You have surely seen all the captivating commercials from companies like GEICO and State Farm that make promises of big savings, so you should just choose any one of them, right?
It’s just not that simple, as there are many unknown aspects like your credit score, whether or not your vehicle has good safety ratings, if you own a home, and the neighborhood you live in, that all have an effect on the price of a policy. This article should teach you a little about the things that influence insurance rates and hopefully give you enough understanding to have some help in finding cheaper rates.
For older drivers, one of the more important criteria that aid in calculating car insurance rates is where your residence is. More densely populated places likely pay more, whereas areas with less crime or weather claims have the luxury of cheap car insurance rates.
The following table rates the most costly cities in Florida for drivers over age 60 to buy auto insurance in. Orlando is ranked at #18 with an annual rate of $2,090 for car insurance, which is about $174 per month.
|5||West Palm Beach||$2,625|
|20||Port St. Lucie||$1,916|
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Rate information is comparative as specific Orlando garaging address can influence insurance rates greatly.
The vehicle model you are trying to insure is one of the largest considerations when comparison shopping for the best cheap auto insurance for drivers over age 60. Vehicles with more horsepower, poor passenger safety features, or a history of substantial liability claims will cost substantially more to insure than more modest models. The list below shows insurance prices for a number of the most economical vehicles to insure in Florida.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$1,135|
|Ford Escape XLS 4WD||$1,142|
|Honda CR-V LX 4WD||$1,135|
|Volkswagen Jetta S 2.5 Station Wagon||$1,232|
|Toyota Tacoma 2WD||$1,320|
|Ford Edge SE AWD||$1,325|
|Chevrolet Impala LS||$1,320|
|Chevrolet Equinox LT AWD||$1,344|
|Toyota Camry LE||$1,351|
|Toyota RAV4 4WD||$1,344|
|Chevrolet Malibu LT||$1,369|
|Dodge Grand Caravan SXT||$1,374|
|Ford F-150 SVT Raptor Super Cab 4WD||$1,369|
|Ford Explorer Eddie Bauer AWD||$1,375|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,388|
|Hyundai Elantra Blue 4-Dr Sedan||$1,393|
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Table data assumes single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Rate quotes do not factor in specific location which can lower or raise coverage prices greatly.
Looking at the numbers, we can presume that makes and models like the Honda Accord, Ford Escape, Honda CR-V, and Volkswagen Jetta will be some of the cheapest vehicles to insure for older drivers.
The chart below highlights how deductible choice can raise or lower annual premium costs when quoting cheap insurance for drivers over age 60. The premium estimates are based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.
The data above shows that a 50-year-old driver could lower rates by $332 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $500 by choosing a $1,000 deductible. Youthful drivers, like the age 20 example, could possibly save up to $838 or even more by selecting a higher deductible.
When using a larger deductible, it is a good idea to have plenty of savings on hand to satisfy the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
How accidents and tickets impact rates in Orlando
One of the best ways to maintain the most affordable insurance premiums for older drivers is to be a careful driver and avoid getting tickets or having accidents. The example below shows how traffic citations and at-fault fender-benders increase yearly insurance costs for different age groups. Data assumes a married female driver, full coverage, $500 deductibles, and no discounts are taken into consideration.
In the chart above, the average cost of a car insurance policy in Florida per year with a clean driving record and no accidents is $2,041. Get written up for one speeding ticket and the average cost rises to $2,382, an increase of $341 each year. Then include one accident along with the one speeding ticket and the yearly cost of insurance for drivers over age 60 goes up to an average of $3,330. That’s an increase of $1,289, or $107 per month, just for not driving carefully!
Picking the right insurance company is hard considering how many companies provide coverage in Florida. The company information shown next could help you decide which car insurance companies to look at when comparing rate quotes. These ratings are only comprised of the largest companies in America, so companies without a large exposure are not taken into consideration for this list.
Top 10 Large Auto Insurance Companies Overall in Orlando
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
How to find budget-friendly auto insurance for drivers over age 60
Lowering your rates is not difficult, and here are some of the better money-saving solutions that can help Florida drivers get lower-cost auto insurance.
- Increase your credit score
- At-fault accidents can raise rates significantly
- Buy a vehicle with excellent safety ratings
- Just one traffic violation will increase your rates
- Frequent claims may make car insurance unaffordable
- Compare rates once a year for cheaper prices
The last tip in the list is particularly valuable, as was stressed in the prior article. Insurance prices can be adjusted at any time, so don’t be afraid to switch to a new company if a more affordable price is available.
Having brand loyalty is commendable, but it isn’t a good idea if that loyalty ends up costing a lot of money. Now is a great time to compare prices and find cheaper insurance for drivers over age 60 in Orlando.
The agencies below can probably help you make a decision which auto insurance policy fits you best, since some people prefer to get some guidance when shopping for cheaper insurance for older drivers. It’s not always easy to find the best coverage yourself, so getting advice from a licensed agent can bring comfort knowing your policy gives you adequate protection in case of an accident or claim.
To find an auto insurance agency in your neighborhood, click the button at the bottom.
Helen Tallon – State Farm Insurance Agent
2813 S Hiawassee Rd #107 – Orlando, FL 32835 – (407) 522-9700
All Insurance Able
2319 S Goldenrod Rd – Orlando, FL 32822 – (407) 243-9700
National Insurance Agencies
1005 N Pine Hills Rd – Orlando, FL 32808 – (407) 480-5521
Budget Insurance Agency
5574 N Orange Blossom Trail – Orlando, FL 32808 – (321) 270-6385