The vehicle you are seeking coverage for is one of the largest considerations when comparison shopping for the most affordable auto insurance for drivers over age 60. Vehicles with lots of speed or power, poor safety ratings, or a history of substantial liability claims will cost significantly more to insure than safer, lower-performance models. The table below presents coverage premiums for the most cost-effective vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$1,127|
|Honda CR-V EX-L 2WD||$1,152|
|Hyundai Elantra SE Touring Station Wagon||$1,222|
|Ford Escape Limited 4WD||$1,227|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,237|
|Dodge Grand Caravan SE||$1,261|
|Toyota Tacoma 4WD||$1,267|
|Ford Edge SEL 2WD||$1,307|
|Toyota RAV4 Sport 2WD||$1,331|
|Ford F-150 FX2 2WD||$1,353|
|Ford Explorer Limited AWD||$1,359|
|Chevrolet Impala LTZ||$1,404|
|Honda Odyssey EX-L W/Navigation||$1,413|
|Toyota Corolla LE||$1,404|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$1,426|
|Chevrolet Equinox LTZ 2WD||$1,432|
|Jeep Grand Cherokee SRT-8 4WD||$1,426|
|Chevrolet Malibu LTZ||$1,436|
|Chevrolet Silverado LS Crew Cab 4WD||$1,426|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,436|
|GMC Sierra 3500HD SLE Crew Cab 2WD||$1,450|
|Nissan Rogue SL AWD||$1,504|
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Data assumes single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Rates do not factor in specific location which can alter price quotes greatly.
Looking at the rates, we can infer that vehicles like the Honda Accord, Honda CR-V, Hyundai Elantra, and Ford Escape will definitely be a few of the more affordable vehicles to insure for older drivers.
Buying affordable auto insurance is hard enough, and deciding which companies offer the lowest-priced car insurance rates for drivers over age 60 takes a little more work. Each company has their own process for determining prices, so we'll go over the overall cheapest car insurance companies in Jacksonville.
It's important that readers know that Jacksonville, FL car insurance rates are based on many factors that control your annual premium. Improving your credit score, having a teenage driver, or getting a couple of tickets can trigger price changes that can cause some rates to be more affordable than others.
Best Auto Insurance Prices for Age 60+
|Rank||Company||Cost Per Year|
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USAA normally has some of the lowest car insurance rates in Jacksonville at around $986 annually. Electric, Amica, Progressive, and Travelers would also make the list of some of the cheapest Jacksonville, FL car insurance companies.
As the rates illustrate above, if you currently have coverage with Amica and switched to USAA, you might see an annual savings of in the neighborhood of $760. Florida drivers with Progressive may save as much as $843 a year, and Travelers customers might realize rate reductions of up to $883 a year.
It's important to note that these policy prices are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for drivers over age 60. So the company that has the cheapest rates for you may not even be in the top 21 companies in the list above. That point stresses why you need to get rate quotes from many companies using your own driver data and vehicle information.
For older drivers, one of the largest factors that are looked at to determine auto insurance rates is where your residence is. Areas with high crime rates or more dense population tend to have higher auto insurance costs, whereas areas with less congestion benefit from lower prices.
The illustration below rates the highest-priced areas in Florida for drivers over age 60 to buy an auto insurance policy in. Jacksonville shows up at #18 costing $2,040 for the average policyholder, which is about $170 monthly.
|Rank||City||Premium Per Year|
|6||West Palm Beach||$2,625|
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Rates are estimated as the vehicle garaging location can influence auto insurance rates noticeably.
How violations and accidents impact rates
In a perfect world, the ideal way to maintain affordable car insurance prices in Florida for older drivers is to drive carefully and avoid accidents and keep your driving record clean. The diagram below shows how violations and at-fault accidents influence auto insurance rates for each age group. The rates are based on a single male driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
The chart shows that the average cost of auto insurance per year with no violations or accidents is $2,385. Get one speeding ticket and the average cost jumps to $2,687, an increase of $301 each year. Next add one accident along with the one speeding ticket and the yearly cost of car insurance for drivers over age 60 goes up to an average of $3,535. That's an increase of $1,150, or $96 per month, just for not driving attentively!
Do you need full coverage?
Saving money when shopping for car insurance is important to the majority of vehicle owners, and one of the best ways to pay lower rates for insurance for drivers over age 60 is to only buy liability insurance. The example below illustrates the comparison of insurance prices with full physical damage coverage and with liability coverage only. The premiums are based on no accidents or driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.
As an average for all age groups, physical damage insurance costs $1,961 per year over liability only. Many drivers will wonder when is it safe to stop buying full coverage. There is no exact formula of when to exclude full coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
Get discounts on Jacksonville insurance rates
Insurance providers that provide coverage for drivers over age 60 could also offer premium discounts that can reduce rates by 40% or more if you meet eligibility requirements. A few of the larger companies and some of the premium reductions they offer are detailed below.
- State Farm may have discounts that include safe vehicle, multiple autos, multiple policy, Steer Clear safe driver discount, and driver's education.
- American Family has discounts for TimeAway discount, defensive driver, air bags, Steer into Savings, and mySafetyValet.
- GEICO offers discounts for daytime running lights, membership and employees, five-year accident-free, military active duty, seat belt use, and multi-vehicle.
- 21st Century may offer discounts for air bags, defensive driver, good student, teen driver, anti-lock brakes, and student driver.
- Progressive offers discounts including homeowner, continuous coverage, online quote discount, multi-vehicle, good student, online signing, and multi-policy.
The diagram below shows the comparison of insurance costs with and without discounts applied. The data assumes a male driver, no accidents or driving violations, Florida state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with anti-theft, vehicle safety, multiple vehicle, passive restraint, defensive driving course, and homeowner discounts applied. When taking advantage of discounts, the average savings per year on car insurance for drivers over age 60 is 30% or $955.