Car Insurance For Seniors In Florida: Cheapest And Best Providers

Owing in large part to high risks of extreme weather, Florida seniors can expect to pay an average of 62% more for full coverage car insurance compared to the national average. With rates exceeding over $3,000 per year for full coverage, seniors need to be able to take advantage of as many discounts as possible for car insurance.

This article will look at different factors that increase car insurance rates in Florida and available discounts and programs to bring those costs down.

Cheapest Car Insurance For Seniors In Florida

Finding affordable car insurance is crucial for seniors on a fixed income. The cheapest overall provider for seniors in Florida is GEICO, at an average annual premium of $1,460.

Use the table below to see the cheapest rates for seniors:

Cheapest Car Insurance for Seniors Over 65 In Florida

For seniors over 65, insurance rates can vary based on driving habits and health. State Farm offers the best rates for this age group, with an average annual premium of $1,670.

Use the table below to view the cheapest rates for seniors over 65.

Cheapest Car Insurance In Florida For Seniors Over 70

As drivers age, their insurance rates can increase due to perceived higher risk. However, Travelers offers the lowest rates for seniors over 70, with an average annual premium of $2,180. Travelers’ policies are tailored to senior drivers, providing affordable and comprehensive coverage.

Check out the below table to view the cheapest over 70 car insurance rates in Florida.

Cheapest Car Insurance for Seniors Over 75

For seniors over 75, State Farm remains a top contender, offering an average annual premium of $1,860.

You can check out average rates from other providers below.

Cheapest Car Insurance for Seniors Over 85

For seniors over 85, insurance rates tend to be higher due to increased health risks and potential for accidents. However, GEICO offers competitive rates, with an average annual premium of $1,964, thanks to its various senior discounts.

View the cheapest insurance rates for seniors over 85 below.

Cheapest Car Insurance for Seniors with a Ticket In Florida

A driving ticket can significantly increase insurance rates. Nationwide offers the lowest rates for seniors with a ticket, averaging $3,360 annually.

Based on my analysis, these are the cheapest rates for seniors with a ticket in Florida.

Cheapest Car Insurance for Seniors In Florida with a DUI

Having a DUI on record drastically affects insurance premiums. State Farm offers the most affordable rates for seniors with a DUI, with an average annual premium of $2,253.

Based on my findings, these are the cheapest rates for seniors with a DUI.

Cheapest Car Insurance for Seniors In Florida After an Accident

Post-accident insurance rates can be high. GEICO offers the best rates for seniors after an accident, with an average annual premium of $2,361.

Check out the below table, which shows the cheapest average rates for seniors with an accident on their record.

How Much is Car Insurance for Seniors in Florida?

Car insurance premiums for seniors in Florida can differ significantly based on factors like age, location, driving history, vehicle type, and coverage level. Not only does Florida have the third-highest rates for insurance premiums across the United States, but seniors tend to pay slightly higher rates because of age-related risks and health concerns.

On average, seniors in Florida can expect to spend around $1,500 to $3,500 per year for full coverage. This range reflects different discounts and coverage options. The table below outlines the average annual costs for five leading providers for seniors in Florida.

Factors Influencing Senior Car Insurance Rates In Florida

There are several factors that influence the rates for car insurance in Florida.

Location

Florida has the third-highest auto insurance premiums in the United States, with no signs of stopping.

Owing to the high risk of natural disasters, particularly along coastal regions, seniors who live in areas with severe weather events will likely be charged more for their insurance coverage.

Hurricane Ian in 2022 caused billions of dollars in damage and significantly impacted the cost of car insurance for seniors in Florida.

By the start of 2023, Florida car insurance costs for seniors jumped 10.1%. By the end of the year, there was a 24% increase overall and reports indicate another 7% increase for 2024.

As inflation rises, severe weather-related claims skyrocket, and the risk of damage or theft from larger cities grows concurrently, car insurance for seniors in Florida will continue to increase, making the application of discounts and loyalty programs even more important.

Age

Behind location, particularly a large city or coastal location, seniors can expect their age to have a direct influence on their policies, with those over 70 seeing an increase because of higher risks.

Driving Record

The Florida point system impacts the cost of insurance, with a clean driving record leading to lower premiums and vice versa.

Mileage

How much you drive and the general driving habits you employ will also influence car insurance rates for seniors. Thankfully, this can go in either direction, with things like safe driving behavior programs and low mileage programs offering discounts on coverage.

Coverage Level

The type of coverage you have for each of your vehicles will influence the cost as well. You can do things like play around with your deductible versus your premium to change how much you pay out of pocket now versus how much you might pay when you file a claim.

Discounts

There are several discounts available to seniors in Florida, which can help offset the additional projected 7% increase for 2024, especially things like defensive driving courses and safe driving behaviors.

Why Do Car Insurance Rates Increase For Florida Seniors?

Florida seniors typically face higher insurance fees because of age-related factors.

Higher Accident Risk

National findings indicate that Florida has the highest number of car accidents involving seniors. This is, in large part, due to the fact that Florida is home to several retirement communities, which increases the population of seniors throughout the state and subsequently the percentage of car accidents and fatalities.

This is not new. Florida has led the United States in traffic accidents and traffic fatalities involving drivers over the age of 65 for the last three decades.

Health Problems

According to the Florida Department of Elder Affairs and the National Institutes of Health, senior drivers in Florida struggle with several disabilities that can negatively influence driving. 13% have cognitive impairments, nearly 25% struggle with obesity and subsequent risks of diabetes, and almost 65% of Florida adults over 65 have high blood pressure.

Diabetes and chronic conditions that are treated with medication, whose symptoms can include drowsiness and dizziness, are among the leading health factors contributing to car accidents for seniors and subsequently contributing to higher premiums for seniors as they get older.

Higher Injury Severity

Older drivers who are involved in an accident are more likely to experience severe injuries because of slower healing and fragile bones, which increases the medical costs, something factored into premium calculations by car insurance providers.

Claim Frequency

As mentioned, premiums tend to increase around age 70, which is the same time frame when drivers have increased rates of property damage liability claims as well as collision claims.

How Can Seniors Save On Car Insurance?

Seniors have the opportunity to save on car insurance using several loyalty programs and online shopping comparisons.

1. Take Advantage of Discounts

Seniors in Florida can save on their car insurance by taking advantage of different discounts, including low mileage discounts, safe driving discounts, and multi-policy discounts.

2. Review and Adjust Coverage

It is important to review and adjust the coverage you have regularly. For example, if you have older vehicles, dropping collision and comprehensive coverage might be wise, particularly if the value is low.

3. Shop Around

Before you drop your coverage, use Insuranceopedia to compare quotes from various insurance providers. This can help you look at the rates different competitors offer to find things that might be a better fit for your budget.

4. Maintain a Good Credit Score

The Florida Department of Transportation keeps tabs on things like your driving behavior, and this information is shared with insurance providers. However, your credit score is also accessed by insurance providers prior to offering new coverage or renewing your coverage, so keeping a good credit score can help you reduce your premiums.

5. Install Safety Devices

If you live in a large city, having anti-theft systems can help reduce your risk of car theft, which will go a long way toward reducing what you pay for your premiums. Other features that reduce your risk of an accident, like lane assist measures, can have an equal contribution to lower insurance premiums.

6. Consider Group Insurance

If you are a member of a specific group or organization, you might be able to get group insurance at a considerable discount. Retired military can, for example, find substantial discounts through USAA, and members of the AARP can also look for perks and discounts on their insurance.

7. Ask About Senior Discounts

When looking at new coverage or renewing existing coverage, ask about senior discounts. Different companies like Geico and State Farm provide a range of programs and benefits for drivers over the age of 55.

8. Regularly Review Insurance Needs

This goes hand in hand with shopping around; as your driving requirements change, so will your insurance requirements. If you suddenly retire or you simply aren’t driving as much, you might need to change the coverage you have.

Car Insurance Discounts For Seniors in Florida

Seniors can take advantage of multiple discounts offered by car insurance providers. Look out for these common ones in Florida:

Driver Improvement Courses

Florida offers several Defensive Driving programs overseen by the Florida Department of Highway Safety and Motor Vehicles. These come in 4-hour, 8-hour, and 12-hour programs. Completion of these programs is a requirement for new drivers, but seniors can complete them every three years and get an additional discount on their insurance.

Safe Mobility for Life

The Florida Department of Transportation has the Safe Mobility for Life program designed to improve the safety of aging drivers across the state. This program provides drivers 65 and older with information about the impact that aging has on driving abilities, as well as tips like getting annual eye exams or wearing contact lenses where directed, avoiding driving in bad weather or in the dark, and traveling on routes that have left turn signals.

Florida traffic crash reports from 2022 indicate that car accidents involving senior drivers are more likely to happen when drivers are making left turns without a supporting left turn signal into oncoming traffic, changing lanes, or in larger intersections and highways.

Car insurance providers in the state of Florida do not directly use participation in this program as a way to reduce the premiums you pay but participation can be one of several factors in addition to things like credit score and driver history used to evaluate your risk assessment, and by extension, the cost of your premiums.

Low Mileage/Usage

Several companies like MetroMile, Nationwide, and Mile Auto offer pay-per-mile car insurance in Florida. These programs are generally beneficial to seniors who drive less than 10,000 miles per year, and they can help you save money with a lower monthly premium that averages $35, followed by a per-mile charge each month, which averages six cents per mile.

Driving Behavior

Florida drivers can utilize safe driver programs where a device is implemented or an app is downloaded, and the phone is plugged into the car to track driver behavior. These programs look at things like how quickly you come to a stop or accelerate, how you change lanes, and more.

This data gets compiled by companies like Nationwide, Allstate, or Geico and is used to determine your level of risk as a driver and, subsequently, your premiums.

Bundling

Seniors in Florida can save on car insurance costs by bundling. When you combine your policy to include multiple Insurance products like car insurance and condo insurance, it can lead to considerable savings.

Good Student

If you happen to have a grandchild who is on your policy, you can get a discount if they maintain a certain GPA. They can also get discounts for completing the same type of driver safety program or using driver behavior programs.

Vehicle Safety Devices

New vehicles might get you a lower premium compared to older vehicles if they have vehicle safety features like lane assist, lights that stay on during the daytime, anti-theft systems, and anti-lock brakes.

In some cases, you can have the systems upgraded or installed on an older vehicle as well.

All of these features help reduce the risk of accidents and car theft, especially for seniors, which makes Insurance less expensive.

Affinity Group

If you are a member of certain groups, you can get discounts from your insurance provider. Geico, for example, offers discounts to Florida seniors who are part of over 500 organizations, including educational organizations, government organizations, and professional organizations. Membership with the AARP can offer access to special insurance plans as well as discounts from other providers.

Loyalty

Loyalty discounts are offered to seniors in Florida who keep their same insurance provider over the span of several years. These discounts can typically be stacked with other discounts.

Car Insurance Rates for Senior Drivers By U.S. State

Finding the most affordable car insurance is essential for senior drivers, who often face different challenges and risks on the road. This section provides a comprehensive overview of the cheapest car insurance rates for seniors in each state, along with the insurance carrier offering these competitive rates.

By comparing these options, senior drivers can make informed decisions that ensure both affordability and adequate coverage.