The words “low-priced” and “auto insurance” probably shouldn’t be used in the same sentence, specifically when trying to find the best car insurance for drivers over age 70. Let’s take a look at some situations that influence car insurance premiums, and figure out some ideas to take a little off the next policy you buy.
For older drivers, one of the largest criteria that aid in calculating the amount you pay for auto insurance is where you normally keep your vehicle. Larger areas tend to have higher rates, whereas more rural areas benefit from lower coverage costs.
The next table lists the priciest cities in Nebraska for drivers over age 70 to buy auto insurance in. Omaha is listed at #8 with the yearly price of $1,257 for car insurance, which is around $105 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Scottsbluff | $1,374 |
| 2 | Gering | $1,343 |
| 3 | Alliance | $1,340 |
| 4 | McCook | $1,331 |
| 5 | Lexington | $1,316 |
| 6 | South Sioux City | $1,303 |
| 7 | North Platte | $1,288 |
| 8 | Omaha | $1,257 |
| 9 | Crete | $1,234 |
| 10 | Seward | $1,227 |
| 11 | Beatrice | $1,222 |
| 12 | Nebraska City | $1,212 |
| 13 | Bellevue | $1,190 |
| 14 | Kearney | $1,188 |
| 15 | Blair | $1,188 |
| 16 | York | $1,180 |
| 17 | Grand Island | $1,170 |
| 18 | Hastings | $1,147 |
| 19 | Fremont | $1,142 |
| 20 | Columbus | $1,139 |
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Rate quotes are comparative as the vehicle garaging location can impact rates noticeably.
The type of vehicle you are insuring is a significant factor when trying to find the best insurance for drivers over age 70. Vehicles with lots of speed or power, poor crash test ratings, or a track record of large liability claims will cost more to insure than safer, lower-performance models.
The data below estimates car insurance costs for a number of the most budget-friendly vehicles to insure in Nebraska.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,240 |
| Honda CR-V EX-L 2WD | $1,262 |
| Honda Accord EX-L 4-Dr Sedan | $1,340 |
| Toyota Prius | $1,361 |
| Ford Explorer Eddie Bauer 2WD | $1,392 |
| Ford Edge Limited 2WD | $1,449 |
| Toyota RAV4 2WD | $1,470 |
| GMC Sierra SLE Regular Cab 2WD | $1,478 |
| Chevrolet Silverado LS Extended Cab 4WD | $1,470 |
| Chevrolet Impala LT | $1,479 |
| Chevrolet Malibu Hybrid | $1,470 |
| Chevrolet Equinox LS 2WD | $1,479 |
| Dodge Grand Caravan Crew | $1,491 |
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Prices above based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Prices do not factor in specific location information which can impact prices noticeably.
Looking at the numbers, we can conclude that makes and models like the Ford Escape, Honda CR-V, and Honda Accord will definitely be a few of the most budget-friendly vehicles to insure for older drivers. Rates will be more costly because there is more exposure for drivers over age 70, but in general those particular vehicles will probably have the best rates that you’ll find.
Buying budget insurance is not always easy, and figuring out which companies offer the best insurance rates for drivers over age 70 takes more quotes for comparison. Each auto insurer uses their own method for filing rates in each state, so we need to take a look at the insurance companies with the overall cheapest rates in Omaha.
It’s a good idea to know that Nebraska insurance rates are impacted by many things which can substantially change the price you have to pay for coverage. Simply having another birthday, increasing deductibles, or getting a ticket for running a stop sign may generate price changes resulting in some companies being more affordable than the competition.
Find the Cheapest Car Insurance for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $804 |
| 2 | The Hartford | $873 |
| 3 | Auto-Owners | $932 |
| 4 | Allied | $949 |
| 5 | Farmers Mutual of Nebraska | $989 |
| 6 | Nationwide | $1,007 |
| 7 | Farm Bureau Mutual | $1,010 |
| 8 | State Farm | $1,043 |
| 9 | American National | $1,065 |
| 10 | General Casualty | $1,125 |
| 11 | USAA | $1,128 |
| 12 | American Family | $1,258 |
| 13 | Iowa Mutual | $1,295 |
| 14 | GEICO | $1,308 |
| 15 | California Casualty | $1,309 |
| 16 | EMC | $1,314 |
| 17 | MetLife | $1,319 |
| 18 | Progressive | $1,445 |
| 19 | North Star | $1,642 |
| 20 | Farmers | $1,650 |
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Safeco normally has some of the most affordable car insurance rates in Omaha at around $804 a year. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska also rank well as some of the cheapest Omaha, NE auto insurance companies.
In the rate table above, if you are a policyholder with Farmers Mutual of Nebraska and switched to The Hartford, you might achieve annual savings of about $116. Customers with Nationwide could save as much as $134 a year, and Farm Bureau Mutual customers might lower prices by $137 a year.
To see how much you can save, click here to start your custom quote or click through to the companies below.
Remember that these policy prices are averaged for all drivers and vehicles in Nebraska and do not take into consideration a vehicle location for drivers over age 70. So the insurer that can offer the best rates for your situation may not even be in the top 24 companies in the list above. That helps illustrate why you need to get car insurance quotes using your own driver and vehicle profiles.
Careless Omaha drivers pay higher rates
The best way to obtain the best insurance premiums in Omaha for older drivers is to pay attention while driving and avoid traffic citations and accidents. The information below shows how traffic citations and at-fault collisions can affect insurance costs for different ages of insureds. The price estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of an auto insurance policy in Nebraska per year with a clean driving record and no accidents is $1,605. Receive two speeding tickets and the average cost rises to $2,138, an increase of $533 each year. Then add in two accidents along with the two speeding tickets and the annual cost of insurance for drivers over age 70 goes up to an average of $4,376. That’s an increase of $2,771, or $231 per month, just for being a less-than-perfect driver!
Full coverage rates vs. liability-only in Omaha
Saving money when shopping for insurance is important to most drivers, and one of the fastest ways to reduce the cost of insurance for drivers over age 70 is to not buy full coverage. The information below illustrates the difference between insurance rates when comparing full coverage to liability only. The data is based on no claims or driving violations, $500 deductibles, single status, and no discounts are applied to the premium.
As an average for all age groups, physical damage coverage on your policy costs $1,919 per year over and above liability only. That may make you wonder if buying full coverage is worth the money. There is no set guideline of when to eliminate physical damage insurance, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
There are some scenarios where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
The illustration below illustrates how choosing a deductible can affect insurance premiums when getting quotes for cheap insurance for drivers over age 70. The premiums assume a married female driver, comp and collision included, and no other discounts are factored in.
In the chart above, a 40-year-old driver could lower their car insurance rates by $246 a year by changing from a $100 deductible up to a $500 deductible, or save $370 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could potentially save up to $606 every year just by choosing larger deductibles.
When insureds make the decision to increase the deductibles on their policy, it’s a good idea to have additional savings on hand to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.