You have probably seen the captivating commercials from car insurance companies like State Farm, Progressive, and The General that make claims of the cheapest price, so you just need to pick one randomly, right?
Unfortunately, it’s just not that easy, as there are many unknowns like whether you are male or female, if you own a home, if you have a lapse in coverage, and the vehicle you are insuring, that all have an effect on the price. In this article, we will teach you about the best ways to pay less and also should give you a good beginning to your search for cheaper coverage.
Locating budget car insurance is not the easiest thing to do, and finding out which companies quote the most affordable insurance rates for seniors requires even more perseverance.
Each company has a unique formula for setting rates, so we’ll take a look at the most competitive insurance companies in Boston, MA. It’s important that readers know that Massachusetts insurance rates are impacted by many factors which can substantially decrease or increase the cost of coverage. Price variation is why it is so important to take the time to shop around to get the most economical auto insurance rates for seniors. Insurance prices are impacted by many factors and change dramatically, so the most economical option the last time you shopped around may now cost much more than other companies.
Cheapest Insurance Rates for Mature Drivers
|Rank||Company||Cost Per Year|
|2||National Grange Mutual||$807|
|9||Norfolk and Dedham||$1,078|
|Quote Your Rates Go|
State Farm has some of the most affordable car insurance rates in Boston at around $733 each year. National Grange Mutual, GEICO, Commerce Group, and OneBeacon also are some of the cheaper Boston, MA insurance companies.
In the above rates, if you currently have a policy with OneBeacon and switched to National Grange Mutual, you might achieve savings of approximately $96. Insureds with Progressive might save as much as $182 a year, and USAA customers might lower prices by up to $227 a year.
To get a fast rate comparison, click here or visit any of the low-priced companies below.
It’s important to note that these premiums are averaged across all drivers and vehicles in Massachusetts and are not factoring in a specific location for seniors. So the car insurance company that fits you best may not even be in the top 21 companies in the list above. That is why you need to compare rates from multiple companies using your own personal information and vehicle type.
The vehicle model driven is one of the biggest factors when quoting economical auto insurance for seniors. Vehicles with higher performance characteristics, poor passenger safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than safer models.
The next table estimates auto insurance premiums for the most budget-friendly vehicles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,093|
|Ford Escape XLS 4WD||$1,099|
|Honda CR-V EX-L 2WD||$1,120|
|Honda Accord EX-L 4-Dr Sedan||$1,186|
|Ford F-150 FX2 Super Cab 2WD||$1,225|
|Ford Explorer Eddie Bauer 2WD||$1,233|
|Ford Edge Limited 2WD||$1,265|
|Nissan Altima 2.5 4-Dr Sedan||$1,292|
|Toyota RAV4 Sport 2WD||$1,299|
|Ford Fusion S 4-Dr Sedan||$1,292|
|Chevrolet Malibu Hybrid||$1,301|
|Dodge Grand Caravan Crew||$1,321|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,328|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,329|
|Ford Focus SES 4-Dr Sedan||$1,334|
|Honda Odyssey EX-L W/Navigation||$1,360|
|Compare Cheap Rates Go|
Premium data assumes married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Price information does not factor in garaging location in Boston, MA which can raise or lower coverage prices greatly.
Looking at the numbers, you can expect makes and models like the Hyundai Elantra, Ford Escape, and Honda CR-V are most likely going to be some of the most economical vehicles to insure for senior citizens.
One of the more important things that are looked at to help calculate car insurance rates is where you keep your vehicle in Boston. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with less crime or weather claims have the benefit of cheaper car insurance.
The following table rates the highest-priced places in Massachusetts for seniors to purchase car insurance in. Boston is listed at #7 with a yearly cost of $1,735 for car insurance, which is around $145 per month.
|Rank||City||Average Per Year|
|Quote Best Rates Go|
Rate quotes are comparative as specific Boston garaging address can raise or lower rates substantially.
Bad driving habits will cost you more
The recommended way to get the best insurance prices in Boston for senior citizens is to drive carefully and avoid accidents and keep your driving record clean. The information below shows how speeding tickets and at-fault claims impact auto insurance rates for different insured age categories. The data is based on a married male driver, full coverage, $100 deductibles, and no policy discounts are applied.
In the prior example, the average cost of an auto insurance policy in Boston per year with no accidents and a clean driving record is $1,825. Get written up for one speeding ticket and the average cost increases to $2,092, an increase of $268 each year. Then add in one accident along with the one speeding ticket and the annual cost of insurance for seniors goes up to an average of $2,853. That’s an increase of $1,028, or $86 per month, just for not being a responsible driver!
Liability rates compared to full coverage
Paying a lower price for insurance is probably important to the majority of drivers, and an effective way to pay less for insurance for seniors is to not insure for full coverage. The illustration below shows the comparison of insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Massachusetts. The rates are based on no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.
Averaged out for all age groups, full coverage costs an extra $1,404 per year more than buying just liability insurance. That brings up the question if buying full coverage is worth the expense. There is no definitive formula of when to phase out full coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
Picking a good quality car insurance company can be challenging considering how many companies sell coverage in Boston. The ranking information listed below could help you pick which companies to look at when comparing rates. The ratings below only include large insurance companies, so companies that have a smaller presence are not factored into these rankings.
Top 10 Major Car Insurance Companies Overall in Boston
- The Hartford
- State Farm
- Farmers Insurance
- Safeco Insurance
- Liberty Mutual
- AAA Insurance
If you aren’t clear which coverage you need and would like to get some professional input when shopping for the best coverage for seniors, the agents shown below are a good start to help you decide which coverages you need.
To find a Boston insurance agency near you, click the link at the bottom or click here to compare prices now.
Regus insurance Agency, LLC
287 Newbury St – Boston, MA 02115 – (617) 902-0011
T. A. Holland and Co. Insurance Agency LLC
7, 60 State St – Boston, MA 02109 – (617) 523-2828
Merrimack Valley Insurance Agency Inc
655 Boston Rd #1a – Billerica, MA 01821 – (978) 330-6985
How to find low-cost insurance for seniors
It is possible to find better rates, and here are many money-saving solutions that can help you find more affordable car insurance.
- Having too many claims will increase rates substantially
- Vehicles with safetly features generally cost less to insure
- Remain accident-free and save
- Just one traffic violation will increase your rates
- Increase your credit rating
- Compare prices as often as possible
That last tip is certainly valuable, as we discussed in this piece. Rates change a lot, so drivers shouldn’t hesitate to switch to a new company if a lower price can be found. Brand loyalty is not necessarily bad, but it’s not recommended if that inflexibility results in costing you a wad of cash every year. Now is a great time to compare prices to find cheaper insurance for seniors in Boston.