The words “affordable” and “insurance” really don’t belong together, in particular when you are looking for the best car insurance rates for drivers over age 70. In an attempt to save some money, let’s teach you some situations that impact auto insurance premiums, and see if we can help you take the bite out of the next policy you buy.
The make and model of vehicle that needs insurance is probably the biggest factor that determines the availability of the lowest-priced coverage for drivers over age 70. Vehicles with economical engines, modern passenger safety features, or a low likelihood of liability claims will cost substantially less to insure than high performance models. The next list ranks insurance rates for some of the most budget-friendly automobiles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,692|
|Hyundai Elantra GLS Touring Station Wagon||$1,702|
|Ford Escape XLT 4WD||$1,718|
|Dodge Grand Caravan CV||$1,900|
|Ford Explorer Eddie Bauer 2WD||$1,910|
|Ford Edge SE AWD||$1,977|
|Chevrolet Impala LS||$1,982|
|Jeep Grand Cherokee Laredo 4WD||$2,004|
|Chevrolet Malibu Hybrid||$2,012|
|Toyota RAV4 Sport 4WD||$2,004|
|Ford F-150 XLT Crew Cab 4WD||$2,028|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$2,036|
|Honda Civic EX 4-Dr Sedan||$2,081|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$2,097|
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Prices based on single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Rate quotes do not factor in specific location information which can increase or decrease premium rates greatly.
Based upon these rates, models like the Honda CR-V, Hyundai Elantra, Ford Escape, Toyota Prius, and Dodge Grand Caravan are some of the cheaper vehicles to insure for older drivers. The cost of a car insurance policy will be more expensive because there is more claim risk for drivers over age 70, but in general those specific models will have the lowest prices that you’ll find.
One of the many things that are looked at to determine the cost of insurance is where you choose to live. Cities with more crime and/or more people will most likely pay more, whereas more rural areas profit from lower rates.
The information below shows the most costly cities in Arizona for drivers over age 70 to buy car insurance in. Chandler ranks #9 having an annual price of $1,126 for the average policy, which is approximately $94 per month.
|4||San Tan Valley||$1,196|
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Prices are estimated as the specific Chandler residence address can alter coverage prices substantially.
Finding a good quality insurance provider can be a challenge considering how many different companies insure vehicles in Chandler. The information displayed below may help you decide which coverage providers to look at when comparing rate quotes.
These ratings only include the largest companies in the United States, so smaller companies are not included in the list. To compare price quotes from these and other companies in Arizona, follow this link.
Top 10 Large Auto Insurance Companies in Chandler Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- Nationwide – 90%
- The Hartford – 89%
- GEICO – 89%
- The General – 88%
- 21st Century – 88%
- Liberty Mutual – 88%
Top 10 Large Auto Insurance Companies in Chandler Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- Mercury Insurance
- AAA Insurance
- State Farm
The illustration below illustrates how choosing a deductible can raise or lower insurance premiums when searching for cheap insurance for drivers over age 70. The premium estimates are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could cut expenses by $312 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $468 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, could shave $950 every year by selecting a higher deductible. When using a larger deductible, it is essential to have plenty of savings on hand to pay the extra out-of-pocket expense that comes with higher deductibles.
Comparison of full coverage and liability-only policies
Paying less for car insurance is important to most vehicle owners, and an effective way to reduce the cost of insurance for drivers over age 70 is to not pay for full coverage. The chart below visualizes the comparison of insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Arizona. The rates are based on no accidents or driving violations, $500 deductibles, single marital status, and no discounts are applied to the premium.
If we average all the age groups together, full coverage on your policy costs $1,417 per year over and above liability only. Lot’s of drivers question if it’s a good idea to buy full coverage. There is no written rule for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s assume your vehicle’s settlement value is $11,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $10,000 after the deductible is paid. If it’s costing you more than $1,000 a year for full coverage, then it might be time to buy liability only.
Here’s why price comparisons are so important
Chandler, AZ car insurance rates are impacted by many factors that control the policy premium. Getting older, buying a home instead of renting, or getting into an accident can cause premium changes resulting in some companies being much cheaper than others. Also, auto insurance companies file new rates every year to adjust for gains or losses. A period of increased losses can result in higher priced premiums, while long-term profits may produce lower-priced Chandler car insurance rates.
For instance, the graph below shows the company with the cheapest car insurance in Chandler, AZ for a 45-year-old male driver with a good driving record, no prior claims, and solid credit. If we estimate prices based on his current situation, The Hartford has the cheapest car insurance rates in Chandler at $1,094 annually. This is $334 less than the average price paid by Arizona drivers of $1,428. Auto-Owners, Safeco, Travelers, and USAA are the remaining best Chandler, AZ auto insurance companies.
Now we will give the driver from above a chargeable claim, poor credit, and a speeding ticket. Due to the fact that each insurance company has a proprietary formula for setting rates, comparing insurance quotes may now present a different set of the cheapest Chandler car insurance companies as shown below.
GEICO now has the best price on car insurance in Chandler with Ameriprise Group, CSAA, Allied, and Farm Bureau Mutual also having competitive pricing. This example demonstrates why it is important to shop around to get the most budget-friendly car insurance quotes for drivers over age 70.
Insurance rates consist of many factors and change substantially, so the cheapest option when you last compared rates may now be priced much higher than other options.