The words “cheap” and “insurance” really shouldn’t be used together, in particular when you are trying to find the cheapest coverage for drivers over age 70. Let’s start the ball rolling by going over a few of the things that can significantly affect insurance rates, and figure out some ideas to take the sting out of the next policy you buy.
The vehicle model needing coverage is probably the biggest factor when comparing low-cost coverage for drivers over age 70. Vehicles with average performance, a plethora of safety features, or a track record of few liability claims will cost much less to insure than higher performance models.
The information below shows auto insurance rates for a number of the most cost-effective automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,571|
|Ford Escape XLT 2WD||$1,576|
|Honda Accord LX 4-Dr Sedan||$1,571|
|Honda CR-V EX 4WD||$1,595|
|Jeep Wrangler Sport 4WD 2-Dr||$1,637|
|Ford F-150 STX Regular Cab 2WD||$1,736|
|Ford Explorer XLT AWD||$1,760|
|Ford Focus S 4-Dr Sedan||$1,837|
|Ford Edge SEL 2WD||$1,846|
|Honda Odyssey EX W/Rear Entertainment||$1,837|
|Nissan Altima 2.5 4-Dr Sedan||$1,861|
|Jeep Grand Cherokee Laredo 2WD||$1,871|
|Toyota RAV4 Sport 4WD||$1,861|
|Chevrolet Equinox LS 2WD||$1,869|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,887|
|Dodge Grand Caravan SXT||$1,895|
|Toyota Camry XLE||$1,959|
|Toyota Corolla LE||$1,964|
|Chevrolet Impala LTZ||$1,959|
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Data based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Estimates do not factor in the specific area where the vehicle is garaged which can influence premiums substantially.
Based upon these rates, we can conclude that vehicles like the Hyundai Elantra, Ford Escape, Honda Accord, and Honda CR-V should be some of the cheapest vehicles to insure for older drivers. The price for car insurance will be higher anyway because there is more claim exposure for drivers over age 70, but overall those models will have the best insurance prices compared to other types of vehicles.
Deciphering which insurers offer the cheapest car insurance rates for drivers over age 70 will involve a tad more effort than just getting one or two price quotes. Each auto insurance company uses a different method to establish rates, so let’s take a look at the most affordable car insurance companies in California.
Best Insurance Companies for Age 70+
|Rank||Company||Cost Per Year|
|Quote Your Rates Go|
USAA has some of the most affordable car insurance rates in San Francisco at around $1,109 each year. This is $542 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are also some of the best San Francisco, CA auto insurance companies.
As the rates illustrate above, if you are currently insured with CSAA and switched to Wawanesa, you might achieve an annual savings of upwards of $76. Policyholders with Nationwide may save as much as $104 a year, and 21st Century insureds might reduce rates by $220 a year.
To find the cheapest coverage for you, click here to get quotes or click several companies below for low rates.
Understand that those rates are averaged across all drivers and vehicles and do not factor in a specific location for drivers over age 70. So the auto insurance company that can offer you the lowest price may not even be in the top 24 companies in the list above. That underscores the importance of why you need to quote rates from many companies using your own specific driver information and vehicle.
One of the more important components that are used to help calculate insurance cost is the neighborhood you call home in San Francisco. More populated areas tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.
The table below sorts the priciest cities in California for drivers over age 70 to buy auto insurance in. San Francisco ranks #3 with a yearly premium of $1,745 for the average policyholder, which is around $145 per month.
|Rank||City||Premium Per Year|
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Rate information is comparative as the specific San Francisco residence address can revise insurance rates considerably.
Discount San Francisco car insurance
Car insurance companies that offer cheap quotes for drivers over age 70 could also offer premium discounts that can reduce rates by 40% or more if you meet specific criteria. The best car insurance companies and some of the discounts are included below.
- Progressive has savings for continuous coverage, homeowner, good student, online signing, multi-policy, online quote discount, and multi-vehicle.
- The Hartford has discounts for air bag, bundle, anti-theft, driver training, vehicle fuel type, and defensive driver.
- Mercury Insurance discounts include anti-theft, good driver, location of vehicle, low natural disaster claims, multi-car, and annual mileage.
- GEICO may offer discounts for multi-policy, defensive driver, emergency military deployment, anti-lock brakes, air bags, and driver training.
- AAA may include discounts for multi-car, AAA membership discount, good driver, pay-in-full, education and occupation, anti-theft, and good student.
- State Farm policyholders can earn discounts including anti-theft, multiple policy, good student, good driver, student away at school, multiple autos, and driver’s education.
The information below illustrates the comparison of car insurance rates with and without discounts being applied to the rates. The premiums assume a female driver, no claims or driving citations, California state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with claim-free, vehicle safety, multiple vehicle, passive restraint, defensive driving course, and safe-driver discounts applied. When drivers qualify for the discounts, the average amount saved each year on car insurance for drivers over age 70 is 28% or $905.
Liability rates compared to full coverage
Paying a lower price for car insurance should be important to the majority of vehicle owners, and one way to find cheap insurance for drivers over age 70 is to not buy comprehensive and collision coverage. The illustration below visualizes the comparison of yearly insurance costs with full coverage compared to only the California minimum liability coverage. The prices are based on no accidents, no driving violations, $100 deductibles, single status, and no policy discounts are applied.
If we average all the age groups together, comp and collision coverage costs $2,525 per year more than buying just liability insurance. Many people question if paying for full coverage is worth it. There isn’t a steadfast formula of when to drop comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s pretend your vehicle’s replacement cost is $10,500 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $9,500 after the policy deductible has been paid. If you are paying in excess of $950 annually to have full coverage, then it may be the right time to buy liability only.
Ending up with the top company can be rather challenging considering how many companies provide coverage in California. The company ratings displayed below can help you pick which insurers you want to consider purchasing a policy from.
The rankings below only include the largest companies in America, so smaller companies will not be included in these rankings. To compare rates from the insurers below and more, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|AAA of Southern California||91||94||97||92%||A+||94.1|
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Data Source: Insure.com Best Car Insurance Companies
How to find more affordable car insurance for drivers over age 70
It is possible to find better rates, and here are some of the better thrifty solutions that can help you get cheaper auto insurance.
- Avoid preventable accidents
- Avoid getting tickets or violations
- Vehicles with safetly features generally cost less to insure
- Having too many claims will increase rates substantially
- Buying home and auto together can help save money
- Shop around for cheaper prices often
That last tip is very critical, as was discussed in this piece. Car insurance rates fluctuate considerably, so don’t hesitate to buy from a new company if you find a cheaper price.
Having a favorite company is fine, but is isn’t recommended if your bullheadedness ends up costing you hundreds of dollars year after year. It only takes a couple minutes to shop around and find cheaper auto insurance for drivers over age 70 in San Francisco.
The agents shown below are willing to provide answers to your questions and help you determine which policy fits your needs best, since many people would rather have a little guidance when shopping around for cheaper insurance for older drivers. It can be hard to find coverage yourself, and agents can provide you comfort knowing your coverage gives you adequate asset protection. To find an agent closest to you, click the button at the bottom.
- Barulich Insurance Agency
San Francisco Pier 33 – Alcatraz Island #203 – San Francisco, CA 94111 – (415) 616-5911
- Milber Health Insurance Agent
1492 11th Ave – San Francisco, CA 94122 – (415) 564-8829
- Jerry Verdi – State Farm Insurance Agent
408 Columbus Ave #2 – San Francisco, CA 94133 – (415) 788-7881
- Joshin Bruguera – State Farm Insurance Agent
399 Cortland Ave – San Francisco, CA 94110 – (415) 821-3600