The words “cheap” and “auto insurance” probably shouldn’t be used in the same sentence, in particular when you are looking for the best car insurance rates for drivers over age 60. Because of the high cost, let’s open your eyes to some of the things that have an effect on car insurance prices, and come up with some ideas to reduce the price of your next policy.
The make and model of vehicle you are buying coverage for is probably the biggest factor that determines if you can find the most affordable insurance for drivers over age 60. Vehicles with high performance, a lack of advanced safety features, or a high likelihood of having liability claims will cost much more to insure than more modest models.
The next list features insurance premiums for a selection of the most affordable vehicles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,282 |
| Honda CR-V LX 2WD | $1,288 |
| Ford Escape XLT 4WD | $1,308 |
| Chevrolet Silverado LS Regular Cab 4WD | $1,410 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,420 |
| Toyota Prius | $1,418 |
| Dodge Grand Caravan CV | $1,436 |
| Ford Explorer Eddie Bauer 2WD | $1,441 |
| Chevrolet Impala LS | $1,491 |
| Honda Odyssey EX | $1,496 |
| Toyota Camry LE | $1,517 |
| Chevrolet Malibu Hybrid | $1,523 |
| Jeep Grand Cherokee Laredo 2WD | $1,517 |
| Start a Quote Go | |
Premium data assumes single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Price estimates do not factor in your specific Denver, CO location which can increase or decrease prices noticeably.
Based upon these rates, makes and models like the Hyundai Elantra, Honda CR-V, Ford Escape, Chevrolet Silverado, and Jeep Wrangler will be a few of the most affordable vehicles to insure for older drivers.
Comparing rates for low-priced car insurance is confusing at best, and finding out which companies quote the cheapest insurance rates for drivers over age 60 will involve additional perseverance. Each auto insurance company has their own unique process to set their prices, so first let’s look at the rankings for the insurance companies with the most affordable rates in Colorado.
Lowest Insurance Price Quotes for Age 60+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $987 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,155 |
| 5 | GEICO | $1,176 |
| 6 | Auto-Owners | $1,192 |
| 7 | Travelers | $1,219 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,262 |
| 10 | Progressive | $1,322 |
| 11 | Amica | $1,353 |
| 12 | Allied | $1,439 |
| 13 | California Casualty | $1,458 |
| 14 | Colorado Farm Bureau | $1,576 |
| 15 | Farmers | $1,581 |
| 16 | MetLife | $1,830 |
| 17 | Allstate | $2,015 |
| 18 | Encompass | $2,187 |
| 19 | Safeco | $2,522 |
| 20 | Titan | $2,738 |
| View More Rates Go | ||
The Hartford quotes some of the lowest car insurance rates in Denver at around $825 each year. Grange, USAA, Nationwide, and GEICO also make the cut as some of the lowest-priced Denver, CO insurance companies.
As the rates illustrate above, if you currently have coverage with GEICO and switched to Grange, you might achieve an annual premium reduction of about $189. Insureds with Auto-Owners could save as much as $205 a year, and Travelers insureds might see rate reductions of $232 a year.
It’s important to note that these policy rates are averaged across all drivers and vehicles and and are not calculated with a vehicle location for drivers over age 60. So the auto insurance company that fits you best may not even be in the list above. That is why you need to get quotes using your own driver and vehicle profiles.
For older drivers, one of the big criteria that determine the price you pay for insurance is where you keep your vehicle in Denver. More densely populated places are more likely to pay higher prices, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of cheap car insurance rates.
The illustration below shows the most costly cities in Colorado for drivers over age 60 to purchase auto insurance in. Denver ranks #3 with an annual rate of $1,397 for the average insurance policy, which is approximately $116 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Aurora | $1,403 |
| 2 | Pueblo | $1,397 |
| 3 | Denver | $1,397 |
| 4 | Commerce City | $1,368 |
| 5 | Security-Widefield | $1,343 |
| 6 | Northglenn | $1,342 |
| 7 | Ken Caryl | $1,326 |
| 8 | Lakewood | $1,324 |
| 9 | Thornton | $1,320 |
| 10 | Littleton | $1,293 |
| 11 | Brighton | $1,285 |
| 12 | Colorado Springs | $1,277 |
| 13 | Parker | $1,270 |
| 14 | Arvada | $1,269 |
| 15 | Highlands Ranch | $1,267 |
| 16 | Centennial | $1,265 |
| 17 | Castle Rock | $1,248 |
| 18 | Westminster | $1,246 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,171 |
| Find Cheaper Rates Go | ||
Rates are comparative as specific Denver zip code can modify price quotes noticeably.
Safe drivers pay less for insurance
The common sense way to find the best insurance premiums for older drivers is to be a careful driver and avoid accidents and violations. The chart below demonstrates how speeding tickets and accidents increase auto insurance costs for different insured age categories. The premiums are based on a single female driver, full coverage, $100 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of an auto insurance policy per year with no violations or accidents is $2,600. Receive two speeding tickets and the average cost hikes up to $3,501, an increase of $902 each year. Then include one accident along with the two speeding tickets and the yearly cost of insurance for drivers over age 60 increases to an average of $4,413. That’s an increase of $1,814, or $151 per month, just for being a careless driver!
Finding the highest-rated insurance provider is hard considering how many different companies insure vehicles in Colorado. The ranking information shown next can help you choose which auto insurance companies you want to consider when comparing rate quotes. The rankings below are only comprised of the largest companies in America, so companies that focus mainly on Colorado business are not included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Get discount Denver car insurance
Insurance companies that offer coverage for drivers over age 60 could also offer price discounts that could potentially reduce rates by as much as 30% if you are eligible for them. A list of insurance companies and some of the discounts are shown below.
- 21st Century discounts include theft prevention, student driver, homeowners, good student, anti-lock brakes, and defensive driver.
- State Farm offers discounts for Drive Safe & Save, safe vehicle, Steer Clear safe driver discount, accident-free, and passive restraint.
- AAA offers premium reductions for good student, multi-policy, AAA membership discount, anti-theft, pay-in-full, education and occupation, and multi-car.
- Liberty Mutual may have discounts that include new graduate, preferred payment discount, hybrid vehicle, good student, teen driver discount, exclusive group savings, and newly retired.
- Progressive has discounts for multi-vehicle, online signing, online quote discount, homeowner, continuous coverage, and good student.
The illustration below illustrates the comparison of insurance costs with and without discounts applied to the rates. Data assumes a female driver, no driving violations, no at-fault accidents, Colorado state minimum liability limits, full physical damage coverage, and $100 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, defensive driving course, multiple policy, safe-driver, and multiple vehicle discounts applied. When drivers take advantage of discounts, the average amount saved each year on insurance for drivers over age 60 is 29% or $752.
Why you should be comparing rates
Denver insurance rates are determined by lots of factors which can substantially decrease or increase the policy premium. Simply having another birthday, buying a new vehicle, or having a fender bender can trigger price changes resulting in some rates now being cheaper in comparison to the competition.
Not only may things change on your end, but insurers modify pricing multiple times each year to help ensure profitability. Heavy losses may cause high rates, while lower claim expenses can produce lower-cost Denver car insurance rates.
The chart below shows the company with the cheapest car insurance in Denver, CO for a 45-year-old female driver with no accidents or violations, and a good credit rating. When quoting prices based on her current risk factors, The Hartford has the most affordable car insurance rates in Denver at $1,079 a year. This is $499 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are the remaining most affordable Denver, CO auto insurance companies.
Now let’s give the driver from the first example a couple of claims, a lower credit rating, and an imperfect driving record. Since every car insurance company has their own unique process for determining rates in each state, comparing rates could result in a different ranking of cheap Denver auto insurance companies as shown below.
Travelers now has the cheapest auto insurance in Denver, CO with State Farm, American Family, Progressive, and Grange also being competitive. This example illustrates why consumers need to take the time to spend some time comparing rates when trying to find the best insurance quotes for drivers over age 60. Insurance rates can be determined by many factors and can decrease or increase without notice, so the best option a year ago may now cost much more than other companies.