Trying to find cost effective auto insurance is not always easy, and finding out which insurers offer the best insurance rates for drivers over age 70 will take even more rate comparisons.
Every insurance company uses a slightly different approach for establishing rates, so first let’s look at the rankings for the overall cheapest insurance companies in Jacksonville, FL. It’s a good idea to know that Jacksonville, FL insurance rates are calculated based on many things that will increase or decrease the price you pay for coverage. Improving your financial situation, buying a new vehicle, or getting a ticket for careless driving may generate price changes resulting in some companies being way too expensive in comparison to the competition.
Cheap Insurance Rates for Age 70+
|Rank||Company||Cost Per Year|
|Get Personalized Rates Go|
USAA offers some of the lowest car insurance rates in Jacksonville at around $986 annually. This is $1,462 less than the average policy premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury would also be considered some of the cheaper Jacksonville, FL insurance companies.
In the rate table above, if you buy coverage from Progressive and switched to Electric, you may see savings of in the neighborhood of $99. Florida drivers with Mercury may save as much as $220 a year, and Travelers customers might lower prices by $232 a year.
Remember that these premium estimates are averages for all types of drivers and the different vehicles they drive and do not factor in an exact location for drivers over age 70. So the company that is best suited for you may not even be in the top 21 companies in the list above. That point stresses why you need to get quotes using your own driver and vehicle profiles.
For older drivers, one of the largest components that are used to help calculate auto insurance rates is where you normally keep your vehicle. Areas with more people or even just a higher incidence of claims tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.
The illustration below ranks the most costly cities in Florida for drivers over age 70 to purchase a policy in. Jacksonville is ranked at #18 having an annual price of $2,040 for the average policyholder, which is about $170 per month.
|5||West Palm Beach||$2,679|
|20||Port St. Lucie||$1,994|
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Prices are comparative as zip code location can lower or raise premiums considerably.
The illustration below illustrates how your deductible choice can influence insurance costs when searching for cheap insurance for drivers over age 70. The premium estimates are based on a single male driver, full coverage, and no additional discounts are factored in.
A 30-year-old driver could lower their car insurance rates by $522 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $786 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, can save as much as $1,550 every year by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it is important to have enough spare savings to be able to cover the extra out-of-pocket expense that comes with higher deductibles.
Discounts on Jacksonville insurance rates
Car insurance companies that offer cheap quotes for drivers over age 70 may also give you discounts that can lower rates by 25% or more if you are eligible. Companies and a partial list of their discounts are:
- Progressive policyholders can earn discounts including multi-vehicle, multi-policy, online signing, homeowner, continuous coverage, and online quote discount.
- GEICO may have discounts that include multi-policy, seat belt use, anti-lock brakes, daytime running lights, federal employee, and five-year accident-free.
- State Farm offers discounts including driver’s education, Steer Clear safe driver discount, accident-free, defensive driving training, and good student.
- Esurance may include discounts for DriveSense, multi-policy, Switch & Save, renters, defensive driver, safety device, and homeowner.
- The Hartford includes discounts for anti-theft, good student, bundle, air bag, driver training, vehicle fuel type, and defensive driver.
The illustration below shows the comparison of yearly insurance costs with and without discounts applied to the rates. Data assumes a male driver, no tickets, no at-fault accidents, Florida state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, accident-free, vehicle safety, multiple policy, marriage, and anti-theft discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on insurance for drivers over age 70 is 28% or $734.
Difference between liability only and full coverage rates
Saving money when shopping for insurance should be important to the majority of people, and one great way to find cheap insurance for drivers over age 70 is to not insure for full coverage. The information below illustrates the comparison of insurance costs with full physical damage coverage and with liability coverage only. The rates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are factored in.
If we average the cost for ages 20 through 70, physical damage coverage on your policy costs an additional $2,186 per year more than just buying liability insurance. That is a significant amount which raises the question if buying full coverage is worth the money. There is no definitive rule of when to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
There are some situations where removing full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
If you aren’t sure which coverage you need and prefer to have some professional guidance when trying to find the best insurance rates for older drivers, the agencies below can probably help you determine which policy is best. To find an auto insurance agency near you, click the button at the bottom of the list or click here to compare price quotes now.
Mizell Insurance Agency
11893 New Kings Rd – Jacksonville, FL 32219 – (904) 764-3336
Otis Johnson – State Farm Insurance Agent
1629 Race Track Rd Unit 104 – Jacksonville, FL 32259 – (904) 287-1523
13947 Beach Blvd #206 – Jacksonville, FL 32224 – (904) 992-0002
Luten Insurance Agency
3811 Blanding Blvd – Jacksonville, FL 32210 – (904) 771-6400
Cam Anderson – State Farm Insurance Agent
4555 San Juan Ave – Jacksonville, FL 32210 – (904) 381-1206