The words “affordable” and “auto insurance” really don’t belong together, specifically when comparison shopping for the cheapest auto insurance for drivers over age 70. To help control this cost, let’s open your eyes to a few of the things that can significantly affect insurance prices, and find some ways to lower the price of the next policy you buy.
The type of vehicle that is being insured is probably the biggest factor that determines whether or not you can buy affordable insurance for drivers over age 70. Vehicles with higher performance, a lack of advanced safety features, or a track record of large liability claims will cost substantially more to insure than more economical and safe models. The table below outlines auto insurance rates for some of the cheaper automobiles to insure in Virginia.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,324 |
| Ford Escape XLS 4WD | $1,331 |
| Toyota Prius | $1,453 |
| Dodge Grand Caravan SE | $1,487 |
| Ford F-150 XLT Super Cab 2WD | $1,497 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,487 |
| Ford Explorer XLT AWD | $1,496 |
| Chevrolet Impala LS | $1,551 |
| Toyota RAV4 Limited 4WD | $1,573 |
| Chevrolet Equinox LT 2WD | $1,582 |
| Chevrolet Malibu Hybrid | $1,573 |
| Jeep Grand Cherokee Laredo 4WD | $1,578 |
| Volkswagen Jetta S 4-Dr Sedan | $1,573 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,634 |
| Ford Focus SEL 4-Dr Sedan | $1,640 |
| Find Cheaper Rates Go | |
Cost estimates assume single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Information does not factor in specific zip code location which can revise insurance rates noticeably.
Looking at the data, makes and models like the Honda CR-V, Ford Escape, Toyota Prius, Dodge Grand Caravan, and Ford F-150 are most likely to be some of the most budget-friendly vehicles to insure for older drivers. Rates will tend to be higher just due to the fact that there is more exposure for drivers over age 70, but in general those specific models will most likely have the lowest insurance rates compared to other vehicles.
Determining which insurers offer the cheapest insurance rates for drivers over age 70 requires a bit more effort in order to find a policy that fits your budget. Each insurance company uses their own method for establishing rates, so to begin we’ll rank the most competitive insurance companies in Virginia Beach.
Keep in mind that Virginia Beach, VA insurance rates are based on many factors which can significantly increase or decrease the price of coverage. Simply having another birthday, buying a new vehicle, or getting a driving violation can trigger changes in premium that can cause some rates to be much cheaper than others.
Cheap Insurance Rates for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $653 |
| 2 | USAA | $695 |
| 3 | Penn National | $740 |
| 4 | Cincinnati Insurance | $755 |
| 5 | Utica National | $765 |
| 6 | Erie | $780 |
| 7 | Auto-Owners | $788 |
| 8 | The Hartford | $801 |
| 9 | Virginia Farm Bureau | $802 |
| 10 | Donegal Mutual | $878 |
| 11 | Nationwide | $925 |
| 12 | Allied | $1,022 |
| 13 | GEICO | $1,026 |
| 14 | ALFA | $1,028 |
| 15 | National Grange Mutual | $1,060 |
| 16 | Chubb | $1,112 |
| 17 | State Farm | $1,132 |
| 18 | Electric | $1,228 |
| 19 | Amica | $1,229 |
| 20 | Progressive | $1,259 |
| Find Your Rate Go | ||
Travelers quotes some of the best car insurance rates in Virginia Beach at around $653 each year. This is $505 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Utica National would also be considered some of the most economical Virginia Beach, VA car insurance companies.
As depicted above, if you are insured with Utica National and switched to USAA, you may realize annual savings of around $70. Virginia drivers with Erie might save as much as $85 a year, and Auto-Owners customers might reduce prices by as much as $93 a year.
To get a quick, customized rate comparison, click here to get quotes or quote prices from the following companies.
It’s important to note that these premium estimates are averages for all drivers and vehicles in Virginia and and are not calculated with an exact zip code location for drivers over age 70. So the company that can offer you the best rate may not even be in the list above. That illustrates why you need to get quotes using your own personal information and vehicle type.
One of the more important considerations that help determine the amount you pay for auto insurance is where you keep your vehicle in Virginia Beach. Areas with more people or even just a higher incidence of claims tend to have higher auto insurance costs, whereas more rural areas benefit from lower rates.
The information below rates the highest-priced places in Virginia for drivers over age 70 to buy an auto insurance policy in. Virginia Beach ranks #13 with a yearly premium of $948 for the average policy, which is approximately $79 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Burke | $1,068 |
| 2 | Dale City | $1,028 |
| 3 | Alexandria | $1,016 |
| 4 | Lake Ridge | $1,012 |
| 5 | Richmond | $1,005 |
| 6 | Centreville | $997 |
| 7 | Norfolk | $990 |
| 8 | McLean | $985 |
| 9 | Arlington | $983 |
| 10 | Reston | $983 |
| 11 | Hampton | $972 |
| 12 | Portsmouth | $963 |
| 13 | Virginia Beach | $948 |
| 14 | Danville | $940 |
| 15 | Tuckahoe | $939 |
| 16 | Chesapeake | $935 |
| 17 | Newport News | $930 |
| 18 | Suffolk | $910 |
| 19 | Leesburg | $904 |
| 20 | Charlottesville | $895 |
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Rate quotes are estimated as vehicle location can affect premium rates noticeably.
Discount Virginia Beach insurance rates
Insurance companies that provide coverage for drivers over age 70 may also offer policy discounts that can reduce rates by as much as 35% if you can meet the requirements. Larger insurance companies and their possible discounts are included below.
- GEICO offers discounts including emergency military deployment, driver training, daytime running lights, air bags, good student, and defensive driver.
- USAA offers discounts for loyalty savings, multi-policy, annual mileage, driver training, and good student.
- Progressive policyholders can earn discounts including multi-vehicle, multi-policy, good student, continuous coverage, homeowner, online signing, and online quote discount.
- American Family includes discounts for TimeAway discount, good student, accident-free, Steer into Savings, mySafetyValet, bundled insurance, and air bags.
- Esurance may have discounts that include homeowner, anti-theft, good driver, good student, safety device, and Switch & Save.
- Farmers Insurance has discounts for multi-car, bundle discounts, homeowner, switch companies, mature driver, and alternative fuel.
- State Farm has savings for accident-free, Steer Clear safe driver discount, driver’s education, good driver, anti-theft, multiple policy, and multiple autos.
The illustration below shows the difference between car insurance rates with and without policy discounts. The premiums assume a male driver, no violations or accidents, Virginia state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with vehicle safety, marriage, anti-theft, defensive driving course, safe-driver, and multiple vehicle discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on insurance for drivers over age 70 is 28% or $300.
The diagram below shows how choosing a deductible can increase or decrease insurance rates when getting quotes for cheap insurance for drivers over age 70. The rate quotes are based on a single male driver, comp and collision included, and no additional discounts are factored in.
As shown above, a 50-year-old driver could lower rates by $212 a year by changing from a $100 deductible up to a $500 deductible, or save $320 by using a $1,000 deductible. Young drivers, like the 20-year-old example, could reduce their rates $694 every year by choosing a larger deductible amount.
If you make the decision to raise deductibles, it will be important to have enough savings to satisfy the extra out-of-pocket expense associated with higher deductibles.
How to find budget-friendly auto insurance for drivers over age 70
The list below summarizes many penny-pinching suggestions that can help drivers find lower-cost coverage.
- Prevent price hikes by avoiding at-fault accidents
- Home or renters coverage can save on auto insurance
- Improve your credit
- Older vehicles may not need full coverage
- Drive safe vehicles
- Compare price quotes at least once a year
That last tip is extraordinarily valuable, as was noted in the prior information. Prices charged by companies in Virginia Beach change a lot, so don’t be tentative to switch carriers if you find a better deal. Having a favorite company is great, but is isn’t recommended if that faithfulness ends up costing you a fortune every year. If you have a few minutes, compare rates and find cheaper auto insurance for drivers over age 70.