Best Cheap Car Insurance for Seniors in Virginia

The words “affordable” and “auto insurance” probably shouldn’t be used together, in particular when shopping around for the cheapest auto insurance for seniors. In an attempt to save some money, let’s start off by going over some of the factors that have an impact on car insurance rates, and figure out some ideas to reduce the price of your next policy.

Trying to find budget auto insurance is easier said than done, and determining which company offers the lowest-priced car insurance rates for seniors involves a bit more work. Coverage rates will most likely be slightly better than the state average due to the decrease in risk related to selling insurance for senior citizens. Reasonable insurance should be attainable from a lot of different companies.

Every auto insurer has their own process for filing rates in each state, so let’s rank the car insurance companies with the overall best prices in Virginia. It’s important to understand that Virginia car insurance rates are calculated based on many things which can significantly increase or decrease your annual premium. Price variation is why it is crucial to shop around when trying to find the cheapest auto insurance quotes for seniors. Prices can be determined by many factors and can change substantially, so the most economical company when you bought your policy may now be quite expensive.

Lowest Insurance Price Quotes for Mature Drivers

Click Here to Start Your Quote

Travelers normally has some of the most affordable car insurance rates in Virginia at around $659 each year. USAA, Cincinnati Insurance, Penn National, and Utica National also qualify as some of the cheaper Virginia car insurance companies.

As shown in the table above, if you buy coverage from Penn National and switched to Travelers, you may see yearly savings of in the neighborhood of $89. Drivers with Utica National may save as much as $122 a year, and Auto-Owners customers might reduce rates by $129 a year.

Remember that these estimates are averages across all ages of drivers and types of vehicles and do not take into consideration a price decrease for seniors. So the auto insurance company that is most affordable for your situation may not even be in the company chart above. That is why you need to compare as many prices as possible using your own specific driver information and vehicle.

The make and model of vehicle you are trying to insure is a large consideration when shopping for the best coverage for seniors. Vehicles with lower acceleration and performance, good safety features, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.

The information below shows car insurance costs for a selection of the more afforable automobiles to insure in Virginia.

Above prices assume married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Price information does not factor in vehicle location which can influence coverage rates substantially.

Looking at the rates, you can infer that makes and models like the Ford Escape, Honda CR-V, Honda Accord, Chevrolet Traverse, and Toyota Prius are the more affordable vehicles to insure for senior citizens.

When shopping for car insurance for senior citizens, one of the many things used to determine the amount you pay for auto insurance is where your residence is in Virginia. Cities with more crime and/or more people like Dale City, Burke, and Lake Ridge tend to have higher auto insurance costs, whereas more rural areas enjoy lower car insurance rates.

The following table ranks the priciest cities in Virginia for seniors to purchase car insurance in.

Rate information is estimated as zip code location can influence rates greatly.

Liability-only versus full coverage

Finding the best cheap auto insurance for seniors in Virginia is the goal of the majority of people, and one common way to lower the cost of insurance is to buy only liability coverage. The diagram below shows the difference between premium costs with and without physical damage coverage. Data assumes no claims or driving citations, $100 deductibles, single status, and no other discounts are factored in.

As an average, physical damage coverage costs an extra $1,481 per year more than insuring for liability only. Many people question if paying for full coverage is worth it. There is no definitive guideline to stop paying for physical damage insurance, but there is a general convention. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s assume your vehicle’s settlement value is $5,500 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $4,500 after paying your policy deductible. If premiums are more than $450 a year to have full coverage, then you might consider buying liability only.

There are a few cases where eliminating full coverage is not advised. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Best car insurance company in Virginia

Picking the highest-rated insurance provider can be rather challenging considering how many different insurance companies sell coverage in Virginia. The information below can help you decide which providers you want to consider to insure your vehicles.

The rankings below include the companies with a significant amount of written premium nationwide, so companies with more of a regional focus will not be included in these rankings. To check rates and find the cheapest rates for seniors, just click here.

Top 10 Large Auto Insurance Companies in Virginia Ranked by Value

1. Mercury Insurance
2. Travelers
3. Safeco Insurance
4. American Family
5. AAA Insurance
6. The Hartford
7. Progressive
8. Erie Insurance
9. The General
10. Esurance

Top 10 Large Auto Insurance Companies in Virginia Ranked by Customer Service

1. USAA
2. Travelers
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Safeco Insurance
7. Progressive
8. State Farm
9. The Hartford
10. The General

How to find cheaper car insurance for seniors

The list below shows some of the better penny-pinching ideas that can help drivers locate cheaper coverage.

• Drive vehicles with five-star safety ratings
• Increase your physical damage deductibles
• Too many claims can make car insurance unaffordable
• Better credit scores save money
• Do not pay for full coverage on older vehicles
• Save money by bundling your home and auto policies
• Keep rates low by shopping around frequently

The last idea is extremely critical, as was stressed in the prior information. Auto insurance prices vary considerably, so don’t be afraid to switch carriers if you find a better deal.

Staying with the same company for years is fine, but it’s not a good idea if that loyalty results in overpaying a considerable chunk of change every month. In just a few minutes you could compare prices and find cheaper insurance for seniors.