The words “low-cost” and “auto insurance” really shouldn’t be used in the same sentence, in particular when you are searching for the cheapest auto insurance for seniors. In an attempt to save some money, let’s start the ball rolling by going over some situations that significantly impact insurance rates, and find some ways to slash the price of your next policy.
For senior citizens, one of the more important factors that help determine auto insurance rates is where you call home. Areas with more people or even just a higher incidence of claims tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.
The next table rates the highest-priced areas in Florida for seniors to buy auto insurance in. Orlando comes in at #18 with an annual cost of $2,069 for the average insured, which is around $172 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Hialeah | $3,523 |
| 2 | Miami | $3,241 |
| 3 | Miami Gardens | $3,149 |
| 4 | Miami Beach | $2,923 |
| 5 | West Palm Beach | $2,705 |
| 6 | Miramar | $2,603 |
| 7 | Fort Lauderdale | $2,550 |
| 8 | Coral Springs | $2,549 |
| 9 | Pompano Beach | $2,543 |
| 10 | Tampa | $2,532 |
| 11 | Hollywood | $2,526 |
| 12 | Davie | $2,473 |
| 13 | Pembroke Pines | $2,407 |
| 14 | Brandon | $2,298 |
| 15 | Clearwater | $2,260 |
| 16 | St. Petersburg | $2,196 |
| 17 | Spring Hill | $2,102 |
| 18 | Orlando | $2,069 |
| 19 | Jacksonville | $2,020 |
| 20 | Port St. Lucie | $1,935 |
| Start a Quote Go | ||
Information shown are comparative as specific Orlando zip code can influence price quotes significantly.
Locating budget insurance is tough enough, and determining which company quotes the most affordable insurance rates for seniors takes a bit more work. Each insurer has a different formula to determine rates, so first let’s look at the rankings for the most affordable insurance companies in Orlando.
Find the Best Cheap Insurance for Mature Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $948 |
| 2 | Electric | $1,712 |
| 3 | Amica | $1,764 |
| 4 | Progressive | $1,775 |
| 5 | Mercury | $1,933 |
| 6 | Travelers | $1,945 |
| 7 | Allied | $1,985 |
| 8 | Esurance | $2,020 |
| 9 | State Farm | $2,047 |
| 10 | GEICO | $2,108 |
| 11 | Auto-Owners | $2,149 |
| 12 | Allstate | $2,388 |
| 13 | 21st Century | $2,397 |
| 14 | Windhaven Insurance | $2,575 |
| 15 | Safeco | $2,987 |
| 16 | MetLife | $2,988 |
| 17 | Liberty Mutual | $3,039 |
| 18 | Hanover | $3,054 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $3,902 |
| Compare Rates Now Go | ||
USAA has some of the cheapest car insurance rates in Orlando at around $948 each year. This is $1,500 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury would also make the list of some of the cheaper Orlando, FL insurance companies.
As depicted above, if you have coverage with Mercury and switched to Electric, you may see savings of around $221. Customers with Travelers could save as much as $233 a year, and Allied customers might reduce prices by as much as $273 a year.
If you want to see how much you could save, click here to get a free quote or quote rates from the companies below.
Be aware that those policy rates are averages for all drivers and vehicles and do not factor in a vehicle location for seniors. So the auto insurance company that fits your situation best may not even be in the list above. That affirms the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.
The chart below illustrates how your choice of deductibles can change yearly insurance costs when researching cheap insurance for seniors. The price estimates are based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The chart above illustrates that a 40-year-old driver could reduce rates by $462 a year by increasing from a $100 deductible to a $500 deductible, or save $698 by choosing a $1,000 deductible. Even younger insureds, like the Age 20 category, could possibly save $1,174 every year just by choosing larger deductibles. When increasing deductibles, it is necessary to have enough savings set aside to enable you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
How violations and accidents impact rates
A great way to get low insurance premiums for senior citizens is to drive carefully and avoid traffic citations and accidents. The diagram below illustrates how speeding tickets and accidents can influence insurance costs for each different age category. The rate quotes are based on a single female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of auto insurance in Florida per year with a clean driving record and no accidents is $2,077. Receive two speeding tickets and the average cost jumps to $2,788, an increase of $711 each year. Now get one accident along with the two speeding tickets and the 12-month cost of insurance for seniors increases to an average of $3,496. That’s an increase of $1,419, or $118 per month, just for not keeping your driving record clean!
Why are you paying too much for Orlando car insurance?
Florida insurance rates are impacted by many things that control the cost of having a policy. Simply getting older, buying a different home, or getting a DUI can trigger changes in premium that can make some companies much cheaper than others.
Additionally, insurers amend premium rates as often as every quarter as an adjustment for underwriting gains or losses. Larger than normal claims can cause increased policy costs, while lower claim expenses can result in lower-priced Orlando car insurance rates.
As an example, the chart below shows the companies that have the cheapest car insurance in Orlando, FL for a 40-year-old female driver with no violations or accidents, and excellent credit. When comparing rates based on her current rating profile, USAA may offer the most affordable car insurance rates in Orlando at $1,204 a year. This is $1,244 less than the average policy premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are also included in the best Orlando, FL auto insurance companies.
Now let’s give the driver from above a chargeable accident, bad credit, and an imperfect driving record. Since each auto insurance company has a unique approach to set their prices, getting updated rate quotes could now result in a different set of the cheapest car insurance companies in Orlando as shown below.
USAA now has the cheapest car insurance in Orlando, FL with Allied, Esurance, State Farm, and Auto-Owners now rounding out the top five. This example shows why consumers need to perform a complete rate comparison to find the best insurance rates for seniors. Insurance prices can be determined by many risk factors and can decrease or increase without notice, so the cheapest company the last time you compared rates may now be costing you a lot of money.
How to find the cheapest auto insurance for seniors
The list below summarizes some money-saving solutions that can help Orlando drivers locate low-cost car insurance.
- Drive safe vehicles
- Drop full coverage on older vehicles
- Good credit can mean cheaper rates
- Buy your auto and home insurance from the same company and save
- Accident-free drivers may qualify for discounts
- Shop around for lower rates once a year
That last tip is remarkably important, as we discussed in this article. Prices charged by companies in Orlando vary considerably, so don’t hesitate 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 that faithfulness ends up costing you thousands of dollars over the life of your policy. In just a couple of minutes you could compare prices and find cheaper insurance for seniors.
If you have questions and prefer to get help from a professional when comparing insurance rates for senior citizens, the agencies below can aid you in deciding which auto insurance policy would work best for you. To find an auto insurance agency using an interactive map, click the button link following the list.
Alfredo Ortega – State Farm Insurance Agent
1118 Manor Dr – Orlando, FL 32807 – (407) 249-9999
Bruce Baltich – State Farm Insurance Agent
198 S Semoran Blvd – Orlando, FL 32807 – (407) 273-9170
Rocco English – State Farm Insurance Agent
7536 Dr Phillips Blvd #320 – Orlando, FL 32819 – (407) 351-5353