Who Has the Cheapest Auto Insurance for Drivers Over Age 70 in Washington?

When the topic is auto insurance, the word “cheap” shouldn’t be used anywhere to describe car insurance prices. Excuse the oxymoron, but cheap car insurance for drivers over age 70 may be a thing of the past. Don’t let that bother you, though, because we are going to show you how you can still get insurance that is cheaper than what you have now.

For Washington drivers, one of the components that help determine the policy price is your address. Regions with more people or even just more weather-related claims like Federal Way, Auburn, and Kent tend to have higher rates, whereas areas with less traffic congestion and claims tend to receive slightly lower rates.

The information below ranks the most costly cities in Washington for drivers over age 70 to purchase a policy in.

Table data uses comparative as specific location information can modify prices noticeably.

Cost and performance of the vehicle you are trying to insure is a large factor when comparing the cheapest auto insurance for drivers over age 70 in Washington. Vehicles with lots of horsepower, poor safety ratings, or a high likelihood of having liability claims will cost significantly more to insure than more modest models. The next lists presents car insurance premiums for a selection of the most economical vehicles to buy insurance for.

Table data represents married male driver age 70, no speeding tickets, no at-fault accidents, $1000 deductibles, and Washington minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Prices do not factor in specific Washington garaging location which can increase or decrease premiums significantly.

Prices above based on married male driver age 70, no speeding tickets, no at-fault accidents, $1000 deductibles, and Washington minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Prices do not factor in vehicle location which can raise or lower prices considerably.

Data based on married male driver age 70, no speeding tickets, no at-fault accidents, $1000 deductibles, and Washington minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Premium amounts do not factor in zip code location which can influence insurance rates substantially.

Finding cheap auto insurance is not the easiest thing to accomplish, and figuring out which company has the cheapest car insurance rates for drivers over age 70 will take even more rate comparisons. Rates will more than likely be slightly higher than the state average attributed to the potentially higher risk that comes with offering coverage for older drivers, but economical coverage may be attainable with some perseverence. Each auto insurer has a unique formula for filing rates in each state, so we’ll go over the car insurance companies with the most affordable rates in Washington.

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Capital quotes some of the cheapest car insurance rates in Washington at around $784 a year. Grange, Nationwide, PEMCO, and Travelers also are some of the more affordable Washington auto insurance companies.

As shown in the rates above, if you currently have coverage with Nationwide and switched to Capital, you might achieve annual savings of in the neighborhood of $197. Customers with PEMCO could save as much as $220 a year, and Travelers insureds might reduce prices by as much as $244 a year.

Understand that those premium estimates are averaged across all drivers and vehicles and and are not figured with a price increase for drivers over age 70. So the insurer that fits your age and vehicle best may not even be shown in the above list. That underscores the importance of why you need to compare rates from as many companies as possible using your own individual information.

Difference between liability only and full coverage rates

Finding the cheapest auto insurance for drivers over age 70 in Washington is the goal of most drivers, and an easy way to pay less for insurance is to not buy comprehensive and collision coverage. The example below illustrates the comparison of insurance rates with full phyical damage coverage and with liability coverage only. The premiums assume no claims, a clean driving record, $500 deductibles, drivers are not married, and no policy discounts are applied.

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If all age groups are averaged, comprehensive and collision coverage on your policy costs $1,525 per year over and above liability coverage. Many drivers may wonder if it’s a good idea to buy full coverage. There isn’t a steadfast formula to exclude physical damage insurance, but there is a general convention. If the annual cost of your full coverage insurance is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s claim settlement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $10,500 after the deductible is paid. If it’s costing in excess of $1,050 a year for your policy with full coverage, then it could be time to drop full coverage.

There are some circumstances where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

Which auto insurance company is best?

When shopping for car insurance for older drivers, the companies that insure more vehicles than anyone else are Allstate, State Farm, Geico, and Progressive. The table below compares some of the ratings and options that are available.