The vehicle requiring insurance is one of the biggest factors when shopping for the most affordable auto insurance for drivers over age 60. Vehicles with more horsepower, poor safety features, or a high likelihood of having liability claims will cost substantially more to insure than more modest models. The next table illustrates car insurance prices for a handful of the most affordable vehicles to insure in Massachusetts.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$1,342|
|Ford Escape XLS 4WD||$1,349|
|Volkswagen Jetta S 2.5 Station Wagon||$1,459|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,478|
|Ford Explorer XLT 4WD||$1,507|
|Honda Odyssey EX||$1,565|
|Ford Edge SE AWD||$1,574|
|Chevrolet Impala LS||$1,565|
|Chevrolet Equinox LS 2WD||$1,594|
|Chevrolet Malibu LS||$1,599|
|Ford Fusion S 4-Dr Sedan||$1,594|
|Toyota RAV4 Sport 2WD||$1,604|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,621|
|Dodge Grand Caravan Crew||$1,629|
|Ford F-150 Lariat Crew Cab 4WD||$1,621|
|Hyundai Elantra Blue 4-Dr Sedan||$1,650|
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Prices above based on single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rates do not factor in specific location information which can increase or decrease insurance rates noticeably.
Based upon the rates shown, you can see that makes and models like the Honda CR-V, Ford Escape, Volkswagen Jetta, Jeep Wrangler, and Toyota Prius are most likely going to be a few of the most economical vehicles to insure for older drivers.
For older drivers, one of the more important factors that aid in calculating the annual cost of car insurance is where you live. More populated areas will most likely have higher rates, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.
The following table shows the most costly cities in Massachusetts for drivers over age 60 in which to buy car insurance. Boston is listed at #7 with the yearly price of $1,788 for coverage, which is about $149 per month.
|Rank||City||Premium Per Year|
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Table data uses approximated as the vehicle garaging location can increase or decrease insurance rates significantly.
Insurance rate increases from tickets or accidents
The obvious way to score cheap auto insurance prices for older drivers is to pay attention while driving and not get tickets or have accidents. The example below demonstrates how traffic citations and at-fault accidents can influence insurance costs for each different age group. The prices are based on a married female driver, full coverage, $500 deductibles, and no discounts are factored in.
The data charted above shows the average cost of auto insurance in Boston per year with a clean driving record and no accidents is $1,611. Get one speeding ticket and the average cost surges to $1,880, an increase of $269 each year. Now get one accident along with the one speeding ticket and the 12-month cost of auto insurance for drivers over age 60 jumps again to an average of $2,635. That’s an increase of $1,024, or $85 per month, just for not being more responsible behind the wheel!
Selecting a highly-rated company can be difficult considering how many different insurance companies sell coverage in Boston. The company ratings in the next section could help you pick which insurers you want to consider when comparing insurance rates for drivers over age 60. The ratings below are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies with more of a regional focus are not taken into consideration for these rankings.
Top 10 Large Auto Insurance Providers in Boston Ranked by Customer Satisfaction
- The Hartford – 93%
- Progressive – 90%
- USAA – 87%
- State Farm – 87%
- Travelers – 87%
- Safeco Insurance – 86%
- AAA Insurance – 86%
- Farmers Insurance – 85%
- GEICO – 85%
- American Family – 85%
Top 10 Large Auto Insurance Providers Overall in Boston
- The Hartford
- State Farm
- Farmers Insurance
- Safeco Insurance
- Liberty Mutual
- AAA Insurance
The diagram below highlights how deductible selection can change insurance costs when getting quotes for cheap insurance for drivers over age 60. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
The data above shows that a 40-year-old driver could lower rates by $226 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $344 by using a $1,000 deductible. Young drivers, like the 20-year-old example, could lower their rates as much as $568 or even more by choosing larger deductibles on their policy. When using a larger deductible, it is essential to have plenty of savings on hand to cover the extra out-of-pocket expense associated with higher deductibles.
A good deal can quickly turn bad
Massachusetts auto insurance rates are influenced by many factors which can significantly increase or decrease your annual premium. Simply having a birthday, buying a different home, or getting a couple of tickets can trigger rate changes resulting in some rates now being more affordable than before. Not only may things change on your end, but insurance companies file new Massachusetts car insurance rates multiple times each year in order to protect their financial rating. An unexpected high level of claims can cause more expensive premiums, while lower claim expenses can produce more affordable Boston car insurance rates.
For example, the graph below shows which companies have the cheapest car insurance in Boston, MA for a 45-year-old male driver with no accidents, a clean driving record, and great credit. When quoting prices based on his current risk factors, State Farm may offer the cheapest car insurance rates in Boston at $973 annually. This is $262 less than the average policy premium paid by Massachusetts drivers of $1,235. National Grange Mutual, OneBeacon, GEICO, and Commerce Group are the remaining cheapest Boston, MA auto insurance companies.
Now we will give the driver from the first rate comparison a chargeable accident, poor credit, and a couple of points charged on his driving record. Since every insurance provider has a unique formula for determining prices, analyzing rate quotes may now result in a different set of the cheapest Boston car insurance companies as shown below.
Arbella now has the cheapest price in Boston, MA with Norfolk and Dedham, USAA, National Grange Mutual, and Amica also being competitive. This example proves why drivers need to compare as many rates as possible to get affordable car insurance rates for drivers over age 60.
Auto insurance prices consist of many factors and can increase or decrease at any time, so the cheapest rate six months ago may now not even be in the top five.