The words “low-cost” and “insurance” probably shouldn’t be used together, specifically when looking for the cheapest car insurance for drivers over age 70. To help control this cost, let’s introduce you to some situations that have an effect on car insurance rates, and find a few ways to lower the cost of your next policy.
Finding reliable, affordable insurance is hard enough, and determining which company offers the cheapest car insurance rates for drivers over age 70 will require a little more work. Each company has their own process for setting prices, so to begin we’ll rank the most affordable car insurance companies in Indiana.
It’s important to understand that Fort Wayne, IN car insurance rates are influenced by many factors that control the price you have to pay for coverage. This is why it is crucial to take the time to shop around when trying to find the most economical insurance quotes for drivers over age 70. Insurance prices can be altered by many factors and can change substantially, so the cheapest company the last time you shopped your coverage around may now be an over-priced policy.
Compare Cheap Insurance Quotes for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | Cincinnati Insurance | $658 |
| 3 | USAA | $661 |
| 4 | Erie | $712 |
| 5 | Indiana Farmers Mutual | $867 |
| 6 | Western Reserve | $872 |
| 7 | Auto-Owners | $888 |
| 8 | The Hartford | $889 |
| 9 | Nationwide | $940 |
| 10 | Utica National | $965 |
| 11 | Motorists Mutual | $966 |
| 12 | State Farm | $967 |
| 13 | Hastings Mutual | $973 |
| 14 | Safeco | $1,003 |
| 15 | Farmers | $1,053 |
| 16 | Westfield | $1,061 |
| 17 | Wolverine Mutual | $1,061 |
| 18 | State Auto | $1,098 |
| 19 | Progressive | $1,106 |
| 20 | GEICO | $1,133 |
| Find Your Rate Go | ||
Travelers may have some of the most affordable car insurance rates in Fort Wayne at around $620 annually. This is $620 less than the average rate paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual also rank well as some of the best Fort Wayne, IN auto insurance companies.
As the example above demonstrates, if you are a policyholder with Erie and switched to Cincinnati Insurance, you may see a yearly savings of upwards of $54. Policyholders with Indiana Farmers Mutual may save as much as $209 a year, and Western Reserve customers might cut rates by $214 a year.
To discover how much you can save, click here to get a free quote or visit several of the following companies.
These policy rates are averages for all types of drivers and the different vehicles they drive and and are not figured with an exact zip code location for drivers over age 70. So the car insurance company that can offer you the best rate may not even be in the top 36 companies in the list above. That points out the importance of why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The type of vehicle requiring coverage is probably the largest consideration that determines if you can find low-cost car insurance for drivers over age 70. Vehicles with high performance, a lack of modern safety features, or a track record of large liability claims will cost substantially more to insure than more modest models. The next list shows auto insurance costs for a selection of the most affordable automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $1,014 |
| Ford Escape XLS 4WD | $1,019 |
| Honda CR-V EX-L 2WD | $1,029 |
| Toyota Prius | $1,107 |
| Volkswagen Jetta 2.0T Station Wagon | $1,171 |
| Ford Edge Limited 2WD | $1,183 |
| Ford Focus S 4-Dr Sedan | $1,188 |
| Honda Odyssey EX W/Rear Entertainment | $1,183 |
| Toyota RAV4 2WD | $1,198 |
| Dodge Grand Caravan Hero | $1,207 |
| Toyota Tacoma Double Cab 4WD | $1,198 |
| Chevrolet Silverado LS Extended Cab 4WD | $1,208 |
| Chevrolet Equinox LS 2WD | $1,198 |
| Start Your Quote Go | |
Data assumes single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Table data does not factor in zip code location which can raise or lower premium rates significantly.
By looking at the data, you can see that vehicles like the Honda Accord, Ford Escape, Honda CR-V, and Toyota Prius will be a few of the more affordable vehicles to insure for older drivers. The price for car insurance will tend to be higher just due to the fact that there is a higher risk for drivers over age 70, but overall those particular vehicles will have the cheapest auto insurance rates compared to other vehicles.
For older drivers, one of the largest factors that are looked at to determine the annual cost of car insurance is where you call home in Fort Wayne. Cities with more crime and/or more people tend to pay more, whereas areas with lower crime rates and fewer weather claims have the luxury of cheap car insurance rates.
The information below rates the most costly cities in Indiana for drivers over age 70 to purchase car insurance in. Fort Wayne shows up at #15 with an annual premium of $976 for the average insured, which is around $81 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Gary | $1,388 |
| 2 | Hammond | $1,288 |
| 3 | Portage | $1,137 |
| 4 | Merrillville | $1,095 |
| 5 | Lawrence | $1,088 |
| 6 | Evansville | $1,087 |
| 7 | Jeffersonville | $1,080 |
| 8 | Terre Haute | $1,077 |
| 9 | Indianapolis | $1,060 |
| 10 | Kokomo | $1,041 |
| 11 | New Albany | $1,039 |
| 12 | Anderson | $1,011 |
| 13 | Bloomington | $988 |
| 14 | Columbus | $984 |
| 15 | Fort Wayne | $976 |
| 16 | Fishers | $974 |
| 17 | Elkhart | $965 |
| 18 | Greenwood | $960 |
| 19 | Muncie | $955 |
| 20 | Carmel | $947 |
| Get a Custom Quote Go | ||
Rates are estimated as vehicle location can change insurance rates greatly.
Indiana car insurance companies ranked
Selecting the highest-rated auto insurance company can be difficult considering how many companies there are to choose from in Fort Wayne. The company information in the lists below may help you pick which car insurance providers you want to consider shopping your coverage with.
These ratings only include insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in Indiana are not included in the list. To get rate quotes from these companies and more, click this link.
Top 10 Large Car Insurance Companies in Fort Wayne Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
Top 10 Large Car Insurance Companies in Fort Wayne Ranked by A.M. Best Rating
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Liability rates compared to full coverage
Lowering the price of car insurance is important to most people, and one good way to find cheap insurance for drivers over age 70 is to not buy full coverage. The diagram below shows the difference between insurance prices with full physical damage coverage and with liability coverage only. Data assumes a clean driving record, no claims, $1,000 deductibles, marital status is single, and no other discounts are factored in.
If we average all the age groups together, full coverage on your policy costs $1,184 per year more than just buying liability only. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no written rule to drop full coverage on your policy, but there is a general convention. If the yearly cost of full coverage is about 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s say your vehicle’s replacement cost is $5,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,500 after paying your policy deductible. If premium cost is more than $450 annually for physical damage coverage, then you might want to consider buying only liability coverage.
Low rates today, overpriced tomorrow
Fort Wayne, IN car insurance rates are impacted by many factors that may substantially change the policy price. Simply having a birthday, moving across town, or getting a driving violation can produce rate changes that can now make some companies much cheaper than others.
Not only that, but companies file new Indiana auto insurance rates as often as every quarter to adjust for unexpected claims or profits. Larger than normal claims may result in increased policy costs, while profitable underwriting can result in cheaper Fort Wayne car insurance rates.
For example, the graph below demonstrates which company has the cheapest car insurance in Fort Wayne, IN for a 30-year-old male driver with a clear driving record, no claims, and a good credit rating. If we compare prices based on his current situation, Travelers quotes the lowest car insurance rates in Fort Wayne at $634 annually. This is $606 less than the average premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve are also included in the top five cheapest Fort Wayne, IN auto insurance companies.
Let’s now give the driver from above a claim surcharge, a lower credit score, and a traffic citation. Since every car insurance company has a proprietary method to determining premium rates, comparing prices most likely will result in a substantially altered list of affordable companies as shown below.
The Hartford now has the cheapest price in Fort Wayne, IN with Auto-Owners, USAA, Cincinnati Insurance, and Nationwide completing the list. This example shows why it is critical to take the time to shop around when trying to get the cheapest car insurance quotes for drivers over age 70. Insurance rates are impacted by many things and change frequently, so the cheapest rate six months ago may now be quite expensive.
Tips for finding more affordable auto insurance for drivers over age 70
The list below details some money-saving ideas that can help Indiana drivers get cheaper coverage.
- Do not get tickets
- At-fault accidents can raise rates significantly
- Drive a car with a high safety rating
- Pay cheaper rates with good credit scores
- Increase your policy deductibles
- Full coverage is expensive so only insure older vehicles for liability only
- Shop around for cheaper prices often
That last tip is highly vital, as we hit on in this piece. Coverage rates in Fort Wayne change a lot, so drivers shouldn’t be reluctant to switch to a new company if a better rate can be found. Loyalty to a specific company is fine, but it’s not a good idea if that loyalty ends up costing money that could be spent on other things. Now is a great time to compare prices to find cheaper car insurance for drivers over age 70.