The car, truck, or SUV you are trying to insure is one of the primary factors when comparison shopping for the best cheap car insurance for seniors. Vehicles with higher performance characteristics, poor passenger safety features, or a track record of large liability claims will cost quite a bit more to insure than more modest models. The table below outlines auto insurance rates for some of the most economical automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$994|
|Ford Escape XLS 4WD||$1,001|
|Honda CR-V EX-L 2WD||$1,018|
|Jeep Wrangler Sport 4WD 2-Dr||$1,026|
|Honda Odyssey LX||$1,090|
|Ford F-150 XL Regular Cab 4WD||$1,114|
|Dodge Grand Caravan CV||$1,122|
|Ford Explorer XLT 2WD||$1,114|
|Toyota Tacoma 4WD||$1,120|
|Chevrolet Impala LT||$1,176|
|Chevrolet Equinox LT AWD||$1,182|
|Volkswagen Jetta S 4-Dr Sedan||$1,176|
|Toyota RAV4 2WD||$1,183|
|Chevrolet Malibu LT||$1,198|
|Ford Focus SEL 4-Dr Sedan||$1,215|
|Ford Edge Sport AWD||$1,240|
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Data variables include married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Premium costs do not factor in specific zip code location which can alter price quotes substantially.
Based upon the rates shown, we can conclude that makes and models like the Honda Accord, Ford Escape, Honda CR-V, and Jeep Wrangler are most likely going to be the cheapest vehicles to insure for senior citizens.
One of the more important considerations that help determine the amount you pay each year for auto insurance is where you call home in Columbus. Areas with more people or more claims tend to pay slightly more, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The following table ranks the priciest cities in Ohio for seniors to purchase a policy in. Columbus is ranked #4 with a yearly cost of $1,235 on average, which is about $103 monthly.
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Table data uses estimated as specific Columbus garaging address can increase or decrease price quotes greatly.
Discount Columbus auto insurance rates
Insurers that offer coverage for seniors may also offer special discounts that may potentially lower prices by as much as 35% if you qualify for them. Companies and some of the premium reductions they offer are shown below.
- Progressive includes discounts for online signing, online quote discount, good student, continuous coverage, multi-vehicle, homeowner, and multi-policy.
- MetLife has savings for claim-free, defensive driver, accident-free, good student, good driver, and multi-policy.
- Mercury Insurance has discounts for location of vehicle, low natural disaster claims, annual mileage, ease of repair, type of vehicle, multi-policy, and good driver.
- Nationwide may have discounts that include family plan, defensive driving, anti-theft, accident-free, and multi-policy.
- GEICO offers discounts including driver training, good student, emergency military deployment, anti-lock brakes, and multi-policy.
- AAA policyholders can earn discounts including pay-in-full, multi-policy, education and occupation, good student, and anti-theft.
The information below shows the comparison of yearly insurance costs with and without discounts applied to the policy rates. The data assumes a male driver, no claims, a clean driving record, Ohio 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 lower bar shows the rates with defensive driving course, marriage, vehicle safety, multiple vehicle, passive restraint, and claim-free discounts applied. With discounts applied, theamount saved on insurance for seniors is 30% or $307.
Should you buy full coverage?
Paying a lower price for insurance should be important to the majority of people, and one great way to find cheaper insurance for seniors is to buy only liability coverage. The information below illustrates the comparison of car insurance costs with full coverage and liability only. The premiums assume no claims or driving citations, $500 deductibles, drivers are single, and no discounts are taken into consideration.
If we average the cost for ages 20 through 70, physical damage insurance costs an additional $1,436 per year more than just buying liability only. A very common question is if physical damage coverage is worth the money. There isn’t a written rule of when to eliminate physical damage coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after the policy deductible has been paid. If premiums are more than $200 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
Low rates today, overpriced tomorrow
Columbus insurance rates are determined by lots of factors that control the cost of your policy. Simply having a birthday, buying another vehicle, or getting a DUI may generate price changes that can make some companies more affordable than the competition. In addition, auto insurance companies modify rates as needed to reflect underwriting profits or losses. Heavy losses can result in high rates, while lower claims may result in lower-cost Columbus car insurance rates.
For instance, the chart below shows which companies have the cheapest car insurance in Columbus, OH for a 30-year-old male driver with no violations or accidents, and excellent credit. If we estimate prices based on his current risk factors, Utica National has the lowest car insurance rates in Columbus at $804 each year. This is $236 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers round out the rest of the top five cheapest Columbus, OH auto insurance companies.
Now we will give the driver from the above example a chargeable accident, poor credit, and a blemish on his driving record. Because each company uses their own method for filing rates in each state, comparing insurance quotes may now result in a new list of the cheapest car insurance companies in Columbus as shown below.
Cincinnati Insurance now has the lowest price on auto insurance in Columbus with Merchants Insurance Group, Motorists Mutual, Grange Mutual, and General Casualty also being competitive. This example proves why consumers need to take the time to shop around when trying to find the most affordable car insurance quotes for seniors. Auto insurance prices can be altered by many things and change substantially, so the cheapest option the last time you compared rates may now be costing you a lot of money.
The auto insurance agents in Columbus shown below can probably provide answers to your questions and help you determine which is the best policy, since many consumers aren’t sure which coverage to buy and prefer to have the advice of a professional agent when shopping for cheaper insurance for seniors. It’s not always easy to find the cheapest auto insurance company, and getting advice from a licensed Ohio insurance agent can give you comfort knowing your coverage gives you sufficient protection if you have a claim. To find an auto insurance agency by location nearest to you, click the button link following the list.
- Nikki Ogunduyile – State Farm Insurance Agent
20 S 3rd St #210 – Columbus, OH 43215 – (614) 274-7130
- Danny Hilton – State Farm Insurance Agent
3276 Morse Rd b – Columbus, OH 43231 – (614) 475-8808
- Jonathan Yu – State Farm Insurance Agent
1930 Crown Park Ct #140 – Columbus, OH 43235 – (614) 885-9507
How to find low-cost car insurance for seniors
It’s not impossible to find cheaper rates, and here are some money-saving ideas that can help Ohio drivers find cheaper auto insurance.
- Serious violations like DUI or reckless driving can increase rates dramatically
- Claim-free drivers earn discounts
- Buying home and auto insurance together can earn discounts
- Drive attentively and avoid accidents
- Vehicles with good safety ratings are usually cheaper to insure
- Compare rates often to find the best deal
That last tip is especially valuable, as was noted in this article. Auto insurance rates in Columbus vary greatly, so drivers shouldn’t be reluctant to buy a policy from a new company if a lower-cost policy is available. Sticking with a specific company is fine, but is isn’t recommended if that stubbornness costs you big bucks every year. Now is a great time to compare prices and find cheaper insurance for seniors.