You have most likely watched the ads from auto insurance companies like Farmers, Liberty Mutual, and State Farm claiming the cheapest price, so you should just pick the company with the catchiest ad, right?
It’s not quite that easy, unfortunately, as there are many unknown aspects like your credit history, your date of birth, your marital status, and the safety ratings of your vehicle, that all influence how much you pay for auto insurance. In this article, we will teach you about the best ways to avoid high prices and will hopefully give you a good beginning to your quest for cheaper car insurance.
The vehicle model that is being insured is a significant factor that determines whether or not you find the cheapest coverage for drivers over age 60. Vehicles with lots of speed or power, poor passenger safety features, or a track record of large liability claims will cost more to insure than safer, lower-performance models.
The information below shows coverage prices for a number of the most affordable vehicles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,411|
|Honda Accord EX 4-Dr Sedan||$1,417|
|Honda CR-V EX 4WD||$1,441|
|Ford Escape Limited 2WD||$1,448|
|Ford Edge SE 2WD||$1,553|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,584|
|Ford F-150 XLT Crew Cab 2WD||$1,592|
|Chevrolet Impala LS||$1,641|
|GMC Sierra SLE Crew Cab 2WD||$1,671|
|Chevrolet Equinox LT 2WD||$1,679|
|Chevrolet Malibu LS||$1,671|
|Toyota RAV4 Limited 2WD||$1,677|
|Ford Explorer Eddie Bauer AWD||$1,704|
|Dodge Grand Caravan SXT||$1,710|
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Data rating is based on single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Washington minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Prices do not factor in garaging location in Seattle, WA which can increase or decrease auto insurance rates noticeably.
Looking at the numbers, you can infer that cars like the Hyundai Elantra, Honda Accord, and Honda CR-V are going to be the most economical vehicles to insure for older drivers.
For older drivers, one of the largest things that are looked at to help calculate insurance cost is where you call home. More populated areas will most likely pay more, whereas less populated areas get the luxury of paying less.
The illustration below sorts the highest-priced places in Washington for drivers over age 60 in which to purchase auto insurance. Seattle is ranked at #8 with a yearly premium of $1,363 for the average insured, which is around $114 monthly.
|Rank||City||Average Per Year|
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Prices are comparative as the specific garaging location can raise or lower coverage rates substantially.
Liability rates compared to full coverage
Saving on insurance is probably important to most drivers, and one way to find cheap insurance for drivers over age 60 is to not buy comprehensive and collision coverage. The diagram below shows the difference between insurance premiums when comparing full coverage to liability only. The prices are based on no claims or driving citations, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.
If we average the cost for ages 20 through 70, comprehensive and collision coverage on your policy costs $1,242 per year over and above liability only. That is a significant amount which raises the question if paying for full coverage is worth it. There is no set guideline that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
Types of discounts on Seattle insurance rates
Insurers that offer coverage for drivers over age 60 may have premium discounts that could reduce prices by as much as 30% if you meet the requirements. The best insurance companies and their offered discounts are:
- State Farm has savings for multiple autos, student away at school, accident-free, driver’s education, Steer Clear safe driver discount, good student, and passive restraint.
- GEICO may have discounts that include good student, daytime running lights, membership and employees, defensive driver, and driver training.
- Progressive has discounts for good student, multi-policy, online signing, online quote discount, homeowner, and continuous coverage.
- 21st Century may offer discounts for teen driver, air bags, defensive driver, student driver, good student, and early bird.
- American Family includes discounts for defensive driver, bundled insurance, TimeAway discount, multi-vehicle, and good driver.
- The Hartford offers discounts for bundle, anti-theft, good student, defensive driver, vehicle fuel type, air bag, and driver training.
- AAA offers premium reductions for anti-theft, education and occupation, multi-policy, multi-car, good driver, and AAA membership discount.
The diagram below shows the difference between auto insurance costs with and without discounts applied to the policy rates. The data assumes a male driver, no claims or driving violations, Washington 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 safe-driver, homeowner, passive restraint, claim-free, marriage, and vehicle safety discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on insurance for drivers over age 60 is 30% or $684.
Who has the cheapest Seattle car insurance?
Seattle insurance rates are determined by lots of factors which can substantially change the price of your policy. Improving your credit score, getting divorced, or getting caught speeding can trigger changes in premium resulting in some companies being much cheaper than others.
In addition to those changes, insurers change prices multiple times each year in order to protect their financial rating. Unexpectedly high claims may result in rate increases, while long-term profits can result in lower-priced Seattle car insurance rates.
The bar chart below shows which company has the cheapest car insurance in Seattle, WA for a 40-year-old male driver with a clear driving record, no claims, and great credit. If we estimate rates based on his current situation, Capital might quote the best car insurance rates in Seattle at $1,066 a year. This is $346 less than the average price paid by Washington drivers of $1,412. Grange, Nationwide, PEMCO, and Travelers are the remaining cheapest Seattle, WA auto insurance companies.
In the next rate comparison, we’ll give the driver from the first rate comparison an accident surcharge, a lower credit rating, and a traffic citation. Due to the fact that each insurance company has a unique approach for determining rates, getting updated rate quotes may now result in a different list of affordable companies as shown below.
Mutual Enumclaw now has the best auto insurance rate in Seattle, WA with USAA, Chubb, Allied, and California Casualty completing the list. This illustrates why consumers need to perform a complete rate comparison when trying to get the most budget-friendly auto insurance rates for drivers over age 60. Insurance prices are influenced by many risk factors and change dramatically, so the cheapest option two years ago may now cost much more than other companies.
If you like to get some guidance when buying car insurance for drivers over age 60, the agents listed below can most likely help you decide which auto insurance policy would work best for you.
To find a Seattle insurance agent closest to you, click the button at the bottom of the list or click here to compare price quotes now.
George Fu – State Farm Insurance Agent
9026 Roosevelt Way NE – Seattle, WA 98115 – (206) 524-0330
Paulla Suy – State Farm Insurance Agent
900 S Jackson St #213 – Seattle, WA 98104 – (206) 381-3733
Grange Insurance Association
200 Cedar St – Seattle, WA 98121 – (800) 247-2643
Thury Foster – State Farm Insurance Agent
444 NE Ravenna Blvd #104 – Seattle, WA 98115 – (206) 985-2528
How to find the cheapest car insurance for drivers over age 60
The list below summarizes many money-saving ideas that can help drivers buy cheap auto insurance.
- Do not get traffic tickets
- Buy vehicles with five-star safety ratings
- Avoid preventable accidents
- Remove physical damage coverage on older vehicles
- Increase physical damage deductibles
- Good credit scores may lower your rates
- Compare quotes from other companies often
The last tip is extremely crucial, as was discussed in the prior article. Car insurance rates adjust often, so drivers shouldn’t be resistant to switch companies if you find a better deal. Brand loyalty is not necessarily bad, but it’s not a great idea if that stubbornness costs you major coinage every year. If you have a few minutes, now is a great time to shop around and find cheaper car insurance for drivers over age 60 in Seattle.