The type of vehicle requiring coverage is probably the largest consideration that determines the availability of affordable auto insurance for seniors. Vehicles with lots of horsepower, poor passenger safety features, or a high likelihood of having liability claims will cost much more to insure than more economical and safe models. The information below outlines coverage prices for a handful of the most cost-effective automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$934|
|Ford Escape XLS 4WD||$940|
|Honda CR-V EX 2WD||$934|
|Honda Accord EX-L 4-Dr Sedan||$1,012|
|Ford F-150 FX2 Super Cab 2WD||$1,046|
|Dodge Grand Caravan CV||$1,051|
|Toyota Tacoma 2WD||$1,081|
|Chevrolet Silverado LS Regular Cab 2WD||$1,100|
|Jeep Grand Cherokee Laredo 4WD||$1,103|
|Chevrolet Impala LT||$1,108|
|Toyota RAV4 Limited 4WD||$1,103|
|Nissan Altima 2.5 4-Dr Sedan||$1,113|
|Ford Fusion S 4-Dr Sedan||$1,103|
|Chevrolet Equinox LT 2WD||$1,111|
|Chevrolet Malibu Hybrid||$1,103|
|Ford Explorer Eddie Bauer 4WD||$1,127|
|Honda Civic VP 4-Dr Sedan||$1,139|
|Honda Odyssey EX-L||$1,161|
|Toyota Corolla S||$1,169|
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Premium data assumes married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate information does not factor in the specific area where the vehicle is garaged which can revise insurance rates substantially.
Based on these rates, cars like the Hyundai Elantra, Ford Escape, Honda CR-V, and Honda Accord are most likely to be a few of the cheaper vehicles to insure for senior citizens.
One of the more important criteria that are used to help calculate the price you pay for insurance is where your residence is. Areas with a lot of weather claims or more people tend to have higher rates, whereas less populated areas receive better rates.
The information below sorts the highest-priced places in North Carolina for seniors to purchase auto insurance in. Charlotte shows up at #3 with a yearly cost of $816 for car insurance, which is approximately $68 per month.
|Rank||City||Premium Per Year|
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Rate quotes are approximated as the specific geographic location can change coverage prices considerably.
The information below demonstrates how choosing different deductibles can influence insurance prices when researching cheap insurance for seniors. The premiums are based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 40-year-old driver could lower their car insurance rates by $170 a year by switching from a $100 deductible to a $500 deductible, or save $258 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could reduce their rates as much as $422 annually by choosing larger deductibles on their policy. If you make the decision to raise deductibles, it will be required to have spare funds to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Impact of citations and accidents on insurance rates
The recommended way to find the cheapest auto insurance prices for senior citizens is to be a good driver and avoid tickets and accidents. The diagram below demonstrates how citations and at-fault claims can raise insurance costs for each age group. The premiums are based on a single female driver, full coverage, $1,000 deductibles, and no discounts are factored in.
The data above shows the average cost of car insurance in North Carolina per year with no accidents and a clean driving record is $1,006. Receive one speeding ticket and the average cost surges to $1,141, an increase of $135 each year. Now add in two accidents along with the one speeding ticket and the yearly cost of auto insurance for seniors goes up to an average of $2,403. That’s an increase of $1,397, or $116 per month, just for not maintaining a clean driving record!
Get discount Charlotte car insurance rates
Insurance companies that provide coverage for seniors may also give you rate discounts that could potentially reduce rates by as much as 30% if you meet specific criteria. Larger auto insurance companies and a selection of discounts include:
- State Farm may offer discounts for safe vehicle, Steer Clear safe driver discount, defensive driving training, Drive Safe & Save, and student away at school.
- GEICO offers discounts including good student, multi-policy, multi-vehicle, daytime running lights, anti-theft, and five-year accident-free.
- Progressive includes discounts for online signing, online quote discount, continuous coverage, good student, multi-policy, and multi-vehicle.
- 21st Century has discounts for theft prevention, student driver, good student, teen driver, and anti-lock brakes.
- American Family may include discounts for Steer into Savings, good driver, early bird, air bags, mySafetyValet, and multi-vehicle.
- The Hartford may have discounts that include driver training, air bag, defensive driver, good student, bundle, anti-theft, and vehicle fuel type.
- AAA offers discounts for education and occupation, AAA membership discount, multi-policy, good student, pay-in-full, and good driver.
The diagram below illustrates the difference between auto insurance rates with and without discounts applied to the policy rates. The premiums assume a female driver, no accidents or driving violations, North Carolina state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with safe-driver, multiple vehicle, passive restraint, vehicle safety, accident-free, and marriage discounts applied. When these discounts are applied, the average savings per year on auto insurance for seniors is 29% or $495.
How to find low-cost auto insurance for seniors
The list below summarizes some thrifty solutions that can help North Carolina drivers get cheaper auto insurance.
- Buy your auto and home insurance from the same company and save
- Avoid accidents and claims
- Safer vehicles generally have cheaper insurance rates
- Maintain a clean driving record
- Save money by staying claim-free
- Ensure you have the best deal by shopping around regularly
That final tip is extraordinarily important, as was stressed in this article. Auto insurance rates change frequently, so drivers shouldn’t be reluctant to buy from a new company if a lower-cost policy is available.
Having a favorite company is fine, but it’s not recommended if that loyalty results in overpaying lots of hard earned cash every month. In less than five minutes you could compare prices to find cheaper insurance for seniors in Charlotte.
If you aren’t sure which coverage you need and prefer to get help from a professional when trying to find lower insurance rates for seniors, the insurance agencies listed below can answer your questions and help you decide which insurance coverage you need. To locate a Charlotte insurance agent in your neighborhood, click the button below the list.
7810 Ballantyne Commons Pkwy # 300 – Charlotte, NC 28277 – (704) 543-2700
Alex Williamson – State Farm Insurance Agent
4108 Park Rd #106 – Charlotte, NC 28209 – (704) 525-9995
3611 Mt Holly-Huntersville Rd #205 – Charlotte, NC 28216 – (704) 395-1239
The Jordan Insurance Agency,LLC
13860 Ballantyne Corporate Pl #120 – Charlotte, NC 28277 – (704) 926-7565
Nationwide Insurance – William Laurie Agency
8820 University E Dr Ste B – Charlotte, NC 28213 – (704) 945-2331