Establishing which companies offer the lowest-priced auto insurance rates for seniors requires a tad more effort than just getting one or two price quotes.
Every auto insurer has their own guidelines for setting rates, so let’s look at the rankings for the overall cheapest auto insurance companies in Georgia. It’s important to understand that Atlanta auto insurance rates are based on many factors which can substantially change the price you pay for coverage. Improving your credit score, moving to a new city, or getting a driving violation can produce rate changes resulting in some companies being affordable when they were higher priced.
Find the Best Cheap Insurance for Mature Drivers
Auto-Owners offers some of the cheapest car insurance rates in Atlanta at around $830 each year. The Hartford, USAA, Central Mutual, and MetLife are also some of the lowest-priced Atlanta, GA car insurance companies.
As depicted above, if you are a customer of Central Mutual and switched to The Hartford, you may see an annual savings of in the neighborhood of $298. Insureds with MetLife might save as much as $369 a year, and Georgia Farm Bureau policyholders might realize rate reductions of up to $378 a year.
If you want to find out if you’re overpaying, click here to start a quote or feel free to get quotes from the companies below.
Bear in mind that those policy prices are averaged for all types of drivers and the different vehicles they drive and do not factor in a vehicle location for seniors. So the car insurance company that fits you best may not even be in the top 20 companies shown above. That helps illustrate why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
The car, truck, or SUV requiring insurance is one of the primary factors when comparison shopping for cheap coverage for seniors. Vehicles with lower acceleration and performance, an excellent safety record, or a track record of few liability claims will cost substantially less to insure than higher performance models.
The table below outlines auto insurance prices for some of the cheaper vehicles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $1,240 |
| Honda CR-V EX 2WD | $1,246 |
| Toyota Prius | $1,381 |
| Ford Explorer XLT 4WD | $1,392 |
| Toyota Tacoma Double Cab 4WD | $1,471 |
| Dodge Grand Caravan Hero | $1,477 |
| Nissan Altima 2.5 4-Dr Sedan | $1,471 |
| Jeep Grand Cherokee Laredo 2WD | $1,479 |
| Toyota RAV4 Limited 4WD | $1,471 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,485 |
| Chevrolet Malibu LT | $1,502 |
| Honda Odyssey EX-L W/Navigation | $1,547 |
| Ford Edge Sport AWD | $1,553 |
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Prices above based on married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Estimates do not factor in zip code location which can modify premium rates greatly.
Looking at the data, makes and models like the Ford Escape, Honda CR-V, and Toyota Prius should be some of the most economical vehicles to insure for senior citizens.
One of the more important factors that are looked at to determine the amount you pay for auto insurance is where you live. More populated areas tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the gratification of cheaper auto insurance rates.
The following table lists the most expensive cities in Georgia for seniors to buy auto insurance in. Atlanta is ranked #2 with a yearly cost of $1,419 on average, which is about $118 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | East Point | $1,450 |
| 2 | Atlanta | $1,419 |
| 3 | North Atlanta | $1,310 |
| 4 | Marietta | $1,291 |
| 5 | Alpharetta | $1,284 |
| 6 | Dunwoody | $1,281 |
| 7 | Smyrna | $1,280 |
| 8 | Sandy Springs | $1,280 |
| 9 | Macon | $1,279 |
| 10 | Mableton | $1,267 |
| 11 | Columbus | $1,256 |
| 12 | Savannah | $1,239 |
| 13 | Roswell | $1,222 |
| 14 | Augusta | $1,221 |
| 15 | Peachtree City | $1,204 |
| 16 | Gainesville | $1,184 |
| 17 | Rome | $1,182 |
| 18 | Athens | $1,170 |
| 19 | Martinez | $1,152 |
| 20 | Warner Robins | $1,149 |
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Table data uses approximated as specific Atlanta zip code can affect price quotes greatly.
The information below shows how choosing a deductible can affect insurance prices when quoting cheap insurance for seniors. The premium estimates are based on a married female driver, full coverage, and no discounts are taken into consideration.
As shown above, a 50-year-old driver could save $364 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $546 by changing to a $1,000 deductible. Even younger drivers, such as the Age 20 example, could drop their prices up to $898 every year just by using higher deductibles.
When insureds make the decision to increase the deductibles on their policy, it will be important to have enough savings set aside to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Full coverage rates compared to liability only
Paying a lower price for auto insurance is important to the majority of vehicle owners, and a great way to find cheaper insurance for seniors is to not buy full coverage. The chart below compares auto insurance rates with and without full coverage. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, single status, and no other discounts are factored in.
Averaged out for all age groups, physical damage coverage on your policy costs $2,063 per year more than carrying just liability coverage. At some point, every insured wonders when is it a good idea to stop buying full coverage. There is no exact formula that is best for determining when to drop comp and collision coverage, but there is a general convention. If the annual cost of having full coverage is more than 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
There are a few situations where removing full coverage is not advised. If you still have a lienholder on your title, you have to carry full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
How to find the cheapest auto insurance for seniors
Here are some money-saving solutions that can help Georgia drivers find cheap coverage.
- Speeding tickets and other violations increase rates
- Frequent claims will increase rates
- Pay cheaper rates with good credit scores
- Remain accident-free and save
- Choose a safer vehicle and pay lower rates
- Keep rates low by comparing prices once a year
That last tip is incredibly necessary, as was emphasized in the prior article. Car insurance rates in Atlanta adjust often, so don’t be afraid to buy a different policy if a cheaper rate is available.
Having a favorite company is fine, but we do not recommend it if that faithfulness ends up costing you a small fortune. In just a couple of minutes you could compare rates and find cheaper auto insurance for seniors.