Senior woman driving a car with a male passenger

There are many things to love about reaching your golden years. Retirement, senior discounts, the wisdom of your years – just to name a few! But what about car insurance? You have got plenty of time on your hands now, you want to go out and see the things you didn’t have time for in the past, and you’re going to need a reliable policy to protect the vehicle you’re doing it in. Do the golden years come with a golden rate too? Let’s find out.

Does car insurance increase with the age of the driver?

You might remember paying more for car insurance as a teenager (or paying more for your own kids’ in their teens), but in your 20’s that number drops off markedly each year. After about 40 years of dropping rates however, the average cost of car insurance does hit an uptick at age 60. This increase continues with each passing year, spurred on by the higher risk carried by senior drivers.1 However, here are some steps which can counter increasing rates.

Can seniors get car insurance discounts?

Just like changing rates are a constant throughout life, so too are the ways to reduce them. Rates rise for senior citizens because, statistically, they are more likely to be high-risk drivers than their younger counterparts. But this isn’t true of all senior drivers! Some seniors remain safe drivers well into their 80’s, and others simply lower their annual mileage so significantly that their risk follows suit. Reducing senior car insurance rates is a matter of proving these things to the insurance company, demonstrating that the statistical risk doesn’t apply as much to you.

Drive safely and stay accident free

No matter what age you are, a historically safe driver is almost always going to score a lower rate than a driver with some accidents on their record. Two safe-driver discounts Nationwide offers are the Defensive driving and Accident free discounts.

Complete a state-approved safety course and get a discount. (You may have to be 55 or over to be eligible.)

Get a discount by maintaining an accident-free driving record.

Seniors with clean records and safe habits can lower their rates accordingly. Discounts and age eligibility vary by state for such methods, but they offer yet another avenue to explore.2

Enroll in usage-based insurance programs

Even the safest drivers raise their net risk by driving more, but some seniors lower their mileage drastically after retirement.2 If you’re spending less time behind the wheel, you may be able to score yourself a discount for it. SmartRide rewards safe driving with an up to 40%* discount. SmartMiles is a pay-per-mile program for low-mileage drivers that offers the same coverage as a traditional policy, but with a variable monthly premium that’s based on how many miles you drive. Senior drivers who have cut their driving time down save big with these programs.

Consider your location

Sometimes retirement is all about changing your scenery and resettling yourself in your dream home. If you do make moving a part of your retirement, you may be able to cut your rate along the way. Certain areas carry more risk than others, meaning that average rates do vary based on location.3

Get the coverage you need

There are many factors influencing your car insurance rate no matter what stage of life you’re in. Seniors may face naturally rising rates, however the lifestyle changes that come with age can be effective at counteracting this increase. Your choice of insurance company makes a big difference too! According to, Nationwide offers the best value on car insurance for seniors, so choose wisely!4 Get an obligation-free quote today by visiting or calling 1-888-869-5727.

Need protection for embracing your empty nest?
Read our resources for transitioning to retirement.