For older drivers, one of the big factors that aid in calculating the price you pay for insurance is where you live. Cities with larger populations tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The illustration below ranks the highest-priced areas in California for drivers over age 60 to purchase a policy in. San Jose is listed at #18 with an annual premium of $1,437 for car insurance, which is about $120 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Glendale | $2,121 |
| 2 | Los Angeles | $2,104 |
| 3 | Oakland | $1,738 |
| 4 | San Francisco | $1,711 |
| 5 | Sacramento | $1,669 |
| 6 | San Bernardino | $1,628 |
| 7 | Long Beach | $1,610 |
| 8 | Stockton | $1,603 |
| 9 | Santa Clarita | $1,580 |
| 10 | Garden Grove | $1,570 |
| 11 | Moreno Valley | $1,551 |
| 12 | Fontana | $1,519 |
| 13 | Modesto | $1,502 |
| 14 | Riverside | $1,482 |
| 15 | Anaheim | $1,474 |
| 16 | Fresno | $1,472 |
| 17 | Santa Ana | $1,439 |
| 18 | San Jose | $1,437 |
| 19 | Irvine | $1,384 |
| 20 | Bakersfield | $1,381 |
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Information shown are approximated as the vehicle garaging location can increase or decrease premium rates greatly.
The vehicle you are seeking coverage for is one of the largest factors when looking for the most economical coverage for drivers over age 60. Vehicles with economical engines, an excellent safety record, or a low likelihood of having liability claims will cost less to insure than high performance models. The next list presents car insurance premiums for a number of the more affordable automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $847 |
| Honda CR-V LX 2WD | $854 |
| Honda Accord EX-L 4-Dr Sedan | $919 |
| Ford F-150 STX Regular Cab 2WD | $929 |
| Toyota Prius | $938 |
| Dodge Grand Caravan SE | $946 |
| Ford Explorer Eddie Bauer 2WD | $956 |
| Volkswagen Jetta SE 2.5 Station Wagon | $992 |
| Toyota Camry LE | $1,001 |
| Toyota RAV4 Limited 2WD | $1,010 |
| Chevrolet Malibu Hybrid | $1,001 |
| Chevrolet Equinox LS 2WD | $1,008 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,032 |
| Toyota Corolla XLE | $1,056 |
| Toyota Tacoma X-Runner 2WD | $1,062 |
| Honda Odyssey EX-L | $1,056 |
| Ford Edge Limited AWD | $1,064 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,056 |
| Chevrolet Impala LTZ | $1,063 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,074 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,079 |
| Jeep Grand Cherokee SRT-8 4WD | $1,074 |
| GMC Sierra SL Crew Cab 4WD | $1,083 |
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Data variables include single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Rate quotes do not factor in your specific San Jose, CA location which can modify premium rates greatly.
Based on these rates, vehicles like the Ford Escape, Honda CR-V, Honda Accord, Ford F-150, and Toyota Prius are most likely to be the less-costly vehicles to insure for older drivers.
Trying to buy reasonably-priced insurance is confusing at best, and finding out which insurers offer the cheapest auto insurance rates for drivers over age 60 calls for a bit more work. Each auto insurance company has their own process for determining prices, so let’s take a look at the lowest cost auto insurance companies in California.
Cheap Insurance Rates for Age 60+
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,155 |
| 2 | Century National | $1,190 |
| 3 | Wawanesa | $1,192 |
| 4 | CSAA | $1,198 |
| 5 | Nationwide | $1,226 |
| 6 | 21st Century | $1,325 |
| 7 | Grange | $1,447 |
| 8 | Mercury | $1,488 |
| 9 | Allstate | $1,497 |
| 10 | Progressive | $1,542 |
| 11 | GEICO | $1,559 |
| 12 | The Hartford | $1,575 |
| 13 | MetLife | $1,590 |
| 14 | Allied | $1,603 |
| 15 | State Farm | $1,682 |
| 16 | Unitrin | $1,750 |
| 17 | Esurance | $1,756 |
| 18 | Travelers | $1,842 |
| 19 | Bristol West | $1,849 |
| 20 | Farmers | $2,006 |
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USAA quotes some of the cheapest car insurance rates in San Jose at around $1,155 annually. This is $496 less than the average policy premium paid by California drivers of $1,651. Century National, Wawanesa, CSAA, and Nationwide also qualify as some of the most economical San Jose, CA insurance companies.
As illustrated above, if you have coverage with CSAA and switched to Century National, you could realize yearly savings of about $8. Customers with Nationwide could save as much as $36 a year, and 21st Century policyholders might reduce prices by as much as $135 a year.
Be aware that those policy rates are averages across all ages of drivers and types of vehicles and and are not calculated with a specific zip code for drivers over age 60. So the company that has the cheapest rates for you may not even be in the top 24 companies shown above. That underscores the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.
Should you buy full coverage?
Buying cheaper auto insurance is the goal of the majority of people, and one good way to buy cheaper insurance for drivers over age 60 is to buy liability only. The example below illustrates the difference between car insurance costs with and without full coverage. The rates are based on no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are applied to the premium.
If all age groups are averaged, full coverage on your policy costs an additional $3,147 per year over and above liability only. At some point, every insured wonders if physical damage coverage is worth the money. There isn’t a steadfast formula of when to drop full coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $8,000 after the deductible is paid. If premium cost is more than $800 a year for physical damage coverage, then you might want to think about dropping full coverage.
There are a few situations where buying only liability insurance is not a good plan. If you haven’t paid off your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should maintain full coverage.
Discount San Jose auto insurance
Auto insurance companies that offer quotes for drivers over age 60 may provide rate discounts that could reduce prices by as much as 30% if you can meet the requirements. A few popular companies and some of the discounts are included below.
- State Farm offers premium reductions for good driver, defensive driving training, multiple policy, safe vehicle, driver’s education, and good student.
- Progressive may include discounts for homeowner, good student, continuous coverage, multi-policy, online signing, and multi-vehicle.
- Travelers offers discounts for multi-car, payment discounts, multi-policy, IntelliDrive, early quote, student away at school, and home ownership.
- American Family discounts include accident-free, good student, multi-vehicle, good driver, air bags, bundled insurance, and TimeAway discount.
- Liberty Mutual offers discounts including hybrid vehicle, preferred payment discount, exclusive group savings, safety features, and teen driver discount.
The example below shows the comparison of auto insurance rates with and without some available policy discounts. The costs are based on a female driver, no claims or driving violations, California state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with accident-free, multiple vehicle, safe-driver, multiple policy, marriage, and passive restraint discounts applied. When drivers take advantage of discounts, the average savings per year on auto insurance for drivers over age 60 is 30% or $522.
Drive safe and save
The obvious way to receive low auto insurance premiums in California for older drivers is to drive safely and avoid getting tickets or having accidents. The diagram below shows how speeding tickets and at-fault collisions influence insurance costs for each different age category. Data assumes a single female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.
The chart shows that the average cost of a car insurance policy in California per year with no violations or accidents is $1,978. Receive one speeding ticket and the average cost surges to $2,243, an increase of $265 each year. Now include one accident along with the one speeding ticket and the 12-month cost of auto insurance for drivers over age 60 goes up to an average of $2,978. That’s an increase of $1,000, or $83 per month, just for not keeping your driving record clean!
Here’s why you should compare rates often
San Jose, CA auto insurance rates are calculated based on many things that control the price you pay. Simply having another birthday, having a teenage driver, or getting a couple of tickets can cause premium changes that can now make some companies more affordable than competitors. Also, auto insurance companies change premium rates at least once a year to adjust for unexpected claims or profits. Heavy losses may cause price increases, while a better loss history may result in cheaper San Jose car insurance rates.
The graph below shows the cheapest car insurance in San Jose, CA for a 30-year-old female driver with a good driving record, no prior claims, and a decent credit rating. Based on her current rating profile, USAA quotes the most affordable car insurance rates in San Jose at $1,181 annually. This is $470 less than the average price paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide also make the list of the cheapest San Jose, CA auto insurance companies.
The example below compares rates after we give the driver in the first example an at-fault accident, slightly worse credit, and a few traffic violations. Because each insurer has a different process to set premium rates, comparing prices will most likely result in a significantly different list of affordable San Jose car insurance companies as shown below.
Grange now has the lowest car insurance rate in San Jose, CA with Mercury, Allstate, GEICO, and Progressive now being in the top five. This example shows why it is crucial to compare lots of rates to get the most affordable car insurance quotes for drivers over age 60. Insurance prices are impacted by many things and can decrease or increase without notice, so the best price the last time you shopped around may now be quite expensive.
If you would rather have the advice of a professional agent when shopping for cheaper insurance for drivers over age 60, the insurance agencies listed below are willing to help you determine which coverage fits your budget. To locate an agency near you, click the button below the list or click here to compare price quotes now.
- HealthMarkets Insurance Agency
543 W Capitol Expy – San Jose, CA 95136 – (408) 441-7777 - Farmers Insurance
1080 Minnesota Ave # 4 – San Jose, CA 95125 – (408) 294-4348 - Jim Edington – State Farm Insurance Agent
361 Piercy Rd – San Jose, CA 95138 – (408) 225-2463