When discounts are factored in, theaverage yearly reduction on auto insurance for drivers over age 60 is 30% or $647.
Which auto insurance company is best in Texas?
Picking a highly-rated auto insurance provider can be difficult considering how many different companies insure vehicles in Austin. The ranking information in the next section may help you select which car insurance companies to look at purchasing a policy from.
These ratings are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies that may only write in Texas are not taken into consideration for this list. If you would like to check rates from these and other competitive companies, just click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The information below illustrates how your choice of deductibles can affect yearly insurance costs when quoting cheap insurance for drivers over age 60. The price estimates are based on a married male driver, full coverage, and no additional discounts are factored in.
In the chart above, a 30-year-old driver could lower their car insurance rates by $352 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $534 by switching to a $1,000 deductible. Even younger drivers, such as the Age 20 example, could save up to $1,060 or more just by using higher deductibles. When raising deductibles, it’s a good idea to have spare funds to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Comparing rates can save you money
Austin auto insurance rates are influenced by many factors which can substantially decrease or increase your annual premium. Simply having another birthday, moving to a new city, or getting a reckless driving citation may prompt premium changes resulting in some companies being more affordable than before.
Not only may your risk profile change, but insurers file new Texas car insurance rates as needed to help ensure profitability. An unexpected high level of claims can cause more expensive prices, while less frequent claims can result in cheaper Austin car insurance rates.
To illustrate this example, the bar chart below shows the company with the cheapest car insurance in Austin, TX for a 35-year-old female driver with no accidents or violations, and a high credit rating. If we look at prices based on her personal profile, Travelers may offer the lowest car insurance rates in Austin at $1,096 a year. This is $808 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also included in the top five cheapest Austin, TX auto insurance companies.
The example below compares rates after we give the driver in the first chart a claim surcharge, a lower credit rating, and a couple of points charged on her driving record. Due to the fact that every auto insurer has their own guidelines for establishing rates, getting updated rate quotes could now result in a slightly different list of companies as shown below.
State Farm now has the cheapest price in Austin with Mercury, Safe Auto, USAA, and Nationwide now rounding out the top five. This demonstrates why it is critical to compare rates when trying to find cheap car insurance quotes for drivers over age 60. Prices are influenced by many factors and can change substantially, so the best company six months ago may now be wasting a lot of money.
The auto insurance agents in Austin shown below can help you decide which coverage meets your needs best, as some drivers wish to have the advice of a professional agent when shopping for the best coverage for older drivers. It can be complicated to find the cheapest auto insurance company, and a licensed agent can give you satisfaction knowing you have adequate protection in the event of a claim.
To locate an Austin insurance agent closest to you, click the button after the list.
Richard Munoz – State Farm Insurance Agent
5446 W US Hwy 290 Service Rd #104 – Austin, TX 78735 – (512) 892-3527
Allstate Insurance: Fleming and Conway Agency
3435 Greystone Dr Ste 107 – Austin, TX 78731 – (512) 345-0005
Carmina Eaton – State Farm Insurance Agent
4201 W Parmer Ln b170 – Austin, TX 78727 – (512) 244-6641
Capitol City Insurance
8030 N Mopac Expy – Austin, TX 78759 – (512) 343-0280