How Much Does Car Insurance Cost for Seniors in Idaho?

You have probably seen the commercials from car insurance companies like Liberty Mutual, Farmers, and Allstate promising enormous savings. So you should just pick the company with the best ad, right?

That is not the case, however, as there are many unknown elements such as your choice of liability limits, your credit score, and if you are married or single, that all impact the cost of coverage. Car insurance is kind of a dry topic, but this article will explain these factors and others that can influence the price of auto insurance and hopefully give you enough understanding to have a good start to your coverage search.

When shopping for car insurance for senior citizens, one of the many things that is looked at to determine auto insurance rates is the neighborhood you call home in Idaho. Areas with high crime rates or more dense population like Sandpoint, Ammon, and Moscow tend to pay slightly more, whereas areas with less congestion benefit from having to pay less for coverage.

The table below illustrates the higher priced cities in Idaho for seniors to buy an auto insurance policy in.

Table data uses approximated as the specific area where the vehicle is garaged can influence coverage prices substantially.

The vehicle model driven is one of the primary factors when looking for cheap car insurance for seniors in Idaho. Vehicles with lots of horsepower, poor safety features, or a high likelihood of having liability claims will cost more to insure than more modest models. The next tables ranks car insurance rates for a selection of the most cost-effective automobiles to buy insurance for.

Data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $1000 deductibles, and Idaho minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Prices do not factor in zip code location which can raise or lower premium rates significantly.

Prices based on married male driver age 60, no speeding tickets, no at-fault accidents, $1000 deductibles, and Idaho minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Rates do not factor in your specific Idaho location which can raise or lower prices greatly.

Data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $1000 deductibles, and Idaho minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Rate information does not factor in specific zip code location which can alter premium rates noticeably.

Determining which company quotes the lowest-priced insurance rates for seniors involves a little more work in order to find coverage that fits your buget. Every insurance company uses a different method to establish rates, so let’s take a look at the insurance companies with the overall best prices in Idaho.

We do need to point out that Idaho insurance rates are impacted by many things that will increase or decrease your annual premium. Improving your credit score, buying higher coverage limits, or getting a ticket for running a stop sign can trigger changes in premium that can now make some companies affordable when they were higher priced.

Best Cheap Insurance Rates for Mature Drivers

Click to Compare Rates Now

American National quotes some of the cheapest car insurance rates in Idaho at around $240 annually. Farm Bureau of ID Group, USAA, Oregon Mutual, and Travelers would also be considered some of the best Idaho insurance companies.

In the above rates, if you currently have coverage with Farm Bureau of ID Group and switched to American National, you could realize savings of in the vicinity of $288. Insureds with USAA could save as much as $312 a year, and Oregon Mutual policyholders might realize rate reductions of up to $418 a year.

To get a fast rate comparison, click here to start a quote or quote prices from the following companies.

Be aware that those premiums are averages for all types of insureds and vehicles and are not factoring in a rate discount for seniors. So the insurer that has the cheapest rates for you may not even be in the above list. That affirms the importance of why you need to compare as many prices as possible using your own driver information and specific vehicle type.

Full coverage or liability only

Finding cheap car insurance for seniors in Idaho is probably important to the majority of drivers, and one easy way to find cheap insurance is to not insure for full coverage. The diagram below visualizes the comparison of auto insurance costs with and without physical damage coverage. The costs are based on no violations or accidents, $250 deductibles, single status, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $250 Deductibles’, ‘Liability Only’],[‘Age 20’, 2897,953],[‘Age 30’, 1505,525],[‘Age 40’, 1489,487],[‘Age 50’, 1355,457],[‘Age 60’, 1311,449],[‘Age 70’, 1597,599]]);var options = {title: ‘Full Coverage Rates Compared to Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Idaho’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

On average, full coverage on your policy costs an extra $1,692 per year over having just liability coverage. At some point, about every driver wonders when is it safe to stop buying full coverage. There is no definitive guideline to drop physical damage coverage, but there is a general guideline. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let’s assume your vehicle’s book value is $7,500 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $6,500 after paying your deductible. If premiums are more than $650 a year to have full coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage.

Who is cheaper: State Farm, Geico, Progressive, or Allstate?

When it comes to auto insurance for senior citizens in Idaho, the top insurers to get price quotes from are State Farm, Geico, Progressive, and Allstate. Between them, they insure about 50% of all policies written. Each company has slightly different coverages and options that you can choose from. The following table breaks down ratings for price and service, as well as some optional coverages that are available.