Top Class Car Insurance For Senior Citizens

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Are you ready to enjoy your retirement? Constantly working for 40/50 years is not an easy task, but now that you have left your job, it’s time to think about saving some money and opting for the right services and products. You need to make sure that you are getting the appropriate and accurate coverage based upon your vehicle’s market value. Moreover, you should opt for a policy that suits your lifestyle and offers multiple perks and discounts you deserve.

How can one opt for the right company when there are so many options available in the market? Investopedia has examined the accessible options and have accumulated a list of companies that not only offer maximum coverage but provides discounts and extra benefits to the senior citizens as well.

Based on our verdicts, following are 7 companies that fit in our criteria and offer the best possible insurance coverage to senior citizens:

  • The Hartford: Best for all the senior citizens. 
  • GEICO: Best for people who are on a budget.
  • USAA: Best for veterans. 
  • Metromile: Best for the occasional drivers.
  • Allstate: Best discounts for senior citizens. 
  • Dairyland: Best for risky drivers. 
  • Hagerty: Best for classic, vintage or exotic car coverage. 

Hartford:

Hartford has been offering premium car coverage exclusively to AARP since 1984. They specifically work with the senior citizens but have maintained high ratings on websites such as J.D. Power. Hartford is known for its above-average client satisfaction ratings, and the company’s financial power remains high in the market.

Hartford’s coverage includes the following:

  • 24/7 roadside assistance, guidance and help.
  • 24//7 claims hotline, accessed by phone or online
  • Lifetime renewability for as long as you pay your premiums and keep your license.
  • RecoverCare to help pay for transport, cooking, cleaning, and other costs after an injury due to a mishap.
  • New-car replacement if your new car is totalled within 15,000 miles or 15 months of purchase. 
  • Rate protection, which locks in your car insurance premium for a yea. 
  • Lifetime car repair promise if your car is fixed at an authorised repair shop. 

GEICO:

If you are in search of a car insurance company who continually offers lower rates and a large number of benefits, you need to check out GEICO. Furthermore, GEICO earned the highest spot in J.D. Power’s 2020 Insurance Shopping Study as well as the #1 spot on U.S. News & World Report’s Top Insurance Companies in 2020. It’s truly one of the best from the lot.

GEICO’s coverage includes the following:

GEICO is one of the best insurance companies in the country; they are known for providing budget-friendly packages and an extensive range of discounts to their customers. Investing in GEICO will benefit you as they offer multiple perks, add-on policies, etc.

  • Emergency road service.
  • Rental reimbursement.
  • Mechanical breakdown insurance.
  • Rideshare coverage.
  • Accident forgiveness.
  • Glass coverage.

USAA:

If you or your better half work or have worked for the military in the past, then consider opting for USAA as it’s simply the best. They offer the lowest rates in the industry and help customers in every possible way. Consumers often rank it as one of the best insurance companies due to their customer service. Moreover, USAA is available in more than 50 states. It is a beneficial option for anyone who is about to relocate for retirement.

USAA coverage includes the following:

  • The senior or veteran bonus is a unique discount for veterans who have remained with USAA for over 40 years. 
  • Multi-car and multi-policy discounts benefit those with multiple cars or bundled car and homeowners policies to save some money.
  • New vehicle discounts are available for those with cars that are less than three years old.
  • Discounted rates based on mileage are available for those who only drive a short number of miles per month.

Senior citizens who reside in old homes or retirement communities hardly drive their cars. Hence, regular car insurance just doesn’t make sense as it is of no use to them. Luckily, Metromile offers plans specifically designed for drivers who rack up less than 10,000 miles per year. It is indeed an excellent plan for seasoned drivers.

  • Low premiums based on your actual drive time per month. 
  • Automatic software and a smartphone app help you with parking and overall car maintenance.
  • 24/7 claims service; call anytime you want. 
  • Rental compensation if your car ends up in the repair shop after an accident ($30 per day for up to 30 days for you to rent a car)
  • Roadside assistance, guidance and towing coverage. 
  • Pet injury security of up to $1,000 if your pet is injured in a car accident.
  • No-deductible glass repair if you purchase a complete coverage plan. 

Allstate:

Allstate provides some of the best policies in the market. Please know that they offer discounted packages and added perks to individuals who are over 55 years old. Their packages are specifically designed for individuals who are retired or work part-time. Allstate is an amazing option for anyone willing to save some extra bucks.

Allstate’s coverage includes the following:

  • Large discounts for senior citizens. 
  • Various perks for long-term or old customers.
  • Accident pardon.
  • Safe driving bonus.
  • Deductible rewards.
  • Car purchasing service.
  • Claim satisfaction guarantee.

Hagerty:

Quite a lot of individuals adore investing in vintage, classic or exotic cars. However, people do not realise that in order to protect their prized possessions, it’s mandatory to purchase classic insurance. Regular insurances cannot help you cover your valuable cars, and that’s where exotic car coverage from firms such as Hagerty comes in.

  • Extensive coverage for classic, vintage, and collectible cars.
  • Guaranteed coverage in case of a total loss. 
  • 24/7 roadside assistance, guidance and help.
  • Guaranteed coverage suggests that you will be granted your car’s agreed-upon insured amount in full in the case of a total loss accident. There are no reductions or price discrepancies to hash out at any point.
  • Spare parts coverage shields the valuable tools and spare parts you may need to keep your vehicle running efficiently. Hagerty will cover original parts when your car needs repair, which is essential when fixing an expensive or rare vehicle.
  • 24/7 roadside assistance guarantees a tow or a tire change while out on the road.
  • Specialized medical coverage applies to you and your family members. This can be extremely valuable for older drivers who like to parade their classics at auto shows and exhibitions.